Economy
FG, RMAFC to Deepen Efforts to Stop Mining Revenue Leakages
By Adedapo Adesanya
The federal government, through the Ministry of Solid Minerals Development, and the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), has resolved to strengthen collaboration to block revenue leakages in the mining sector.
Speaking while welcoming the RMAFC Chairman, Mr Mohammed Bello, and his team to his office recently, the Minister of Solid Minerals Development, Mr Dele Alake, commended the efforts of the commission to boost revenue accruing to government coffers through mining operations.
Mr Bello, in his remarks, stated that the agency’s visit was hinged on pledging support for the efforts of the Minister to transform the mining sector since assumption of office.
He also extracted commitment that the commission would get his cooperation to carry out its statutory monitoring activities.
“The commission was instrumental to getting the 10 per cent monthly payment from the Natural Resources Development Fund to the Solid Minerals Development Fund (SMDF), and we know we can do much more together under your guidance and leadership to sanitise the sector, plug all loopholes and ensure the mining industry becomes a big chunk of our nation’s Gross Domestic Product (GDP),” he said.
In his submission, the commission’s chairman of the solid minerals committee and commissioner representing Zamfara State, Mr Abubakar Sadiq, lauded the Minister for his reforms and leadership that have given visibility to the mining sector, stressing the need for improved collaboration with the RMAFC to address the shortfall in revenue remittance by mining operators.
“Our evaluation of mining operations across the country has shown a shortfall in revenue to the government. There is a monitoring gap. The government and RMAFC should strengthen collaboration to seal this gap and plug leakages in the system.”
”We are also making a case for proper supervision and documentation of minerals exported through our borders whilst also urging that the environmental impact of mining operations should be looked into and minimized,” Mr Sadiq added.
Mr Alake, in his response, revealed that the federal government has put in place measures like engaging consultants to block leakages and recover funds owed by licensed operators, which he put at several trillions of Naira.
“From our efforts, so far, we have discovered to our chagrin that we are owed trillions of naira in unpaid royalties and taxes by legalised operators. We are committed to recovering these funds and also in the process of engaging internationally certified auditors to look at the system and automate the whole gamut of the revenue collection processes,” the minister asserted.
Mr Alake also restated the resolve of the government to sanitise the mining environment, ensure it contributes substantially to the nation’s revenue, and ultimately make the sector rival oil in contribution to Nigeria’s GDP.
“We are ready to collaborate with you, states, and host communities to maximise the potential of the mining sector for the benefit of all Nigerians. Our focus is to ensure that the industry translates to greater good for the greatest number of our people,” he said.
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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