Economy
Equity Market Sinks 0.35% as Traders Offload Oando, FBN Holdings
By Dipo Olowookere
The equity market reacted to the release of the much-awaited financial statements of Oando Plc on Tuesday, closing lower by 0.35 per cent, erasing the gains recorded a day earlier.
The investing community had been on the lookout for the financial results of the energy firm, especially after the Securities and Exchange Commission (SEC) came hard on the company a few years ago over allegations of tampering with the documents to deceive investors.
Yesterday, the organisation, led by Mr Wale Tinubu, released some of its unaudited financial statements and the stocks came under selling pressure, landing on the losers’ chart at the close of transactions.
Business Post reports that Honeywell Flour topped the group after it lost 9.89 per cent to quote at N3.19, FBN Holdings depreciated by 9.88 per cent to N21.90, Oando shrank by 9.82 per cent to N10.10, FTN Cocoa retreated by 9.40 per cent to N1.35, and Nestle Nigeria cracked by 8.89 per cent to N820.00.
On the flip side, Sunu Assurances grew by 10.00 per cent to N1.10, Japaul rose by 9.84 per cent to N2.01, CAP expanded by 9.38 per cent to N26.25, Omatek increased by 9.21 per cent to 83 Kobo, and Prestige Assurance surged by 9.09 per cent to 60 Kobo.
When trading activities ended for the session at 2:30 pm on Tuesday, investor sentiment was bearish as 16 equities appreciated and 25 equities depreciated, implying a negative market breadth index.
The All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited was down by 353.51 points to 99,311.54 points from 99,665.05 points, and the market capitalisation declined by N200 billion to N56.167 trillion from N56.367 trillion.
The banking counter lost 2.94 per cent during the session, the consumer goods index shed 0.80 per cent, and the insurance sector declined by 0.51 per cent, while the industrial goods space appreciated by 0.30 per cent, with the energy sector flat.
The volume of shares increased by 87.35 per cent to 574.4 million units from 306.6 million units, the value of shares jumped by 47.17 N7.8 billion from N5.3 billion, and the number of deals went down by 11.74 per cent to 7,324 deals from 8,298 deals.
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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