Economy
Banking, Energy Stocks Slurp N126bn from Nigerian Exchange
By Dipo Olowookere
The bears tightened their grip on the Nigerian Exchange (NGX) Limited on Tuesday, chopping off 0.34 per cent from the local bourse despite assurances from Mr Yemi Cardoso he would endeavour to ensure the Central Bank of Nigeria (CBN) restores its independence.
Mr Cardoso was confirmed as the new CBN Governor by the Senate yesterday and he promised to formulate evidence-based monetary policies, a departure from his predecessor, Mr Godwin Emefiele, who was accused of romancing the President and coming up with trial-and-error policies.
Business Post reports that investors were more interested in trimming their exposure to domestic equities during the session, especially in the banking and energy sectors.
This resulted in the banking index going down by 1.40 per cent, the energy counter losing 1.24 per cent, and the industrial goods space shedding 0.36 per cent.
The trio overpowered the 2.18 per cent growth posted by the insurance sector and the 0.16 per cent rise recorded by the consumer goods counter.
Consequently, the All-Share Index (ASI) went down by 230.47 points to 66,652.17 points from 66,882.64 points, and the market capitalisation depreciated by N126 billion to N36.479 trillion from Monday’s N36.605 trillion.
The market breadth was at equilibrium during the session after the exchange finished with 22 price gainers and 22 price losers led by Conoil, which lost 9.99 per cent to trade at N80.20.
FTN Cocoa declined by 9.95 per cent to N1.72, Oando depreciated by 9.81 per cent to N9.65, Berger Paints fell by 8.63 per cent to N11.65, and Lasaco Assurance shrank by 8.42 per cent to N1.85.
On the flip side, Cornerstone Insurance and Consolidated Hallmark Insurance led the advancers’ party after they chalked up 10.00 per cent each to close at N1.65 and N1.10 apiece.
UPDC REIT rose by 9.86 per cent to finish at N3.90, Beta Glass improved its value by 9.85 per cent to close at N51.30, and Courteville gained 9.09 per cent to quote at 60 Kobo.
Access Holdings topped the activity chart after it traded 50.0 million shares valued at N784.9 million, Transcorp transacted 48.5 million equities worth N291.2 million, UBA sold 45.7 million stocks for N787.4 million, Zenith Bank exchanged 21.6 million stocks valued at N681.6 million, and FTN Cocoa traded 15.8 million shares worth N28.1 million.
At the close of transactions, investors bought and sold 364.0 million equities valued at N4.5 billion in 7,018 deals versus the 408.2 million equities valued at N5.4 billion traded in 7,707 deals a day earlier.
This showed that the volume of trades, the value of transactions and the number of deals went down on Tuesday by 10.83 per cent, 16.67 per cent, and 8.94 per cent, respectively.
The stock market will not open for business today because of the public holiday declared by the federal government to observe Eid-ul-Maulud.
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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