Economy
Investors Remove N145bn from Stock Market for Christmas Holidays
By Dipo Olowookere
The local bourse depreciated by 0.36 per cent on Friday due to profit-taking by investors ahead of the Christmas holidays next Monday and Tuesday.
The panic sell-offs occurred after traders offloaded stocks that had gained weight in the past few trading sessions, fearing that the unexpected may happen anytime time soon.
The Nigerian Exchange (NGX) Limited has been blowing hot in the past few days, performing beyond expectations amid rising inflation and a harsh economy.
At the close of business yesterday, the All-Share Index (ASI) shrank by 265.75 points to 74,023.27 points from 74,289.02 points, and the market capitalisation declined by N145 billion to N40.507 trillion from N40.652 trillion.
Yesterday, the banking space lost 0.77 per cent, the consumer goods and the industrial goods sectors slumped by 0.03 per cent each, while the insurance counter gained 1.17 per cent, with the energy index closing flat.
Despite the stock market closing in the bearish territory, investor sentiment was bullish, with the market breadth index on the green size as there were 33 price gainers and 20 price losers.
Multiverse and Transcorp Hotels jumped by 10.00 per cent each to settle at N13.97, and N63.80, respectively, Infinity Trust Mortgage Bank grew by 9.95 per cent to N4.53, United Capital rose by 9.79 per cent to N23.00, and DAAR Communications appreciated by 9.52 per cent to 69 Kobo.
On the flip side, Consolidated Hallmark shed 8.73 per cent to trade at N1.15, International Breweries declined by 8.33 per cent to N4.40, Prestige Assurance weakened by 7.84 per cent to 47 Kobo, ABC Transport lost 7.32 per cent to quote at 76 Kobo, and Guinea Insurance fell by 6.90 per cent to 27 Kobo.
During the session, investors bought and sold 423.3 million stocks worth N16.6 billion in 6,333 deals compared with 760.9 million stocks worth N13.0 billion traded in 7,990 deals a day earlier, implying an increase in the trading value by 27.69 per cent, a decline in the trading volume by 44.37 per cent, and a fall in the number of deals by 20.74 per cent.
At the close of trades, Universal Insurance topped the activity chart with the sale of 41.9 million shares valued at N11.0 million, Transcorp also sold 41.9 million stocks for N383.1 million, Mutual Benefits transacted 30.2 million equities valued at N14.9 million, Jaiz Bank exchanged 27.6 million stocks for N43.2 million, and Zenith Bank traded 26.3 million equities valued at N1.0 billion.
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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