Economy
NSE Hosts First Digital Closing Gong Ceremony
By Adedapo Adesanya
The Nigerian Stock Exchange hosted its first-ever Digital Closing Gong ceremony on Thursday, April 16, 2020, in honour of the contributions of Sterling Bank Plc to the fight against COVID-19 in Nigeria.
The closing gong, which is traditionally done on the floor of the exchange, was carried out via Instagram Live due to the temporary closure of the trading floor as a result of the current global situation.
The Chief Executive Officer (CEO) of the NSE, Mr Oscar Onyema, speaking on the innovativeness of recreating the famed closing ceremony, stated that, “It has been our pleasure to rekindle the tradition of sounding the closing gong albeit digitally with Sterling Bank Plc.
“It would be remiss of me not to thank the CEO of Sterling Bank, Mr Abubakar Suleiman, for joining us to achieve this milestone and commend him for the notable efforts Sterling Bank is making to curb the spread of COVID-19 in Nigeria and support the Nigerian economy at this time.”
“Following the activation of our Business Continuity Plan and our transition to remote working and trading, the exchange has been resolute in its commitment to ensure that there are no disruptions to operations for any of our stakeholders.
“We have leveraged our existing digital assets to ensure there is continuous flow of information and activity in the market and are now looking at how we can deploy creative solutions to enhance our stakeholders’ experience during these unprecedented times,” Mr Onyema added.
Praising efforts to tackle the COVID-19 pandemic, the NSE CEO thanked the Nigerian government, health workers and major players in their fight in combating the novel virus.
He encouraged Nigerians to stay strong, stay home and continue to comply with the directives of the government and verified health organisations in keeping everyone safe.
He further lauded efforts of Nigerians to fight this pandemic.
On his part, Mr Abubakar Suleiman, CEO of Sterling Bank Plc, said, “My appreciation goes to the NSE for leading the digital transformation of our market.
“These are interesting times we live in with the outbreak of Coronavirus changing the way we live and work. While we all come to terms with these new realities, I urge everyone to identify and leverage the opportunity we have been given to reset our nation and our businesses.”
Mr Suleiman stated that the bank was playing its part to ensure that its customers are catered for during the pandemic.
“At Sterling, we are offering a range of solutions to help Nigerians manage through temporary or extended periods of reduced or lost income as a result of the coronavirus outbreak.
“We have reduced the restructuring fees on all new and existing loans by up to 50 percent; issued an extension of the repayment of loan obligations that are due; and suspended the penal charge for late minimum repayment on customer credit cards during this period; to name a few,” 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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