Economy
MTN May Reduce Stake in Nigeria to 65%, Selloff 14%
By Dipo Olowookere
Leading telecommunications company in Africa, MTN Group Limited, is considering selling off some of its majority stake in its Nigerian unit.
The local arm of the telecom giant was listed on the Nigerian Stock Exchange (NSE) in May 2019 after years of back and forth with the domestic authorities after it was slammed with a huge fine for failing to disconnect some unregistered subscribers on its network.
MTN wants to raise fresh capital to pay down debt and simplify a portfolio of telecom businesses that spreads across Africa and the Middle East, Bloomberg said in a report yesterday.
About $4.1 billion is expected to be raised from an extended asset-sale plan, with stakes in a major towers business and the carrier’s Nigerian unit among those earmarked for sale.
To make this a reality, it is mulling to reduce majority ownership of its business in Nigeria, its biggest and most profitable market, to about 65 percent. The firm, according to Bloomberg, intends to offload about 14 percent stake in MTN Nigeria Communications Plc.
Business Post reports that at the local stock market on Thursday, MTN Nigeria was the second most traded equity, only behind GTBank, selling 37.6 million units of its shares worth N4.6 billion, with its share price closing flat at N120 per unit.
Relying on a response to an email to MTN Group, Bloomberg said spokeswoman of the firm noted that the group is also focusing investment on its main markets, including $1.6 billion for Nigeria announced on Wednesday, when executives of the company had talks with President Muhammadu Buhari in Abuja, adding that the organisation is “seriously investigating” the prospect of taking part in a planned privatisation of Ethiopia’s phone monopoly.
MTN Group has generated about $945.9 million since kicking off a strategy to offload non-essential businesses sometimes ago and is ready to step up the process.
IHS Holdings Limited, Africa’s largest operator of wireless towers, is on the list and the Johannesburg-based company valued its stake in the firm at $1.6 billion in June.
IHS is reviving plans for an initial public offering, people with knowledge of the situation said last year, after scrapping a US share sale in 2018. The Mauritius-based company declined to comment on the matter.
MTN has sold minority stakes in two tower joint ventures for $523 million, redeemed preference shares in Nigeria and offloaded e-commerce businesses such as booking site Travelstart since starting the sale program last year.
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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