Economy
Selloffs on NGX Floor Moderates All-Share Index by 0.52%
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited witnessed a 0.52 per cent contraction on Thursday for the first time this week following sell-off activities in the insurance sector.
This moderated the All-Share Index (ASI) by 234.60 points to 44,625.18 points from 44,859.78 points and eased the market capitalisation by N128 billion to N24.306 trillion from N24.434 trillion.
The market breadth ended positive yesterday despite the bearish outcome, as there were 12 price gainers and nine price losers, indicating a strong investor sentiment.
Analysis of the sectorial performance showed that the insurance index was the black sheep during the session, as it went down by 0.98 per cent.
The banking sector had a good outing yesterday as it appreciated by 1.11 per cent, while the consumer goods index closed marginally higher by 0.01 per cent. The energy and industrial goods counters closed flat at the close of trade yesterday.
Pharma-Deko was the worst-performing equity on Thursday as its value went down by 9.76 per cent to N1.85. Linkage Assurance depreciated by 9.30 per cent to 39 Kobo, Coronation Insurance shrank by 8.33 per cent to 33 Kobo, ABC Transport retreated by 7.41 per cent to 27 Kobo, as AIICO Insurance receded by 3.45 per cent to 56 Kobo.
On the flip side, Regency Assurance ended the trading session as the best-performing stock as its price appreciated by 8.70 per cent to 25 Kobo, Sovereign Trust Insurance rose by 8.00 per cent to 27 Kobo, Japaul grew by 7.41 per cent to 29 Kobo, Cornerstone Insurance chalked up 4.17 per cent to trade at 50 Kobo, and UAC Nigeria increased by 4.07 per cent to N8.95.
Business Post reports that Mutual Benefits finished the trading day as the busiest stock after trading 47.9 million units of its equities. Pharma-Deko sold 22.6 million shares, Transcorp exchanged 9.0 million stocks, Fidelity Bank transacted 7.9 million equities, and Access Holdings traded 7.0 million shares.
Data revealed that yesterday, traders transacted 151.0 million equities worth N1.6 billion in 2,998 deals as against the 93.5 million shares worth N3.4 billion traded in 3,187 deals on Wednesday, signifying an increase in the trading volume by 61.44 per cent, a decline in the trading value by 54.07 per cent, and a fall in the number of deals by 5.93 per cent.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn