Economy
Market Rises 0.17% as Investors Rush Zenith Bank, PZ Cussons Stocks
By Dipo Olowookere
The local stock market appreciated by 0.17 per cent on Friday on the back of sustained bargain-hunting in the key sectors of the bourse.
It was observed that investors showed interest in the banking, insurance and consumer goods counters as they rose by 1.09 per cent, 0.56 per cent, and 0.08 per cent, respectively.
Traders cherry-picked stocks in the segments and hope that their prices would rise next week as the Nigerian Exchange (NGX) Limited prepares for Christmas break.
Business Post reports that in the midst of the buying pressure, some investors sold off some shares, especially in the energy sector, and led to the 0.11 per cent loss reported in the space yesterday. The industrial goods sector, on its part, closed flat.
When the exchange closed for the day, the All-Share Index (ASI) was up by 83.27 points to 49,316.29 points from 49,233.02 points, while the market capitalisation grew by N46 billion to N26.861 trillion from N26.815 trillion.
Zenith Bank was the busiest equity during the session as it sold 14.1 million units, followed by GTCO, which exchanged 13.6 million units. Ecobank traded 11.2 million units, UBA transacted 7.7 million units, and Fidelity Bank traded 4.7 million units.
At the close of trades, a total of 103.7 million shares worth N2.0 billion exchanged hands in 3,280 deals compared with the 222.8 million shares worth N2.1 billion transacted in 2,756 deals a day earlier, representing an improvement in the number of deals by 19.01 per cent, a decline in the trading volume by 53.46 per cent, and a fall in the trading value by 4.76 per cent.
On the price movement chart, the market breadth was positive as investor sentiment was strong, with 17 price gainers and 11 price losers.
UPDC topped the risers’ log after it gained 10.00 per cent to quote at 99 Kobo, as PZ Cussons rose by 9.73 per cent to N12.40. Thomas Wyatt improved by 9.62 per cent to 57 Kobo, Champion Breweries appreciated by 9.33 per cent to N4.10, and Neimeth grew by 9.02 per cent to N1.45.
Conversely, Academy Press topped the decliners’ group after it fell by 9.70 per cent to N1.21, as Honeywell Flour declined by 3.64 per cent to N2.12. FTN Cocoa depreciated by 3.13 per cent to 31 Kobo, FCMB fell by 2.86 per cent to N3.40, and UAC Nigeria dropped 1.43 per cent to N10.35.
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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