Economy
Airtel Africa, Others Revive Local Bourse by 0.84% Despite Bearish Sentiment
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited ended in the green territory on Thursday after it gained 0.84 per cent, thanks to Airtel Africa and some insurance equities.
However, investor sentiment at the local bourse remained weak as a result of sustained profit-taking in the banking and consumer goods sectors.
Data showed that the insurance index was the sole gainer of the sectors during the session, as it rose by 0.51 per cent when trading activities ended at 2:30 pm.
Business Post reports that the banking counter depreciated by 3.04 per cent, the energy counter fell by 0.36 per cent, and the consumer goods index declined by 0.06 per cent, while the industrial goods sector closed flat.
At the close of transactions, the All-Share Index (ASI) increased by 813.29 points to 98,156.71 points from 97,343.42 points, and the market capitalisation gained 0.85 per cent or N467 billion to settle at N55.525 trillion compared with the previous day’s N55.058 trillion.
The market breadth index of the NGX was negative yesterday after it recorded 24 depreciating equities and 15 appreciating equities.
Royal Exchange and Guinea Insurance were on top of the gainers’ chart on Thursday after chalking up 10.00 per cent each to sell for 55 Kobo and 33 Kobo apiece. Airtel Africa grew by 8.97 per cent to N2,150.00, International Energy Insurance improved by 7.84 per cent to N1.65, and Prestige Assurance advanced by 5.88 per cent to 54 Kobo.
On the flip side, Eterna stayed on top of the losers’ table after it went down by 9.89 per cent to N12.30, FCMB lost 8.28 per cent to quote at N6.65, Omatek slumped by 6.94 per cent to 67 Kobo, Unity Bank shrank by 5.88 per cent to N1.60, and FBN Holdings contracted by 5.36 per cent to N22.95.
Customs Street was busy yesterday on renewed confidence of traders in the domestic equity market, with the trading volume and value rising by 15.24 per cent and 25.35 per cent, respectively, while the number of deals decreased by 0.50 per cent.
A total of 409.8 million shares valued at N8.9 billion exchanged hands in 7,296 deals on Thursday versus the 355.6 million shares worth N7.1 billion transacted in 7,333 deals on Wednesday.
Custodian Investment led the activity chart with a turnover of 115.6 million stocks valued at N1.4 billion, Nigerian Breweries traded 83.8 million equities worth N1.9 billion, UBA transacted 26.1 million shares for N560.5 million, Access Holdings exchanged 24.2 million shares for N409.8 million, and GTCO sold 22.9 million stocks valued at N946.9 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.
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