Economy
Stock Market Suffers 0.23% Loss As Investors Shrug Off Tinubu’s Speech
By Dipo Olowookere
The first trading session on the floor of the Nigerian Exchange (NGX) Limited ended on a negative note on Tuesday with a 0.23 per cent loss.
This was triggered by persistent selling pressure on financial stocks and others, as investors were not impressed with the nationwide broadcast of President Bola Tinubu on Monday night.
Business Post observed that cautious trading was the order of the day as traders were weary of the proposed nationwide protests of the organised labour unions on Wednesday.
As a result, the All-Share Index (ASI) depleted by 145.32 points to 64,192.20 points from 64,337.52 points, and the market capitalisation decreased by N80 billion to settle at N34.932 trillion compared with the preceding day’s N35.012 trillion.
The loss reported yesterday was influenced by the 1.94 per cent decline posted by the banking sector, as the insurance and the consumer goods counters closed higher by 0.95 per cent and 0.54 per cent apiece as the energy and the industrial goods indices closed flat.
The stock market recorded the sale of 762.1 million shares worth N7.7 billion in 7,935 deals on Tuesday compared with the 673.4 million shares worth N6.5 billion traded in 9,788 deals on Monday, representing a decline in the number of deals by 18.93 per cent, and an improvement in the trading volume and value by 13.17 per cent and 18.46 per cent apiece.
The busiest stock was AIICO Insurance with a turnover of 314.6 million units valued at N220.2 million, UBA traded 54.5 million units worth N743.0 million, AXA Mansard exchanged 48.8 million units valued at N198.0 million, Ecobank sold 41.9 million units for N640.3 million, and FCMB transacted 28.6 million units worth N175.7 million.
Investor sentiment remained weak yesterday as the market breadth index was negative after the local bourse closed with 37 price losers and 22 price gainers.
John Holt dropped 10.00 per cent to trade at N1.80, Ellah Lakes depreciated by 9.92 per cent to N3.54, Fidelity Bank lost 9.88 per cent to finish at N7.75, Japaul slumped by 9.71 per cent to 93 Kobo, and Sovereign Trust Insurance deflated by 9.52 per cent to 57 Kobo.
On the flip side, Dangote Sugar and Abbey Mortgage Bank gained 10.00 per cent each to sell at N29.70, and N1.10 apiece, Chellarams grew by 9.87 per cent to N2.56, Tantalizers expanded by 9.68 per cent to 34 Kobo, and Sunu Assurances inflated by 9.09 per cent to 72 Kobo.
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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