Economy
Elumelu Counsels Clinton, Trump On US-Africa Policy
By Modupe Gbadeyanka
Chairman of UBA Plc, Mr Tony Elumelu, has advised the two prominent candidates for the November 2016 presidential election in the US, Mrs Hillary Clinton and Mr Donald Trump that “some things do not need to change” when it comes to the US-Africa Policy.
Mr Elumelu gave this counsel while speaking in Delaware as the Keynote Speaker at the US Senator Chris Coons’ Opportunity Africa Conference 2016.
He said what the continent needs is “more US engagement in Africa through mutually beneficial trade and investment.”
“That is exactly what I, and 200 other US and African political and business leaders including President Obama and over 30 African Presidents, will be discussing next week at the US-Africa Business Forum in New York- how to strengthen mutually beneficial economic ties between the African and American peoples,” he said.
According to the successful businessman, “If we give our people the economic tools to thrive, living standards increase, the political challenges that Africa faces can be tackled and fundamental positive change can be assured.”
He called on the next US President to work in Shared Purpose with Africans on implementing innovative solutions to the complex but surmountable challenges in Africa.
Mr Elumelu also challenged the American electorate that “So when you meet, write, call and email your political candidates and representatives and the elected President in November, tell them that when it comes to Africa, you want ‘More. And by ‘More’, I mean more engagement, more positively impactful policies and more development and commercial investment in Africa.”
Mr Elumelu concluded that, “I am an unashamed optimist and I believe that working together, in shared purpose, which is what Africapitalism is about, we can help usher in economic transformation that will ensure Africa is a critical player in the 21stcentury global economy.”
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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