Economy
CBN has Abandoned Solid Minerals Sector—Minister
By Adedapo Adesanya
The Minister of State for Mines and Steel Development, Mr Uche Ogah, has accused the Central Bank of Nigeria (CBN) of neglecting the country’s mines and solid minerals sector.
He claimed that the nation’s apex bank seems to have abandoned the sector because it not believe in the industry despite the many potentials it could bring as Nigeria shifts its focus away from oil.
Mr Ogah blew hot while speaking at a two-day public hearing organised by the Senate Committee on Solid Minerals, Mines, Steel Development and Metallurgy.
He said: “It is unfortunate that the Central Bank of Nigeria (CBN) did not believe in us.
“If they believe in us, if they support us the way they are supporting agriculture, we will do wonders for this country.
“This is one ministry that is untapped, that is unknown but that can change the landscape of our revenue.”
The public hearing was designed to get the inputs of stakeholders on the preparations of four bills and for an investigative motion for the solid minerals sector.
The bills are the Nigerian Minerals Development Corporation Establishment Bill 2021 and Solid Minerals Producing Areas Development Commission Establishment Bill 2021.
The others are the Institute of Bitumen Management Establishment Bill 2021, Explosive Act 1964 Repeal and Re-enactment Bill 2021 and the urgent need to investigate the loss of 9 billion dollars annually, due to illegal mining and smuggling of gold.
Mr Ogah then used the opportunity to call for support in all areas for the development of the sector, explaining there was a need to support research for the growth of the sector.
“Equally, we need to ask the Ministry of Finance to speed up the export policy on solid minerals because that is the only way to have operators into the sector,” the Minister stated.
In the same breath, he urged citizens to be involved in checking the activities of intruders in the mining sub-sector.
According to him, the federal government had gone ahead to establish processing plants for the solid minerals sector, which is currently under construction in all the six geopolitical zones.
“We are going to have processing plants for gold, bauxite, among others, to establish the downstream sector of the mines and steel development and to ensure that there is processing in the sector,” he said.
Clarifying the bill for the establishment of the Nigerian Mineral Development Commission (NMDC), the minister said he would want an enlargement of the minerals listed there.
“Let us not limit ourselves to only seven minerals because we have other minerals that are needed for the industrial revolution.
“We must look at how to fast track development of these mineral resources, and so we must look at the relationship between the ministry and the state governments.
“States must be ready to be involved in driving the production of mineral resources, not just talking about the resources been cited in the states.
“States should work toward getting institutions to help drive the development of solid minerals resources in their states”, he said.
He then challenged the senate to wade into issues between the mineral act and the land use act, as it was an issue between the ministry and the states.
“We need to harmonise all the issues, so we could have a clear direction for the growth of the sector,” he said.
The Minister said the bills, when passed, would strengthen the sector.
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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