Connect with us

Economy

Mobil Falls For 4th Consecutive Day as NSE Investors Lose N185b

Published

on

mobil oil Nigeria

By Modupe Gbadeyanka

Shares of Mobil Oil Nigeria Plc suffered another loss on the trading floor of the Nigerian Stock Exchange (NSE) today, making it the fourth consecutive time since last Friday.

Business Post reports that Mobil, which recently changed its name to 11 Plc, lost N8.68k on Wednesday to settle at N165.11k per share.

It was followed by Dangote Cement, which shed N8.13k to close at N204.52k per share, and Guinness Nigeria, which slumped by N1.98k to end at N75 per share.

Also, Forte Oil declined by N1 to finish at N49 per share, while Unilever depreciated by 71k to end at N39.29k per share.

Unlike yesterday, the volume and value of transactions closed higher with investors exchanging a total of 240 million shares traded in 4,371 deals worth N2.9 billion. This was in contrast to 144.5 million units transacted yesterday in 3,716 deals worth N1.5 billion.

Our correspondent reports that banking stocks dominated the market in the midweek trading with Fidelity Bank moving 42.8 million shares worth N58.2 million.

It was trailed by Sterling Bank, which exchanged 39.2 million shares valued at N39.9 million, and Access Bank, which sold 33 million shares at N324.8 million.

Also at the close of trading activities today, UBA exchanged 29.5 million shares for N279.7 million, while FBN Holdings executed 13 million shares at N74 million.

The stock market, which went down by 1.48 percent on Wednesday, finished with only seven gainers and 31 losers.

The advancers were topped by Total Plc, which moved up by N6.50k to close at N243 per share, while Nigerian Breweries appreciated by N1.40k to finish at N185 per share.

Furthermore, Cutix gained 22k to end at N2.43k per share, May & Baker advanced by 13k to settle at N3.1k per share, and Continental Reinsurance grew by 6k to wrap the day at N1.40k per share.

Business Post reports that at the close of transactions on Wednesday, the All-Share Index (ASI) depreciated by 536.80 points to settle at 35,629.13 points, while the market capitalisation decreased by N185 billion to finish at N12.3 trillion, and the year-to-date return closed at 32.58 percent.

Tomorrow is the last trading day of the week as Friday and Monday have been declared public holidays to mark Sallah by Muslims.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs

Published

on

capital market operators

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.

Continue Reading

Economy

Fidson Lists Additional 600 million Shares on Stock Exchange

Published

on

fidson

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.”

Continue Reading

Economy

FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure

Published

on

FG contractors protest

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.

Continue Reading

Trending