Economy
NGX Adjusts Equity Prices of Wema Bank, Okomu Oil
By Dipo Olowookere
The equity prices of two companies listed on the Nigerian Exchange (NGX) Limited, Wema Bank Plc and Okomu Oil Palm Plc, have been adjusted.
The modifications to the values of these two securities were effected at the resumption of the market on Friday, May 14, 2021, by the exchange.
For the past two days, the stock market in Nigeria was shut down as a result of the public holidays declared by the federal government on Wednesday and Thursday to mark Eid al-Fitr after Muslims ended their one-month fast called Ramadan.
On the last trading day, which was on Tuesday, May 11, 2021, the share price of Wema Bank was 59 kobo but when the market opened this morning, the price was 55 kobo, indicating that 4 kobo has been deducted.
The deduction was the dividend proposed by the board of directors of the financial institution to be paid to shareholders of the bank for the 2020 fiscal year.
As it is in the practice of the exchange, when a company recommends a cash reward to shareholders, the value is removed at the next trading session from the closing price of the stock on the qualification.
Similarly, Okomu Oil, which closed at the stock market on Tuesday at N103.50, had its value modified to N96.50 to reflect the deduction of the N7 dividend the board declared.
In the 2020 accounting year, Wema Bank maintained its dividend payout of 4 kobo, representing 33 per cent of its net profit, in line with the directive of the Central Bank of Nigeria (CBN) concerning the payment of dividends by deposit money banks (DMBs).
In the period, the lender recorded a profit before tax of N5.9 billion in contrast to N6.8 billion in 2019, while the profit after tax stood at N4.6 billion compared with N5.2 billion in the preceding year.
On May 25, 2021, Wema Bank will pay the dividend if it is approved by the shareholders at the Annual General Meeting (AGM) scheduled for the same day in Lagos.
On the part of Okomu Oil, its AGM has been fixed for May 26, 2021, the same day the N7 dividend would be paid to qualified shareholders.
In the 2020 year reporting year, the company grew its profit after tax by 54.1 per cent to N7.78 billion from N5.05 billion of the previous 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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