Economy
AIICO Insurance Considers 40% Dividend Payout
By Dipo Olowookere
Managing Director/Chief Executive Officer of AIICO Insurance Plc, Mr Babatunde Fajemirokun, has said there are plans to increase the dividend payout to shareholders to 40 per cent.
At the moment, according to him, the payout is around 10 per cent of the profit made by the insurance company for a given financial year.
At a Fact Behind the Offer held last Friday in Lagos and monitored by Business Post, Mr Fajemirokun said this increase in the dividend payout is expected to happen in the coming years.
“We hope to increase the dividend payout to the company’s shareholders to 40 per cent of the profit made in the future, but we have to put some things in place to achieve this,” the AIICO CEO said.
However, he said pending the proposed increase in the dividend payout to 40 per cent in the near future, the board will like to maintain the current trend to make shareholders happy.
“We intend to keep the present level of the dividend payout at 10 per cent and improve on the level of return on investment,” Mr Fajemirokun informed participants of the event, which was organised by the Nigerian Stock Exchange (NSE) and took place via Zoom.
In the 2018 financial year, the board of AIICO Insurance recommended the payment of a final dividend of 6 kobo and for the 2019 accounting year, it proposed a bonus issue of one share for every five shares held by shareholders as at the close of business of June 25, 2020.
The company is currently having is a rights issue, where it plans to raise N3.5 billion to boost its capital base in compliance with the new regulations of the National Insurance Commission (NAICOM).
The firm is expected to increase its capital to N18 billion and the rights issue should take it to about N15.
Business Post gathered from the CEO that AIICO Insurance’s capital base was initially at N6.3 billion, but this was raised to N11.6 billion after attracting two new investors through private placements.
The shortfall from the rights issue is expected to be raised from the bonus share issue, but if the company is unable to meet the N18 billion target, funds would be drawn from the retained earnings, according to Mr Fajemirokun.
AIICO Insurance, in the rights issue, is offering a total of 4,357,770,954 ordinary shares of 50 kobo each at 80 kobo per unit on the basis of five new ordinary shares for every 13 ordinary shares held as at the close of business on Monday, June 15, 2020.
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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