Economy
Market Sustains Growth by 0.33% as MTN, GTCO, Others Enjoy Patronage
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited further appreciated by 0.33 per cent on Tuesday on the back of sustained bargain-hunting in the banking space, which closed higher by 0.67 per cent, especially because of interest in GTCO, UBA, Access Holdings and others.
The sector was mainly responsible for the growth reported by the domestic bourse during the session, as the energy counter lost 1.03 per cent and the insurance index depreciated by 0.49 per cent, while the consumer goods and industrial goods sectors closed flat each.
At the close of business, the All-Share Index (ASI) gained 237.35 points to finish at 71,907.26 points compared with Monday’s 71,669.91 points, and the market capitalisation jumped by N130 billion to quote at N39.349 trillion compared with the preceding day’s N39.219 trillion.
Business Post observed that investors were cautious of the macroeconomic environment yesterday, resulting in a weak investor sentiment as the exchange ended with 24 price gainers and 25 price losers, implying a negative market breadth index.
Infinity Trust Mortgage Bank gained 9.79 per cent to trade at N2.13, SCOA Nigeria rose by 9.46 per cent to N1.62, DAAR Communications appreciated by 8.82 per cent to 37 Kobo, Royal Exchange increased its value by 8.47 per cent to 64 Kobo, and Neimeth grew by 7.89 per cent to N2.05.
However, Guinea Insurance fell by 10.00 per cent to 27 Kobo, Conoil shrank by 9.83 per cent to N78.00, Juli depreciated by 9.72 per cent to 65 Kobo, Omatek slumped by 8.75 per cent to 73 Kobo, and Thomas Wyatt declined by 8.13 per cent to N3.05.
A total of 319.6 million shares valued at N5.9 billion exchanged hands in 6,498 deals on Tuesday versus the 375.3 million shares worth N3.9 billion transacted in 7,011 deals on Monday, indicating an improvement in the trading value by 51.28 per cent, a decline in the trading volume by 14.84 per cent and a fall in the number of deals by 7.32 per cent.
Julius Berger was traders’ toast yesterday as it traded 42.5 million equities worth N1.5 billion, Zenith Bank transacted 23.0 million shares valued at N812.0 million, FCMB sold 22.9 million stocks for N155.1 million, GTCO exchanged 21.6 million shares for N849.3 million, and Access Holdings traded 18.8 million equities worth N380.1 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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