Economy
NMRC Raises N11b Bond to Refinance Eligible Mortgage Loans
By Dipo Olowookere
The Nigeria Mortgage Refinance Company (NMRC) has promised to use proceeds from the N11 billion 13.80 percent series 2 bond to refinance eligible mortgage loans originated by the participating mortgage lending banks.
A statement issued by NMRC said the N11 billion bond issuance under its N440 billion medium term note programme was largely subscribed to by domestic investors by more than 200 percent, with the Pension Fund Administrators representing over 70 percent of the investors.
The bonds were priced at a spread of about 74 basis points above the interpolated 15-year FGN yield of 13.06 percent as of the opening of book building.
The series 2 bonds were unconditionally and irrevocably guaranteed by the Federal Government of Nigeria and thus ascribed an ‘AAA’ rating by both Global Credit Rating Co. and Agusto & Co.
According to NMRC, the raising of the bond is part of its primary mandate of providing liquidity to the Nigerian mortgage market.
“This is coming on the heels of its inaugural N8 billion 14.9 percent series 1 bond issue in July 2015, which was fully deployed towards refinancing legacy mortgage loan portfolios of the participating eligible member-mortgage lending banks,” the statement said.
“The bond issuance reinforces our commitment to encourage and promote homeownership in Nigeria by linking the capital markets with the housing sector, and establishing an operating and viable secondary mortgage market to support the primary mortgage market,” Managing Director of NMRC, Mr Kehinde Ogundimu, was quoted as saying in the statement.
Chairman, Dunn Loren Merrifield Advisory Partners, Mr Sonnie Ayere, stated that the high subscription level for the series 2 bonds was indicative of the strong investor appetite for the long-tenured asset class and underscored the confidence reposed in the underlying principle and operating model of the NMRC.
He noted that the Nigerian mortgage market would witness a significant boost as the mortgage pre-financing facility, Mortgage Warehouse Funding Limited, began its operations.
“The MWFL is sponsored by the NMRC, member mortgage banks, Mortgage Bankers Association of Nigeria, Lion’s Head of Global Partners through the African Local Currency Bond Fund and the DLM Group,” he 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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