Economy
Don’t Fall For Investment Promising 20% Monthly Interest—Umeano
By Aduragbemi Omiyale
The Chief Economist of the Securities and Exchange Commission (SEC), Mr Okey Umeano, has advised investors not to fall for an investment promising to pay them 10 per cent or 20 per cent of the interest a month on the money they put into the business.
According to him, it is almost impossible to see any genuine investment that would give such a return on investment every month.
He said in an interview that SEC was making efforts to deal with Ponzi scheme operators and illegal fund managers, urging members of the public to assist the commission in bringing them to book by reporting them.
Mr Umeano disclosed that the new Investments and Securities Bill (ISB) has amended some of the provisions around Ponzi schemes, illegal fund managers, and certain unwholesome practices in the market to ensure that these practices no longer happen.
“This ISB is supposed to accommodate these new operators, these new instruments and new happenings in the market. The Act is now more up-to-date and in line with present happenings in Nigeria and at the global level.
“This Act also protects the investors more because we have made certain provisions in that Act that strengthens the SEC to ensure that they are better able to carry out their investor protection activities.
“Among other provisions, the bill prohibits the operation of Ponzi/pyramid schemes and other illegal investment schemes while prescribing a jail term of not less than 10 years for promoters of such schemes. This will strengthen the regulation of Ponzi schemes. We are going to go all out against the promoters of such Ponzi schemes,” he said.
He stressed that when a capital market product with mouthwatering interest is being advertised, especially, “When it is too good to be true, and it sounds too good to be true, it is probably not true.”
“There is a simple way to find out as the SEC website has a list of registered capital markets operators. Go to the SEC website, type in CMO search, and you will see a list of capital market operators that are registered and that are regulated.
“There is also another one that some of them started doing, the organization is registered, but they now create a side product that is not registered. We register both the organization and the products and check properly before parting with your hard-earned money.
“In the capital market, we do not allow capital market operators to promise fixed returns. Nobody knows what the market will give, and people will make some efforts, but nobody can for sure tell you I will make 10 per cent or 20 per cent every month for you.
“When people tell you if you bring in money, I will pay you this amount, but you have to bring in other people, you have to register other people, they are most likely to be using the money of those people to pay you, using your own to pay the person who brought you in, and that becomes the pyramid in Ponzi schemes work,” he stated.
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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