Economy
Coldhubs Wins FCMB Agrictech EPIC Pitch 2020
By Adedapo Adesanya
ColdHubs has emerged winner of this year’s edition of FCMB Agritech EPIC Pitch 2020 competition, receiving N1 million in prize money as well as access to workspace and networks for innovation and collaboration.
Business Post had reported in July that the third edition of the programme would see the bank in close partnership with Passion Incubator grant funding of N1.5 million to two tech start-ups in the agriculture sector to support their business growth.
Other benefits for winners include mentor support, workspace, and access to market and networks, while entrepreneurs will also have access to Passion Incubator’s resources, partner organisation support, and business development services.
The application phase saw close to 2,000 agritech startups from over 16 countries around the world filing in entries, with 10 startups named as semi-finalists. After two days of semi-final pitches, six of those companies – all from Nigeria – progressed to the final.
ColdHubs, which designs, installs, commissions and operates solar-powered walk-in cold rooms, was named overall winner, while AgroHive, an HR-tech startup that helps agribusinesses access a consistent supply of skilled agricultural staff, came second and won N500,000.
The other finalists were Farmz2U, which helps farmers access tailored agricultural expertise using data and market access via system integrations; Beat Drone, which uses drones for spraying, crop health assessment and farmland mapping.
Others include Tradebuza, which digitises commodities sourcing and trade for large agribusinesses who run out-grower schemes; and Farmspeak Technology, which manufactures IoT-powered that uses artificial intelligence (AI) to diagnose poultry diseases.
Speaking on this, Mrs Rolayo Akhigbe, divisional head of transaction banking at FCMB said, “We are passionate about supporting Nigeria’s tech ecosystem and this initiative is one of the ways through which we are building and accelerating the growth of the agri-tech startups in Nigeria, as well as the larger African continent.”
Due to the COVID-19 pandemic, the FCMB Agritech Epic Pitch 2020 was the first virtual edition of the initiative, however, it delivered the same value to participants, as demonstrated in previous editions.
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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