Economy
Profit-taking in Bellwether Stocks Pulls Down NGX by 0.44%
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited retreated by 0.44 per cent on Tuesday due to selling pressure on some bellwether equities during the session.
Shares of Dangote Cement, GTCO, Zenith Bank, Access Holdings, Oando, Lafarge Africa and others experienced a pullback yesterday as a result of profit-taking activities by traders.
As a result, the All-Share Index (ASI) receded by 312.76 points to 71,041.05 points from 71,353.81 points and the market capitalisation moderated by N165 billion to N38.875 trillion from N39.040 trillion.
The level of activity at the market waned on the second trading session of the week, as investors chew on the policy direction of the Central Bank of Nigeria (CBN) under the leadership of Mr Yemi Cardoso.
Business Post reports that 534.6 million shares valued at N5.6 billion exchanged hands in 8,136 deals during the trading day compared with the 746.7 million shares worth N6.0 billion transacted on Monday in 9,267 deals, implying a decline in the number of trades, value of transactions and the number of deals by 28.41 per cent, 6.67 per cent and 12.20 per cent, respectively.
It was observed that the banking sector was very busy yesterday, dominating the activity chart at the close of transactions, according to data from the bourse.
Access Holdings traded 52.4 million stocks worth N942.8 million, Transcorp exchanged 46.6 million equities valued at N309.9 million, UPDC REIT sold 46.2 million shares for N181.3 million, UBA transacted 36.4 million shares valued at N774.3 million, and Unity Bank traded 31.3 million stocks worth N52.6 million.
Investor sentiment turned bearish on Tuesday, with 40 depreciating equities and 19 appreciating shares, indicating a negative market breadth index.
Omatek topped the losers’ table after letting go 10.00 per cent of its value to settle at 81 Kobo, Ikeja Hotel shed 9.87 per cent to close at N4.20, Neimeth also depreciated by 9.87 per cent to N2.01, Coronation Insurance depleted by 9.72 per cent to 65 Kobo, and CWG crashed by 9.45 per cent to N6.90.
On top of the gainers’ log during the session was Secure Electronic Technology, which rose by 10.00 per cent to finish at 66 Kobo, MeCure sustained its positive run with a gain of 9.99 per cent to quote at N10.13, Sunu Assurances expanded by 9.68 per cent to N1.36, Consolidated Hallmark Holdings stretched its value by 9.17 per cent to N1.19, and Royal Exchange increased by 6.35 per cent to 67 Kobo.
As for the sectorial performance, the insurance and the industrial goods indices lost 1.27 per cent and 1.25 per cent apiece, while the banking and the consumer goods sectors improved by 0.06 per cent and 0.04 per cent, respectively, with the energy counter closing flat.
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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