Economy
New CBN Rules: See List of Banks That Won’t Pay Dividends to Shareholders
By Modupe Gbadeyanka
Last week, the Central Bank of Nigeria (CBN) announced a new policy for lenders listed on the Nigerian Stock Exchange (NSE) on the payment of dividends to shareholders.
In a circular posted on its website, the apex bank directed banks with high bad loans and low capital base not to pay dividends to their shareholders.
According to the central bank, this move was to ensure the financial institutions gather enough more to remain in business.
According to the new rules, Deposit Money Banks (DMBs) and Discount Houses (DHs) that have capital adequacy ratios of at least 3 percent above the minimum requirement, Composite Risk Rating (CRR) of ‘low’ and Non-Performing Loan (NPL) ratio of more than 5 percent but less than 10 percent, shall have dividend pay-out ratio of not more than 75 percent of profit after tax while those that meet the minimum capital adequacy ratio but have a CRR of ‘Above Average’ or an NPL ratio of more than 5 percent but less than 10 percent shall have dividend payout ratio of not more than 30 percent.
As investors anticipate the release of financial statements of banks and other companies quoted on the NSE this month, analysts at Corwy Asset have identified four banks that may not pay dividends to shareholders.
In the report obtained by Business Post, among the five biggest banks operating in the country, First Bank may not be able to pay dividends to its shareholders.
In its Q3 2017 financial results, FBN Holdings reported a non-performing loan (NPL) of 20.10 percent against the regulatory maximum of 5 percent, while its NPL for 2016 was 24.90 percent.
Other banks that may not pay dividends to shareholders, going by the new rule, include Skye Bank and Unity Bank.
In addition, the following banks are not expected to pay dividend due to their negative retained earnings/accumulated deficit positions: Union Bank (N244 billion), Unity Bank (N276 billion) and (Wema Bank N38 billion).
Furthermore, “six out of the 15 banks under our coverage would have unrestricted dividend payouts,” Cowry Asset said.
“Another five banks would pay out not more than 75 percent of the profit after tax as dividends and only one bank was restricted to a pay-out ratio of 30 percent,” it added.
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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