Economy
Shelter Afrique to Raise N250bn Housing Bond
By Aduragbemi Omiyale
A pan African housing finance and development institution, Shelter Afrique, is planning to raise about N250 billion housing bond next month aimed to address the housing deficit in Nigeria.
Shelter Afrique was created by African governments to address the need for a sustainable housing delivery system and related infrastructure projects on the continent.
Shareholders include 44 African countries, the African Development Bank (AfDB), the African Re-Insurance Corporation, and Fonds de Solidarité Africain (FSA).
At the moment, Kenya is the highest shareholder with 17.78 per cent, followed by Nigeria with 13.27 per cent of the shareholding, and the AfDB with 12.83 per cent.
But Nigeria intends to increase its stake above Kenya and has pledged to pay the full capital arrear of $28.7 million in Shelter Afrique, according to the country’s Minister of Finance, Ms Zainab Ahmed.
At a meeting with the Group Managing Director and CEO of Shelter Afrique, Mr Andrew Chimphondah, in Abuja, she said the payment would be made in four instalments starting from January 2022.
This development excited Mr Chimphondah, who lauded the Nigerian government for its show of confidence in the institution and a stamp of approval for the organisation’s financial turnaround.
“This is a major milestone which is set to propel Nigeria to become the largest shareholder in Shelter-Afrique when the country meets its capital commitment.
“This is a strong testament of the strong shareholder commitment and support of the Shelter Afrique board and management,” he commented.
He stated that Shelter Afrique will soon commence a roadshow for the N250 billion ($500 million) housing bond to support its affordable housing projects in Nigeria.
“Shelter Afrique has embarked on a defined strategy of developing and deepening local capital markets so that access to local currency which is competitively priced can be made available to Nigerian developers from the Real Estate Developers Association of Nigeria (REDAN), large developers and Tier 1 and Tier 2 banks and primary mortgage lenders.
“The significance of this is that Shelter Afrique will have been successful in dealing with the foreign exchange exposure risks that have crippled many African countries caused by the weakening of local African currencies against hard currencies such as the United States Dollar and the British Pound Sterling,” Mr Chimphondah said.
He thanked Ms Ahmed for supporting the bond issue by the approvals received on critical waivers from the Ministry of Finance, noting that Nigeria was a critical and strategic market for Shelter Afrique.
The CEO further stated that the fund realized from the bond issue will go a long way in addressing the affordable housing shortage in the country, now estimated at 17 million units against the continent’s 56 million units.
“As a response to addressing this housing shortage, Shelter Afrique will implement a transformative strategy that will crowd in additional capital funding into the low-cost large scale affordable housing market in a commercially viable manner,” Mr Chimphondah concluded.
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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