Economy
Shareholders Empower CSCS Board to Pay N3.5b Dividend
By Dipo Olowookere
Shareholders of Central Securities Clearing System (CSCS) have approved the payment of N3.5 billion proposed by the board of the firm. This dividend payment amounts to 70 kobo per share for the 2017 business year.
The approval was given at the Annual General Meeting (AGM) of CSCS Plc held on Monday, May 28, 2018 in Lagos.
During the meeting, the shareholders commended the board and management of CSCS for rewarding them. They charged them to continue to do more.
However, the shareholders expressed worry that the funding of the Investment and Securities Tribunal (IST) was not equally shared among stakeholders in the capital market.
They noted funding of the tribunal should be spread to all the value chains in the market, pointing out the present arrangement was weighing on the trio of CSCS, Nigerian Stock Exchange (NSE) and the Securities and Exchange Commission (SEC).
Responding, Chairman of CSCS, Mr Oscar Onyema, agreed with the shareholders, saying everyone in the capital market should fund the tribunal since it was for all stakeholders.
Speaking on what the company plans to achieve in the future, Mr Onyema said the CSCS hopes to improve its services.
“We have unveiled our strategic business plan for 2018 to 2020 period. The strategic objectives and initiatives in the plan are anchored on the following pillars, process optimization, customers’ satisfaction, and technology improvement to deliver corporate goals, partnerships through strategic alliance across businesses and stakeholders, revenue growth. We have started leading initiatives to deliver on some of these pillars,” he said.
According to him, “We anticipate that our revenues shall continue to grow, and we shall continually keep our promise of decent return on investments for our shareholders.”
Also speaking at the AGM, the chief executive of CSCS, Mr Haruna Jalo Waziri, assured shareholders that, “We trust that as we continue to deliver value to our participants and stakeholders, our market dominance shall remain unchangeable.”
He said the company has developed a pipeline of new products in response to market need and will also reassess traditional products and services to ensure that its pricing model is smart, as well as guarantees the companies competitiveness.
CSCS Plc was incorporated on July 29, 1992 as a Financial Market Infrastructure (FMI) for the Nigerian Capital Market. It was commissioned in April, 1997 and commenced operations in April 14, 1997. On May 16, 2012, it became a Public Liability Company (PLC) by a special resolution.
The firm facilitates the delivery (transfer of securities from seller to buyer) and settlement (payment of bought shares) of securities transacted on the approved Nigerian Exchanges. It enables securities to be processed in an electronic book-entry form thereby substantially reducing the period it takes a transaction to commence and end.
Parts of its main functions include central depository for share certificates of companies quoted on The Nigerian Stock Exchange (NSE); sub-registry for all quoted securities (in conjunction with registrars of quoted companies); issuer of central securities identification numbers to shareholders; and custodian (in conjunction with custodian member(s) for local and foreign instruments.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn