Economy
FG Wields Big Stick on 313 Mining Firms
By Modupe Gbadeyanka
Federal Government has sanctions about 313 mining companies in Nigeria for not fulfilling environmental obligations.
Disclosing this on Tuesday in Abuja, the Director of Mines Environmental Compliance Department in the Ministry of Mines and Steel Development, Mr Salim Salaam, said the mining operators were issued sanction letters on March 20 for failing to conduct Environmental Impact Assessment, Environmental Protection and Rehabilitation Programme and the Community Development Agreement.
He said four of the mining companies affected were given ‘stop work’ order, adding that the ministry had warned them severally but they refused to comply with the environmental obligations.
He said that five companies’ licenses were out rightly revoked over total failure to comply with the ministry’s environmental obligations in spite of incessant notices issued by the ministry.
“One out of the five companies is a foreign mining company located in Bauchi, three in Cross River and One in Oyo state all their licenses have been revoked completely,” Mr Salaam told the News Agency of Nigeria (NAN).
He said however that 20 mining companies were issued warning letters as consideration to comply with the mining act to avoid revocation.
He said that the ministry had decided not to renew licences of the remaining 284 mining companies, except the Minister, Dr Kayode Fayemi, gives them another chance to fulfil all environmental requirements.
He said that some of the defaulters did not conduct Environmental Impact Assessment before commencing operations, adding that this could be dangerous to the host communities’ health and cause environmental degradations.
EIA is a study being conducted by mining operators to ascertain in advance the impact of the project on the environment and on the lives of the host communities.
He also explained that some conducted EIA but refused to fulfil the CDA of the host communities and the EPRP.
Mr Salaam said, “Mining operators are mandated to conduct EPRP, according to Section 119 of the Nigerian Mining Act.
“The CDA is also mandatory under Section 116 of the act for mining operators to sign an agreement with host communities on what to do to improve their livelihoods.
“The idea of conducting EIA is to proffer mitigation measures against mining impacts before commencing operation.”
Salaam said that the problems in the Niger Delta were as a result of CDA, as the communities were complaining that oil companies were conducting exploration and extraction but refused to meet their needs.
He said the CDA was provided as a measure in the mining act for mining operators to fulfil their obligations socially and economically to their host communities to avoid problems.
Mr Salaam said that the ministry sanctioned no fewer than 20 mining companies over non-compliance with its laws and regulations.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn