Economy
Interests in Banking, Industrial Goods Stocks Elevate NGX by 0.54%
By Dipo Olowookere
Trading activities on the floor of the Nigerian Exchange (NGX) Limited were bullish on Wednesday, with a rebound of 0.54 per cent influenced by buying interests in banking, insurance and industrial goods stocks, offsetting the losses in the energy and consumer goods equities.
The banking index appreciated by 4.21 per cent, the insurance space rose by 0.78 per cent, and the industrial goods sector improved by 0.36 per cent. However, the energy counter depreciated by 0.35 per cent, and the consumer goods sector went down by 0.24 per cent.
At the close of transactions, the All-Share Index (ASI) gained 238.69 points to close at 44,046.94 points, in contrast to the previous day’s 43,808.25 points, as the market capitalisation grew by N130 billion to finish at N23.991 trillion compared with Tuesday’s N23.861 trillion.
During the session, investors traded 159.4 million stocks worth N2.9 billion in 3,039 deals compared with the 103.5 million stocks worth N1.2 billion traded in 3,045 deals a day earlier, representing a decline in the number of deals by 0.20 per cent, an increase in the trading volume by 54.10 per cent, and an improvement in the trading value by 141.12 per cent.
Fidelity Bank was the busiest stock at the market yesterday after trading 28.0 million units, followed by GTCO, which sold 20.8 million units. Zenith Bank traded 14.0 million units, FBN Holdings exchanged 8.9 million units, and Unity Bank transacted 7.3 million units.
Business Post observed that amid the positive performance of the exchange in the midweek session, investor sentiment was still weak as the market breadth ended negative, with 21 price losers and 24 price gainers.
Cornerstone Insurance appreciated by 10.00 per cent to 44 Kobo, MRS Oil rose by 9.73 per cent to N14.10, Zenith Bank expanded by 8.46 per cent to N21.80, GTCO gained 6.63 per cent to quote at N19.30, and Lafarge Africa increased by 5.97 per cent to N21.30.
Conversely, Eterna recorded the heaviest loss after its value dropped 10.00 per cent to close at N5.67, Guinness Nigeria shed 9.98 per cent to N67.20, SCOA Nigeria declined by 9.49 per cent to settle at N1.43, Sunu Assurances fell by 9.38 per cent to 29 Kobo, and Courteville depreciated by 8.00 per cent to 46 Kobo.
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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