Economy
Investors Sell Stocks in Panic, Shift Focus to Bonds, Others
By Dipo Olowookere
Investors on the floor of the Nigerian Exchange (NGX) Limited embarked on a selling spree in panic on Monday amid the declines seen in the ecosystem lately.
Yesterday, the panic selling further battered the exchange by 1.97 per cent as stocks like Dangote Cement, GTCO, Lafarge Africa and 28 others closed in the red territory.
Only seven equities appreciated in price during the session as the risk appetite of traders continues to moderate amid stability in the fixed-income space, especially in terms of its interest rates.
On Monday, the Debt Management Office (DMO) sold FGN bonds at the primary market and it was observed that some investors liquidated their shares to purchase the government securities, which cleared at 13.15 per cent.
According to data from the bourse, the volume of equities transacted yesterday rose by 43.04 per cent to 345.0 million units from 241.2 million, the number of trades increased by 0.63 per cent to 5,075 deals from 5,043 deals, while the value of the transactions reduced by 16.15 per cent to N3.1 billion from N3.7 billion.
FCMB, which had an off-market deal of 148.7 million units consummated by CSL Stockbrokers, was the most traded stock after it sold 177.6 million units valued at N669.0 million.
UBA transacted 29.5 million shares worth N221.2 million, Access Holdings exchanged 22.0 million equities worth N206.4 million, FBN Holdings sold 12.6 million stocks for N114.0 million, while Transcorp traded 11.6 million shares for N14.3 million.
Union Bank and Dangote Cement finished the session as the worst-performing stocks as they lost 10.00 per cent each to trade at N5.40 and N249.30 respectively. Livestock Feeds depreciated by 9.77 per cent to N1.20, International Breweries fell by 9.60 per cent to N5.65, while Flour Mills declined by 8.57 per cent to N32.00.
The best-performing stock for the day was Jaiz Bank as its value went up by 5.32 per cent to 99 kobo, Regency Assurance gained 3.70 per cent to 28 kobo, Japaul appreciated by 3.33 per cent to 31 kobo, Zenith Bank rose by 2.80 per cent to N22.00, while NAHCO grew by 2.63 per cent to N7.80.
On the first trading session of the week, despite the sell-offs, the banking sector closed higher by 0.35 per cent and finished as the only gainer as the industrial goods, consumer goods, insurance and energy counters depreciated by 5.27 per cent, 1.16 per cent, 0.94 per cent and 0.23 per cent respectively.
Consequently, the All Share Index (ASI) retreated by 1,021.34 points to 50,756.74 points from 51,778.08 points, while the market capitalisation fell by N550 billion to N27.364 trillion from N27.914 trillion.
By Aduragbemi Omiyale
Shares of First Holdco Plc worth N45.0 billion issued through a private placement have been listed on the Nigerian Exchange (NGX) Limited.
A circular issued by the Head of Issuer Regulation Department of the NGX Regulation Limited, Mr Godstime Iwenekhai, disclosed that the equities were admitted for trading at the stock market on Monday.
According to the notice, the additional shares brought for listing to rank pari passu with existing shares of the organisation were 1,021,334,544 units.
These stocks were sold to one of the company’s major shareholders at a unit price of N44.06, amounting to N45.0 billion.
The total issued and fully paid-up shares of First Holdco, as a result of this listing, are now 45,475,027,677 ordinary shares of 50 Kobo each.
“Trading licence holders are hereby notified that an additional 1,021,334,544 ordinary shares of 50 Kobo each of First Holdco Plc were on Monday, June 22, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares listed on NGX arose from the company’s private placement of 1,021,334,544 ordinary shares of 50 Kobo each at N44.06 per share.
“With the listing of the additional shares, the total issued and fully paid-up shares of First Holdco Plc have now increased to 45,475,027,677 ordinary shares of 50 Kobo each from 44,453,693,133 ordinary shares of 50 Kobo each,” the disclosure stated.
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has approved fresh import licences for petrol and diesel for the third quarter of 2026 (July – September) to prevent potential supply shortages in the domestic market.
According to a report by global energy intelligence firm, Argus Media, the latest approvals were issued to major downstream operators amid declining fuel stock levels and concerns over reduced petrol production at the 700,000 barrels per day Dangote Petroleum Refinery in Lagos.
The move comes as Nigeria continues to balance increasing local refining capacity with the need to guarantee adequate supplies of petroleum products across the country.
According to the Argus report, domestic firms, including AA Rano, AYM Shafa, Bono Energy, Nipco, Matrix Energy and Pinnacle Oil, received permits to import Premium Motor Spirit, popularly known as petrol, during the July-September period.
The publication further reported that the same companies, with the exception of Nipco, were granted approvals to import Automotive Gas Oil, commonly known as diesel. The fresh approvals follow an earlier batch of petrol import permits issued by the regulator in May, covering about 720,000 metric tonnes.
Quoting a regulatory source, Argus noted that many of the companies granted the latest approvals were among those that had received permits in previous rounds. “These are some of the same ones that previously received the PMS permits,” the source was quoted as saying.
It was also claimed that AA Rano and Matrix Energy each received approvals to import 180,000 metric tonnes of petrol. AYM Shafa received approval for 120,000 metric tonnes, while Pinnacle Oil received a permit covering 150,000 metric tonnes.
For diesel imports, Argus reported that AYM Shafa obtained a permit for 60,000 metric tonnes, while Pinnacle secured approval for 45,000 metric tonnes. The report stated that the import approvals were issued only recently, after being delayed from an initial target date of June 15.
By Adedapo Adesanya
Three securities weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.01 per cent on Tuesday, June 23, dragging the market capitalisation down by N25.91 billion to N2.544 trillion from Monday’s N2.570 trillion. Also, the NASD Security Index (NSI) decreased by 43.17 points to 4,239.34 points from 4,282.51 points.
The triplet price losers were Central Securities Clearing System (CSCS) Plc, which gave up N4.82 to trade at N75.00 per unit versus Monday’s closing price of N79.82 per unit. NASD Plc depreciated by N3.70 to close at N33.30 per share compared with the preceding day’s N37.00 per share, and Nitrox Industrial Gases Plc marginally lost 1 Kobo to sell at N21.41 per unit, in contrast to the previous session’s N21.42 per unit.
Tuesday’s trading data showed that the volume of securities traded by investors retreated by 35.9 per cent to 211,671 units from 330,034 units, and the value of securities fell by 82.9 per cent to N5.6 million from N32.7 million, while the number of deals doubled to 38 deals from 19 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 68.1 million units transacted for N4.7 billion.
GNI Plc also closed the trading day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, trailed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
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