Economy
Customs Street Sinks Deeper by 0.66% as Sell-offs Persist
By Dipo Olowookere
For another trading session, the Nigerian Exchange (NGX) Limited ended on a negative note with a 0.66 per cent loss on Tuesday.
This decline was influenced by persistent selling pressure in large and mid-cap equities listed on Customs Street.
Data from the bourse showed that Cadbury Nigeria finished as the worst-performing stock with a 9.89 per cent fall to close at N16.40.
Academy Press depreciated by 9.87 per cent to N2.83, Royal Exchange shed 9.72 per cent to trade at 65 Kobo, Aradel Holdings shrank by 8.33 per cent to N550.10, and Sovereign Trust Insurance went down by 8.06 per cent to 57 Kobo.
On the flip side, Northern Nigerian Flour Mills ended the session as the best-performing stock after it appreciated by 10.00 per cent to settle at N37.40, Eunisell grew by 9.87 per cent to N4.23, The Initiates expanded by 9.81 per cent to N2.35, Livestock Feeds rose by 7.73 per cent to N4.04, and CWG increased by 4.96 per cent to N6.35.
Business Post reports that the insurance sector gained 0.18 per cent yesterday and the energy counter improved by 0.03 per cent.
However, the banking index depreciated by 1.46 per cent, the industrial goods space declined by 0.33 per cent, and the consumer goods marginally crumbled by 0.01 per cent.
As a result, the All-Share Index (ASI) retreated by 650.83 points to settle at 98,058.07 points compared with Monday’s 98,708.90 points, and the market capitalisation decreased by N394 billion to quote at N59.418 trillion, in contrast to the preceding day’s N59.812 trillion.
It was observed that the market was busy on Tuesday as the trading volume, value and number of deals increased by 13.05 per cent, 93.48 per cent, and 1.38 per cent, respectively.
The market participants bought and sold 399.3 million equities valued at N8.9 billion in 9,547 deals during the trading day versus the 353.2 million equities worth N4.6 billion transacted in 9,417 deals a day earlier.
At the close of business, UBA traded 90.4 million shares worth N2.6 billion, Chams exchanged 80.6 million stocks valued at N162.0 million, Transcorp transacted 31.7 million equities for N1.6 billion, Zenith Bank sold 22.9 million shares valued at N892.2 million, and Access Holdings traded 15.7 million equities worth N346.3 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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