Economy
Airtel to Buy Back 8.27% Minority Stake in Nigerian Subsidiary
By Sodeinde Temidayo David
Airtel Africa Plc on Monday announced plans to buy back the 8.27 per cent minority stake in Airtel Networks Limited, its Nigerian subsidiary.
The telecommunications company, in a notice to the Nigerian Exchange (NGX) Limited, said it plans to make the acquisition at an offer price of N55.81 per share.
It further disclosed in the notice that if all the stocks belong to the minority shareholders are released, the transaction would cost about N61.24 billion, equivalent to $148.1 million at an exchange rate of N413.38/$1 at the Investors and Exporters (I&E) segment of the foreign exchange (FX) market in Nigeria.
Airtel Africa Plc is a multinational company that provides telecommunications and mobile money services in 14 countries in Africa, primarily in East, Central and West Africa. This includes various offices in Nigeria, offering mobile voice, data and money services.
Following this development, shares of Airtel Africa on the London Stock Exchange, precisely on the FTSE-250 constituent, a capitalisation-weighted index consisting of the 101st to the 350th largest companies listed on the LSE, were down by 1.8 per cent at 96.60 pence (approximately N534.90) on Monday.
Also, Business Post observed that on the NGX, where shares of the company are also traded, were flat at N715 per unit.
Meanwhile, Airtel Africa has also announced that Mr Olusegun Ogunsanya began his new role as Managing Director and Chief Executive last Friday.
Mr Ogunsanya joined the company in 2012 and was previously chief executive of Airtel Nigeria, responsible for the management of operations in the firm’s largest market. Before joining Airtel, he held leadership roles at Coca-Cola in Ghana, Nigeria, and Kenya.
“I am looking forward to building on the solid foundations the group has established for future sustainable growth across Africa,” commented Mr Ogunsanya.
According to Mr Ogunsanya, Airtel will invest even more in its network and distribution channels to serve the communities where it operates.
He added that by doing this, the group will continue to sustainably bridge the digital divide, expand financial inclusion and meet the evolving needs of customers.
Airtel is set with the vision to enrich the lives of customers, with an obsession to win customers for life through an exceptional experience.
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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