Economy
AfDB Okays €1.9m for African Water Facility Budget
By Dipo Olowookere
The Board of Directors of the African Development Bank Group (AfDB) has approved €1.925 million for the administrative budget of African Water Facility (AWF) out of the Special Water Fund for 2017 activities.
A statement issued by the African lender said the board also okayed the 2016 annual report and 2017 work plan and budget of the AWF.
It was disclosed that the €1.925 million approved by the board of the AfDB will contribute to meeting the challenges of the activities in 2017, including: Resource mobilization; Operations; Strategic review; Documenting and disseminating results and knowledge emanating from AWF operations.
The activities also comprise, Human resources; Enhancing communications, visibility and outreach through greater use of social media tools, and participation in key international water events.
The AWF will also continue to fully engage with AMCOW and other development partners to better coordinate and harmonise its activities.
Board members also underscored progress made by the AWF in spite of the funding challenges, urging other facilities facing similar contests to learn from it.
The annual report provides an account of activities undertaken and results achieved by the facility for the year under review.
The reporting is made against the priorities established in the AWF Strategic Plan 2012-2016 and its Results-Based Logical Framework (RBLF).
At its annual meeting in December 2016 in Abidjan, the AWF Governing Council approved the long-term strategy 2017 to 2025. But the Facility continues to face human resources and core funding challenges.
Also, the level of funding in the Water Fund has now reached critical levels, with the AWF unable to ensure continuity of operations beyond 2017.
However, there is light at the end of the tunnel with pledged funding from Canada and ongoing discussions with Austria, NDF and BMGF to replenish their funding to the AWF Special Fund.
The Vice-President in charge of agriculture, human & social development, Jennifer Blanke, remarked that AWF has achieved a great work in preparing to finance projects and increasing the delivery capacity of implementing agencies in member countries.
“The AWF has the framework to increase our delivery capacity in water related operations beyond what we are doing currently. We will need the Bank’s continued financial support to make this leap in the AWF operations,” she said.
For his part, the Bank Group Senior Vice-President, Charles Boamah who chaired the Board meeting expressed support for the idea of cost recovery mechanism being introduced in AWF’s new strategy and recommended closer collaboration with African Legal Resource Facility which has made some progress on the same issue.
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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