Economy
63 Equities Plunge NGX by 2.47% as Investors Take Out N884bn
By Dipo Olowookere
The bears dislodged the bulls at the Nigerian Exchange (NGX) Limited on Wednesday after days of unsuccessful attempts supported by bargain-hunting.
Yesterday, the bourse fell by 2.47 per cent as a result of profit-taking across the main sectors of the market, with sell-offs in some large and mid-cap equities.
Business Post reports that 63 shares depreciated in price during the trading session, and 12 shares appreciated in price at the close of transactions.
ABC Transport, eTranzact, Tantalizers, FBN Holdings, and Transcorp lost 10.00 per cent each in the midweek session to settle at 45 Kobo, N8.55, 27 Kobo, N19.35, and N4.23 apiece.
However, the duo of Deap Capital and Courteville rose by 10.00 per cent each to quote at 33 Kobo and 88 Kobo, respectively, as Golden Guinea Breweries improved by 9.88 per cent to N2.67, The Initiates expanded by 9.80 per cent to 56 Kobo, and Morison Industries gained 9.79 per cent to close at N2.58.
The insurance index depreciated by 5.42 per cent on Wednesday, the industrial counter shed 5.39 per cent, the banking sector fell by 2.61 per cent, the consumer goods space shrank by 0.77 per cent, and the energy sector went down by 0.45 per cent.
Consequently, the market capitalisation of the NGX depleted by N884 billion to N34.874 trillion from N35.758 trillion, and the All-Share Index (ASI) contracted by 1,622.36 points to 64,046.93 points from 65,669.29 points.
The desire of investors to quickly book profit raised the activity level higher yesterday, with the trading volume, value and the number of deals skyrocketing by 37.71 per cent, 35.11 per cent, and 55.55 per cent apiece.
This was because traders bought and sold 1.2 billion equities valued at N12.7 billion in 13,878 deals at the close of transactions, in contrast to the 844.7 million equities valued at N9.4 billion exchanged in 8,922 deals a day earlier.
UBA ended the trading day as the busiest stock after it posted a turnover of 177.8 million units worth N2.4 billion, followed by Japaul with 110.3 million units valued at N147.7 million. Transcorp traded 87.1 million shares valued at N380.7 million, FCMB sold 86.5 million equities for N577.9 million, and Access Holdings transacted 65.5 million stocks worth N1.1 billion.
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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