Economy
FG Determined to Reduce Revenue Leakages—Finance Minister
By Aduragbemi Omiyale
Nigeria’s Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said the main focus of the federal government is reducing revenue leakages so as to have enough funds to carry out critical projects for the benefit of the citizens.
The Finance Minister said this at the Ministry of Finance Incorporated (MOFI) Stakeholders Sensitization Workshop held in Abuja recently.
MOFI was established as a custodian entity for the federal governments’ investments in various business enterprises across different sectors of the economy in Nigeria and abroad.
Mrs Ahmed said apart from blocking leakages, the government of President Muhammadu Buhari is determined to attract more investments into the country through Strategic Revenue Growth Initiatives (SRGI).
“As part of the Reform, Restructure and Reposition (R3) component of the #SRGI, a number of government institutions were selected for reform with #MOFI approved by President Muhammadu Buhari as one of them,” she said.
The Minister appreciated the enthusiasm and contributions of the various attendees which included members of the restructuring committee, heads of agencies, private sector representatives and representations from other Ministries, Departments and Agencies such as the Bureau of Public Enterprises (BPE), Presidential Initiative on Continuous Audit (PICA) and Ministries of Justice amongst others.
In his presentation, the Permanent Secretary Finance and Chairman of the Ministerial Committee on the restructuring of MOFI, Mr Aliyu Ahmed, explained that “since the establishment of MOFI under the MOFI Act of 1959, the MOFI Act has not been reviewed, updated or amended.”
Also, the MOFI Project Management Office Team Lead, Dr Armstrong Ume Takang, at the gathering, presented the findings and recommendations by the Restructuring Committee to all stakeholders.
It is worthy of note that there are over 60 companies left in the MOFI portfolio of FGN owned investments.
Since the establishment of the Bureau for Public Enterprises (BPE) many of the original MOFI companies were privatized. The proposed restructure and repositioning will allow for MOFI to transform into a world-class company, create and collate a national asset register, and ensure assets and investments are better managed, with a mission to maximize value for all stakeholders and Nigerians.
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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