Economy
Unclaimed Dividends: Loss of Investor Confidence Imminent—Stakeholders
By Ahmed Rahma
Some stakeholders in the nation’s capital market, especially the equity arm, have warned that the plans by the federal government to take charge of unclaimed dividends of investors could have an adverse effect on the economy at large.
They argued that it is wrong for the government to contemplate making use of private funds all because the country is going through challenges in boosting its revenue streams.
According to the Chief Executive Officer of Wyoming Capital, Mr Tajudeen Olayinka, the move will put too much pressure on public companies’ additional source of finance.
The federal government wants to take over the unclaimed dividends projected to hit N200 billion by the end of the year. This would be done through the 2020 Finance Bill to be submitted to the National Assembly soon.
“If passed by the National Assembly, it would amount to deleveraging the banking system, whose stock-in-trade is cash, while at the same time, putting too much pressure on public companies’ additional source of finance.
“Capital formation and investor confidence are at stake as well,” Mr Olayinka warned.
The piece of legislation, according to many stakeholders in the market, would wane investor confidence and future growth of the market.
In the opinion of the Chairman, Association of Securities Dealing Houses of Nigeria, Mr Onyenwechukwu Ezeagu, capital market regulators and operators had leveraged technology to put in place many initiatives to address the issue of unclaimed dividends.
According to Mr Ezeagu, the initiatives include dematerialisation of shares which entails upload of quoted companies’ shares in the Central Securities Clearing System (CSCS) for ease of reconciliation; adoption of e-dividend and e-mandate; consolidation of multiple accounts; identity management engagements, and introduction of electronic initial public offering (IPO).
“Generally, the incentives for savers and capital providers in the capital market are the expectation of dividends and capital appreciation.
“It is, therefore, our considered view that the proposed legislation, if passed, will be a great disincentive to savings, long-term capital mobilisation and serious disruption of the Nigerian economy since it will take away the only expectation of investors in the market,” he submitted.
Supporting him, the President of Chartered Institute of Stockbrokers (CIS), Mr Olatunde Amolegbe, said the Securities and Exchange Commission (SEC) would always ensure the transfer of unclaimed dividends to the capital reserves of the company for restricted utilisation such as capital expansion and issuance of bonus shares to the company’s shareholders, describing the bill as objectionable at this stage of the market.
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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