Economy
Heritage Bank Backs Triton Group Reforestation Project in Oyo
By Dipo Olowookere
The second phase of afforestation programme of Globus Resources Limited, a subsidiary of Triton Group, in Oyo State has received the backing of Heritage Bank Plc, one of Nigeria’s most innovative banking services providers.
The bank as the first financier had earlier financed the first phase of the project and offered N2 billion long-term facility to enable Triton Aqua Africa Limited (TAAL) expand its aquaculture businesses- nursery/hatchery for the production of fingerlings and brood stock in Ikeja; and earthen ponds for catfish and tilapia in Asejire, Iwo and Gambari towns in Oyo.
Under the programme, Globus Resources is expected to plant about 350,000 seedlings of teak, Gmelina arborea and Cidrella trees yearly over a period nine years in a bid to reforest about nine thousand hectares of land in Gambari village in Oyo state which had been exploited by tree fellers for timbers among others.
Speaking at the event, Managing Director/CEO of Heritage Bank, Mr Ifie Sekibo, commended the state Governor, Mr Abiola Ajimobi and the Triton Group for the initiative between the state and Globus Resources to reforest the area again.
He remarked that if every governor could put a little of bit of backing into agriculture as a way of life, it would go a long way to better the lives of the people.
He added that, “we seemed to forget that our lives as Nigerians/Africans started with the land. If we don’t take care of the land, the land will take care of us, the land does not need us, and we need the land to take care of us. Afforestation is one of the ways to take care of the land and we need to talk about carbon credit because we need to find a way to make money.”
Mr Sekibo said “we consistently cut down trees to make boats, plywood and all kind of things for comfort and don’t think about replenishing them, remarking that they are actually exhaustive, they are not inelastic and there is need for deliberate steps to be taken to replenish them.”
Meanwhile, Mr Sekibo expressed satisfaction with the pace at which the project was going; as he assured the company’s team that Heritage Bank would continue to support the genuine cause by Triton Group to boost the agricultural base of the nation as long as the business relationship between the bank and Triton Aqua is mutually beneficial.
The bank boss thanked Triton Group for taking the initiative to replenish the trees, noting that although it will take a while for the trees to become usable, they will regenerate and as they nurture them to grow, in the next five to ten years, the whole place will be covered with trees.
Chairman/MD of Triton Group, Mr Ashvin Samtani, said the group has been operating in Nigeria for about 40 years, remarking that they are Nigerians, not expatriates, adding that beyond the tree planting initiative, the group intends to employ about 5,000 people.
The chairman of the occasion, Mr Akinwale Moradayo, Deputy Director of Forestry in the Ministry of Agriculture, Natural Resources and Rural Development, Oyo State who stood in for the Commissioner, Mr Oyewole Oyewumi also stressed the need to do something to protect the land, so that its inhabitants would not be consumed.
The Triton Group besides afforestation is also engaged in poultry and aquaculture among others.
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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