Economy
Atiku Was Never Head of Economic Management Team—Ezekwesili
By Aduragbemi Omiyale
A former Nigerian Minister, Mrs Oby Ezekwesili, has asked former Vice President Atiku Abubakar to stop parading himself as the head of the Economic Management Team of former President Olusegun Obasanjo.
Mr Obasanjo governed the country as a civilian between 1999 and 2007 with Mr Atiku, who intends to become the next Nigerian president this year.
He is contesting the position with the candidate of the ruling All Progressives Congress (APC), the candidate of the Labour Party, Mr Peter Obi, and others.
On Monday, the former VP, through his official Twitter page, said, “As the head of the economic management team, while I was Vice President, I was instrumental in designing a private sector revival strategy and advocated the opening of the economy for private sector investments in several sectors, and we made tremendous progress.”
But the co-convener of the Bring Back Our Girls (BBOG) movement, in response to the tweet, described Mr Atiku’s claim as a lie, saying he never headed the Economic Management Team but the National Economic Council (NEC), which the constitution makes provision for the VP to lead.
“Dear former Vice President Atiku, please ask the handlers of your @Twitter account to stop misleading the public. You were never the Head of the Economic Management Team.
“This absurd lie does you no good at all. Please ask your Team to stop it,” she responded.
She further wrote, “There is a difference between the Economic Management Team set up for the 1st time ever in 2003 by President Obasanjo and the National Economic Council established by the 1999 Constitution as amended; Section 153(1) and Paragraphs 18 & 19 of Part I of the Third Schedule.
“The Presidential Economic Management Team (we called it “The Economic Team” for brevity) was a Technical Team of 12 persons from a range of expertise whom President Obasanjo constituted to drive Nigeria’s Economic Reforms Agenda during his 2nd Term in office 2003-2007.
“In constituting the Economic Team, we designed it @ two levels of Leadership: 1. Political Leadership [headed by] President Olusegun Obasanjo, and the Technical Leadership [headed by] The Minister of Finance, Dr Okonjo-Iweala.
“Our Team also had Thematic Issues Lead, e.g. I was for Good Governance.
“At the Political Leadership level of the Economic Team, the then President, Olusegun Obasanjo, instituted a Weekly Meeting before the Federal Executive Council where he would meet with us his Economic Team to discuss the Economic Reform Agenda. The President was Chair.
“As Chair of the Political Leadership Level of the Economic Team, the then President decided (usually with the counsel of his Economic Team) which sectoral Ministers, or Heads of Agencies, Parastatals and Departments joined this Weekly Wednesday meeting held before FEC meeting.
“As Chair of the Technical Level Leadership, the then Minister of Finance was the Head of our Technocratic Team of 12 persons, which met in her office at the Ministry statutorily weekly and as often as necessary daily as we designed and began implementing the Economic Reforms.
“There is no sincere basis for confusing the work of the Presidential Economic Management Team that I described in the previous tweets with the National Economic Council, provided for in the Constitution and chaired by a Vice President. The functions are not the same at all. None.
“National Economic Council consists of: (a) Vice-President as the Chairman; (b) the Governor of each State of the Federation; and (c) the Governor of the Central Bank of Nigeria established under the Central Bank of Nigeria Decree 1991 or any enactment replacing that Decree.
“Constitutionally, National Economic Council advises the President concerning the economic affairs of the Federation, and in particular on measures necessary for the coordination of the economic planning efforts or economic programmes of the various Governments of the Federation.
“The National Economic Council, which former Vice President Atiku constitutionally chaired and now by Professor Osinbajo, is really an advisory organ that provides an opportunity for the Federal Government and States of the Federation to discuss our Economy for coordination purposes.
“The 1999 Constitution also has the Vice President as the Chairperson of the National Council on Privatization. In that capacity, it is the duty of the Vice President to supervise the work of the Bureau for Public Enterprise BPE on behalf of the President.”
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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