Economy
Conoil, Airtel Africa, Lift Stock Market by 0.78% Amid Weak Sentiment
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited rebounded on Monday by 0.78 per cent amid a weak investor sentiment caused by uncertainties in the macroeconomic environment.
Buying interest in most of the sectors of the bourse lifted the stock market yesterday as traders keep an eye on the presidential election this weekend in Nigeria.
Apart from the industrial goods space, which depreciated by 0.05 per cent, every other sector closed in the positive region at the close of transactions.
The energy index appreciated by 0.86 per cent, the baking counter improved by 0.18 per cent, the insurance ecosystem went up by 0.13 per cent, and the consumer goods sector grew by 0.02 per cent.
Consequently, the All-Share Index (ASI) moved up by 419.89 points to 54,224.35 points from 53,804.46 points, as the market capitalisation increased by N229 billion to N29.539 trillion from N29.310 trillion.
The market breadth was negative yesterday despite the growth posted by the exchange, as there were 14 price gainers and 15 price losers.
Conoil gained 9.93 per cent to finish at N38.75, CWG appreciated by 9.88 per cent to 89 Kobo, John Holt rose by 9.77 per cent to N1.46, Living Trust Mortgage Bank improved by 9.57 per cent to N2.52, and Tripple Gee expanded by 9.55 per cent to N2.18.
Conversely, Capital Hotels lost 9.42 per cent to settle at N2.50, Vitafoam depreciated by 7.18 per cent to N19.40, Chams fell by 6.90 per cent to 27 Kobo, NAHCO went down by 3.57 per cent to N8.10, and Ecobank decreased by 2.83 per cent to N12.00.
At the close of business, investors traded 154.6 million shares worth N5.5 billion in 3,095 deals, in contrast to the 172.9 million shares worth N3.8 billion traded in 3,077 deals in the preceding session, indicating a decline in the trading volume by 10.58 per cent, an improvement in the trading value and the number of deals by 44.74 per cent, and 0.58 per cent, respectively.
Business Post reports that GTCO was the most active stock during the session, as it sold 36.7 million units. Zenith Bank traded 30.3 million units, AIICO Insurance transacted 8.3 million units, Axa Mansard traded 7.8 million units, and Living Trust Mortgage Bank exchanged 6.3 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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