Economy
Stockbroker Blames Buhari for Recent Decline in Stock Market
By Adedapo Adesanya
Things are not looking well for investors at the Nigerian Stock Exchange (NSE) due to the bearish trend that has plagued it and an expert in the field has blamed the President Muhammadu Buhari-led administration for being the cause.
Chairman of the Association of Securities Dealing Houses of Nigeria (ASHON), Mr Patrick Ezeagu, in a chat last month, said market began to fall when the President kept investors in the dark by not announcing members of his cabinet almost four months after he was sworn in for a second term in office.
According to Mr Ezeagu, this singular act by Mr Buhari sent the wrong signal to investors, who felt the present government was not serious for governance.
“The bearish trend has to do with the fact that the government is yet to settle down after the elections,” the stockbroker said, adding that “core investors are awaiting a couple of things, including announcement of ministers of the federal republic and the economic team to show the clear direction of the government.”
Even with the screening of ministers by the Senate earlier in the month, market sentiment remained weak so far in August, with the All Share Index down by 286 basis points month-to-date, amid unimpressive macro and global conditions.
The NSE said a total turnover of 726.607 million shares worth N10.459 billion in 12,915 deals were traded last week by investors on the floor of the exchange, in contrast to a total of 1.081 billion shares valued at N12.014 billion that exchanged hands the previous week in 16,246 deals.
Despite the addition of N1.4 trillion into the market as a result of the listing of Airtel Africa Plc shares on July 1, 2019 on the stock exchange, total market recapitalisation has seen lost N645 billion since President Buhari was sworn in on Wednesday, May 29, 2019.
Total market capitalisation stood at N13.766 trillion a day after the President’s second term inauguration, however, as at last Friday, the market capitalisation finished at N13.121 trillion.
Business Post reports that after the Sallah holiday last week, stock investors in the nation’s equity market lost a total of N186 billion.
But despite the situation of things at the equity market, Mr Ezeagu said, “Astute and professionally guided investors should take position now that most stocks are trading lower than their net realisable asset value and expect handsome returns when the market shall eventually rally.”
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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