Economy
Market Drops 0.30% as First Bank Ends as Busiest Stock
By Dipo Olowookere
The Nigerian bourse further depreciated by 0.30 per cent on Thursday as investors continued to sell-offs to possibly minimise their risks amid global uncertainties fuelling weak sentiments.
According to data, the profit-taking was across the sectors, with the consumer goods space as the most hit after it dropped 1.76 per cent and was trailed by the banking counter, which dropped 0.97 per cent.
In addition, the insurance sector depreciated by 0.60 per cent, the energy index went down by 0.07 per cent, and the industrial goods sector declined by 0.02 per cent.
The renewed selling pressure on the Nigerian Exchange (NGX) Limited weakened the All Share Index by 158.37 points to 52,815.78 points from 52,974.15 points as the market capitalisation depleted by N85 billion to N28.474 trillion from N28.559 trillion.
Yesterday, FBN Holdings was the busiest stock as it traded 74.7 million units valued at N836.1 million, Transcorp sold 31.4 million units worth N40.2 million, Zenith Bank traded 26.9 million units valued at N621.5 million, GTCO exchanged 17.8 million units worth N401.5 million, while UBA transacted 12.5 million units valued at N98.0 million.
However, the trades executed by First Bank could not lift the trading volume on Thursday as it depreciated by 7.08 per cent to 274.4 million units compared with the preceding day’s 295.4 million units.
But the trading value improved yesterday by 12.20 per cent to N4.0 billion from N3.6 billion as the number of deals increased by 8.07 per cent to 5,011 trades from 4,637 trades.
The market breadth was bearish during the session with 13 appreciating stocks and 26 depreciating stocks led by Royal Exchange, which dropped 10.00 per cent to trade at 90 kobo.
Global Spectrum Energy Services fell by 9.75 per cent to N2.50, Champion Breweries declined by 8.63 per cent to N3.60, FCMB shrank by 6.57 per cent to N3.27, while International Breweries slumped by 5.66 per cent to N7.50.
On the flip side, Ellah Lakes finished stronger by 9.62 per cent to sell at N3.42, PZ Cussons appreciated by 9.57 per cent to N12.60, Sovereign Trust Insurance rose by 8.33 per cent to 26 kobo, NAHCO expanded by 8.31 per cent to N7.82, while Aluminium Extrusion inflated by 7.46 per cent to N7.20.
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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