Economy
Akeredolu-Ale Says ISB Will Improve Nigeria’s FX Earnings
By Aduragbemi Omiyale
The Managing Director of the Lagos Commodities and Futures Exchange (LCFE), Mr Akin Akeredolu-Ale, has described the Investments and Securities Bill (ISB) passed by the House of Representatives last year as a game changer, pointing out that it would help Nigeria improve its foreign exchange (forex) earnings.
Nigeria’s FX earnings from crude oil sales have dwindled in recent times due to low production caused by theft, putting pressure on the Naira in the currency market.
But the LCFE chief believes the new bill would change the narrative, as it would enable the commodities trading ecosystem to thrive, thereby diversifying the nation’s economy.
He stated that Nigeria is a commodities country as a better part of the gross domestic product (GDP) by way of production comes from the commodities ecosystem and urged the Senate to ensure swift concurrence on the Bill.
“We need that concurrence by the Senate as quickly as possible. I am very happy that the NASS has taken it upon themselves, as well as the SEC, to push this bill. That bill is a game changer for the commodities ecosystem and also a game changer for Nigeria as a commodities country.
“For now, a lot of commodities being traded are still in the informal sector, the bill would create structure, and all the leakages from taxation and revenue will be taken care of by this bill.
“The major thing about the commodities ecosystem is the fact that we are looking inwards in Nigeria now.
“A lot of the impact of the policies that the Central Bank of Nigeria (CBN) had done last year by way of supporting the agriculture space is paying off now in the maize, wheat and rice space, among others.
“For us at the LFCE, we have also looked at the part of commodities that has to do with solid minerals, which is the gold space.
“In Nigeria, we have over 58 different solid minerals that are sought for all over the world, and we have not touched platinum or lithium, which is the major component for batteries and electric cars.
“These are the kinds of commodities that, by the time the bill is passed, we would be able to have a proper structure and attract foreign investors.
“What do these foreign investors look out for? The foreign investors look at regulatory framework, legal framework and a proper enabling environment to want to participate in the market,” he commented.
Mr Akeredolu-Ale disclosed that in a bid to deepen the commodities trading ecosystem in Nigeria further, the Securities and Exchange Commission (SEC) had approved 13 products for trading on the LCFE.
He stated that the exchange has the capacity to trade electronic receipts of oil and gas, agriculture, solid minerals, derivatives and currencies, adding that the exchange has also put in place the necessary infrastructure to trade in derivatives as hedging instruments for investors.
“On July 28, 2022, we launched the Gold Coin. The good thing about the Gold coin is that the gold that was used in its preparation was sourced from Nigeria, and a lot of it came from Ilesha. It is being traded, and people have realised that this is a very good hedging instrument; this goes to show the capacity of what we can do in Nigeria if this bill is passed,” he remarked.
“The goal of LCFE is to play a pivotal role in growing the nation’s GDP into double digits. In Africa, the commodities ecosystem is the largest employer of labour. It provides a platform to deploy resources into the fungible assets that have been de-risked. We bring transparency through the operations of commodities exchange through our structures and two-way quote,” he added.
The LCFE chief, therefore, restated the compelling need for the federal government to unlock the potentials of the Nigerian commodity ecosystem through the concurrence of the ISB by the Senate, stating that, at the minimum, it will enhance the competitiveness of commodities exchanges in Nigeria.
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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