Economy
Olam Offers to Acquire Dangote Flour for N130bn
By Modupe Gbadeyanka
A leading food and agri-business company, Olam International Limited, has approached the board of Dangote Flour Mills Plc with the aim to acquire the flour milling firm, which is owned by Africa’s richest man, Mr Aliko Dangote.
Olam, which owns a stake in Dangote Flour Mills, wants to buy up the remaining stake for the sum of N130 billion.
In a notice to the Nigerian Stock Exchange (NSE) on Tuesday, it was disclosed that Olam wants a total control of the company.
At the moment, Olam, through its subsidiary, Crown Flour Mills Limited, controls a total of 5,113,229 shares in the issued share capital of Dangote Flour Mills. The firm is now offering N130 billion to take control of an additional 5 billion issued shares of the milling firm.
“Dangote Flour Mills hereby notifies its shareholders, the Nigerian Stock Exchange (NSE) and the investing public that the board of DFM has received a binding offer from Olam International Limited to acquire all the outstanding and issue shares of DFM that are not currently owned by Olam through its subsidiary, Crown Flour Mills Limited.
“As at the date of this announcement, Olam, through its subsidiary, holds 5,113,229 shares in the issued share capital of DFM.
“The total consideration offered by Olam and being considered by the board of DFM for the 5 billion issued shares of the company is N130 billion. The consideration represents the enterprise value on a debt-free, cash-free basis payable in cast the closing of the proposed transaction.
“This consideration will be adjusted for net working capital and net debt as of March 31, 2019 or any other later date that may be agreed by Olam and the board of DFM to arrive at the final price payable to equity shareholders.
“The final price to be paid to the shareholders of the company would be adjusted downwards to exclude shares held by Olam through its subsidiary,” Dangote Flour Mills informed investors today.
It explained that the “transaction will be executed through a Scheme of Arrangement, under Section 539 of the Companies & Allied Matters Act Chapter C20 Laws of the Federation of Nigeria 2004 and other applicable laws, rules and regulations.”
“The offer is subject to amongst other things, shareholders’ approval, regulatory approvals, the sanction of the Federal High Court, as well as the absence of a material adverse change in DFM. If the conditions of the transaction are satisfied and same is sanctioned by the court, the company would be delisted from the Nigerian Stock Exchange,” it added.
The company promised that, “The board will review the offer in the best interest of the shareholders [and] keep both the capital markets and the public updated on tangible development in this regard, in line with the applicable regulatory requirements.”
Concluding, the company emphasised that, “Shareholders and potential investors are advised to exercise caution when dealing in DFM’s shares until a further announcement is made.”
Business Post reports that at the close of business on Tuesday, shares of Dangote Flour Mills Plc were quoted at N11.75k per unit, appreciating by N1.05k or 9.81 percent.
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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