Economy
Abraaj ‘Takes Over’ 70% Stake in C&I Leasing
**As C&I Leasing Plans to Dilute Abraaj Holdings to 30%
**Mulls IPO, Rights Issue
By Dipo Olowookere
Information has it that Abraaj Group, the private-equity firm established in 2002 by a Pakistani businessman, Mr Arif Naqvi, is now acquiring about 70 percent stake in a Nigeria-based company, C&I Leasing Plc.
Recall that two days ago, the Nigerian firm announced that Abraaj had agreed to convert its $10 million loan stock to equity in the company.
A report by Bloomberg quoted Chief Executive Officer of C&I Leasing, Mr Andrew Otike-Odibi, as saying that Abraaj felt taking its funds out of the firm could wreck the business. As a result, it considered the option of staying to convert the debt to equity.
“Abraaj knows that pulling out $10 million will be detrimental to the growth of the business, so rather than cash out, they decided to convert (to the company’s shares),” Mr Otike-Odibi was quoted to have said by phone from Lagos.
With this, according to Bloomberg, “Abraaj Group, the private-equity firm that collapsed after defaulting on debt, will get a 70 percent stake in C&I Leasing Plc by converting a $10 million loan into equity in the Nigerian company.”
Mr Otike-Odibi further said already, C&I Leasing is planning a rights issue or an initial public offering that may dilute Abraaj’s stake to about 30 percent.
Abraaj, once one of the most high-profile private-equity companies in the Middle East until its dramatic failure last year, is being restructured by liquidators in a bid to settle more than $1 billion of its debts through asset sales.
Bloomberg said the firm’s Lagos office didn’t respond to an email seeking comment.
Business Post reports that C&I Leasing, which is presently on suspension with a share price of N1.78k per unit, announced in December 2018 that it was reconstructing its share capital by 75 percent on a ratio of four existing shares to a new share.
By our calculations, this will reduce the company’s share capital to about 404.3 million from 1.6 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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