Economy
PZ Cussons, Dangote Sugar, 18 Others Crash Customs Street by 0.24%
By Dipo Olowookere
A 0.24 per cent decline was recorded by the Nigerian Exchange (NGX) Limited on Tuesday despite a strong investor sentiment and positive market breadth index bolstered by 22 price gainers versus 20 price losers.
The crashing of Customs Street during the session was caused by profit-taking activities in the financial and consumer goods sectors, according to the trading data analysed by Business Post.
The insurance sector went down by 1.09 per cent, the banking space depreciated by 1.02 per cent, and the consumer goods counter shrank by 0.81 per cent, while the industrial goods index appreciated by 0.02 per cent, with the energy sector closing flat.
When trading activities ended at 2:30 pm yesterday, the All-Share Index (ASI) further lost 234.76 points to settle at 97,473.98 points compared with Monday’s 97,708.74 points, and the market capitalisation receded by N133 billion to N55.132 trillion from N55.265 trillion.
The trio of PZ Cussons, Dangote Sugar, and The Initiates were the worst-performing equities of the session after they shed 10.00 per cent each to trade at N22.50, N40.50, and N2.25 apiece, as NEM Insurance waned by 9.66 per cent to N9.35, and Caverton moderated by 9.55 per cent to N1.42.
On the flip side, Tantalizers and Learn Africa were the best-performing equities after they chalked up 10.00 per cent each to sell at 55 Kobo, and N3.63, respectively, as McNichols appreciated by 9.89 per cent to N1.00, Regency Alliance grew by 9.38 per cent to 35 Kobo, and Cutix gained 8.33 per cent to quote at N3.25.
The local stock market was dull on Tuesday as investors rebalanced their portfolios, with the trading volume, value, and the number of deals down by 30.18 per cent, 49.12 per cent, and 7.62 per cent, respectively.
A total of 306.6 million stocks valued at N5.8 billion exchanged hands in 7,951 deals yesterday compared with the 439.1 million stocks worth N11.4 billion transacted in 8,607 deals a day earlier.
Access Holdings topped the activity chart after selling 33.2 million shares for N575.6 million, GTCO transacted 32.3 million equities valued at N1.4 billion, Nigerian Breweries exchanged 27.5 million stocks worth N631.8 million, UBA traded 22.5 million shares valued at N519.5 million, and Royal Exchange transacted 19.5 million equities for N10.2 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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