Economy
Ardova Considers N60bn Bond Sale
By Dipo Olowookere
An energy company in Nigeria, Ardova Plc, is considering approaching the local debt capital market to raise fresh funds worth N60 billion.
The company announced its intention to borrow the funds in a notice to the Nigerian Stock Exchange (NSE) and the investing public.
The disclosure came hours after Business Post published a report that the company was looking to raise capital to acquire a player in the downstream oil sector in Nigeria, Enyo.
Enyo is a company with over 90 retail outlets in about 15 of the 36 states of the federation and to expand its share in the space, Ardova wants to fully take control of Enyo.
Recall that in 2019, Ardova acquired over 70 per cent stake in Forte Oil from oil mogul, Mr Femi Otedola, the son of a former Governor of Lagos State, Mr Michael Otedola.
At an analyst call for its 2020 financial results, the company said its proposed acquisition of Enyo would be funded by debt and equity.
Some hours after our report, the board announced that it hopes to float a bond programme worth N60 billion and would likely be issued in tranches.
“Ardova Plc hereby notifies the Nigerian Exchange Regulation Limited and the general public of the proposed establishment of a N60 billion bond issuance programme by the company and potential issuance of series of bonds under the programme,” a part of the disclosure said.
However, Ardova emphasised that, “The final decision to proceed with the proposed transaction will be subject to market conditions and the specific details of the proposed transaction will be disclosed in the appropriate transaction documents at the relevant time.”
It further stressed that, “Potential investors are advised that nothing in this announcement shall constitute an offering of any securities once and if the programme is established.
“Any decision to participate in and subscribe for bonds under the proposed transaction will be made based on the investor’s review of the information contained in and incorporated by reference into the shelf prospectus and pricing supplement to be published and after due consultation with its stockbroker, solicitor, accountant, banker or an independent investment adviser.”
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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