Economy
Customs Street Down 0.24% Amid Selling Spree by Investors
By Dipo Olowookere
Customs Street came under massive sell-offs on Tuesday, triggered by the rebalancing of portfolios by investors, leading to a 0.24 per cent decline at the close of business.
None of the five major market segments ended in the green territory during the trading session as the closest, the industrial goods space, closed flat.
The insurance counter depreciated by 7.68 per cent, the banking index shrank by 0.64 per cent, the consumer goods sector tumbled by 0.38 per cent, and the energy counter declined by 0.10 per cent.
Consequently, the All-Share Index (ASI) plunged by 249.42 points to 103,398.82 points from 103,648.24 points and the market capitalisation tumbled by N153 billion to close at N63.051 trillion compared with the previous day’s N63.204 trillion.
Business Post reports that investor sentiment turned bearish yesterday as a result of profit-taking, resulting in a negative market breadth index after the Nigerian Exchange (NGX) Limited recorded 19 price gainers and 51 price losers.
FTN Cocoa, RT Briscoe, and Veritas Kapital lost 10.00 per cent each to trade at N1.80, N2.70, and N1.53, respectively, as Sunu Assurances shed 9.98 per cent to quote at N10.01, and Cornerstone Insurance also waned by 9.98 per cent to N4.15.
The duo of PZ Cussons and Abbey Mortgage Bank gained 10.00 per cent each to settle at N27.50, and N3.63, Learn Africa improved by 9.90 per cent to N5.44, NCR Nigeria jumped by 9.77 per cent to N7.30, and NGX Group soared by 9.72 per cent to N29.90.
Yesterday, investors bought and sold 1.1 billion shares worth N14.6 billion in 16,617 deals versus the 856.0 million shares valued at N13.3 billion traded in 16,505 deals on Monday, representing a rise in the trading volume, value, and number of deals by 29.94 per cent, 9.77 per cent, and 0.68 per cent, respectively.
The activity chart was led by FBN Holdings with 161.5 million equities worth N4.7 billion, AIICO Insurance exchange 120.7 million shares valued at N225.4 million, Tantalizers traded 104.8 million stocks for N267.4 million, Universal Insurance transacted 93.8 million shares valued at N78.1 million, and Regency Alliance sold 47.3 million equities worth N44.6 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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