Economy
NGX Lifts Suspension on NEM Insurance After Share Reconstruction
By Dipo Olowookere
The suspension placed in the trading of equities of NEM Insurance Plc has been lifted by the Nigerian Exchange (NGX) Limited, a circular from the bourse has confirmed.
The embargo was removed following the conclusion of the share capital reconstruction of the underwriting company.
The exercise resulted in the changing of the entire issued share capital of the company’s 10,032,955,535 ordinary shares of 50 Kobo each at N2.42 per share to 5,016,477,767 ordinary shares of N1.00 each at N4.84 per share.
After the share reconstruction, the old stocks were delisted from the exchange, while the new ones were listed on the trading platform today, according to the disclosure.
“We refer to our market bulletin of December 24, 2021, with reference number: NGXREG/LRD/MB60/21/12/24, wherein the market was notified that the full suspension placed on trading in the shares of NEM Insurance Plc was extended to December 29, 2021, to enable listing of the company’s reconstructed shares on the NGX.
“Trading license holders and the investing public are hereby notified that the suspension placed on trading in the company’s shares was lifted today, Wednesday, December 29, 2021, following the completion of NEM Insurance’s share capital reconstruction.
“Consequent to the completion of the share reconstruction exercise, NEM Insurance’s entire issued share capital of 10,032,955,535 ordinary shares of 50 Kobo each at N2.42 per share was delisted from NGX’s daily official list while the 5,016,477,767 ordinary shares of N1.00 each at N4.84 per share arising from the share capital reconstruction were listed on NGX’s daily official List on the same day.
“With the completion of the company’s share capital reconstruction, the total issued and fully paid-up shares of NEM Insurance Plc has now reduced from 10,032,955,535 ordinary shares of 50 Kobo each to 5,016,477,767 ordinary shares of N1.00 each while the market capitalisation remained at N24,279,752,394.70,” the notice said.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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