Economy
MPC Meeting Postponement Sways Stock Investors to Sell Off
By Dipo Olowookere
Stock investors were swayed by the news of the indefinite postponement of the Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN).
The quarterly rate decision meeting was supposed to occur next week, but it has been moved forward. There are speculations that the meeting was postponed to allow the new CBN Governor nominee, Mr Yemi Cardoso, to preside over the gathering.
He is yet to be confirmed by the Senate, which resumes from a recess next Tuesday, the same day the rate decision is supposed to be announced.
The confusion as to who is in charge of the central bank at the moment, especially after it was rumoured that the acting chief, Mr Folashodun Shonubi, and the four deputy governors have resigned from office, may have affected the confidence of traders, taking a toll on the Nigerian Exchange (NGX) Limited, as it further dropped 0.09 per cent on Thursday.
The sustained selling pressure pulled down the All-Share Index (ASI) by 64.58 points to 68,271.14 points from 68,335.72 points and dragged the market capitalisation downward by N36 billion to N37.365 trillion from N37.401 trillion.
Investor sentiment remained weak yesterday after Customs Street finished with 30 depreciating stocks and 20 appreciating stocks, indicating a negative market breadth index.
Oando was the heaviest price loser after its value went down by 9.93 per cent to N13.15, as Lasaco shed 9.71 per cent to N1.86, Chams depreciated by 9.59 per cent to N1.32, Northern Nigerian Flour Mills fell by 9.23 per cent to N15.25, and Tantalizers plunged by 8.57 per cent to 32 Kobo.
On the flip side, John Holt was the biggest price gainer as it chalked up 9.55 per cent to close at N1.72, DAAR Communications appreciated by 9.52 per cent to 23 Kobo, Omatek gained 9.52 per cent to sell for 46 Kobo, Mutual Benefits rose by 9.30 per cent to 47 Kobo, and Sunu Assurances increased by 9.09 per cent to 96 Kobo.
It was observed that the banking sector influenced the loss posted by the bourse on Thursday after it declined by 0.46 per cent due to profit-taking in that space.
The insurance counter rose by 0.26 per cent, the energy index improved by 0.19 per cent, the consumer goods space appreciated by 0.05 per cent, and the industrial goods counter grew by 0.01 per cent.
At the close of business, the number of deals went down by 3.07 per cent to 7,949 deals from 8,201 deals, the volume of transactions increased by 98.34 per cent to 1.1 billion shares from 566.6 million shares, and the value of trades went up by 7.41 per cent to N5.8 billion from N5.4 billion.
Business Post reports that Universal Insurance recorded the highest number of transactions at the market yesterday after it sold 669.0 million shares valued at N134.2 million.
Oando traded 100.7 million stocks for N1.5 billion, Japaul exchanged 43.7 million equities worth N43.4 million, Access Holdings transacted 40.2 million stocks valued at N682.0 million, and UBA traded 32.5 million shares worth N552.8 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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