Economy
Tourist Company of Nigeria Shares Remain Flat After 10-month Embargo
By Aduragbemi Omiyale
Investors finally started to trade shares of Tourist Company of Nigeria Plc on the floor of the Nigerian Exchange (NGX) Limited after being unable to do so for the past 10 months.
This was because the management of the NGX placed an embargo on the company, making it impossible for shareholders to trade their equities on the platform.
On July 2, 2021, the NGX suspended the Tourist Company of Nigeria over the failure of the board to file the organisation’s financial statements for the year ended December 31, 2020.
The firm was among the four public-quoted companies disallowed from transacting their stocks on the exchange.
But last Monday, trading of the shares resumed after the company did the needful and since then, the value of the equities has remained unchanged at N2.84 per unit.
“We refer to our market bulletin dated July 2, 2021, with reference number: NGXREG/LRD/MB23/21/07/02, wherein we notified trading licence holders and the investing public of the suspension of four listed companies for non-compliance with the provisions of Rule 3.1: Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of the exchange (issuers’ rules) (default filing rules), which provides that: If an issuer fails to file the relevant accounts by the expiration of the cure period1, the exchange will: a. send to the issuer a second filing deficiency notification within two business days after the end of the cure period; b. suspend trading in the issuer’s securities; and c. notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension.
“Tourist Company of Nigeria Plc, one of the four listed companies that were suspended on July 2, 2021, has now filed its Audited Financial Statements for the year ended December 31, 2020, December 31, 2021, and Unaudited Financial Statements for the quarter ended March 31, 2022.
“In view of the company’s submission of these financial statements, and pursuant to Rule 3.3 of the default filing rules, which states that; The suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided the exchange is satisfied that the accounts comply with all applicable rules of the exchange. The exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension, that the suspension has been lifted.
“Trading licence holders and the investing public are hereby notified that the suspension placed on trading on the shares of Tourist Company of Nigeria Plc was lifted on May 11, 2022,” the notice read.
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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