Economy
AfDB, Others Worsening Nigeria’s Debt Burden—World Bank
By Adedapo Adesanya
The World Bank Group and the International Monetary Fund (IMF) have warned Nigeria, South Africa and other low-income nations to be careful with activities of the International Financial Institutions (IFIs) such as the African Development Bank (AfDB), Asian Development Bank, the European Bank for Reconstruction and Development and others because these international lenders are adding to their heavy debt profiles.
Speaking at at a World Bank-IMF Debt Forum on Monday in Washington DC, president of the World Bank, Mr David Malpass, noted that these development banks and IFIs were further worsening already-challenging debt situations.
“We have a situation where other international financial institutions and to some extent development finance institutions as a whole, certainly the official export credit agencies, have a tendency to lend too quickly and to add to the debt problem of the countries,” Mr Malpass said.
He said, “In Pakistan, the Asian Development Bank is pushing billions of dollars into a fiscally challenging situation.
“In the case of Africa, the African Development Bank is pushing large amounts of money into Nigeria, South Africa and others without the strongest program to sustain it and push it forward.
“In Kazakhstan, the EBRD is pushing forward with loans where lots of work is put in by other institutions and then the lower interest-rate investment is made.
“And so, we have a very real problem of the IFIs themselves adding to the debt burden. And there’s pressure then, I think, on IMF to sort through it and look at the best interest for the country.”
Business Post, citing latest figures by the Debt Management Office (DMO), as at September 2019, reported that the total debt profile of Nigeria stood at N26.2 trillion, with Total External Debt at N8.3 trillion while the Total Domestic Debt was at N17.9 trillion.
To remedy this, the World Bank, through its fund for the poorest countries, the International Development Association, said it would be implementing a new set of lending rules on July 1, 2020 as it unlocks a new round of funding expected to make some $85 billion in loans and grants available.
According to Mr Malpass, these are aimed at setting new standards for transparency and require coordination with other multilateral lenders working with the same country.
During the event, the IMF Managing Director, Ms Kristalina Georgieva, warned that the interest cost derived by high volume of debt may take away precious resources from people in low-income countries like Nigeria.
“Why I worry so much about debt in low-income countries, because what it means is that if it is not proper managed, interest rates, often high, takes away precious resources from education and health and infrastructure investments,” she said.
The IMF and World Bank are both worried that lack of transparency could make the debt risk a bigger problem in the world.
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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