Economy
Local Stock Market Records First Gain in Seven Sessions
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited rebounded by 0.22 per cent on Tuesday after being in the red territory for the past six straight trading days.
It was the first gain the local stock market was recording in seven sessions as a result of persistent profit-taking by investors.
The growth achieved yesterday was due to bargain-hunting in some banking stocks, especially UBA, FBN Holdings, Zenith Bank, and Access Holdings.
Data showed that the banking index rose by 3.16 per cent and the energy counter appreciated by 1.55 per cent as a result of the price appreciation in Conoil.
However, the insurance sector weakened by 1.33 per cent, the industrial goods space fell by 0.06 per cent, and the consumer goods counter depreciated by 0.05 per cent.
When trading activities ended for the day, the All-Share Index (ASI) was up by 215.63 per cent to 97,123.61 points from 96,907.98 points and the market capitalisation was up by N131 billion to N58.852 trillion from N58.721 trillion.
Investor sentiment was bullish on Tuesday after the bourse ended with 26 appreciating equities and 21 depreciating equities, indicating a positive market breadth index.
Conoil chalked up 9.93 per cent to trade at N208.10, John Holt improved by 9.92 per cent to N3.99, UBA jumped by 9.87 per cent to N35.05, Eunisell grew by 9.87 per cent to N6.79, and PZ Cussons gained 8.48 per cent to sell for N24.95.
Conversely, Oando lost 9.98 per cent to finish at N72.65, DAAR Communications declined by 9.68 per cent to 56 Kobo, Regency Assurance waned by 6.52 per cent to 43 Kobo, Veritas Kapital tumbled by 6.25 per cent to N1.20, and Guinea Insurance slumped by 4.26 per cent to 45 Kobo.
Investors bought and sold 3.6 billion shares worth N25.6 billion in 10,679 deals during the session compared with the 1.2 billion shares worth N14.2 billion traded in 10,386 deals on Monday, representing a rise in the trading volume, value, and number of deals by 191.67 per cent, 80.28 per cent, and 2.82 per cent, respectively.
The most traded stock for the day was Sovereign Trust Insurance with the sale of 2.5 billion units for N1.4 billion, NEM Insurance transacted 563.8 million units valued at N4.0 billion, UBA exchanged 202.0 million units worth N6.7 billion, Zenith Bank traded 46.4 million units worth N2.0 billion, and Veritas Kapital sold 34.7 million units for N42.0 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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