Economy
Afreximbank, UBA Sign $150m Deal to Finance Trade-related Transactions
By Adedapo Adesanya
The African Export-Import Bank (Afreximbank) and the United Bank for Africa (UBA) Plc have signed a $150 million trade finance facility agreement under the Ukraine Crisis Adjustment Trade Financing Programme for Africa.
The funding will be utilised to finance trade and trade-related transactions in support of UBA clients to facilitate increased financing of trade businesses in various sectors of the Nigerian economy to mitigate the adverse effects of the Russia-Ukraine crisis.
Signed by Mr Denys Denya, Executive Vice President, Finance, Administration and Banking Services, Afreximbank, and Mr Oliver Alawuba, Managing Director of UBA PLC, the facility is expected to enhance confidence in the settlement of international trade transactions for strategic imports.
According to a statement, this is one of financing and other agreements valued in excess of one billion Dollars agreed upon between the Cairo-based bank and several leading business entities from across the continent at the ongoing third Intra-African Trade Fair (IATF2023) which started last week and will conclude on Wednesday, November 15.
Anambra state was also a beneficiary as Afreximbank signed a mandate letter to provide capital raise financial advisory services to the South East state for an estimated $200-million facility to support the development of three major projects in the state, covering the Ikenga Mixed-Use Industrial City Project, the Anambra Export Emporium and the Akwaihedi Unubi Uga Automotive Industrial Park.
The bank also signed an agreement to provide the state government with financial advisory services for the development of operational and governance framework for the Anambra Diaspora Fund, including capital raise financial advisory services for the Anambra Intra-City Rail Master Plan project and the Anambra Diaspora Fund.
Mr Kanayo Awani, Executive Vice President of Intra-African Trade Bank, signed for Afreximbank while Mr Mark Okoye, Chief Executive Officer of the Anambra State Investment Promotion and Protection Agency, signed for the state government.
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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