Economy
Investor Pays N5.3bn to Acquire 39% Stake in AIICO Insurance
By Dipo Olowookere
As Firm Lists Addition Shares on NSE
The recent rise in the share price of AIICO Insurance Plc has caused some observers in the nation’s stock market to wonder what has been the main reason for this push.
Well, the reason for the recent positive momentum seen around the insurance stock is the new investment the company has attracted to position it as one of the forces to reckon with in the struggling sector.
From information scooped by Business Post, AIICO Insurance has got a new investor, who has acquired about 39 percent equity stake in the firm.
The new moneyback, LeapFrog III Nigeria Insurance Holdings Limited, came into the company through a private placement and from the document sighted by this newspaper, the new shares purchased by this firm have been admitted on the Nigerian Stock Exchange (NSE).
In a circular sent to stockbrokers in the market and signed by the Head of Listing Regulations Department of the NSE, Mr Head, Listings Regulation Department, LeapFrog bought 4.4 billion units of AIICO Insurance stocks at N1.20 each.
The circular dated February 19, 2020, said, “Dealing members are hereby notified that additional 4,400,000,000 ordinary shares of 50 kobo each of AIICO Insurance Plc were today, Wednesday, February 19, 2020, listed on the daily official list of the Nigerian Stock Exchange.
“The additional shares listed on the exchange arose from AIICO Insurance’s placement of 4,400,000,000 ordinary shares of 50 kobo each at N1.20 kobo per share to LeapFrog III Nigeria Insurance Holdings Limited.
“With this listing of the additional 4,400,000,000 ordinary shares, the total issued and fully paid up shares of AIICO Insurance Plc has now increased from 6,930,204,480 to 11,330,204,480 ordinary shares of 50 kobo each.”
With this deal, AIICO Insurance may likely go to sleep concerning the recapitalisation exercise put in place by the regulator, the National Insurance Commission (NAICOM), for operators in Nigeria.
NAICOM wants players in the sector to increase their capital base for better operations and they have been given till December 31, 2020 to meet up.
This has made many companies to seek extra funds through different sources, especially via rights issue, private placement or merger and acquisition.
In the new requirement, those in the life insurance business have been asked to have a minimum paid-up share capital of N8 billion instead of the present N2 billion, while the non-life insurance operators must have N10 billion versus N3 billion.
Also, the composite insurance guys have been asked to push their minimum capital from N5 billion to N18 billion, while re-insurance players have been asked to get N20 billion against the present N10 billion.
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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