Economy
Dangote Gives N500m to Kano Traders
By Dipo Olowookere
Months after a fire razed down a market in Kano State, renowned business mogul, Mr Aliko Dangote, has given the sum of N500 million to traders at the market.
When the incident happened few months ago, the businessman, through his Aliko Dangote Foundation, promised to donate N500 million to victims.
Redeeming this pledge, Mr Dangote said the gesture was to bring succour to over a thousand hitherto dejected traders affected by the Kano Market fire disasters.
He noted that the donation was in response to the appeal by the Kano state government for contributions from public spirited individuals and corporate organizations to help the fire victims come back to business.
No fewer than seven fire disasters have occurred in five major markets across the state within the past few months with no fewer than 1,400 shops and goods estimated at N28 billion gutted by the inferno.
It would be recalled that the state government had in the wake of the last disaster in February, which affected Singa market, set up a judicial commission of enquiry and an appeal committee headed by Mr Dangote and another businessman, Mr Usman Tofa, both indigenes of Kano to help raise funds to help the fire victims, most of whom lost everything they sell to the disaster.
Mr Dangote, after the inauguration of his committee pledged N500 million and assured the traders that his committee would work assiduously to garner funds to ameliorate the suffering of the traders.
Presenting the N500 million cheque on Monday afternoon in Kano, the CEO of Aliko Dangote Foundation, Mrs Zouera Youssoufou, explained that Africa’s richest man was deeply touched by the plight of the affected traders and that is why he has ensured that the money is available.
Re-echoing what Mr Dangote said earlier on his involvement in the provision of succour to the traders, Mrs Youssoufou stated that the Chairman of Dangote Group would also see other areas he would collaborate with the state to bring relief to the traders as quickly as possible.
She stated that Dangote Foundation has been identifying with various projects in the state and that the donation is just one of the many interventions of the Foundation in Kano state.
In his address of welcome at the ceremony, the State Commissioner for Commerce, Industry, Cooperative and Tourism, Mr Hammed Rabiu, commended Mr Dangote for the good gesture and said the state would be eternally grateful for the many helps he has rendered to the state in times of need.
“As you can see, with this physical donation, Alhaji Dangote did not just talk by promising assistance, he is walking the talk”, he stated.
Speaking on the donation, Governor Abdulahi Umar Ganduje, while thanking Mr Dangote for always rising to the occasion anytime the state calls, urged other Kano sons and daughters to emulate him and contribute to the growth of the state.
He said that the state government had also donated N500 million to the victims pointing out that a judicial commission was set up to probe the fire incidents and make recommendation and had since turned in its report which has been guiding the state in taking certain decisions to forestall future occurrence.
As part of the implementation of the recommendation of the Commission, Mr Ganduje stated that the government had commenced structural designs and road projects at Kantin Kwari market.
Also he disclosed that lock-up shops have been built for the traders as opposed to the former wooding stalls which are very combustible in the event of fire outbreak.
The Governor assured that every trader that suffered loss would be compensated as the Commission had already accessed the extent of damages and the actual loss suffered by each trader.
With the new development and strategy being out in place, Governor Ganduje said he hoped that the outbreak of fire in Kano markets will stop.
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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