Economy
GTCO, Others Restore Stability to Stock Market by 1.63%
By Dipo Olowookere
Normalcy returned to the Nigerian Exchange (NGX) Limited on Thursday with a 1.63 per cent growth after two days of selling pressure, which made the bears dominate the market.
Gains reported by shares in the financial and consumer goods sectors lifted the bourse during the session as investors chewed on the new policies of the Central Bank of Nigeria (CBN) to address the foreign exchange (FX) crisis in the country, which has contributed to high inflation.
The banking counter increased yesterday by 7.82 per cent, the consumer goods index appreciated by 4.37 per cent, the insurance sector grew by 2.18 per cent, the industrial goods space gained 0.35 per cent, and the energy counter advanced by 0.02 per cent.
As a result, the All-Share Index (ASI) was elevated by 1,647.80 points to 102,802.25 points from 101,154.45 points, and the market capitalisation went up by N902 billion to close at N56.260 trillion compared with the previous day’s N55.358 trillion.
Investor sentiment turned bullish during the trading day after 53 stocks ended on the gainers’ chart and 18 stocks finished on the losers’ table, implying a positive market breadth index.
The quartet of Caverton, Chams, GTCO, and Veritas Kapital appreciated by 10.00 per cent each to trade at N1.87, N2.64, N40.70, and 66 Kobo apiece, as NASCON gained 9.98 per cent to close at N67.75.
Conversely, Deap Capital weakened by 9.88 per cent to 73 Kobo, CWG declined by 9.87 per cent to N6.85, RT Briscoe lost 9.86 per cent to trade at 64 Kobo, University Press depleted by 9.76 per cent to N3.33, and McNichols crashed by 9.43 per cent to N1.44.
Business Post reports that Universal Insurance was the most active stock on Thursday, selling 113.8 million units for N42.5 million, Transcorp traded 91.0 million units worth N1.2 billion, Zenith Bank exchanged 74.3 million units valued at N2.8 billion, UBA transacted 69.2 million units worth N1.7 billion, and Veritas Kapital traded 58.7 million units valued at N36.0 million.
When trading activities were wrapped up for the day, investors had bought and sold 861.0 million equities valued at N12.2 billion in 12,851 deals as against the 749.1 million equities worth N22.5 billion traded in 14,288 deals in the midweek session, representing a rise in the volume of transactions by 14.94 per cent, a decline in the value of transactions by 45.78 per cent, and a decrease in the number of deals by 10.06 per cent.
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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