Economy
Investors Sell Off Stocks After CBN Rate Hike
By Dipo Olowookere
The local bourse weakened by 0.09 per cent on Wednesday due to profit-taking by investors after the Central Bank of Nigeria (CBN) increased the key interest rate by 100 basis points to 17.5 per cent at the end of the first Monetary Policy Committee (MPC) meeting of 2023.
It was observed that blue-chip stocks like GTCO, Nigerian Breweries and others were battered during the session, contributing to the downfall of the market.
From an analysis of the market data, the consumer goods sector went down by 1.21 per cent, the insurance counter dropped 0.13 per cent, the industrial goods index gained 0.36 per cent, and the banking space grew by 0.32 per cent, with the energy sector closing flat.
At the close of business, the All-Share Index (ASI) decreased by 45.14 per cent to 52,612.55 points from 52,657.69 points, while the market capitalisation shed N24 billion to end at N28.657 trillion compared with the previous day’s N28.681 trillion.
Amid the bearish outcome, the market breadth finished positive as there were 20 price gainers and 14 price losers, representing a strong investor sentiment.
Nigerian Breweries lost 9.90 per cent to trade at N41.85, Caverton depreciated by 9.52 per cent to 95 Kobo, Champion Breweries declined by 8.00 per cent to N4.60, Coronation Insurance shed 6.67 per cent to 42 Kobo, and Nigerian Exchange (NGX) Group fell by 5.93 per cent to N25.40.
On the flip side, Mutual Benefits gained 10.00 per cent to quote at 33 Kobo, Unilever Nigeria appreciated by 9.91 per cent to N12.20, C&I Leasing grew by 9.84 per cent to N3.46, ABC Transport went up by 9.68 per cent to 34 Kobo, and International Energy Insurance increased by 8.16 per cent to 53 Kobo.
Business Post reports that Geregu Power was the most traded stock as it transacted 23.8 million units, Access Holdings traded 17.3 million units, Transcorp exchanged 16.7 million units, Chams sold 15.3 million units, and UBA transacted 12.7 million units.
A total of 182.4 million shares worth N4.8 billion exchanged hands in 3,470 deals during the session, in contrast to the 143.7 million shares worth N1.8 billion in 4,078 deals on Monday, indicating a decline in the number of deals by 14.91 per cent, and an increase in the trading volume and value by 26.90 per cent, and 166.67 per cent, respectively.
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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