Economy
EFCC Goes After Stockbroker Over Investors’ N26.9m
By Aduragbemi Omiyale
A stockbroker, Mr Ahmad Abdullahi, who used to be with a brokerage company in Kaduna State, Atlas Portfolio Limited, is in court explaining what he did with investors’ funds worth N26.9 million he was meant to use to purchase shares for them.
He was dragged before Justice M.T.M Tukur of the Kaduna State High Court a few days ago by the Economic and Financial Crimes Commission (EFCC) on charges bordering on criminal breach of trust, a statement from the agency said.
The accused person was said to have committed the alleged offence when he was with the brokerage firm and according to the EFCC, he diverted to persona use N26,880,000 paid into the account for the acquisition of shares by a group of 39 customers, including a certain Hassan Usman.
“That you, Ahmad Abdullahi (m) sometime in 2019 in Kaduna, Kaduna State within the jurisdiction of the court, being a servant in the employment of Atlas Portfolio Ltd, and such capacity entrusted with a certain property, to wit: the sum of N900,000 only given to you by one Jabir Abdullahi Muhammad, committed criminal breach of trust in respect of the said property, and you thereby committed an offence contrary to and punishable under Section 299 of the Kaduna State Penal Code Law, 2017.
“That you, Ahmad Abdullahi (m) sometime in 2020 in Kaduna, Kaduna State within the jurisdiction of the court, being a servant in the employment of Atlas Portfolio Ltd and in such capacity entrusted with a certain property, to wit: the sum of N1,100,000 given to you by one Jabir Abdullahi Muhammad, committed criminal breach of trust in respect of the said property, and thereby committed an offence contrary to and punishable under Section 299 of the Kaduna State Penal Code Law, 2017,” two of the charges read.
However, the suspect pleaded not guilty to the charges when they were read to him and upon his plea, the prosecution counsel M. E Eimonye asked the court to fix a date for trial and that the defendant be remanded in a custodial centre.
But the defence counsel, Sule Shuaibu, applied orally for the bail of his client, which was granted by Justice Tukur in the sum of N15 million and one surety in like sum.
The judge held that the surety must be either a serving civil servant on Grade Level 16 or above in either the state or federal civil service or a principal staff of a prominent company on the same level or grade, while the case was adjourned till November 18, 2021, for trial.
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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