Economy
NASD Plans to Launch New Market
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange has disclosed that it will launch a new market to accommodate upheavals brought about by the coronavirus pandemic.
In a webinar held on Friday themed New World, New Market, the NASD Plc Managing Director, Mr Bola Ajomale, said that the company has had to adjust its operations following the experiences in the first half of the year, as the disruption made it clear that going remote was the future.
He said, “We are launching a new market to accommodate the times. Despite the pandemic, there have been success stories in some quarters.”
“NASD’s new market is structured to facilitate success in our new world,” he added.
Mr Ajomale explained that despite what had seemed like a challenge, the OTC market recorded more activities in the first six months of the year than it did in the whole of 2019, adding that NASD would continue to explore more.
He reiterated that NASD would expand its service points while it makes no change to its value point in terms of building trust, transparency, liquidity, and visibility to its investors and issuers moving forward.
Mr Ajemole said further that as parts of its offering to ensure opportunity for companies to raise public capital, it was looking at more initial public offerings (IPOs) and private equities.
He added that the market was aimed at raising debt securities such from commercial bonds to commercial papers, with consideration to other capital raising instruments such as blockchain and crowdsourcing.
Looking at NASD’s performance, Mr Ajemole said its market capitalisation grew five per cent by N24.5 billion between January and June to N525.59 billion with a higher growth of N16.8 billion recorded in the second quarter while N7.7 billion was recorded in the preceding period.
The growth, he said, is attributed to the admittance of three new securities – Great Nigeria Insurance (GNI) Plc; VFD Group Plc; and Newrest Plc which spurred the market index to rise by 2.5 per cent (Q1: -0.98 per cent, Q2: +3.29 per cent).
The NASD Plc MD said the company has added NASD VentureRamp, a primary market as its third business unit to help with crowdfunding from the public after the NASD OTC Securities Exchange, NASD Enterprise Portal (NASDeP) which was launched in 2018 to support private companies.
For the second leg of 2020, Mr Ajemole said they will be expecting to admit the demutualised Nigerian Stock Exchange (NSE) shares to trade on NASD OTC.
He said the exchange expects three new instruments to be introduced to the market as it awaits rules to be passed on Commercial paper and implementation of a new trading platform which is still in still in progress.
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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