Economy
NGX Index Weakens by 0.43% as Traders Book Profit
By Dipo Olowookere
The gains recorded by the Nigerian Exchange (NGX) Limited on Tuesday were reversed on Wednesday by 0.43 per cent following profit-taking by investors.
It was observed that traders sold off shares in the banking and industrial goods sectors, leading to a respective decline of 0.2 per cent and 0.01 per cent.
As a result, the All-Share Index (ASI) was weakened by 288.69 points to 66,482.28 points from 66,770.97 points and the market capitalisation fell by N158 billion to settle at N36.386 trillion compared with the preceding day’s N36.544 trillion.
Business Post reports that there were pockets of bargain-hunting in the midweek session, as the insurance space rose by 0.28 per cent, the consumer goods counter improved by 0.18 per cent, while the energy index closed flat.
Analysis of the day’s price movement chart showed that investor sentiment was strong despite the loss by the bourse, as there were 29 price gainers and 22 price losers, representing a positive market breadth index.
Wema Bank and Ikeja Hotel were the heaviest price losers, shedding 10.00 per cent each to N4.23 and N3.15 apiece. ABC Transport lost 8.86 per cent to trade at 72 Kobo, Royal Exchange declined by 8.00 per cent to 46 Kobo, and Consolidated Hallmark Insurance decreased by 5.60 per cent to N1.18.
On the flip side, Oando recorded the biggest price growth as it moved up by 9.88 per cent to N9.45, Red Star Express gained 9.81 per cent to close at N2.91, Tripple Gee appreciated by 9.68 per cent to N2.38, RT Briscoe jumped by 9.43 per cent to 58 Kobo, and Universal Insurance grew by 9.09 per cent to 24 Kobo.
Yesterday, investors traded 657.5 million stocks worth N4.6 billion in 6,646 deals compared with the 364.3 million stocks worth N3.9 billion traded in 7,537 deals on Tuesday, representing a decline in the number of deals by 11.82 per cent, and an increase in the trading volume and value by 80.48 per cent and 17.95 per cent apiece.
Universal Insurance was the busiest on Wednesday after transacting 336.3 million shares valued at N80.5 million, Fidelity Bank traded 31.7 million equities valued at N264.9 million, Consolidated Hallmark Insurance exchanged 25.1 million shares valued at N29.4 million, GTCO traded 24.6 million stocks worth N885.4 million, and Wema Bank sold 24.0 million equities for N103.8 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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