Economy
FBN Holdings Slashes FY21 Dividend Despite Rise in Earnings, Profit
By Dipo Olowookere
The much-awaited financial statements of FBN Holdings Plc for the 2021 accounting year have been released to the Nigerian Exchange (NGX) Limited after approval from the Central Bank of Nigeria (CBN).
The lender, according to an analysis of the results by Business Post, reported growth in both the top line and bottom line, resulting in the declaration of a dividend of 35 kobo to shareholders, who have longed for this.
According to the company, its board of directors, pursuant to the powers vested in it by the provisions of Section 426 of the Companies and Allied Matters Act (CAMA) 2020, is proposing the payment of N12,563,352,477.00, lower than the N16,152,881,755.95 paid for the 2020 fiscal year.
In the year under review, the firm improved its gross earnings by 28.2 per cent to N757.3 billion from the N590.7 billion it posted in the preceding year.
However, the interest income depleted in the period under review to N369.1 billion from N384.8 billion amid a decline in earnings from investment securities at Fair Value through Other Comprehensive Income (FVOCI), which slumped to N23.1 billion from N84.2 billion.
The interest expense recorded in the year rose to N140.8 billion from N133.2 billion buoyed by deposits from banks and borrowings, bringing the net interest income down to N228.2 billion from N251.6 billion.
But earnings from fee and commission income increased to N140.6 billion from N113.2 billion due to improvement in revenue from credit-related fees, letters of credit commissions and fees, electronic banking fees, account maintenance, and fund management fees as well as other fees and commissions.
Despite the rise in the fee and commission expense to N23.9 billion from N19.5 billion, the net fee and commission income remained robust at N116.6 billion compared with the N93.8 billion recorded in the 2020 reporting year.
FBN Holdings also revealed in the results that it raked in N7.0 billion from foreign exchange income compared with N1.5 billion in FY20, while divided income generated N6.5 billion versus N4.0 billion a year earlier, with other operating income generating N149.4 billion in contrast to the N14.9 billion achieved in 2020.
In the year, personnel expenses gulped N128.8 billion versus N100.6 billion in the previous year due to pay rise as wages and salaries accounted for N116.3 billion compared with N85.5 billion.
Also, the other operating costs skyrocketed to N117.1 billion from N166.1 billion as a result of the increase in regulatory costs, maintenance, advert and corporate promotions, donations and subscriptions, communication, light and power, fines and penalties, among others.
At the close of business on December 31, 2021, FBN Holdings posted a profit before tax of N166.7 billion versus N83.7 billion in FY20, while the profit after tax jumped to N151.1 billion from N89.7 billion.
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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