Economy
Okonjo-Iweala Hails Trade Reforms of Nigerian Customs
By Adedapo Adesanya
The Director-General (DG) of the World Trade Organisation (WTO), Mrs Ngozi Okonjo-Iweala, has commended the Nigeria Customs Service (NCS) for its bold strides in modernising operations and aligning with global trade standards.
Speaking during the 145th/146th Sessions Opening of the Customs Co-operation Council at the World Customs Organisation (WCO) headquarters in Brussels, Belgium, Mrs Okonjo-Iweala praised the leadership of Comptroller-General of Customs, Mr Bashir Adewale Adeniyi, stating that Nigeria is now setting the pace for customs excellence across Africa.
“The leadership of CGC Adeniyi has positioned Nigeria as a model for customs modernisation across the continent. These efforts are critical to strengthening global trade and ensuring that customs administrations contribute meaningfully to economic development,” Mrs Okonjo-Iweala.
The WTO boss highlighted the Nigerian customs’ recent achievements in automation, enhanced border procedures, and compliance reforms, describing them as fundamental to improving transparency and speeding up trade flows, two key pillars of WTO’s trade facilitation goals.
She further stressed the need to address complex customs technicalities such as rules of origin and valuation, warning that these issues remain “critical to effective trade facilitation” and require deeper multilateral cooperation.
In a side interaction with Mrs Okonjo-Iweala, the customs chief welcomed the commendation and reaffirmed the agency’s resolve to sustain its reform momentum.
“We are honoured by the kind words of Dr Ngozi Okonjo-Iweala, a global icon and an advocate for inclusive trade. Her recognition of our efforts is not only humbling but also energising. It affirms that the reforms we have embarked upon, particularly in areas of automation, transparency, institutional capacity, and innovative leadership, are well aligned with global best practices,” Mr Adeniyi said.
He reiterated that the NCS remains firmly committed to supporting intra-African trade through the African Continental Free Trade Area (AfCFTA) and is pushing for wider collaboration among Customs administrations across the continent.
“As we modernise our processes and embrace smarter solutions to enhance legitimate trade facilitation, we are also committed to rallying Customs administrations across Africa to fully support the objectives of AfCFTA,” he added.
Mr Adeniyi also expressed strong support for the growing synergy between the WTO and WCO, following a landmark Memorandum of Understanding (MoU) signed in January 2025.
The agreement laid the foundation for deeper collaboration in areas such as customs valuation, trade facilitation, and rules of origin.
“We commend WCO Secretary General, Mr Ian Saunders, for his visionary leadership and for reinforcing synergies between our global institutions. Nigeria is fully aligned with the objectives of this partnership and remains committed to implementing reforms that support transparent, secure, and efficient trade flows.”
The NCS emphasised that the WTO-WCO collaboration offers significant benefits for developing countries like Nigeria, especially in unlocking policy tools, institutional capacity building, and procedural support required to boost competitiveness in the global trade ecosystem.
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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