Economy
NEM Insurance Shareholders to Get 9 Bonus Shares for Every 10
By Dipo Olowookere
The board of directors of NEM Insurance Plc is proposing to allot bonus shares to shareholders of the company.
A notice from the underwriting firm disclosed that the bonus would be given on a ratio of 9:10; nine bonus stocks for every 10 held by investors of the company.
This development will lead to the creation of 4,719,497,087 ordinary shares of 50 kobo of the organisation, which will rank pari pasu with the existing shares in all respect and will be treated for all purposes as capital and not as income.
The firm said the shares would be given to shareholders whose names appear in the company’s register of members at the close of business on Monday, November 23, 2020.
It said the register of members and the transfer books of the organisation will be closed from November 30 to December 4, 2020, both dates inclusive for the purpose of updating the register, while the bonus shares will be distributed to beneficiaries on December 16, 2020.
In the disclosure, the board of NEM Insurance is proposing to take funds from the company’s share premium account and the retained earnings account to pay for the new shares.
The board noted that it intends to access N272,551,000 from the share premium account and N2,087,197,543 from the retained earnings account, totalling N2,359,748,543.
But before this can be done, the board is seeking the approval of shareholders and has called for an extraordinary general meeting (EGM).
It was disclosed that this meeting will take place on Thursday, December 10, 2020, at 9am at the Conference Room, NEM House on Ikorodu Road, Obanikoro, Lagos.
In order to comply with the government’s COVID-19 protocols, the gathering will be attended by a few persons but most shareholders can be part of the proceedings from the live stream from the venue.
Business Post reports that NEM Insurance, which trades its equities on the Nigerian Stock Exchange (NSE) at N2.35 each at yesterday, has shares outstanding of 5,280,502,913. The new stocks will increase this to 10,000,000,000.
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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