Economy
Customs Street Loses N216bn Despite Positive GDP Data
By Dipo Olowookere
Data from the National Bureau of Statistics (NBS) that Nigeria’s Gross Domestic Product (GDP) improved by 3.84 per cent in the fourth quarter of 2024 could not lift the Nigerian Exchange (NGX) Limited on Tuesday.
Investors continued their panic selling yesterday, leaving Customs Street to sink deeper by 0.32 per cent at the close of transactions.
The profit-taking was across all the main sectors of the bourse, with the insurance space declining by 3.52 per cent and the energy counter losing 1.04 per cent.
Further, the banking sector went down by 0.56 per cent, the consumer goods index tumbled by 0.22 per cent, while the industrial goods and the commodity sectors lost 0.02 per cent apiece.
Consequently, the All-Share Index (ASI) moderated by 345.36 points to settle at 107,781.61 points compared with Monday’s 108,126.97 points, and the market capitalisation retreated by N216 billion to N67.168 trillion from the previous day’s N67.384 trillion.
There were 13 appreciating stocks and 49 depreciating stocks at the NGX during the session, representing a negative market breadth index and weak investor sentiment.
Honeywell Flour fell by 10.00 per cent to N11.25, Morison Industries declined by 9.97 per cent to N3.25, University Press eased by 9.90 per cent to N4.55, International Energy Insurance crashed by 9.75 per cent to N2.13, and Oando lost 9.72 per cent to settle at N52.00.
On the flip side, Smart Products Nigeria gained 10.00 per cent to close at 33 Kobo, NGX Group chalked up 9.97 per cent to finish at N32.00, Red Star Express appreciated by 9.57 per cent to N7.33, ABC Transport grew by 8.13 per cent to N1.33, and NPF Microfinance Bank increased by 5.14 per cent to N1.84.
Access Holdings was the most active equity yesterday with 36.9 million units sold for N945.6 million, Jaiz Bank traded 23.0 million units worth N76.6 million, Zenith Bank transacted 18.4 million units valued at N884.2 million, AXA Mansard exchanged 17.1 million units for N153.4 million, and Guinness Nigeria traded 14.9 million units valued at N1.1 billion.
When the market closed for the day, a total of 363.0 million shares worth N10.1 billion exchanged hands in 13,753 deals versus the 357.8 million shares valued at N9.2 billion traded in 15,914 deals a day earlier, implying a decline in the number of deals by 13.58 per cent, and a rise in the trading volume and value by 1.45 per cent, and 9.78 per cent, respectively.
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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