Economy
NASD OTC Exchange Drops 0.25% in Week 52 of 2024
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange index closed in the south territory in the 52nd trading week of 2024 on the back of profit-taking by investors.
Last week, the market capitalisation of the bourse shrank by N2.63 billion to settle at N1.040 trillion, in contrast to the preceding week’s N1.043 trillion and the NASD Unlisted Security Index (NSI) went down by 7.66 points to 3,035.61 points from the 3,043.27 points it ended in Week 51.
Business Post reports that last week’s trading days were only three, compared to the usual five, due to the Christmas and Boxing Day holidays (December 25 and 26).
In the week, there were three price losers and five price gainers led by Geo-Fluids Plc with a 24.0 per cent appreciation to end at N4.85 per unit against the previous week’s N3.81 per unit.
Further, Okitipupa Plc added 21 per cent to close at N35.99 per share versus N29.74 per share, Industrial and General Insurance (IGI) Plc grew by 16.7 per cent to finish at 15 Kobo per unit compared with the preceding week’s 17 Kobo per unit, FrieslandCampina Wamco Nigeria Plc jumped by 2.3 per cent to end at N43.84 per share against the former value of N42.85 per share, and Nipco Plc increased by 2.1 per cent to N150.10 per unit from N147.00 per unit.
Inversely, Central Securities Clearing System (CSCS) Plc lost 6.4 per cent to settle at N22.00 per share, in contrast to N23.50 per share, First Trust Microfinance Bank went down by 5.6 per cent to 34 Kobo per unit from 36 Kobo per unit and Afriland Properties Plc slipped by 1.9 per cent to N15.99 per share from N16.30 per share.
There was an 831.2 per cent jump in the volume of equities transacted in Week 52 to 21.37 million units from 2.29 million units, as the value of securities rose by 28.6 per cent to N115.8 million from N89.78 million and the number of deals went down by 23.7 per cent to 71 deals from 93 deals.
Geo-Fluids Plc was the most traded stock by value in the three-day trading week with N87.2 million, FrieslandCampina Wamco Plc recorded N18.4 million, Okitipupa Plc raked in N3.9 million, CSCS Plc posted N2.6 million, and Famad Nigeria Plc recorded N1.6 million.
Also, Geo-Fluids Plc was the most traded stock by volume with 19.2 million units, CSCS Plc transacted 1.3 million units, Famad Plc made 0.423 million units, UBN Property Plc traded 0.117 million units, and FrieslandCampina Wamco Plc exchanged 0.110 million units.
Economy
SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs
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.
Economy
Fidson Lists Additional 600 million Shares on Stock Exchange
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.”
Economy
FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure
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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