Economy
ASI Loses 1.04% as Offshore Investors Sell Off Nigerian Stocks
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited further lost 1.04 per cent on Thursday, making it the eighth consecutive trading day the market has been in the red territory.
Business Post observed that these recent sell-offs have been caused by the decision of some offshore investors to exit the market. This was triggered by the recent comments by the Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, that those who withdraw the Naira to buy Dollars would be prosecuted.
In order not to find themselves in a situation they will not be able to repatriate their funds, just like what happened in 2020, foreign portfolio investors are liquidating their Naira investments to save in a more stable currency like the greenback, causing the stock market to bleed excessively.
Yesterday, the All-Share Index (ASI) shed 521.41 points to settle at 49,667.14 points from 50,188.55 points, while the market capitalisation moderated by N281 billion to N26.784 trillion from N27.065 trillion.
Investor sentiment remained weak as a total of 10 stocks appreciated as 28 stocks recorded losses, with Lasaco Assurance depreciating by 10.00 per cent to sell for 90 Kobo.
Stanbic IBTC declined by 9.98 per cent to N28.40, Cadbury Nigeria fell by 9.94 per cent to N15.40, Nestle Nigeria dropped 9.84 per cent to trade at N1262.30, while Axa Mansard went down by 9.47 per cent to settle at N1.72.
Conversely, appreciated by 9.23 per cent to N3.55, RT Briscoe rose by 8.57 per cent to 38 Kobo, Chams grew by 8.33 per cent to 26 Kobo, Custodian Investment went up by 7.94 per cent to N6.80, while Livestock Feeds chalked up 4.35 per cent to close at N1.20.
During the session, the energy space gained 0.59 per cent, while the consumer goods index dropped 3.77 per cent, the banking index fell by 3.54 per cent, the insurance counter lost 3.19 per cent, while the industrial goods sector shed 0.46 per cent.
A total of 206.2 million shares worth N3.9 billion were bought and sold in 5,053 deals on Thursday as against the 829.5 million shares worth N4.1 billion exchanged in 4,977 deals on Wednesday, implying a decline in the trading volume and value by 75.14 per cent and 4.49 per cent respectively and an increase in the number of deals by 1.53 per cent.
The stock with the highest number of sales was Transcorp as it traded 38.5 million units valued at N39.0 million, followed by Zenith Bank with 16.9 million units worth N333.7 million, Chams with the sale of 13.6 million units for N3.3 million, GTCO with a turnover of 12.7 million units worth N244.8 million, and UBA with 12.6 million units valued at N86.9 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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