By Anthony Isaac, Abuja
The Securities and Exchange Commission (SEC) has announced that listed companies declared a total of N1.1 trillion in dividends to shareholders in 2024.
The Director-General of the SEC, Dr. Emomotimi Agama, made this disclosure at the first-quarter Capital Market Committee (CMC) meeting held recently in Lagos.
In a statement issued by the Commission on Sunday, Agama stated that out of the declared dividends, N1.0 trillion has already been paid to shareholders. According to him, this reflects improved market confidence and enhanced investor returns.
Agama also revealed that between January and December 2024, the Commission approved a total of N3.68 trillion in new issues.
“This comprised N59.82 billion in fixed income issuances and N3.62 trillion in equities, reflecting strong investor appetite and issuer confidence in the equity segment of our market,” he said.
He added that from January to April 2025, new issues worth approximately N446.38 billion had already been approved.
“Of this amount, N265.90 billion was raised through fixed income instruments, while N180.48 billion was mobilised via equities,” he noted.
On mergers and acquisitions, Agama said that the Commission approved 11 transactions in 2024, with a total value of N320.36 billion.
“Most notable among these was the acquisition of a 58.02% equity stake in Guinness Nigeria Plc by N Seven Nigeria Ltd., valued at over N103.7 billion.
“There were also three corporate restructuring transactions, two share capital reconstructions, one takeover, and four registrations of securities.
“Among the notable restructuring transactions was the scheme of arrangement involving Flour Mills of Nigeria Plc, valued at over N105 billion, and the share capital reconstruction by Transnational Corporation Plc, which included a one-for-four share consolidation amounting to N5.08 billion,” he explained.
Speaking further, Agama said the Commission had approved three major transactions year-to-date in 2025, valued at N38.53 billion.
“These include two takeovers and one corporate restructuring. While no mergers have been recorded during the review period, market activity remains steady with continued interest in strategic consolidation and reorganisation across key sectors.
“These activities highlight ongoing strategic realignments within the market,” he said.
On collective investment schemes, Agama reported significant growth, with a combined net asset value of N3.84 trillion as of the fourth quarter of 2024.
“Registered mutual funds rose to 184, with over 800,000 unitholders and a combined net asset value of N3.84 trillion.
“Privately managed portfolios and products expanded to 444 vehicles, with total assets under management reaching N4.69 trillion. In total, 82 active asset management firms now oversee N8.53 trillion in investments.
“These figures underscore a maturing market, where professional fund management is increasingly seen as vital to capital formation and wealth creation,” he added.
Agama emphasized that sustained activity across both debt and equity markets continues to support growth and investment by issuers.
