Economy
Governors, NAICOM to Deepen Compulsory Insurance
By Adedapo Adesanya
The Nigeria Governors’ Forum (NGF) has pledged to work with the National Insurance Commission (NAICOM) to implement and enforce compulsory insurance in all the 36 states of the federation.
This came at the beck of a courtesy visit by the management of NAICOM led by the Commissioner for Insurance, Mr Sunday Thomas, to the office of the Chairman of the forum and Governor of Ekiti State, Mr Kayode Fayemi, in Ado-Ekiti on Tuesday.
Mr Fayemi noted that the forum may invite the insurance sector regulatory agency to meet with the 36 state governors to enlighten them of its initiatives.
He noted that Ekiti State was doing its best in taking insurance seriously but added that there was room for more as all states are willing to collaborate in getting the proper services.
He said, “Be rest assured that we will work with you and we may need to invite you to meet with the 36 state governors to apprise them of your initiatives.
“We have taken note of the benefits inherent in these compulsory insurances and we are always desirous to collaborate.
“The state commissioner of finance and the Head of Service handle our insurances and will be available to work with your team,” he assured.
He then used the opportunity to advise the insurance sector to be flexible in creating new products that are more aligned with the country, considering the current state of things.
On his part, the Commissioner for Insurance used the occasion to seek collaboration with the state government in the enforcement of compulsory insurances in the state.
He noted that the financial services industry is key to the growth and sustainable development of any nation and state because of its direct impact on access to finance, a catalyst to improved income, poverty reduction and also stability in the financial system.
Mr Thomas stressed that as a subset of the industry, the insurance sector is a pivot to guarantee the sustainability of growth and development of the state and its people.
“We have therefore noted the necessity to plant insurance and people at the centre of any equation that tends to create, enhance, sustain and manage growth and development in any economy.
“As a people, human activities have associated risks and in spite of every precautionary measure to avoid the occurrence of losses or damages, the unexpected still occur.
“In consequence of the losses the victims are prone to sufferings which in many cases may lead to total impoverishment of a large proportion of those affected.
“To ameliorate the situation of victims, laws have been put in place for an arrangement that will ensure that victims and especially third parties are adequately compensated,” he said.
Mr Thomas maintained that the objectives of protecting third parties and relieving the government of the avoidable burden of compensation from the purse of the government led to the enactment of various laws on compulsory insurance products.
He explained that over the years, the commission has embarked on series of programs aimed at a nationwide massive public enlightenment with respect to compliance with the laws on compulsory insurances, he said.
The NAICOM chief recommended that the NGF Chairman nominates an agency of the government that will serve as a liaison office with the commission in the collaboration.
The nominated agency, he said, will be charged to work with the team of the state on this collaboration and recommend appropriate measure to domesticate the enforcement of the compulsory insurances in the state.
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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