Economy
Dangote Cement, MTN Shares Pull Down Market by 2.26%
By Dipo Olowookere
Shares of Dangote Cement, MTN Nigeria and 13 others further weakened the Nigerian Exchange (NGX) Limited on Tuesday by 2.26 per cent as investors continue to rebalance their portfolios in order to reduce their risk in equity investments.
The sustained sell-offs in this asset class trimmed the All-Share Index (ASI) by 1,139.02 points yesterday to 49,350.71 points from 50,489.73 points as the market capitalisation decreased by N615 billion to N26.618 trillion from N27.233 trillion.
Cornerstone Insurance recorded the biggest fall on Tuesday, dropping 9.33 per cent to close at 68 Kobo and was trailed by Dangote Cement, which declined by 9.06 per cent to N241.00. Japaul went down by 8.11 per cent to 34 Kobo, Sovereign Trust Insurance reduced by 7.41 per cent to 25 Kobo, while Stanbic IBTC retreated by 6.45 per cent to N29.00.
On the other side, Prestige Assurance gained 10.00 per cent to quote at 44 Kobo, NEM Insurance grew by 10.00 per cent to N3.74, Ellah Lakes rose by 9.78 per cent to N3.93, Multiverse appreciated by 9.57 per cent to N2.06, while Ikeja Hotel improved by 9.28 per cent to N1.06.
In the end, a total of 15 stocks weakened in value during the session, while 12 stocks gained strength, indicating a negative market breadth and a weak investor sentiment.
Analysis of the sectorial performance showed that the industrial goods counter was responsible for the loss yesterday as its index went down by 4.83 per cent. Its consumer goods cousin fell by 0.29 per cent, while the energy sector dropped 0.27 per cent, with the banking and insurance sectors appreciating by 0.60 per cent and 0.24 per cent respectively.
Japaul was the busiest during the trading day as it sold 23.2 million stocks worth N9.0 million and was trailed by AIICO Insurance, which traded 14.9 million shares valued at N8.5 million. Sterling Bank exchanged 14.3 million equities for N21.4 million, Sovereign Trust Insurance traded 10.1 million shares for N2.6 million, while GTCO traded 7.9 million equities valued at N161.0 million.
At the close of trades, 140.6 million shares worth N1.6 billion were transacted in 3,895 deals in contrast to the 207.2 million shares worth N2.1 billion transacted in 4,234 deals on Monday. This implied that the volume of shares, the value of shares and the number of deals depreciated by 32.14 per cent, 24.50 per cent and 8.01 per cent respectively.
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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