Business
Lasaco Assurance Launches N18.47bn Rights Issue April
Lasaco Assurance Plc has announced a rights issue of 9,236,321,546 ordinary shares as part of efforts to reinforce its capital base and support future growth.
This was disclosed by the company during a signing ceremony that took place at its Head office in Lagos, following the approval by the Nigerian Exchange Group (NGX) and the Securities and Exchange Commission (SEC).
The company had earlier had an extra general meeting where the shareholders supported the move for the company to raise capital from the market, through the process of right issue.
The offer, priced at ₦2.00 per share, involves ordinary shares of 50 kobo each and is being made on the basis of five new shares for every six existing shares held by shareholders.
According to details released by the company, the rights issue is open to shareholders whose names appeared on the register as at the close of business on Friday, February 20, 2026. The acceptance list is scheduled to open on April 2, 2026, and close on April 24, 2026.
The offer is expected to raise approximately ₦18.47 billion, providing fresh capital to enhance the underwriting capacity of the insurer and position it for expansion within Nigeria’s competitive insurance market.
The rights being offered will be tradable on the floor of the Nigerian Exchange Limited for the duration of the offer, giving shareholders the flexibility to either take up their rights or sell them in the market.
Financial advisers to the transaction include Meristem Capital Limited as the Lead Issuing House, alongside PAC Capital as Joint Issuing House.
The capital raise aligns with ongoing efforts by insurance companies to meet regulatory requirements and improve their balance sheets, while also positioning for increased participation in large-ticket risks across sectors of the economy.
The Managing Director, Lasaco Assurance Plc, Mr. Ademoye Shobo said, “At Lasaco, we will continue to ensure that our capital is always robust, so that we’re able to deliver on the mandates to the general public.”
The post Lasaco Assurance Launches N18.47bn Rights Issue April appeared first on Business Today NG.
The Lagos State Police Command has recorded significant breakthroughs through coordinated and simultaneous operations targeting cultism and illegal arms proliferation across Ikorodu, Lagos Island, Okoko, Ilasan, Ogba, and Iju areas of the State.
The operations resulted in the arrest of twenty-three suspected cultists, recovery of five (5) firearms and other incriminating exhibits.
During the operation in Ikorodu, four suspects were arrested following credible intelligence linking them to cult-related activities. Preliminary findings indicate links to the Buccaneers Confraternity (Sea Lords).
In Lagos Island, nine suspected cultists were arrested during a raid on a criminal hideout. In Ilasan, five suspects in connection with a cult-related killing of one Emmanuel Obioson were arrested. In Okoko, one suspect with ties to the Eiye Confraternity was intercepted in possession of a firearm.
Similarly, in Ogba and Iju areas, the operations led to the arrest of four (4) suspects involved in illegal cult gatherings, assault, and other related violent crimes. Weapons used in the attacks were recovered, and victims are currently receiving medical attention.
The suspects are: Shina Wale ‘m’ 36yrs, Kehinde Kareem ‘m’ 18yrs, Mohammed Aileru ‘m’ 18yrs, Bada Mujeeb ‘m’ 18yrs, Salam Kosoko ‘m’ 30yrs, Yusuf Anjorin ‘m’ 19yrs, Quadri Abubakar ‘m’ 21yrs, Lateef Salako ‘m’ 18yrs, Fawaz Bello ‘m’ 30yrs, Oyesola Olalekan ‘m’ age 36yrs, Ubaka Justice ‘m’ age 36yrs, Emmanuel Obekpa ‘m’ age 36yrs, Sodiq Ademola ‘m’ age 36yrs, Balogun Taofeek ‘m’ 33yrs, Azeez Owolabi ‘m’ age 28yrs, Meshack Obini ‘m’ age 24yrs, Fabulous John ‘m’ age 25yrs, Promise Israel ‘m’ age 28yrs, Bright Aniedi ‘m’ age 27yrs, Familola Fikayo David ‘m’ age 24yrs, Akeem Olamilekan ‘m’ aka Magali age 43yrs, Muiz Oyedele ‘m’ age 20yrs, Hamzat Sadiq ‘n’ age 19yrs
The exhibits include: Five (5) locally made pistols, one (1) toy pistol, fifteen (15) live cartridges, three (3) expended cartridges, one (1) Police camouflage face cap, one (1) Army camouflage face cap, one (1) jack knife with the pouch.
The Commissioner of Police, Lagos State Command, reiterates the Command’s unwavering commitment to eradicating cultism and violent crimes.
He urges members of the public to remain vigilant and continue to support the Police with timely and credible information through the Command emergency lines: 07061019374, 08065154338, 08063299264, 08039344870, and 09168630929.
The post Lagos Police Arrest 23 Suspected Cultists, Recover Firearms in Statewide Raids appeared first on Business Today NG.
-
Business4 days agoJapan Moves to Raise Immigration Costs Under New Policy Proposal
-
Events3 days ago
Jilli Airstrike: Lawan Probes as NAF launches Investigation
-
Business2 days ago
PenOp Elects Donald Onuoha as President, Unveils New Executive
-
News2 days ago
DSS Re-Arraigns Malami, Son Over Alleged Terrorism Charges
