Economy
Sell-Offs Persist as Bears Chop Market Cap to N28.452trn
By Dipo Olowookere
Investors reacted negatively to the inflation figures released on Wednesday by the National Bureau of Statistics (NBS) for May 2022, deciding to sell off after learning that the consumer price index increased by 17.71 per cent from 16.82 per cent in April 2022.
The persistent profit-taking further pushed the Nigerian Exchange (NGX) Limited southwards by 0.64 per cent at the close of transactions, with investor sentiment remaining weak as 11 stocks appreciated in price, while 26 equities depreciated in value.
The financial services sectors were the most impacted yesterday and they erased the gains achieved by the energy and industrial goods counters, which went up by 0.07 per cent and 0.04 per cent respectively.
The banking index fell by 2.01 per cent, the insurance space lost 0.87 per cent, while the consumer goods counter depreciated by 0.53 per cent.
Consequently, the All Share Index (ASI) went down by 338.24 points to 52,775.40 points from 53,113.64 points, while the market capitalisation fell by N182 billion to N28.452 trillion from N28.634 trillion.
Meyer ended the session as the heaviest price decliner as its value depleted by 10.00 per cent to N2.79, Linkage Assurance dropped 8.93 per cent to 51 kobo, Union Bank fell by 7.69 per cent to N6.00, International Breweries declined by 6.12 per cent to N6.90, while FBN Holdings crashed by 5.71 per cent to N9.90.
On the other side of the coin, Tripple Gee finished as the biggest price riser after it added 9.20 per cent to its equity price to close at 95 kobo, Learn Africa rose by 5.49 per cent to N2.50, Unity Bank improved by 2.13 per cent to 48 kobo, AIICO Insurance chalked up 1.56 per cent to sell at 65 kobo, while Livestock Feeds gained 1.33 per cent to trade at N1.52.
It was another quiet session yesterday as the trading volume, value and number of deals depreciated by 37.30 per cent, 23.76 per cent and 9.34 per cent respectively.
This was because investors transacted 188.1 million stocks worth N2.4 billion in 4,890 deals at the midweek session compared with the 300.0 million stocks worth N3.1 billion traded in 5,394 deals on Tuesday.
UBA finished the trading day as the busiest, transacting 36.4 million equities valued at N278.6 million, GTCO traded 24.4 million shares for N531.3 million, FBN Holdings exchanged 17.6 million stocks for N175.8 million, Sterling Bank sold 14.3 million shares worth N21.9 million, while Zenith Bank traded 12.8 million equities valued at N286.8 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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