Economy
Abbey Mortgage Bank Targets 20% Free Float on NGX 2025
By Adedapo Adesanya
Abbey Mortgage Bank Plc is planning to meet its free float requirement of 20 per cent at the Nigerian Exchange (NGX) Limited next year.
The Managing Director of the bank, Mr Mobolaji Adewumi, stated this on Thursday during the company’s Facts Behind the Figures presentation at the bourse, where it trades its stocks.
According to Mr Adewumi, the firm, in 2022, had assured the NGX that would meet the free float requirement by 2025, adding that the lender was on course to meet the target evidenced by a year-on-year rise in its target.
The NGX requires companies to allow at least 20 per cent of their issued share capital to be in the hands of the investing public, while the directors and others can hold on to the remaining 80 per cent.
At the moment, the company falls short of this requirement by 6.85 per cent after it released about 602 million units of shares to the public last year.
“We remain committed to ensuring that the full plan is met before the deadline of 2025. One thing that is clear in our shareholding structure is that the free float percentage moved from 7.22 per cent to 13.15 per cent by the end of 2023.
“I’m sure by the time we come back here, the figure will be much higher than that and by 2025, we will have full compliance,” he said.
Mr Adewumi also noted that it is working towards reducing its Non-Performing Loans (NPLs) in the mortgage industry, which is a source of worries for investors.
“The NPLs are quite high. In 2020, when VFD Group invested in Abbey, NPL was around 75 per cent and if you look across most of the mortgage banks, you will see high NPLs.
“The regulatory minimum for mortgage banks is 20 per cent, but when you start seeing figures like 25-30 per cent, then it becomes a worry,” the bank chief executive said.
He said that over the last three years, Abbey Mortgage Bank had worked towards crashing its NPL, affirming its seriousness in the industry.
“We are already on eight per cent, which is far below what you will get from most mortgage banks,” he stated.
He also assured investors and other stakeholders that the bank was prepared to meet any minimum capital requirements set by the Central Bank of Nigeria (CBN), building on the N3 billion it cashed in during its last capital raise.
Last year, the Governor of the CBN, Mr Olayemi Cardoso, revealed that there was a high possibility of recapitalisation in the banking industry as part of President Bola Tinubu’s goal of making Nigeria a $1 trillion economy.
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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