Economy
Heritage Bank Reaffirms Commitment to Agric Financing
By Dipo Olowookere
Heritage Bank Plc has restated its commitment to the sustenance, growth and development of agricultural sector in Nigeria through the provision of funds to stakeholders in the industry.
This reassurance was made in a statement issued by Heritage Bank’s Divisional Head of Corporate Communications, Mr Fela Ibidapo.
Mr Ibidapo explained that Heritage Bank, in its determination to deliver on this promise, is currently funding various agricultural projects in several states of the country, especially in Oyo, Kaduna and Zamfara states.
He said Heritage Bank has entered into a partnership with the Oyo State Government to support the multi-billion Oyo State Agricultural Initiative (OYSAI), a programme designed to revive agriculture, boost agro-allied businesses and empower the youth and women across the state through the creation of thousands of jobs in the sector.
According to him, Heritage Bank is also supporting an agro-investor, Triton Aqua Africa Limited (TAAL), with a N2 billion facility in collaboration with the Central Bank of Nigeria (CBN) under the Commercial Agriculture Credit Scheme (CACS). The facility will enable TAAL to set up a fishery production chain in Lagos, Oyo and Osun states.
Ibidapo said this support to the agro-investor became imperative after research showed that Nigerians consume about 2.7 million metric tonnes of fish yearly compared to the paltry 800,000 metric tonnes of fish that is produced locally every year.
Consequently, the country has had to rely on importation to augment the shortfall with an estimated cost implication of about $700 million yearly in foreign exchange.
He said the partnership between Heritage Bank and TAAL would help reverse the trend, adding that the firm will use the facility to expand its aquaculture businesses by setting up a nursery/hatchery for the production of fingerlings and brood stock as well as earthen ponds for catfish and tilapia in the three states.
Under the arrangement, TAAL is expected to assist small-scale farms in the three states to increase their fish production by making fingerlings available to them. In the short term, the loan is expected to help the group double its current production capacity of 25,000 metric tonnes with a projection to scale it up to 100,000 metric tonnes in five years.
Ultimately, the partnership between Heritage Bank and TAAL will help to boost local production, conserve scarce foreign exchange and enhance food security, and ultimately result in the creation of hundreds of new jobs.
Heritage Bank is also supporting thousands of smallholder farms in Kaduna and Zamfara states. The smallholder farmers stand to benefit from the bank’s financial support for rice and soya beans production under the CBN’s Anchor Borrowers Programme (ABP).
Mr Ibidapo said the bank’s drive to support the agriculture sector is an act of patriotism aimed at helping the government’s desire to achieve food security and sufficiency in the country. It is also based on the conviction that agribusiness can be profitable, he said.
He noted that there are myriads of constraints facing the agriculture sector such as poor road network and electricity supply to farmlands that are mostly located in the rural areas while majority of the smallholder farms are financially excluded with no access to banking services.
He said the bank is taking steps to clear the bottlenecks for smallholder farmers who wish to gain access to banking services.
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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