Economy
Adeosun Begs NASS to Cut CBN Governor’s Powers
By Dipo Olowookere
The National Assembly has been urged to reduce the powers of the Central Bank of Nigeria (CBN) Governor.
Minister of Finance, Mrs Kemi Adeosun, made this appeal on Tuesday, when members of the House of Representatives Tactical Committee on Recession led by Mr Bode Ayorinde, paid her a visit at her office in Abuja.
Mrs Adeosun said at the moment, the CBN boss has excessive powers that give him the opportunity not to consult with the Finance Ministry before coming up with monetary and fiscal policies
She said it amounted to what she described as excesses on the part of the apex bank’s Governor to decide and act on financial matters without recourse to the Minister of Finance, who is constitutionally required to supervise financial policies, programmes and activities of the Federal Government.
“I want to correct the impression that the CBN is under us. They are not. Unfortunately, a law was passed, making them independent and giving them more powers. This has resulted in one person having so much power.
“In the time of Prof. Charles Soludo as CBN Governor, he went to the National Assembly asking for more powers and you can see where that has taken us to. So we are back to the legislature to help us correct this problem of too much power. As a result, there are no checks and balances,” Mrs Adeosun informed her guests.
According to the Minister, under the administration of former President Goodluck Jonathan, the then CBN Governor ordered the sacking and trial of bank chiefs and introduced monetary policies to regulate certain activities in the financial sector.
Reacting to the issue raised by the Minister, an industry analyst, the Director-General of West African Institute for Financial and Economic Management, Prof. Akpan Ekpo, such an idea should be thrown out immediately, as it was outdated and out of sync with modern global trends.
“I have no details, but if this is actually what she said, it is not acceptable. The Central Bank should remain independent and not be brought under the Ministry of Finance. Nigeria is too large and not equipped for that arrangement. The CBN should not be seen as a subset of the ministry,” he said.
Also, erstwhile banker and financial expert, Mr Fola Adeola, reinforcing the CBN’s autonomy as a global practice, said the relationship between the ministry and CBN should be the coordination of monetary and fiscal policies.
“While I do not know exactly what she said and meant, but if the move is to reduce CBN’s powers, it may be tantamount to an infringement on its autonomy. On the other, if the matters in question are anything other than monetary policy issues, she may have a case to make,” he said.
Deputy Managing Director of financial services advisory firm, Afrinvest Limited, Mr Victor Ndukauba, is more concerned about how the adverse impact it would have on the larger economy by subjecting the CBN to the ministry’s supervision.
“Ideally, the Central Bank should have only one function and that is monetary, controlling inflation. To say that the Governor and the Central Bank should be under the control of the Executive would mean that any decision that is made by the CBN will be subjected to political influence.
“So, the place of the Central Bank is sacrosanct. In fact, if we are to take any step in removing or rolling back that independence, it would not augur well for us,” he said.
In view of the challenges the principal parties may face in achieving set goals under the current economic crisis, Mr Udukauba called for a synergy between the two, in order to realise common goals of stemming galloping inflation, cutting high unemployment rate and buoying economic activities.
Meanwhile, none of the CBN Governors – including the incumbent, Mr Godwin Emefiele, and former ones, Mr Sanusi Lamido Sanusi, and Mr Charles Soludo, picked their calls or responded to text messages from The Guardian to them.
Mr Soludo, whom Mrs Adeosun identified as the chief protagonist of the current impasse, in a text message response, merely said: “Sorry, I am abroad and can only be reached via text please.”
Additional information from The Guardian.
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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