Economy
RT Briscoe Launches Recapitalization Fund
RT Briscoe Nigeria Plc is proud to announce the launch of a first of its kind, the “R.T. Briscoe Savings and Investment Fund”. The fund is the first to allow investors to save within a regulated vehicle towards investing in the capital of a target company. Following approval from the Securities and Exchange Commission (SEC). This milestone marks a significant step in RT Briscoe’s commitment to providing innovative opportunities to its existing and potential shareholders to invest in the company with a savings plan.
This approach ensures that investors can own a stake in R.T. Briscoe Nigeria PLC through a saving plan (monthly or otherwise) towards their target investment amount in the company., This makes it much easier and very accessible to a broader range of investors who may not have the one-off capital to invest at once but, instead would be able to save towards it over a period of time.
The R.T. Briscoe Savings and Investment Fund is an open-ended money market fund with the primary objective being to offer unitholders a steady stream of income whilst they save towards their target investment in the company and also provide the investor with capital preservation at the point of the conversion into ordinary shares of R.T, Briscoe.
By investing the pooled funds into a diversified portfolio of high-quality money market instruments, the fund ensures low risk and competitive returns. Essentially, this is a save-to-invest in your company, R.T. Briscoe.
The fund is professionally managed by DLM Asset Management Limited who recently won the best Asset Management company of the year at the African Industrial and Development Conference and Awards.
This accolade underscores their commitment to ensuring expert oversight and strategic investment decisions. First City Monument Bank Limited serves as the custodian, while UTL Trust Management Services acts as the trustee, providing additional security and transparency.
With a minimum subscription of 10 units at N1,000 per unit, the fund is accessible with a minimum investment of N10,000. The fund comprises 1,000,000 units available for subscription, providing many opportunities for investors.
Additionally, the fund offers liquidity, allowing easy access to investments and the final option to convert the investor’s holdings into equity ownership in R.T. Briscoe Nigeria PLC.
Seyi Onajide, Group Managing Director and Chief Executive of RT Briscoe Nigeria Plc, expressed his enthusiasm about the launch: “We are thrilled to introduce the R.T. Briscoe Savings and Investment Fund, demonstrating our dedication to providing reliable and accessible investment opportunities that empower all investors to achieve their investment goals in our company with ease.
“This launch underscores our commitment to innovation and growth, offering clients an opportunity to save to own a part of R.T. Briscoe Nigeria PLC. We believe this fund will not only ultimately enhance our capital position, but also reinforce our leadership across our diverse businesses, including Automobile, Industrial Air Compressor, Material Handling, Industrial Equipment, Power, and Real Estate.
Ugonnaya Osi, MD of DLM Asset Management, commented on the RT Briscoe Nigeria Plc fund, emphasizing, “With the expertise of DLM Asset Management Limited and the unwavering support of our trusted partners, we are confident that the RT Briscoe Fund will deliver significant value to our investors and the company.
“As stewards of the RT Briscoe Fund, our commitment extends beyond mere management; we aim to maximize returns and foster sustained financial growth through meticulous oversight and strategic foresight. This dedication ensures that every investment decision is informed by a deep understanding of market dynamics and investor needs, reinforcing our pledge to deliver excellence in financial management,” she added.
Investing in the R.T. Briscoe Savings and Investment Fund is straightforward. Interested individuals can fill out a subscription form and complete the Know Your Customer (KYC) requirements and just make their target monthly or otherwise payments towards owning a part of Nigeria’s corporate history. For more information and to access the forms, visit https://dlm.group/rtbfund/
RT Briscoe Nigeria Plc invites the public to join in this exciting investment opportunity and take the first step towards the financial growth and stability of our investors and R.T. Briscoe’s future.
By Adedapo Adesanya
Despite signs that Nigeria’s headline inflation is easing, rising food prices continue to threaten the country’s inflation outlook, the chief executive of the Centre for the Promotion of Private Enterprise (CPPE), Mr Muda Yusuf, has warned.
He noted that structural inflationary pressures in the real economy remain pronounced despite improving macroeconomic stability.
In a policy brief released following the inflation report, he noted that headline inflation eased marginally, while month-on-month change moderated from 1.75 per cent to 1.66 per cent, indicating that headline inflation has largely plateaued.
According to him, the dominant concern in the latest inflation report is the renewed acceleration in food inflation.
This growth, he said, suggested that food prices have resumed an upward trajectory after a brief period of moderation.
Warning that a renewed increase in food inflation has significant economic and social implications, he stressed that food inflation remained the biggest driver of Nigeria’s cost-of-living crisis, stressing that rising food prices continue to erode household purchasing power, worsen poverty and food insecurity while weakening the inclusiveness of the current reform programme.
He maintained that sustained moderation in food prices is critical to improving citizens’ welfare and strengthening public confidence in the ongoing economic reforms.
Acknowledging the easing of core inflation as encouraging, he drew attention to the persistence of urban inflation.
At 16.08 per cent, urban inflation exceeded the national headline inflation rate of 15.91 per cent, while month-on-month urban inflation increased from 1.99 per cent to 2.13 per cent.
According to Mr Yusuf, the figures indicated that inflationary pressures remained particularly intense across urban centres.
He attributed the rising urban inflation partly to increasing population displacement from rural communities affected by insecurity, expressing worry that as more households migrate to urban areas, demand for housing, transportation, utilities and other essential services would increase, adding to inflationary pressures and creating additional urbanisation challenges.
Addressing insecurity in farming communities, he said, was important not only for protecting lives and property and boosting agricultural output but also for easing cost pressures in urban centres, adding that the June CPI data reinforced the view that Nigeria’s inflation challenge is predominantly structural rather than monetary.
On the monetary policy outlook, he said the data do not justify further monetary tightening, arguing that headline inflation has largely stabilised.
The CPPE chief expected the Monetary Policy Committee (MPC) to retain the current monetary policy rate at its next meeting, adding that the priority is for monetary and fiscal authorities to work together to accelerate structural reforms to expand food supply, improve logistics, reduce energy and production costs, lower debt service costs, as well as strengthen domestic value chains.
By Aduragbemi Omiyale
Additional shares of Sterling Financial Holdings Company Plc have been listed on the Nigerian Exchange (NGX) Limited.
The new equities were added to the company’s existing stocks on Customs Street on Thursday, July 16, 2026, a notice from the bourse confirmed.
Business Post reports the total new ordinary shares of Sterling Holdings listed yesterday were 13,812,239,000 units.
They were from the offer for subscription of 12,581,000,000 ordinary shares of 50 Kobo each sold for N7.00 per share, which was oversubscribed by investors.
The financial institution brought the new shares to the stock exchange to increase its total issued and fully paid-up shares to 65,929,251,414 ordinary shares of 50 Kobo each from 52,117,012,414 ordinary shares of 50 Kobo each.
“Trading licence holders are hereby notified that an additional 13,812,239,000 ordinary shares of 50 Kobo each of Sterling Financial Holdings Company Plc were on Thursday, July 16, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares listed on NGX arose from the company’s offer for subscription of 12,581,000,000 ordinary shares of 50 Kobo each at N7.00 per share.
“With the listing of the additional shares, the total issued and fully paid-up shares of Sterling Financial Holdings Company Plc have now increased from 52,117,012,414 to 65,929,251,414 ordinary shares of 50 Kobo each,” the notice read.
By Adedapo Adesanya
President Bola Tinubu has signed a Presidential Executive Order on Virtual Assets Coordination, establishing a new framework to coordinate the regulation of virtual assets across government agencies as Nigeria seeks to curb fraud while supporting innovation in the digital economy.
The Executive Order, which takes immediate effect, creates a Virtual Asset Council chaired by the Central Bank of Nigeria (CBN) to harmonise oversight of cryptocurrencies, tokenised assets, stablecoins, and other digital assets without creating a new regulator.
As part of the new framework, the CBN will establish a regulatory sandbox that will allow eligible firms to test virtual asset products, blockchain solutions, and related services under regulatory supervision before they are introduced to the wider market.
The development was disclosed in a statement issued on Friday by the President’s Special Adviser on Information and Strategy, Mr Bayo Onanuga.
According to the presidency, the Executive Order responds to the growing complexity of virtual assets, which increasingly cut across the traditional boundaries of currencies, securities, commodities, and payment systems.
The fragmented regulatory environment has left gaps that have exposed Nigeria to money laundering, terrorism financing, cybersecurity and data privacy risks, fraud, and revenue losses.
The government said some unregistered operators have exploited these regulatory gaps to defraud unsuspecting Nigerians, resulting in significant financial losses.
“The Order is designed to close these gaps through supervisory coordination, without introducing new layers of regulation or displacing the mandates of existing agencies,” the statement read.
Under the new framework, the Virtual Asset Council will be chaired by the CBN, with the Nigeria Revenue Service (NRS) and the Securities and Exchange Commission (SEC) serving as vice chairs. Other members include the Nigerian Financial Intelligence Unit (NFIU) and the Office of the National Security Adviser (ONSA).
The Council will provide policy direction, improve cooperation among participating agencies, and work with the Attorney General of the Federation to develop a harmonised legal and institutional framework for the sector.
The Executive Order also establishes a Virtual Asset Office, which will serve as the Council’s operational arm. The office will be domiciled at the CBN and will coordinate information sharing, applications, and reporting among the participating agencies through a shared supervisory technology platform.
The presidency stressed that the Executive Order does not create a new regulator or transfer statutory powers from existing agencies, clarifying that instead, each institution will continue to exercise its existing mandate while working within a coordinated framework.
Under the arrangement, registration of virtual asset businesses will depend on the nature of the service being offered.
Activities classified as securities will continue to be regulated by the SEC, while payment, settlement, custody, and other services involving non-security virtual assets will fall under the CBN.
Where there is uncertainty over regulatory jurisdiction, the Virtual Asset Council will determine the appropriate supervising agency.
“The sandbox will provide a controlled environment in which eligible operators can test and operate virtual asset products, services, and blockchain-based solutions under close supervision, enabling the participating agencies to assess the implications for monetary sovereignty, financial stability, market integrity, consumer protection, financial inclusion, and revenue administration before products reach the wider market,” the statement added.
According to the presidency, the sandbox will enable regulators to evaluate the implications of emerging products for financial stability, monetary sovereignty, consumer protection, financial inclusion, market integrity, and revenue administration.
The central bank is expected to announce further details of the sandbox.
