Economy
Nigerian Stocks Give up Early Gains to Close 0.44% Lower
By Modupe Gbadeyanka
The early gains recorded by the Nigerian Stock Exchange (NSE) on Wednesday evaporated towards the closing period of the market.
The market was looking to sustain the growth it posted yesterday, but selloffs in some large-cap stocks dragged the index to the negative region.
At the close of transactions, the equities market closed 0.44 percent lower, shrinking the year-to-date returns further to -7.54 percent.
Business Post reports that the All-Share Index (ASI) reduced today by 157.27 absolute points to settle at 35,358.94 points, while the market capitalisation decreased by N57 billion to finish at N12.909 trillion.
Profit taking activity was witnessed at the stock market during the midweek trade, leaving the market breadth negative with 27 price losers against 18 price gainers.
Flour Mills led the losers’ table at the close of transactions today, losing N1.75k to settle at N23.05k per share.
It was followed by Lafarge, which crashed by N1.50k to end at N25.50k per share, and Unilever, which went down by N1 to close at N50 per share.
Dangote Cement also decreased by N1 to close at N229 per share, while FBN Holdings lost 70 kobo to end at N9 per share.
At the other side, Total Nigeria continued its upward trend, leading the gainers’ chart again today after adding N2 to its share value to close at N192 per share.
PZ Cussons increased by N1 to finish at N15 per share, while Ecobank went up by 75 kobo to settle at N20.05k per share.
Dangote Sugar rose by 50 kobo to end at N16 per share, while Custodian Investment improved by 35 kobo to finish at N5.45k per share.
While the volume of shares traded by investors appreciated by 1.58 percent on Wednesday, the value went down by 58.80 percent.
A total of 345.1 million shares worth N2.3 billion were transacted in 3,261 deals today compared with the 339.8 million equities valued at N5.5 billion traded yesterday.
NEM Insurance emerged the most traded stock at the market on Wednesday, accounting for 180.1 million units worth N540.1 million.
UBA sold 27.2 million equities valued at N221.5 million, while Transcorp exchanged 21.8 million shares for N27.4 million.
Ecobank traded 19.2 million equities valued at N383.1 million, while investors bought and sold 11.6 million shares of FCMB worth N22 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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn