Economy
FG Creates Team for Smooth Transactions at South-South Ports
By Adedapo Adesanya
A cache of agencies, including the Independent Corrupt Practices and Other Related Offence Commission (ICPC), the Nigerian Shippers’ Council (NSC), Nigerian Ports Authority (NPA), and other ports agencies, as part of the ongoing collaboration to ensure the full implementation of the Nigerian Ports Process Manual (NPPM), has inaugurated a Port Standing Task Team in the South-South Ports of Port Harcourt and Onne.
The team, made up of officers of ICPC, NSC, NPA and the Directorate of State Services (DSS), was charged with the primary duty of ensuring that standard procedures are followed in carrying out transactions at the ports.
The team is to strictly carry out necessary anti-corruption activities that would help dismantle the corruption network fuelling the traffic logjam within the port area.
It is also to carry out regular operations in the ports to generate evidence-based infractions against the Standard Operating Procedures (SOPs), the Nigerian Port Process Manual (NPPM) and the Ease of Doing Business policy of the Federal Government.
The Port Standing Task Team is to engage in quick enforcement actions including sting operations, on identified areas based on regular intelligence.
Speaking on this, Mr Hassan Mohammed, ICPC Head of Investigation, who represented the Chairman, charged the team to be diligent in carrying out their duties stating that the team’s activities are geared towards the need to reduce corruption in Nigeria.
Also speaking at the event, the Zonal Director, South-South of the Nigerian Shippers’ Council (NSC) Mr Ogor Israel observed that the basic aim of setting up the Task Team was to ensure efficiency and make Nigerian ports one of the best places to do business.
He predicted that very soon, insecurity at the ports, especially Eastern Ports, will become a thing of the past and of course business will start booming in the zone.
Mr Moses Fadipe who represented the Executive Secretary/CEO of Nigeria Shippers’ Council made a presentation on the overview of the Nigerian Ports Process Manual (NPPM) and Port Service Support Portal (PSSP).
He highlighted the essence of the Ports Manual and its importance to reducing corruption in the maritime sector and enjoined all stakeholders to cooperate with the team in curbing unethical behaviours at the Ports.
The Acting Managing Director of NPA, Mr Mohammed Bello Koko in his goodwill message said the NPPM is fully funded by the NPA as part of its contribution towards creating a transparent and efficient port system that aligns with the concept of the Presidential Order on Ease of Doing Bussing in the Nigerian Port Sector.
Other stakeholders such as terminal operators and cargo owners spoke at the inauguration promising to support the team with information and reports of any observed infractions.
The highlight of the event was the inauguration of the team that comprised 3 officials of the ICPC, 5 personnel from the DSS, 3 staff of NSC and 2 staff of the NPA.
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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