Economy
Equity Investors Gain N98bn on Bullish Market Sentiment
By Dipo Olowookere
The mood of investors concerning the equity market was bullish on Tuesday, causing the Nigerian Exchange (NGX) Limited to close higher by 0.15 per cent.
Customs Street recorded 38 appreciating stocks and 23 depreciating stocks during the trading sentiment, representing a positive market breadth index.
Universal Insurance chalked up 10.00 per cent yesterday to sell for 66 Kobo, Red Star Express also rose by 10.00 per cent to N5.50, Beta Glass gained 9.98 per cent to settle at N86.50, Northern Nigeria Flour Mills improved by 9.98 per cent to N73.30, and Chellaram expanded by 9.89 per cent to N7.89.
Conversely, Ikeja Hotel lost 9.55 per cent to quote at N9.95, NEM Insurance shed 6.59 per cent to trade at N12.05, Sunu Assurance dropped 6.14 per cent to finish at N5.35, Consolidated Hallmark crumbled by 5.97 per cent to N3.15, and Royal Exchange slipped by 3.03 per cent to 96 Kobo.
A total 471.7 million shares worth N19.9 billion exchanged hands in 14,600 deals on Tuesday versus the 510.6 million shares valued at N13.3 billion traded in 14,611 deals on Monday, implying a fall in the trading volume and number of deals by 7.62 per cent, and 0.08 per cent, respectively, and a rise in the trading value by 49.62 per cent.
The most active stock for the day was FBN Holdings for selling 83.1 million units worth N2.4 billion, Zenith Bank exchanged 29.5 million units for N1.5 billion, Universal Insurance transacted 24.2 million units valued at N15.8 million, UAC Nigeria sold 21.2 million units worth N702.8 million, and GTCO traded 20.2 million units valued at N1.2 billion.
Business Post reports that the insurance and the energy sectors witnessed profit-taking on Tuesday, causing them to tumble by 0.52 per cent and 0.01 per cent, respectively.
However, the consumer goods index appreciated by 0.16 per cent, the industrial goods space grew by 0.05 per cent, and the banking counter improved by 0.03 per cent.
Consequently, the All-Share Index (ASI) jumped by 158.05 points to 104,788.35 points from 104,630.30 points and the market capitalisation leapt by N98 billion to N64.890 trillion from N64.792 trillion.
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