Economy
FRC Tackles R.T. Briscoe Nigeria Over Auditor’s Opinion
By Dipo Olowookere
The presence of a critical opinion of auditors in the audited financial statements of R.T. Briscoe Nigeria Plc has caused the delay in filing the results to the Nigerian Stock Exchange (NSE).
The company disclosed this in a statement issued to the exchange to explain the reason for the delay in publishing the results to allow shareholders to know its financial status as at December 31, 2019.
In the notice, R.T. Briscoe Nigeria said though its board approved the documents on August 4, 2020, and submitted them to the Financial Reporting Council of Nigeria (FRC), the auditor’s note in the financial statements under the Emphasis of Matter was made the agency to ask more questions, the reason for the delay.
Business Post reports that Emphasis of Matter is a paragraph slotted in financial statements to highlight important matters appropriately presented or disclosed in the statements, which, in the auditor’s professional judgment, would help in the understanding of the financial statements.
It is commonly required when a company has a change in an accounting principle or if the auditor believes an event is fundamental to users’ understanding of the financial statements. Also, it is used if the external auditor wants an issue to be critically checked.
R.T. Briscoe was one of the six companies barred from trading its shares on the local exchange on Tuesday because it failed to file its reports as required by the listing rules.
In reaction, the firm released the statement to explain the reason for the delay.
“R.T. Briscoe Nigeria Plc wishes to notify the Nigerian Stock Exchange (NSE), its shareholders and the investing public that its audited financial statements for the year ended December 31, 2019, were approved by the board on August 4, 2020, and have since been submitted to the Financial Reporting Council of Nigeria (FRC) for regulatory review by our auditors [but it has been delayed] because of the presence of Emphasis of Matter in the audit opinion.
“As a consequence of the provisions of the exchange’s listing rules dealing with quarterly financial statements which prelude the company from announcing subsequent interim accounts without having first filed its last AFS, though ready, the company has been unable to file the unaudited financial statements for the first and second quarters of 2020.
“The company regrets any inconvenience the delay might cause and is confident that the regulatory review at the FRC, though beyond its control, would be completed shortly and the 2019 AFS and the UFS will be filed with the exchange at the latest on or before September 30, 2020,” the MD/CEO of the company, Mr Seyi Onajide, said in the notice.
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