Economy
NSE Approves Delisting of Great Nigeria Insurance
By Modupe Gbadeyanka
One of the insurance companies trading its securities on the floor of the Nigerian Stock Exchange (NSE), Great Nigeria Insurance (GNI) Plc, has received an approval to delist its shares on the platform.
Recall that shareholders of the insurer had earlier approved a proposal by the company’s board for immediate delisting of the firm from the NSE.
Great Nigeria Insurance opted for this option in order to avoid recurring non-compliance with rules and regulations.
Relying on information from sources, The Nation said Council of the Exchange had earlier last week approved the application for voluntary delisting filed on behalf of GNI, bringing the company to almost the end of the final stage of its delisting process.
Minority shareholders of GNI had been given till October 24, 2018 to accept payment in consideration for voluntary delisting of the company from the NSE or elect to be part of an unquoted company.
As part of the delisting process, Insurance Resourcery and Consultancy Services Limited (IRCSL), which owns majority equity stake in the company, offered to pay cash consideration of 50 kobo per share for every share surrendered by minority shareholders, with the exit price of 50 kobo based on the highest price the shares were traded in the last six months.
The total payment accruing to minority shareholders that elect to accept the exit consideration was scheduled for collation on October 24, 2018, the deadline for the acceptance of the offer. Thereafter, payments were made to the bank accounts of the shareholders within 24 hours.
The board of the company had assured that shareholders that intend to continue to be a member of an unlisted GNI shall be free to remain and they have no obligation to receive the exit consideration.
The board of the insurance firm had noted that over the last five years, there has been little or no trading activity on the shares held by the minority shareholders, pointing out that there has also been a considerable fall in trading volumes over the last 12 months with an average daily volume of circa 1,200 shares during the period between March 2017 to March 2018. The board argued that shareholders were not benefiting from the continued listing as shareholders were not getting any exit opportunity and their investments have been locked up and they found it difficult to dispose of their shareholding, adding that the company has also not benefitted from the continuing listing as its shares continued to trade at a significant discount to the intrinsic value.
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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