Economy
DAAR Communications to Hold 12th AGM August 24
By Adedapo Adesanya
DAAR Communications has announced that its 12th Annual General Meeting (AGM) will hold on Monday, August 24, 2020.
This was disclosed in a statement released and signed by the Company Secretary, Mr Donatus O. Anopuo, on Tuesday.
It has been scheduled to take place at the company’s corporate headquarters on Number 1, Ladi Lawal, off Gen. T.Y. Danjuma Street, Kpaduma Hill, Asokoro Abuja, Federal Capital Territory (FCT) at 11:00 am.
According to the company, at the AGM, the board will lay before the shareholders the Audited Financial Statements for the year ended December 31, 2019, and the reports of the Directors, Auditors and Audit Committee thereon.
The event will serve as an avenue to re-elect directors for another tenure, and in addition, authorise the directors to fix the remuneration of the external auditors for the 2020 financial year.
DAAR Communications added that the meeting will also be used to elect/re-elect shareholders’ representatives on the Statutory Audit Committee.
“Notice is hereby given that the 12th Annual General Meeting of DAAR Communications Plc will be held on Monday, August 24, 2020, at the company’s corporate headquarters, No. 1, Ladi Lawal, off Gen. T.Y. Danjuma Street, Kpaduma Hill, Asokoro Abuja, Federal Capital Territory (FCT) at 11:00 am to transact the following business:
- To receive and lay before the members, the Audited Financial Statements for the year ended 31st December 2019 and the reports of the Directors, Auditors and Audit Committee thereon.
- To re-elect Directors.
- To authorize the Directors to fix the remuneration of the External Auditors for the 2020 financial year.
- To elect/re-elect Shareholders’ representatives on the Statutory Audit Committee,” the statement said.
DAAR Communications is a media and entertainment company engaged in the development, production, and marketing of entertainment news, and information. It also owns and operates a portfolio of news and entertainment television networks.
The company’s segments include Raypower FM, AIT/Television, DAAR News and DAAR UK Operations. Its Raypower FM operates Raypower 100.5 FM radio station, which debuts commercial broadcasting.
The company is listed on the Nigeria Stock Exchange (NSE) and its stock price as at the time of this report is 33 kobo.
Economy
SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs
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.
Economy
Fidson Lists Additional 600 million Shares on Stock Exchange
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.”
Economy
FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure
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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