Economy
Incoming CEO Pledges to Sustain Growth at Seplat
By Tenebe Anthonia
The incoming CEO of Seplat Petroleum Development Company Plc, Mr Roger Brown, has promised to build on the achievements of the current occupier of the position, Mr Austin Avuru.
Mr Brown gave this assurance on Monday when he was introduced to the Nigerian Stock Exchange (NSE) by the present team.
The energy company was at the exchange yesterday to mark its 10 years of its existence including the landmark dual listing of the company on both the Nigerian and London Stock Exchanges about six years ago.
The firm was also given the honour to close the market on Monday with the closing gong.
Speaking on the occasion, Mr Brown said, “I must thank NSE and recognise the crucial support we have received from the local bourse and our investors without whom none of our achievements would be possible.
“I am humbled and extremely proud to be trusted by the Board and Investors to lead Seplat Plc, especially in these challenging times.
“Mr Avuru is handing over a company that is in great condition and I am looking forward to running with the same energy as you supported by a great leadership team and an extremely strong group of employees.”
During his speech, Mr Avuru stated that, “It has been a great pleasure to maintain a relationship with NSE over the past six years.
“The relationship has been mutually beneficial and Seplat Plc is quite pleased to have been instrumental in enhancing the relationship between the NSE and the London Stock Exchange.
“It has been a great journey leading the company over the last ten years and it is an even greater pleasure to introduce Mr Roger Brown who led the efforts on the dual listing, has been instrumental in many over our achievements since he joined the firm seven years ago and is guaranteed to take the firm to greater heights.”
He further expressed the company’s delight over the invitation to once again sound the closing gong of the exchange, saying, “It is a great privilege and pleasure to be here as Seplat Plc celebrates another milestone.
“Six years ago, we were on the trading floor of The Exchange to commemorate our landmark listing and since then, we have risen to become a premium listed company on the NSE platform.
“I must, therefore thank NSE for the support and all the investors and partners who have traded our stock making it possible for us to be where are today.”
In his remarks, the CEO of NSE, Mr Oscar Onyema, stated, “I congratulate the board, management and staff of Seplat on the 10th year anniversary celebration.
“I must also applaud Mr Avuru on his many accomplishments over the years and likewise congratulate Mr. Roger Brown on his appointment as the Chief Executive Officer effective August 1, 2020.
“As Mr Brown takes the reins, we would like to assure the leadership of Seplat Plc that NSE is committed to helping issuers derive great value from their interaction with the market, and we will remain your trusted business partner in achieving your strategic business objectives.”
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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