Economy
Investors Sustain Profit-Taking as NGX Index Drops 0.92%
By Dipo Olowookere
Profit-taking on the floor of the Nigerian Exchange (NGX) Limited was maintained on Wednesday and this time, it was more on the banking and energy stocks.
The situation watered down the value of Stanbic IBTC by 10.00 per cent during the session, closing at N45 and was trailed by CWG, which lost 9.61 per cent to settle at N2.07.
Unilever Nigeria declined by 8.21 per cent to sell for N12.30, Courtville went down by 8.00 per cent to 23 kobo, while International Breweries dropped 7.02 per cent to trade at N5.30.
Business Post reports that at the close of the market for the midweek session, there were 22 price losers, while the price gainers were just 16 led by Lasaco Assurance, which appreciated by 9.62 per cent to quote at N1.71.
Linkage Assurance gained 9.43 per cent yesterday to sell at 58 kobo, Caverton improved by 9.09 per cent to N1.92, Sterling Bank rose by 8.11 per cent to N1.60, while Regency Alliance Insurance gained 6.67 per cent to finish at 32 kobo.
Only one of the key sectors of the market, industrial goods, closed positive on Wednesday and it grew by 0.29 per cent, while the insurance sector closed flat, with energy, banking and consumer goods counters depreciating by 2.29 per cent, 1.69 per cent and 0.52 per cent respectively.
The stock market depreciated by 0.92 per cent yesterday, with the All-Share Index (ASI) going down by 367.97 points to 39,433.81 points from 39,801.78 points and the market capitalisation depreciating by N192 billion to N20.638 trillion from N20.830 trillion.
Business Post observed that FBN Holdings further witnessed sell-offs as a result of its recent board crisis, which saw the overhauling of the team by the Central Bank of Nigeria (CBN).
Yesterday, it again closed as the most traded stock on the NGX with the sale of 71.3 million units valued at N523.8 million and was trailed by Access Bank, which announced the commencement of operations in South Africa. The lender sold 40.9 million units valued at N310.0 million during the session.
Eko Corporation traded 40.0 million shares worth N236.0 million, Zenith Bank exchanged 25.0 million stocks for N544.4 million, while UBA transacted 18.1 million equities valued at N130.3 million.
When trading activities were rounded up on Wednesday, a total of 349.6 million shares worth N3.5 billion exchanged hands in 4,554 deals as against the 426.5 million stocks worth N4.7 billion traded in 5,616 deals on Tuesday.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn