Economy
Market Sheds 0.23% as Investors Offload Consumer Goods, Banking Stocks
By Dipo Olowookere
The local stock market depreciated by 0.23 per cent as investors rebalanced their portfolios, deciding to offload equities mostly in the consumer goods, banking and energy sectors.
It was observed that the industrial goods counter managed to close flat but the consumer goods, energy, insurance and banking sectors depreciated by 1.01 per cent, 0.96 per cent, 0.61 per cent and 0.51 per cent respectively.
This depleted the All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited by 122.36 points to 52,186.52 points from 52,308.88 points, while the market capitalisation reduced by N66 billion to N28.142 trillion from N28.208 trillion.
During the session, a total of 238.3 million shares worth N3.3 billion exchanged hands in 3,814 deals compared with the 205.6 million shares worth N2.8 billion transacted in 4,127 deals, representing a decline in the number of deals by 7.58 per cent and an increase in the trading volume and value by 15.87 per cent and 19.71 per cent respectively.
Livingtrust Mortgage Bank was the most active stock yesterday as it traded 40.9 million units worth N49.1 million, Nigerian Breweries traded 30.4 million units worth N1.5 billion, UBA exchanged 26.7 million units valued at N198.5 million, Access Holdings sold 21.9 million units worth N199.1 million, while FBN Holdings traded 17.9 million units valued at N196.6 million.
Business Post reports that investor sentiment was bearish at the midweek session as the market closed with 13 appreciating shares and 22 depreciating shares led by NAHCO, which fell by 10.00 per cent to N5.40.
FTN Cocoa went down by 8.57 per cent to 32 Kobo, Nigerian Breweries dropped 6.13 per cent to N49.75, Consolidated Hallmark Insurance declined by 5.71 per cent to 66 Kobo, while Oando shed 5.50 per cent to sell for N5.15.
On the flip side, CWG appreciated by 9.88 per cent to trade at 89 Kobo, Multiverse also rose by 9.88 per cent to N1.78, Academy Press grew by 9.68 per cent to N2.04, The Initiates leapt by 9.09 per cent to 48 Kobo, while RT Briscoe also went up by 9.09 per cent to 48 Kobo.
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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