Economy
FG Launches Intelligence System to Track Tax Evaders
By Adedapo Adesanya
The Federal Inland Revenue Service (FIRS) has launched a National Intelligence Gathering System in collaboration with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which will primarily gather data and track tax evaders and defaulters across the country.
This was disclosed in a statement issued by FIRS’s Director for Communications and Liaison Department, Mr Abdullahi Ismaila, who said the Executive Chairman of the tax agency, Mr Muhammad Nami, was recently at the Abuja office of the ICPC on an inter-agency collaborative visit.
Mr Nami, when received by the ICPC Chairman, Mr Bolaji Owansanoye, explained that the new system would help to track tax evaders with a view to bringing them to book and make them pay their fair share of taxes to the country.
According to him, the intelligence gathering system will be Information and Communication Technology (ICT)-based and will be implemented in a collaborative effort with the ICPC and other anti-corruption agencies, adding that financial institutions will also play a key role.
He added that the system would help to tackle economy-based crimes, including money laundering.
“The ICPC is our critical stakeholder. We are improving our collaboration with the commission to track tax fraud and block all revenue leakages to ensure that we raise the revenue for the government to fund its budget.
“We need the data and intelligence which you have to help us track tax evaders and bring them into the tax net,” he stated.
He added that FIRS was also restructuring and revamping its system to enable it surpass its 2020 revenue target of N8.5 trillion from oil and non-oil taxes.
Speaking on the collaboration and new intelligence system, the ICPC boss, Mr Owasanoye, said the commission was open to the idea of sharing data with the FIRS in order to track tax evaders, defaulters and tackle illicit financial flow in Nigeria.
He said that doing this would enable the government to raise its revenue profile in order to fund development projects, added that the ICPC was doing its best to widen the tax net.
According to him, whenever a commission comes across any tax non-compliant company, such companies are referred to the FIRS,
“We want them to be captured in the tax net so that they continue to pay their taxes,” he added.
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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