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Economy

Regional Stock Markets in Reverse

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African Stock Markets

By FBNQuest Research

Within a broader trend in the emerging/frontier economy space, the three leading stock markets in sub-Saharan Africa all find themselves in negative territory ytd: the Lagos all-share index (NSEASI) and Johannesburg all-share index both by -2.1%, and Nairobi (NSE 20) by -11.0%.

Investors track GDP closely: curiously, the IMF’s latest World Economic Outlook, shortly to be updated, sees growth this year and next in Nigeria at 2.1% and 1.9%, in South Africa at 1.5% and 1.7%, and in Kenya at 5.5% and 6.0%. Other indicators enter the equation, of course.

NAFEX has proved transformative for the offshore investor in Nigeria. Total transactions on the NSE have averaged $20.7m equivalent ytd, compared with $9.9m in the same period of 2017.

Momentum, however, is slowing: the average of the past month has been just $12.8m.

If the offshore leads and the local follows, we should note that net offshore inflows in April of N6.1bn became net outflows of N68.8bn in May.

Our regular analysis of Pencom monthly reports, most recently yesterday, does not suggest that domestic institutions have made a substantial shift from debt to equities.

We feel that much of the good macro news is already reflected in valuations; the disinflation gains since the start of the year, the recovery of oil revenues, the impressive reserves accumulation and the success of the FGN in tapping the Eurobond market. Nor do we have high hopes of the forthcoming Q2 reporting season.

The Ramaphosa bounce in South Africa did not last long: the Jo’burg index has been under water since the start of February.

Nigeria has its own elections coming: in our view, investors are not worried while they feel that the polls will be decisive, and not followed by violence and endless judicial challenges.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Economy

SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs

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capital market operators

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.

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Economy

Fidson Lists Additional 600 million Shares on Stock Exchange

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fidson

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.”

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Economy

FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure

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FG contractors protest

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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