Economy
CBN Attributes Nigeria’s Economic Recovery to Ban on 41 Items
By Modupe Gbadeyanka
Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has said the decision by federal government to restrict the importation of 41 items has led to the recovery of the nation’s economy from recession it slipped into in the second quarter of 2016.
Speaking at the recently held 53rd annual bankers’ dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN), the CBN chief said if not, the recovery may have been weaker.
“Based on our internal research conducted by the Central Bank of Nigeria, there is strong evidence that the recovery from recession may have been much weaker, even negative without the implementation of the restriction on the 41 items,” Mr Emefiele said.
He therefore, warned companies conniving with unscrupulous individuals to contravene the apex bank’s 41 items forex restriction to immediately desist, emphasising that refusal to heed this warning would necessitate repercussions.
He said further that one of the punishments for defaulters will come in the form of restrictions placed on their accounts with the CBN, revealing that the central bank was working in partnership with the Economic and Financial Crimes Commission (EFCC) to commensurately punish defaulters.
“The CBN’s economic intelligence and banking supervision department will work very close with the EFCC to expose and sanction any bank or company whose directors or FX operator colluded with unscrupulous individuals or companies to undermine the policy on 41 items.
“Such sanction will include but not limited to prohibiting the banks from maintaining bank account for such institution or person in Nigeria,” the CBN Governor said.
The 41 items banned by the CBN range from consumer goods like rice to industrial goods like cement. As we analysed back in 2015 when the restrictions were imposed, the decision was part of CBN’s desperate measures to control Nigerians’ demand for hard currency dollar at a time when recession was hitting hard and the economy was struggling.
Mr Emefiele believes this measure has yielded results by encouraging local production and stimulating economic growth; hence the need to sustain it.
He further reiterated the CBN’s commitment towards ensuring that local production of goods and services are intensified in the country.
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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