Economy
United Capital, Nestle, 35 Others Sink Stock Market by 0.31%
By Dipo Olowookere
The local stock market was pulled down by 0.31 per cent on Tuesday following losses reported by United Capital, Nestle Nigeria, and 35 other equities.
This was buoyed by profit-taking in these shares as a result of renewed interest in the fixed-income market, where rates are quite atractive to investors looking for investment assets that could offer higher yields.
The energy and industrial goods sectors performed well during the session, closing higher by 0.35 per cent and 0.01 per cent, respectively.
However, the consumer goods index depreciated by 2.08 per cent, the banking counter went down by 1.73 per cent, and the insurance space closed lower by 0.82 per cent.
Consequently, the All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited shrank by 301.50 points to 97,830.65 points from 98,132.15 points, and the market capitalisation declined by N171 billion to N55.546 trillion from the N55.717 trillion it finished a day earlier.
Business Post reports that 19 stocks ended on the gainers’ chart yesterday and 37 stocks finished on the losers’ table, indicating a negative market breadth index and weak investor sentiment.
United Capital lost 9.92 per cent to trade at N34.05, Nestle Nigeria depreciated by 9.78 per cent to N830.00, Thomas Wyatt shed 9.72 per cent to sell at N1.95, Academy Press went down by 9.60 per cent to N1.79, and Africa Prudential retreated by 9.57 per cent to N9.45.
On the flip side, ABC Transport gained 10.00 per cent to settle at 77 Kobo, Oando improved its value by 9.84 per cent to N24.55, Ikeja Hotel expanded by 9.70 per cent to N7.35, RT Briscoe jumped by 9.59 per cent to 80 Kobo, and Presco appreciated by 7.83 per cent to N413.00.
The NGX recorded a mixed activity chart yesterday as the value of transactions went down by 8.05 per cent, and the volume of trades grew by 5.36 percent, with the number of deals increasing by 3.48 per cent.
A total of 399.4 million equities valued at N8.0 billion exchanged hands in 10,447 deals versus the 379.1 million equities sold for N8.7 billion in 10,096 deals on Monday.
Zenith Bank topped the activity chart after transacting 44.2 million stocks for N1.5 billion, Prestige Assurance traded 35.6 million shares worth N18.5 million, UBA exchanged 27.3 million equities for N554.4 million, Veritas Kapital sold 25.6 million shares valued at N23.2 million, and United Capital traded 22.9 million stocks worth N802.6 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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