Economy
Wema Bank Maintains Dividend Payout of 4 kobo as Profit Dips
By Dipo Olowookere
Shareholders of Wema Bank Plc will receive 4 kobo as dividend for the year ended December 31, 2020, the same amount they received in the previous year.
This development was confirmed by the board of the financial institution, which released the results of the lender on Monday to the Nigerian Exchange (NGX) Limited.
The amount to be paid by the lender is 33 per cent of the net profit recorded in the year under review and it is in line with the directive of the Central Bank of Nigeria (CBN) concerning the payment of dividends by deposit money banks (DMBs).
Wema Bank said it would pay the cash reward on May 25, 2021, if it is approved by the shareholders at the Annual General Meeting (AGM) scheduled for the same day in Lagos.
Another condition is that the name of a beneficiary must be on the register of members as at the close of business on May 12, 2021, and the registrar, Greenwich Registrars & Data Solutions Ltd, must have been authorised to pay the dividend directly into the bank account of the shareholder through the completion of the e-dividend mandate form.
In the period under review, Wema Bank slightly had it rough as its gross earnings decreased to N81.4 billion from N94.9 billion, while interest income reduced to N64.6 billion from N70.7 billion, with the interest expense going down to N33.7 billion from N44.7 billion but the net interest income at N30.9 billion, higher than N26.0 billion recorded in the 2019 financial year.
According to the results, the net fee and commission income increased to N8.4 billion from N8.0 billion, while the net trading income significantly dropped to N3.9 billion from N14.8 billion, with the other income going up to N4.1 billion from N1.2 billion and the operating income down to N42.1 billion from N44.1 billion.
Business Post reports that the personnel expenses were marginally down to N14.1 billion from N14.9 billion, while other operating costs dropped to N18.9 billion from N19.1 billion, leaving the profit before tax at N5.9 billion in contrast to N6.8 billion a year earlier and the profit after tax at N4.6 billion compared with N5.2 billion in 2019.
Wema Bank revealed in the results that customer deposits improved in the period under consideration to N804.9 billion from N577.3 billion, while loans to customers jumped to N360.1 billion from N289.2 billion, with the non-performing loans (NPLs) down to 4.69 per cent from 7.38 per cent a year earlier.
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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