Economy
Core Investor at UAC Nigeria Sells 10 million Stocks
By Dipo Olowookere
A substantial shareholder of UAC Nigeria Plc, Blakeney LLP, has sold about 10 million units of the company’s stocks at the exchange.
The sale of the conglomerate shares by the institutional investor was carried at two different trading sessions last month.
According to the notification of share dealing by insiders released by UAC Nigeria to the Nigerian Stock Exchange (NSE) dated Tuesday, May 5, 2020, the sales of the equities were executed on Friday, April 24, 2020 and Tuesday, April 28, 2020.
During the first offloading of the stocks, Blakeney sold 6 million units at a unit price of N6.20, while for the second tranche, it sold 4 million units at about N6.21 each.
From the transactions, Business Post reports that Blakeney cashed out about N62.0 million and the reason for the sales was not known as at the time of filing this report.
On November 15, 2017, UAC Nigeria started a rights issue of N15.36 billion by offering 960.43 million ordinary shares of 50 kobo each at N16 per share to pre-qualified shareholders. The new shares were pre-allotted to shareholders on the basis of one new share for every two shares held as at the close of business on Thursday October 19, 2017.
After the exercise, three major shareholders emerged with more than five percent equity stake in the conglomerate.
Stanbic IBTC Nominees had 8 percent equity stake of 225.23 million units, Themis Capital Management also controlled 8 percent equity stake of 232.35 million units, while Blakeney had 6 percent equity stake of 165.79 million units.
Business Post gathered that Blakeney is one of the pioneers of institutional investment in Africa and the Middle East. Since 1995, the firm has been investing in both regions on behalf of some of the most sophisticated endowments, foundations, pension funds and family offices in the world.
The company has a Nigerian, Mr Obiora Ogbunude, as one of its team members. He started at Blakeney in 2001 following his graduation from the London Business School (MBA) in 2000. He is also a qualified physician and holds a Bachelor of Medicine and Surgery degree (MB BS) from the University of Benin (UNIBEN) in Nigeria.
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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