Economy
Nigerians Don’t Pay Electricity Bill Because They’re Frustrated—TCN
By Adedapo Adesanya
The Transmission Company of Nigeria (TCN) has accused electricity Distribution Companies (DISCOs) operating in the country of frustrating the consumers, resulting in their non-payment of energy bill as expected.
Managing Director of the TCN, Mr Usman Gur Mohammed, who made this allegation while explaining why his firm sanctioned some Discos recently, stated that the actions of some DISCOs do not align with the laid down regulations of the Market Conditions/Market Participation Agreements.
Mr Mohammed accused the electricity distribution firms of refusing “to put prepaid meters in some places, [but] supply them energy for few hours and charge them on filthy charges (estimated billing or crazy billing).”
According to him, “All these claims that poor people don’t pay are all lies,” pointing out that “There is no relationship between poverty and payment of electricity bill. What the poor needs is adequate power supply, meter and give him the choice to switch on/off as he pleases.”
He said that the non-availability of these options has led to frustration on the part of electricity consumers, who have revolted by not paying up the exorbitant electricity bills and also indulge in illegal connections.
“The reality is that we have been gaming the market. People are frustrated and when frustrated, they can use several means to punish us, including refusing to pay, tapping the meters,” the TCN chief said.
He also noted that erring DISCOs have been punished for not fulfilling the agreement, noting that the TCN had in the last few weeks issued suspension and disconnection orders against Port-Harcourt, Kano, Enugu, Eko, and Ikeja DISCOs over allegations of infraction of market rules.
The body, however, lifted the suspension on Enugu, Eko, and Ikeja DISCOs after they complied with the market conditions/participation agreement while Port-Harcourt and Kano DisCos are still on suspension.
On the way forward to improving electricity in the country, The Director said, “We are not just putting capacity; we are also adding redundancy for electricity to be stable. Electricity stability requires what we called redundancy and the least you can is N-1 which means any place where they need 60KvA, you will give them 60KvA x 2 and that is what we are doing under the programme.”
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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