Economy
Bears Tighten Grip on Nigerian Exchange After 0.29% Loss
By Dipo Olowookere
The continued profit-taking in the financial services sector gave the bears more confidence to direct the affairs of the Nigerian Exchange (NGX) Limited on Friday.
The stock exchange further depreciated by 0.29 per cent yesterday as a result of the persistent selling pressure caused by the absence of a positive market trigger.
The banking index went down by 1.78 per cent during the session, the insurance counter decreased by 0.55 per cent, and the industrial goods space fell by 0.07 per cent.
However, the consumer goods index appreciated at the close of transactions by 0.34 per cent due to bargain-hunting, while the energy sector closed flat.
Business Post reports that dominance of the bears over the bulls brought down the All-Share Index (ASI) by 298.41 points to 103,437.67 points from 103,736.08 points, and depleted the market capitalisation of the NGX by 0.27 per cent or N156 billion to N58.498 trillion from N58.654 trillion.
Investor sentiment remained weak during the session after a negative market breadth index as the bourse closed with 30 depreciating stocks and 16 appreciating stocks.
CWG fell by 10.00 per cent to N6.75, Secure Electronic Technology went down by 9.38 per cent to 58 Kobo, Omatek declined by 9.30 per cent to 78 Kobo, SCOA Nigeria weakened by 8.90 per cent to N2.15, and UPDC dropped 7.43 per cent to N1.37.
On the flip side, Cutix gained 10.00 per cent to trade at N3.19, Tantalizers appreciated by 8.57 per cent to 38 Kobo, C&I Leasing rose by 5.71 per cent to N3.70, RT Briscoe chalked up 5.36 per cent to finish at 59 Kobo, and Dangote Sugar sweetened its value by 5.36 per cent to N59.00.
Again, the activity level improved yesterday after the trading volume and value increased by 359.58 per cent and 19.87 per cent, respectively, while the number of deals declined by 4.28 per cent.
Investors transacted 2.2 billion shares worth N18.7 billion in 8,527 deals during the session versus the 487.7 million shares worth N15.6 billion traded in 8,908 deals on Thursday.
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.
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