Economy
Dangote Sugar, 29 Others Constipate NGX by 0.49%
By Dipo Olowookere
Customs Street was down by 0.49 per cent on Monday after investor sentiment turned bearish following profit-taking ahead of rate-setting announcement later today.
The Nigerian Exchange (NGX) Limited came under selling pressure yesterday as traders anticipate a slight hike in the Monetary Policy Rate (MPR) to keep hot money flowing into the country to continue to strengthen the Naira in the foreign exchange (FX) market.
Last month, the Central Bank of Nigeria (CBN) through its Monetary Policy Committee (MPC) raised the benchmark interest rate by 400 basis points or 4.00 per cent to 22.75 per cent.
Since then, the fixed-income market has been very busy with government securities attracting the need dollars to firm the local currency.
As investors await the outcome of the MPC meeting, which commenced on Monday, those in the equity market liquidated their shares, possible to dump into the fixed-income space.
As a result, the All-Share Index (ASI) decreased by 511.02 points to 104,136.35 points from 104,647.37 points, and the market capitalisation dropped 289 billion to settle at N58.880 trillion versus last Friday’s N59.169 trillion.
The market breadth index was negative as the NGX ended the trading session with 20 price gainers and 30 price losers led by Dangote Sugar and International Energy Insurance, which lost 10.00 per cent each to sell for N53.10 and N1.35, Jaiz Bank fell by 9.92 per cent to N2.18, Ikeja Hotel crumbled by 9.72 per cent to N5.85, and Deap Capital slid by 9.52 per cent to 57 Kobo.
On the flip side, Ellah Lakes gained 10.00 per cent to quote at N3.63, Morison Industries jumped by 9.93 per cent to N1.55, Sunu Assurances appreciated by 9.48 per cent to N1.27, Caverton advanced by 9.37 per cent to N1.75, and Sovereign Trust Insurance rose by 9.09 per cent to 48 Kobo.
Business Post reports that the energy and industrial goods sectors closed flat yesterday, the insurance space improved by 0.21 per cent, while the banking and consumer goods sectors collapsed by 1.72 per cent and 0.83 per cent, respectively.
A total of 306.8 million shares worth N11.4 billion were traded in 9,343 deals on the first session of the week compared with the 505.2 million shares worth N14.2 million traded in the preceding session in 9,574 deals, representing a decline in the trading volume, value, and the number of deals by 39.27 per cent, 19.72 per cent, and 2.41 per cent apiece.
The Nigerian Infrastructure Debt Fund (NIDF) topped the activity chart with 35.6 million units sold for N4.1 billion, Jaiz Bank transacted 23.2 million units worth N52.6 million, UBA exchanged 19.5 million units valued at N519.3 million, Nigerian Breweries traded 17.4 million units worth N489.2 million, and Access Holdings sold 15.3 million units valued at N363.9 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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