Economy
Market Gains 0.13% as Wema Bank, Zenith Bank Attract Investors
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited closed 0.13 per cent higher on Thursday on the back of a renewed interest in local equities.
Shares of Wema Bank, Mutual Benefits Assurance, Zenith Bank and others enjoyed investors’ patronage yesterday as traders begin to rebalance their portfolios ahead of the earnings season in the coming weeks.
Business Post reports that 18 equities closed on the gainers’ chart on Thursday, while eight stocks finished on the losers’ end.
Champion Breweries was the highest gainer as its share price rose by 10.00 per cent to settle at N1.98, trailed by Coronation Insurance, which appreciated by 9.43 per cent to close at 58 kobo.
Lasaco Assurance improved by 7.91 per cent to N1.50, Berger Paints gained 7.69 per cent to sell for N7.70, while Mutual Benefits Assurance rose by 6.52 per cent to 49 kobo.
On the flip side, Consolidated Hallmark Insurance was the heaviest price loser as its share valued decreased during the session by 8.96 per cent to 61 kobo.
Unity Bank went down by 3.51 per cent to 55 kobo, Sterling Bank declined by 1.91 per cent to N1.54, International Breweries shed 1.82 per cent to close at N5.40, while Linkage Assurance dropped 1.79 per cent to 55 kobo.
As earlier stated, financial stocks attracted investors at the market yesterday, with Wema Bank closing as the most traded for transacting 27.2 million units worth N15.0 million.
Mutual Benefits Assurance traded 21.4 million units valued at N10.5 million, Zenith Bank exchanged 16.3 million units for N382.1 million, Sterling Bank traded 12.3 million units worth N18.8 million, while FBN Holdings transacted 7.9 million units valued at N57.1 million.
A total of 160.4 million stocks worth N1.4 billion were traded yesterday in 3,260 deals in contrast to the 302.7 million stocks worth N2.8 billion traded in 4,387 deals at the midweek session, indicating that the trading volume, value and the number of deals depreciated by 47.00 per cent, 50.34 per cent and 25.69 per cent respectively.
But when trading activities on the exchange were brought to an end for the day, the All-Share Index (ASI) was up by 50.41 points to settle at 38,615.11 points compared with the previous 38,564.70 points.
In the same vein, the market capitalisation of the NGX went up by N27 billion to finish at N20.126 trillion compared with N20.099 trillion it ended at the preceding session.
Apart from the industrial goods counter, which depreciated by 0.02 per cent, and the energy index, which closed flat, every other sector closed positive.
The insurance space appreciated by 1.01 per cent, the banking counter improved by 0.81 per cent, while the consumer goods sector went up by 0.18 per cent.
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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