Economy
DMO to Investigate N1.08bn Corruption Scandal
By Adedapo Adesanya
The Debt Management Office (DMO) has said it will thoroughly investigate the sources of some documents which a recent widespread report by a national daily based its report on.
According to the agency, the report, titled Alleged N1.08 billion corruption scandal hits DMO, looks sponsored and out to tarnish its reputation.
The DMO in a statement released on Sunday said it would involve security agencies in line with laid down civil service regulations and with the intent to bring the perpetrators to book.
“Public Service Rules No. 030401 and 030402 which prescribes dismissal for unauthorized disclosure of official information as a serious act of misconduct.
“The DMO hereby states unequivocally that the story is false, full of lies and the documents referred to in the report have been twisted and distorted with the intention to misinform the general public and discredit the institution.
“The Vanguard story is not a true representation of the dealings in the DMO.
“It should be noted that the DMO is an accountable, transparent and responsible organisation that works in accordance with laid down civil service procedures and it is highly regarded by multilateral agencies and financial institutions as a reputable government agency.
“The sponsors of the story are disgruntled elements who have not only breached the civil service rules but have also contravened laid down procedures for dealing with official matters.
“These officials have resorted to illegally leaking official documents due to their recent redeployment [and] have colluded with other disgruntled persons who have failed in their attempts to control the running of the affairs of the DMO, which has blocked their ability to pilfer public funds,” the DMO said in the statement.
It added that the story referred to documents that, on their own, are incomplete and do not reflect the whole story or the purpose of any transaction.
“The claims that events and travels by officials of the DMO either did not take place or did not hold are false and an attempt to discredit the impeccable records of the organization. These speak to their desperation to give the institution a bad name.
“It is unfortunate that a reputable news medium such as Vanguard would lower its guard by allowing its platform to be used to promote falsehood by disgruntled and fraudulent elements in the DMO without cross-checking with the management of the organization,” the statement noted.
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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