Economy
Customs Street Rebounds by 0.35% as Investors Rush Nigerian Stocks
By Dipo Olowookere
A 0.35 per cent growth was recorded by Customs Street on Tuesday, reversing the loss recorded in the preceding session as appetite for Nigerian stocks surged.
Renewed interest in financial and energy equities influenced the appreciation posted by the Nigerian Exchange (NGX) Limited during the session.
Data obtained from the bourse showed that the consumer goods and industrial goods sectors went down by 0.80 per cent and 0.35 per cent, respectively, as the banking index grew by 1.70 per cent, the energy counter expanded by 1.07 per cent, and the insurance space increased by 0.15 per cent.
At the close of business, the All-Share Index (ASI) grew by 345.69 points to 98,225.63 points from 97,879.94 points, and the market capitalisation moved up by 0.27 per cent or N149 billion to N55.553 trillion from N55.404 trillion.
Unlike the preceding session, the level of activity improved yesterday, with the trading volume, value, and the number of deals rising by 99.21 per cent, 192.16 per cent, and 7.30 per cent, respectively.
This was because traders transacted 552.2 million equities valued at N15.9 billion in 9,350 deals versus the 277.2 million equities worth N5.1 billion traded in 8,714 deals a day earlier.
GTCO was the busiest stock for the session after selling 245.5 million units for N8.0 billion, FBN Holdings transacted 45.5 million units worth N1.1 billion, Access Holdings traded 42.9 million units valued at N728.0 million, Transcorp exchanged 36.1 million units valued at N502.4 million, and UBA sold 22.4 million units for N537.7 million.
Business Post reports that investor sentiment remained bullish on Tuesday after the bourse ended with 28 price gainers and 18 price losers, indicating a positive market breadth index.
The quartet of Learn Africa, UAC Nigeria, NAHCO, and CAP appreciated by 10.00 per cent each to settle at N3.30, N14.85, N36.30, and N28.60, respectively, while Conoil rose by 9.96 per cent to N99.95.
On the flip side, Dangote Sugar lost 9.95 per cent to trade at N38.90, CWG depreciated by 9.82 per cent to N5.05, Vitafoam fell by 9.81 per cent to N17.00, Honeywell Flour shrank by 9.74 per cent to N3.15, and University Press declined by 9.60 per cent to N2.26.
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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