Economy
Panic Sell-offs Shrink Nigerian Exchange by 0.08%
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited suffered a 0.08 per cent contraction on Wednesday after hitting its highest level in 15 years in the preceding trading session.
The loss recorded in the midweek session was influenced by panic sell-offs, especially in the banking and energy sectors of the stock exchange.
Profit-taking is a normal occurrence, particularly when prices of equities on the platform gain significant weight in the previous trading sessions.
The banking index lost 0.64 per cent during the trading day, and the energy counter fell by 0.02 per cent. They suppressed the respective 1.46 per cent, 0.32 per cent, and 0.11 per cent rise in the insurance, consumer goods and industrial goods sectors.
Consequently, the All-Share Index (ASI) went down by 50.81 points to 66,439.53 points from 66,490.34 points and squeezed N28 billion from the market capitalisation, which ended at N36.363 trillion compared with the previous day’s N36.391 trillion.
Business Post reports that despite the loss, investor sentiment remained bullish, as the market breadth was positive after 27 stocks appreciated in value and 25 shares depreciated in price.
Transcorp shed 9.99 per cent to N6.31, CWG lost 9.88 per cent to trade at N3.65, Ikeja Hotel declined by 9.84 per cent to N2.84, FTN Cocoa shrank by 8.11 per cent to N2.04, and RT Briscoe retreated by 6.67 per cent to 42 Kobo.
On the flip side, the duo of Consolidated Hallmark Insurance and Capital Hotels appreciated by 10.00 per cent each to sell at N1.10 and N2.75 apiece, University Press grew by 9.77 per cent to N2.36, Champion Breweries expanded by 9.72 per cent to N3.50, and Thomas Wyatt ballooned by 9.60 per cent to N2.17.
The market remained busy yesterday, with the trading volume, value and the number of deals growing by 45.81 per cent, 11.43 per cent, and 26.49 per cent, respectively.
A total of 637.2 million shares worth N7.8 billion were transacted in 10,033 deals on Wednesday, compared with the 436.8 million shares worth N7.0 billion traded in 7,932 deals on Tuesday.
Transcorp sold 292.4 million equities valued at N2.2 billion to top the activity chart at the close of transactions and was followed by Access Holdings, which traded 26.7 million stocks worth N435.5 million. Dangote Sugar transacted 24.5 million shares for N1.5 billion, Jaiz Bank exchanged 18.7 million stocks valued at N27.7 million, and Fidelity Bank traded 17.4 million equities worth N122.3 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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