Economy
FG Tasks Importers on Automated Duty Waivers
By Adedapo Adesanya
The Federal Ministry of Finance, Budget and National Planning, as well as the Nigeria Customs Service, have urged importers to take advantage of the automated Import Duty Exemption Certificate (IDEC).
The Minister of Finance, Mr Zainab Ahmed, said this on Thursday during a sensitisation seminar in Port Harcourt, the Rivers State capital.
The Finance Minister said the new automated platform will reduce the amount of time spent on processing import duty exemption request, promote transparency and eliminate undue human interference, as well as other challenges associated with the manual process.
Represented by the Permanent Secretary at the Ministry of Finance, Budget and National Planning, Mrs Titilola Kuna, the Minister noted that with the scope of the request for import duty waiver expanding, there is no better time than now to have modern technology to drive import duty concession.
The Comptroller-General of Customs, Mr Hameed Ali, who was represented by the Zonal Coordinator in charge of Zone C, Mr Elton Irele, said the new platform will eradicate abuse of import duty exemption and forgery of signature by fraudulent persons in the import business.
Mr Ali said despite the commitment of the federal government to achieving a more viable economy, some importers have abused the opportunities created for them to thrive, through import duty exemption.
Mr Ali assured that the Nigeria Customs Service will ensure the success of the new digitised platform.
The IDEC platform, which is simply accessible at www.idec.gov.ng or www.idec.ng, was designed to eliminate the challenges associated with applying for an IDEC which usually takes between 30 – 60 days but is now obtainable within just three days.
It has a solid electronic document management system that manages all documents verifications, thereby reducing the processing time to obtaining an IDEC approval.
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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