Economy
Local Bourse Gains N186bn as Banking Stocks Attract Investors
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited appreciated by 0.51 per cent, as investors reacted positively to the half-year earnings of a few companies, which released the financial statements for the period ended June 30, 2023.
One of the latest to drop its earnings is Stanbic IBTC, which is paying an interim dividend to its shareholders.
This spurred interests in banking stocks on Tuesday, resulting in the All-Share Index (ASI) rising to a 15-year high after it moved up by 338.96 points to 66,490.34 points from 66,151.38 points.
Similarly, the market capitalisation of the bourse increased during the session by N186 billion to settle at N36.391 trillion compared with Monday’s N36.205 trillion.
Business Post reports that the banking, consumer goods and the industrial goods counters appreciated yesterday by 1.63 per cent, 0.99 per cent, and 0.21 per cent, respectively, while the insurance and the energy sector fell by 1.56 per cent, and 0.09 per cent apiece.
Investor sentiment, based on the market breadth index, which was positive, remained bullish on Tuesday as the stock exchange ended the session with 34 price gainers and 32 price losers.
Flour Mills and Champion Breweries topped the gainers’ chart during the trading day after they rose by 10.00 per cent each to N33.00 and N3.19 apiece. NASCON gained 9.96 per cent to close at N54.10, Dangote Sugar appreciated by 9.95 per cent to N57.45, and NAHCO increased by 9.95 per cent to N22.10.
On the flip side, Linkage Assurance and CWG lost 10.00 per cent each to settle at 90 Kobo and N4.05 per cent apiece, as Chellarams fell by 9.85 per cent to N3.57, Prestige Assurance declined by 9.80 per cent to 46 Kobo, and University Press depreciated by 9.66 per cent to N2.15.
The level of activity showed renewed confidence investors have in the local stock market, as the 437.0 million stocks worth N7.0 billion exchanged hands in 7,932 deals compared with the 311.1 million stocks worth N3.9 billion traded in 7,193 deals on Monday, representing a jump in the trading volume, value, and the number of deals by 40.47 per cent, 79.49 per cent, and 10.27 per cent, respectively.
FBN Holdings was the most active stock with 55.2 million units valued at N911.2 million, Japaul traded 33.1 million units worth N29.9 million, UBA exchanged 30.2 million units worth N412.2 million, Access Holdings transacted 25.4 million units valued at N414.4 million, and Transcorp sold 18.2 million units for N127.7 million.
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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