Economy
Nigerian Equities Slumps 0.42% After Disappointing Inflation Data
By Dipo Olowookere
A disappointing inflation data from the National Bureau of Statistics (NBS) further weakened Nigerian equities on Wednesday by 0.42 per cent.
Investors were expecting the average price of goods and services to slow in February because Nigerians reduced their expenditures last month due to the scarcity of cash, but when the stats office released the inflation numbers, the rate climbed higher by 21.91 per cent compared with 21.82 per cent achieved in January 2023.
The decline was buoyed by sustained sell-offs in the banking space, which closed lower by 1.95 per cent, as the consumer goods and the industrial goods sectors fell by 0.29 per cent and 0.01 per cent apiece. The insurance index grew by 0.44 per cent, while the energy counter closed flat.
The persistent selling pressure brought down the All-Share Index (ASI) by 232.70 points to 55,490.20 points from 55,722.90 points as the market capitalisation declined by N127 billion to N30.229 trillion from N30.356 trillion.
A total of 181.2 million shares worth N3.4 billion were transacted in 3,908 deals in the midweek session compared with the 199.3 million shares worth N2.8 billion traded in 3,898 deals, indicating a decline in the trading volume by 9.08 per cent, an increase in the trading value by 21.43 per cent and an improvement in the number of deals by 0.26 per cent.
GTCO was the most active stock during the session as it transacted 33.9 million units, Transcorp exchanged 20.1 million units, Zenith Bank sold 18.6 million units, Flour Mills traded 18.5 million units, and UBA sold 15.2 million units.
United Capital ended the session on top of the losers’ chart after it went down by 9.30 per cent to N11.70, University Press fell by 7.50 per cent to N1.85, GlaxoSmithKline shed 7.46 per cent to N6.20, Neimeth declined by 7.01 per cent to N1.46, and Oando depreciated by 6.74 per cent to N4.01.
The equity on top of the gainers’ log yesterday was Prestige Assurance, which grew by 7.89 per cent to 41 Kobo, Veritas Kapital expanded by 5.00 per cent to 21 Kobo, NGX Group rose by 4.87 per cent to N28.00, Unilever Nigeria improved by 3.70 per cent to N14.00, and Japaul jumped by 3.57 per cent to 29 Kobo.
Business Post reports that investor sentiment remained weak on Wednesday as the market breadth ended negative with 19 price losers and 11 price losers.
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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