Economy
Consumers Groan as Petrol Stations Reject Card Payments, Insist on Cash
By Dipo Olowookere
The sufferings of Nigerians at the moment are increasing by the day as most petrol stations in Lagos are compounding their woes, fuelling their anger.
At the fuel stations monitored by Business Post on Monday and Tuesday, consumers are forced to pay for the product in cash, with card payments rejected by attendants.
Some motorists who spoke with this reporter expressed their frustration over the development, accusing the oil marketers of conniving with the government to put them through untold hardship.
“This country is frustrating. The government has made getting cash very difficult through its Naira redesign policy, and the petrol stations selling in this period of scarcity are insisting on collecting cash from us when they know getting cash is not easy,” a motorist, who identified himself as Mr Yinka Adegbule, said.
Another consumer, Mr Chukwu Osita, said, “When it got to my turn in the queue, I gave the fuel attendant my ATM card, but he said they are not collecting. When I asked why he said the network is not going.
“I was told to move my card away from the queue and look for a POS terminal to get cash.
“Going across the road, I was told that the fee for N15,000 is N3,000. I was almost crying, asking myself how we got into this mess in Nigeria.
“I was left with no choice but to pay N18,000 to get N15,000, which I later used to buy fuel into my car and jerry cans for my power generating set at home.
“I only came here to buy fuel because I heard they were selling at N185 per litre, unlike down the road where it goes for N320 per litre without a queue.”
When Business Post asked the manager of one of the petrol stations on the Egbeda/Idimu Road why they are not accepting card payments, she blamed the poor network of the banks for this.
“It is not our fault; we observed that our POS was debiting customers’ cards while declining their transactions. In order not to create issues, we had to stop and insisted on cash payment.
“We would have accepted USSD payments or transfers from bank apps, but I am not in charge of the bank account of the company. We would have to make calls to the person in charge to confirm payments before we attend to customers, which could slow the queue and create tension,” the manager said.
It was a similar situation in the Gbagada area of Lagos State yesterday at prominent oil marketers selling petrol to customers.
In Ikeja on Tuesday morning, this reporter observed that customers were also forced to make payments with cash on the excuse of poor network for the rejection of card payments.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn