Economy
SEC Approves N3.234bn Rights Issue of C&I Leasing
By Dipo Olowookere
The N3.234 billion rights issue of C&I Leasing Plc has received the approval of the Securities and Exchange Commission (SEC), the apex regulator in the Nigerian capital market.
C&I Leasing considered this option of fund raising so as to recapitalise and expand the business operations of the company so as to give more value to shareholders.
This was echoed by the Managing Director/CEO of the firm, Mr Andrew Otike-Odibi, at the 28th Annual General Meeting (AGM) in Lagos in July 2019.
According to him, “The business is at a point where we need equity injection and management is working with financial advisers to look at different options that we can use to raise equity.
“One, it might be a rights issue. So, we might be calling on you very soon to support the business by taking up your rights and getting capital into the business to help the business grow to new heights.”
Some weeks after addressing shareholders of the company at the AGM, the board of C&I Leasing filed an application to the Nigerian Stock Exchange (NSE) on its intention to conduct a rights issue. The company also informed SEC about this.
Not too long ago, the SEC approval was obtained and the board has said it might begin to sell 539,003,333 ordinary shares of 50 kobo each of the firm at N6 per unit from Monday, November 11, 2019. This sale would be on the basis of four new ordinary shares for every three ordinary shares held by investors as at the close of business on Wednesday, September 4, 2019.
However, it emphasised that the November 11 date for commencement of the exercise was still shaky because SEC could fix another date for this. But it stated that the rights issue would remain open for a maximum period of 28 days.
“C&I Leasing Plc is pleased to notify its esteemed shareholders, stakeholders, the Nigerian Stock Exchange (NSE) and the general public, that the company has obtained an approval from the Securities Exchange Commission (SEC) to conduct the signing ceremony with regards to the proposed rights issue of 539,003,333 ordinary shares of 50 kobo each at N6.00 per share, on the basis of four new ordinary shares for every three ordinary shares held. The qualification date for the rights issue is Wednesday, September 4, 2019.
“Subject to the approval of the executed offer documents by the SEC, the application list is expected to open on the November 11, 2019 or any other date approved by the commission and shall open for a maximum period of 28 days.
“Rights circular will be distributed to shareholders while application forms would also be made available on the website of the company’s registrars for ease of access.
“Esteemed shareholders are advised to contact their stockbrokers and other financial advisers for more details on the offer,” the notice from the company stated.
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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