Economy
Nigerian Stocks Close 0.11% Higher on Last Day of November 2023
By Dipo Olowookere
The last trading day of November 2023 on the floor of the Nigerian Exchange (NGX) Limited ended on a bullish note by 0.11 per cent on Thursday.
Mild bargain-hunting in industrial goods equities like Lafarge Africa, supported by Airtel Africa, GTCO and other financial stocks left the market in the green territory at the close of business.
Consequently, the All-Share Index (ASI) increased by 81.91 points to settle at 71,365.25 points compared with the preceding day’s 71,283.34 points, and the market capitalisation grew by N44 billion to N39.052 trillion from N39.008 trillion.
Business Post reports that the domestic stock exchange would have landed in the red zone yesterday, but for the 0.07 per cent growth posted by the industrial goods sector. It was the only advancer of the key counters.
The insurance space shed 0.83 per cent, the banking index went down by 0.41 per cent, the consumer goods index depreciated by 0.32 per cent, and the energy counter fell by 0.14 per cent.
According to data from the bourse, investor sentiment was still weak on Thursday as there were 32 price losers and 25 price gainers, indicating a negative market breadth index.
Northern Nigerian Flour Mills improved its value by 10.00 per cent to N35.20, Thomas Wyatt rose by 9.62 per cent to N2.28, MeCure appreciated by 9.09 per cent to N12.00, Champion Breweries gained 7.69 per cent to sell for N3.50, and Ecobank increased its price by 6.25 per cent to N17.00.
Conversely, Secure Electronic Technology shed 9.72 per cent to quote at 65 Kobo, Unity Bank lost 9.68 per cent to close at N1.40, Tantalizers declined by 9.43 per cent to 48 Kobo, DAAR Communications went down by 9.38 per cent to 29 Kobo, and Deap Capital slumped by 9.23 per cent to 59 Kobo.
A total of 540.1 million stocks worth N10.2 billion were bought and sold in 6,516 deals on Thursday versus the 360.6 million stocks worth N6.6 billion traded in 6,579 deals on Wednesday, representing a decline in the number of deals by 0.96 per cent, and a rise in the trading volume and value by 49.78 per cent and 54.55 per cent, respectively.
GTCO topped the activity chart with a turnover of 67.2 million shares valued at N2.6 billion, Universal Insurance transacted 56.8 million equities worth N13.7 million, Consolidated Hallmark traded 46.1 million stocks for N64.3 million, Transcorp exchanged 42.8 million shares valued at N294.3 million, and FBN Holdings sold 36.0 million shares for N787.5 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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