Economy
Meristem Extends Subscription for Growth, Value ETFs
By Modupe Gbadeyanka
Subscription for the Exchange Traded Funds (ETFs) of Meristem Securities Limited has been extended by the management.
Deadline for the exercise was shifted forward obtaining approval from the Securities and Exchange Commission (SEC), Business Post learned.
The reason for the extension, we further gathered, was because of the disruption caused by the Coronavirus disease (COVID-19) pandemic in the country and the globe.
Meristem is offering for sale two EFTs; the Meristem Value Exchange Traded Fund and the Meristem Growth Exchange Traded Fund.
From a notice obtained by Business Post, the management said it has secured SEC’s authorisation to postpone the deadline for the exercise for two months.
“Kindly be informed that, due to the current COVID-19 pandemic situation and its impact on the investment environment, the Securities and Exchange Commission (SEC) has approved the extension of the offer for subscription to the Meristem Value Exchange Traded Fund and Growth Exchange Traded Funds by two months, effective from April 3, 2020,” the disclosure said.
“In view of the foregoing, we will like to appreciate your commitments made to the offer and are pleased to inform you that the opportunity to subscribe is still open,” it added.
“Meristem ETF can be described as The Jack of the Trade as it offers investors opportunities to achieve their investment desires in the equity market while shielding them from excessive risk.
“The indices being tracked by the ETFs are reviewed semi-annually, to ensure that all stock selected under each index keeps delivering on their promise,” the company said.
Business Post learned that the investment firm is offering for sale 50 million units of the Meristem Growth ETF at N10 each and another 50 million units of the Meristem Value ETF, also at N10 per unit.
Application for the exercise, which opened on February 25, 2020, was initially scheduled to closes on April 2, 2020.
Intending subscribers are expected to by at least 1,000 units and multiples of 100 units thereafter.
The aim of this investment tool is to provide a style investment opportunity for investors based on growth and value philosophies, saving investors the rigors of stock valuation, screening, selection, and the risks associated with liquidity, and the inability to diversify their investments.
Meristem said the Growth ETF style focuses on the historical and potential growth in key value drivers of the constituent companies and is less dependent on how the stock is trading relative to the value drivers, while value ETF style places emphasis on the price that investors are willing to pay to purchase a company’s earnings, book value, and dividend among others.
The Funds will invest in qualifying listed stocks on the Premium and Main Boards of the NSE. As such, they are expected to earn dividends from the stocks held.
Meristem is targeting all classes of individual investors, corporates, foundations, societies and local and foreign institutional investors.
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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