Economy
Brent Hits $70 as Iran Fires Missiles at US Embassy
By Adedapo Adesanya
Amid global tensions spurred by the spat between the United States and Iran, oil prices are expected to keep trading upward this week especially for Brent Crude. On Monday morning, the oil futures hit $70 per barrel.
As for the West Texas Intermediate (WTI), it traded to its highest point in seven months following the attack last week, hitting the $64 per barrel mark. This would be the first time since April 2019 that the future had reached that level.
Oil prices were already experiencing a good outlook before the news broke out that the United States President, Mr Donald Trump, ordered the assassination of Iranian general, Mr Qassem Soleimani, on Friday morning, increasing pre-existing tension and moved futures up by over 4 percent.
With the new week, further retaliation by the Iran government remains after carrying out attacks in Kenya and Iraq. However, Mr Trump has warned that if Iran retaliates, the US will not hesitate to launch attacks at 52 strategic positions held dearly by Iran.
Crude oil last traded briefly above $70 per barrel in September after attacks which the US blamed on Iran temporarily knocked out half of Saudi Arabia’s oil production, which accounts for at least 5 percent of global production quota.
With the death of General Soleimani, who was the head of the Iranian Revolutionary Guards’ overseas forces and controlled the regime’s extensive influence across Lebanon, Iraq, Syria and Yemen, the US state department warned on Sunday of an increased risk of attacks on oil facilities and other targets in Saudi Arabia, as a statement by Iran.
Oil analysts noted that certain course of actions that may further cause a rise in prices include decisions to attack Saudi oil facilities as it did in September, or attempting to block the Strait of Hormuz, through which 20 percent of global oil supply is transported.
But there is a possibility that the market may fall if Iran does not react immediately as traders at this point may no longer wait for a reaction and trade off the commodity.
Hours after the US drone strike on Friday, Iran responded by firing missiles near US Embassy in Iraq. The embassy was initially attacked by pro-Iran protesters and the late military chief was blamed by Mr Trump for this.
The news of the US-China trade deal is also a factor that can support prices this week as the date agreed to sign the phase one of the deal push closer, especially with new developments China’s trade delegation led by Vice Premier, Liu He plans to travel to Washington for four days from January 13 for the signing of the phase one deal that would ease the 18 months trade war between the world’s two largest economies.
With these major pointers this new week also backed by oil cuts from the Organisation of the Petroleum Exporting Countries (OPEC) alliance, Brent Crude is expected to maintain a price higher than $68 while the WTI future is expected not to go below the $63 mark.
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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