Economy
C&I Leasing Seeks NSE Approval for N3.23bn Rights Issue
By Dipo Olowookere
Some weeks ago, Business Post reported that the management of C&L Leasing was considering raising fresh capital and recapitalising its capital base so as to perform better.
Managing Director/CEO of the firm, Mr Andrew Otike-Odibi, had hinted that the capital raising would be done through rights issue “for the purpose of business expansion, loan refinancing and working capital need.” READ IT HERE
To begin the process, the stockbroker of C&I Leasing, CSL Stockbrokers Limited, has filed an application to the Nigerian Stock Exchange (NSE) for an approval and eventual listing of the rights issue on the trading platform of the exchange.
Business Post gathered that the company is planning to issue a total 539.003 million ordinary shares of 50 kobo at N6.00 each on the basis of four new ordinary shares for every three ordinary shares held.
Confirming this today in a circular, the Head of Listings Regulation Department at the NSE, Mr Godstime Iwenekhai, said the company has fixed the qualification date for the exercise for Wednesday, September 4, 2019 (today).
“Dealing members are hereby notified that C&I Leasing Plc has through its stockbroker, CSL Stockbrokers Limited, submitted an application to the Nigerian Stock Exchange (NSE) for the approval and listing of a rights issue of 539,003,333 ordinary shares of N0.50 each at N6.00 per share, on the basis of four new ordinary shares for every three ordinary shares held.
“The qualification date for the rights issue is today, Wednesday, September 4, 2019,” the circular stated.
In the first half of 2019, C&I Leasing improved its gross earnings by 27.2 percent to N16.3 billion from N12.8 billion in H1 2018. This was mainly driven by the growth in the firm’s lease rental income by 70.6 percent of total gross earnings.
Net operating income increased by 24.7 percent to N4.6 billion in H1 2019 (H1 2018: N3.7 billion), underscoring the growth in gross earnings across the various business units.
Interest income, other operating income and share of gain from marine joint venture grew 3.4 percent to N704.6 million in H1 2019 (H1 2018: N681.5 million), largely driven by returns from the company’s marine business.
Profit before tax went up 25.8 percent year-on-year to N909.2 million from N723.0 million, while the profit after tax increased by 27.1 percent year-on-year to N866.9 million from N682.2 million.
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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