Economy
Market Down 1.24% as Investors Sell Off After Tinubu’s Remarks
By Dipo Olowookere
Trading activities on the floor of the Nigerian Exchange (NGX) Limited turned bearish on Monday following renewed profit-taking by investors.
The local bourse closed lower by 1.24 per cent on the first trading session of the week due to fresh selling pressure triggered by mixed feelings about the macroeconomic environment.
Investors were not too impressed with Nigeria’s outing at the G20 Summit in India.
President Bola Tinubu was invited to the programme by the Indian Prime Minister, Mr Narendra Modi. He disclosed that the group needed Nigeria because it is incomplete without the presence of the largest economy in Africa as a member.
“Nigeria is poised, able and willing to be a major player in this family of the G-20 and in shaping a new world, without whom the family will remain incomplete,” Mr Tinubu said.
The G20 is a group of the 20 most industrialised countries in the world, accounting for over 70 per cent of the global gross domestic product (GDP).
Back at the stock market, traders were not impressed by Mr Tinubu’s comments, and they sold off some of the equities in their portfolios across the sectors, leading to the decline in the All-Share Index (ASI) by 847.16 points to 67,296.18 points from 68,143.34 points, and a fall in the market capitalisation by N463 billion to N36.832 trillion from N37.295 trillion.
Business Post reports that the banking, insurance, consumer goods, industrial goods, and energy counters went down by 6.11 per cent, 2.07 per cent, 1.45 per cent, 0.28 per cent, and 0.10 per cent apiece.
This left the bourse with 16 price gainers and 43 price losers, indicating a weak investor sentiment and a negative market breadth index.
eTranzact, Secure Electronic Technology and NASCON led the laggards’ group after they shed 10.00 per cent each to settle at N9.00, 27 Kobo, and N52.20 apiece, Dangote Sugar lost 9.98 per cent to close at N57.75, and Learn Africa depreciated by 9.86 per cent to quote at N3.29.
Conversely, Northern Nigerian Flour Mills topped the advancers’ table after it improved by 9.96 per cent to N13.25, Oando increased by 9.74 per cent to N8.45, CWG grew by 9.00 per cent to N6.30, NPF Microfinance Bank appreciated by 8.20 per cent to N1.98, and RT Briscoe appreciated by 7.32 per cent to 44 Kobo.
Yesterday, traders bought and sold 520.1 million shares worth N8.3 billion in 9,914 compared with the 483.5 million shares valued at N8.3 billion traded in 6,660 deals last Friday, showing that the trading volume and the number of deals rose by 7.57 per cent and 48.86 per cent apiece, and the trading value closed flat.
UBA was the busiest stock for selling 73.9 million units valued at N1.1 billion, Access Holdings exchanged 57.7 million units worth N957.3 million, Transcorp traded 52.7 million units valued at N331.5 million, Zenith Bank transacted 43.1 million units worth N1.5 billion, and FBN Holdings sold 26.6 million units for N480.8 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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