Economy
Forte Oil Shareholders Told to Suspend Proposed Sale of Shares
By Dipo Olowookere
Shareholders of Forte Oil Plc intending to sell their shares to a major investor in the company, Ignite Investments and Commodities Limited, have been told to pause the action for now.
Ignite Investments is proposing to buy up to 500,000 units of the energy company’s shares from shareholders at the price of N66.25k per unit. The total number of units to be purchased makes up 0.04 percent equity stake.
This offering is coming few months after the same investor acquired 75 percent equity holding of the former owner, Mr Femi Otedola.
Forte Oil, in a notice to the Nigerian Stock Exchange (NSE), which was signed by its acting secretary, Oladeinde Nelson-Cole, explained that it was asking those intending to sell their shares to Ignite Investments in the new offering to take no action on it for now because approvals have not been received from the regulatory agencies of the capital market in Nigeria.
The company said the proposed offer was still under review by the relevant regulators and has not been formally launched.
“This is to clarify to shareholders of Forte Oil that the proposed offer by Ignite Investment and Commodities Limited to other shareholders of Forte Oil is still under review by the relevant regulators and has not been formally launched. As such, shareholders are advised to take no action in respect of the proposed offer at this time,” the disclosure said.
The energy firm stated that, “Shareholders will be appropriately notified (in line with regulatory requirements) by Ignite Investments of the formal launch date.”
It said, “This will happen following the receipt of the requisite regulatory approvals from the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE).”
In addition, Forte Oil said, “The final version of the bid document (following its registration by the Securities and Exchange Commission) will be circulated to all shareholders when the proposed offer is launched.”
It noted that, “This document will outline steps that will be required to be taken by shareholders who wish to participate in the propose offer as well as key dates and timelines.”
Business Post reports that as at the close of business on the NSE on Friday, shares of Forte Oil were traded at N16.45k per unit after recording no movement.
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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