Economy
Dangote Cement’s Buy-Back Info Lifts NGX by 1.71%
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited rebounded by 1.71 per cent on Wednesday on the back of news of Dangote Cement commencing the second tranche of its buy-back scheme.
The exchange had recorded its first loss in 2022 on Tuesday but returned to the bullish territory the next day after the Dangote Cement buy-back info.
This pushed the All-Share Index (ASI) higher by 749.52 points to 44,608.82 points from 43,859.30 points and raised the market capitalisation by N403 billion to N24.034 trillion from N23.631 trillion.
The stock market closed the midweek session with 24 price gainers led by Jaiz Bank and Academy Press, which grew by 10.00 per cent each to 66 kobo and 66 kobo respectively.
Unity Bank appreciated 8.70 per cent to 50 kobo, Sovereign Trust Insurance rose by 8.33 per cent to trade at 26 kobo, while Mutual Benefits appreciated by 7.41 per cent to 29 kobo.
However, there were 15 price losers yesterday led by Consolidated Hallmark Insurance and Regency Assurance, which fell by 8.70 per cent respectively to 63 kobo and 42 kobo apiece.
Furthermore, Sunu Assurances depreciated by 8.11 per cent to trade at 34 kobo, AIICO Insurance went down by 3.70 per cent to 78 kobo, while Neimeth declined by 3.23 per cent to N1.80.
Unlike the preceding session, only the insurance sector closed bearish on Wednesday, falling by 0.49 per cent.
The industrial goods space rose by 3.06 per cent, the energy counter gained 1.37 per cent, the banking index improved by 0.39 per cent, while the consumer goods sector went up by 0.14 per cent.
Despite the growth witnessed yesterday by the bourse, the level of activity was not impressive as the trading volume and value declined by 9.58 per cent and 43.53 per cent respectively, while the number of deals increased by 0.02 per cent.
A total of 266.3 million shares valued at N3.8 billion were traded in 4,502 deals yesterday compared with the 294.5 million shares worth N6.8 billion transacted in 4,501 deals a day earlier.
A further look into the chart showed that Transcorp dominated trading on Wednesday, closing as the most active with a turnover of 89.0 million stocks valued at N89.9 million.
FBN Holdings transacted 30.5 million shares worth N365.7 million, Jaiz Bank exchanged 14.2 million equities for N9.0 million, Sterling Bank traded 11.7 million stocks for N17.7 million, while GTCO transacted 9.8 million equities valued at N250.3 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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn