Economy
NGX Sheds N37bn as Investors Sell Stocks in Panic to Buy FX
By Dipo Olowookere
Profit-taking persisted on the floor of the Nigerian Exchange (NGX) Limited, as investors refused to tone down their profit-taking activities.
It was observed that the market is gradually entering panic mode due to macroeconomic instability in the country, especially with the exchange rate of the Naira to the Dollar going above N1,000 in the parallel market.
A stockbroker with one of the leading brokerage firms in the country, who asked not to be named, said the local bourse was witnessing panic selling due to investors liquidating their shares for Dollars.
“This trend will continue for a while as long as the value of the Naira to the Dollar maintains its slope fall in the black market. Traders are pulling out their funds to purchase FX, leading to the 0.10 per cent shrinking of the market today (Friday),” the stockbroker told Business Post after trading activities were brought to an end.
Data showed that the industrial goods and the insurance indices contributed to the downfall of the exchange yesterday as they fell by 2.80 per cent and 0.43 per cent, respectively.
They weakened the 2.26 per cent and 1.40 per cent growth recorded by the consumer goods and the banking counters apiece. As for the energy sector, it closed flat.
Consequently, the All-Share Index (ASI) decreased by 66.49 points to 66,382.14 points from 66,448.63 points, and the market capitalisation declined by N37 billion to N36.331 trillion from N36.368 trillion.
The activity level showed that Customs Street was slightly busy, with the trading volume and value rising by 6.98 per cent and 32.36 per cent apiece, as the number of deals went down by 7.37 per cent.
Investors transacted 292.9 million stocks valued at N4.5 billion in 6,323 deals on the last session of the week versus the 273.8 million stocks worth N3.4 billion traded in 6,826 deals on Thursday.
Fidelity Bank finished as the most active stock after trading 48.6 million equities worth N393.9 million, Universal Insurance exchange 28.1 million shares valued at N6.2 million, Wema Bank sold 26.7 million equities for N122.7 million, Access Holdings transacted 21.0 million shares valued at N331.7 million, and UBA exchanged 11.7 million equities for N191.3 million.
BUA Cement suffered the biggest decline at the bourse on Friday, losing 10.00 per cent to finish at N85.50, Tripple G shed 9.96 per cent to trade at N2.17, Oando declined by 9.77 per cent to N7.85, John Holt depreciated by 9.76 per cent to N1.48, and Cornerstone Insurance received a 9.55 per cent haircut to settle at N1.61.
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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