Economy
FICAN Chairman Seeks Support for Befitting Secretariat
By Modupe Gbadeyanka
Chairman of the Finance Correspondents Association of Nigeria (FICAN) Abuja, Mr Simeon Ogoegbulem, has called for the support of partner organization to build its befitting secretariat.
Speaking recently at the 20th anniversary celebrations of FICAN held at Top Rank Hotel Galaxy in Abuja, Mr Ogoegbulem pointed out that the support was imperative to achieve the objective.
He said the association has been operating from the premises of the Central Bank of Nigeria in the last two decades, when the apex bank moved its headquarters to Abuja.
Giving a brief history of FICAN, the association boss explained that it was established in the second quarter of 1997 following the order of late General Sani Abacha to all ministries, departments and agencies to relocate to Abuja.
He said that the order led to the relocation of all regulatory agencies in the finance sector of the economy, including the CBN, Securities and Exchange Commission (SEC), Nigeria Deposit Insurance Corporation (NDIC) and the National Insurance Commission among others.
Also speaking at the event, Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, said his agency has recovered over N430 billion in different currencies from January through August 2017 from treasury looters.
Mr Magu, represented by the Head of Public Interface of the EFCC, Mr Tony Orilade, gave details of the recovery as N409,270,706,686.75; $69,501,156.67; £231,118.69; €610,816.20; Dirham 443,400.00 and 70,500.00 Saudi Riyal.
He added that a total of 137 convictions were secured by the anti-graft agency within the period under review.
He said the monies were illegally siphoned and which, undoubtedly would have gone a long way to improve the living conditions of Nigerians, adding that the recovered sum is kept in the Recovery Fund Account domiciled at the Central Bank of Nigeria.
“To put it bluntly, the single major problem militating against our national development is corruption, most crimes against humanity are perpetrated using proceeds of corruption, monies obtained through illegal activities, illicit cash flows and money laundering,” he said.
Mr Magu noted that corruption is no doubt at the heart of why a media house will owe its teeming staff members their salaries, despite their toil day and night to ensure that the publication does not miss the light of day, adding that even corruption is also the reason why our roads have become death traps, apart from the fact that our hospitals have remained in deplorable states and Nigeria has become a leading African country “exporting” medical personnel to developed countries.
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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