Economy
Nigerian Stock Market Recedes by 0.76% as Traders Book Profit
By Dipo Olowookere
The Nigerian stock market witnessed a pullback of 0.76 per cent on Thursday, influenced by profit-taking by investors, who quickly sold off some stocks that have gained weight in the past few days.
Shares in the key sectors of the Nigerian Exchange (NGX) Limited were affected, pulling down the All-Share Index (ASI), which hit its all-time high on Wednesday, by 539.48 points to 70,042.28 points from 70,581.76 points, as the market capitalisation depreciated by N296 billion to N38.482 trillion from N38.778 trillion.
Business Post reports that the banking index depleted by 0.85 per cent, the industrial goods sector shed 0.65 per cent, and the consumer goods counter dropped 0.19 per cent, while the insurance space gained 1.56 per cent, with the energy sector remaining unchanged.
The mood of the market was bearish due to the selling pressure, leaving the bourse with 28 depreciating equities and 26 appreciating stocks, indicating a negative market breadth index and a weak investor sentiment.
Chams dropped 9.84 per cent to sell at N2.20, International Breweries lost 8.79 per cent to close at N4.15, RT Briscoe shed 8.51 per cent to settle at 43 Kobo, Thomas Wyatt slumped by 8.42 per cent to N3.70, and FBN Holdings slipped by 8.14 per cent to N18.05.
However, Omatek surged by 10.00 per cent to 55 Kobo, Academy Press grew by 9.83 per cent to N1.90, Tantalizers appreciated by 9.76 per cent to 45 Kobo, Prestige Assurance soared by 9.76 per cent to 45 Kobo, and DAAR Communications increased by 8.70 per cent to 25 Kobo.
At Customs Street yesterday, investors traded 525.5 million stocks worth N6.1 billion in 8,396 deals compared with the 601.7 million stocks worth N11.0 billion traded in 7,444 deals on Wednesday, implying an increase in the number of deals by 12.79 per cent, a decline in the trading volume by 12.66 per cent and a contraction of 44.55 per cent in the trading value.
Japaul finished the trading day as the most active stock for exchanging 92.0 million units valued at N125.0 million, followed by Fidelity Bank for trading 67.0 million units worth N557.4 million. UBA sold 46.3 million shares for N971.3 million, FCMB transacted 42.6 million equities worth N262.6 million, and Chams traded 31.0 million stocks valued at N72.9 million.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn