Economy
DSS Arrests Sellers of New Naira Notes
By Modupe Gbadeyanka
Some persons involved in the sale of the newly redesigned Naira notes have been arrested by officials of the Department of State Services (DSS).
A statement issued on Monday by the spokesman of the country’s secret police, Mr Peter Afunanya, disclosed that some commercial bank officials were also involved in the crime described as economic sabotage.
Last year, the Central Bank of Nigeria (CBN) redesigned the N200, N500, and N1,000 denominations and gave January 31, 2023, as the deadline for the use of the old currency notes in Nigeria before extending the deadline yesterday to February 10, 2023.
The extension followed pressure from various quarters, including politicians and Nigerians, who complained bitterly of the scarcity of the new notes.
It was alleged that the redesigned banknotes were being sold to politicians and currency traders, who sell them at parties.
Worried by this development, the DSS swung into action and apprehended a syndicate accused of selling the new Naira notes.
In the statement, the DSS said it has ordered its men and officers to fish out people and groups involved in the “illegal sale of the notes” as it was determined to “expeditiously address the emerging trend.”
It warned those selling the banknotes to desist from such acts, appealing to members of the public “with useful information relating to this to pass the same to the relevant authorities.”
“The Department of State Services hereby informs the public that it has intercepted some members of organised syndicates involved in the sale of the newly redesigned naira notes.
“In the course of its operations, in this regard in parts of the country, it was also established that some commercial bank officials are aiding the economic malfeasance.
“Consequently, the Service warns the currency racketeers to desist from this ignoble act.
“Appropriate regulatory authorities are, in this same vein, urged to step up monitoring and supervisory activities to address the emerging trend expeditiously.
“It should be noted that the Service has ordered its Commands and Formations to ensure further that all persons and groups engaged in the illegal sale of the notes are identified.
“Therefore, anyone with useful information relating to this is encouraged to pass the same to the relevant authorities,” the statement from the agency today said.
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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