Economy
FIRS to Debit Bank Accounts of Tax Defaulters
By Modupe Gbadeyanka
Tax defaulters in Nigeria will have their bank accounts debited to clear their liabilities, the Federal Inland Revenue Service (FIRS) has said.
A statement issued by the tax agency on Wednesday disclosed that this is part of the efforts it was taking to recover the debts from defaulters.
Nigeria has been witnessing a significant revenue shortfall and the federal government has been doing everything possible to raise funds from several available sources to run the nation.
Recall that the Governor of Edo State, Mr Godwin Obaseki, said last month that the country was in a serious fiscal mess to the point that the Central Bank of Nigeria (CBN) was asked to print about N60 billion to augment the revenue shared monthly among the federal, state and local governments.
“When we got FAAC for March, the federal government printed additional N50 to N60 billion to top-up for us to share.
“This April, we will go to Abuja and share. By the end of this year, our total borrowing is going to be within N15 to N16 trillion.
“Imagine a family that is just borrowing without any means to pay back and nobody is looking at that, everybody is looking at 2023, everybody is blaming Mr President as if he is a magician,” Mr Obaseki has said at the Edo State transition committee stakeholders engagement.
But the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, who admitted that there was truly a shortfall of N50 billion in the revenue for the month, claimed the CBN did not print money to augment it, though she said the Governors mounted pressure on the government to do so.
With this issue at hand, the FIRS is looking to boost the nation’s earnings by pouncing on tax defaulters and has considered gaining access into their bank accounts as a result of “rising cases of wilful and illegal withholding of taxes collected by companies, corporations, Ministries, Departments, and Agencies (MDAs) and other agents of collection.”
Also, the agency plans to “recover taxes due from the defaulters’ asset in the custody of any person, including but not limited to sums standing to its credit with a financial institution in Nigeria.”
The statement signed by the Director of Communication, Mr Abdullahi Ahmad, disclosed that notices have been served to all companies, corporate entities and other agents of collection” and they have been given 30 days to pay all outstanding tax liabilities to the FIRS.
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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