Economy
IMF Approves Disbursement of $61m To Chad
By Modupe Gbadeyanka
The sum of $61 million has been approved by the International Monetary Fund (IMF) for an immediate disbursement to Chad.
This followed the completion of the third and fourth reviews of Chad’s economic performance under the program supported by an Extended Credit Facility (ECF) 1 arrangement.
Announcing the fund disbursement on Monday, the IMF Executive Board explained that the total disbursement to Chad under the ECF arrangement was now $135 million.
The Board also said it approved the authorities’ request to waive the non-observance of the continuous performance criterion on the non-accumulation of new external payments arrears and the end-December 2015 and end-June 2016 performance criteria on the non-accumulation of domestic payment arrears.
It also approved requests to augment access under the program for $46.2 million and to extend the arrangement until end-November 2017, as well as a rephrasing of the planned disbursements.
Chad’s ECF arrangement was originally approved by the Executive Board on August 1, 2014 for about $109.7 million.
Additional access of 40 percent of Chad’s quota at the time was approved by the Executive Board in April 2015, bringing Chad’s access under the ECF arrangement to $146.3 million at that time.
Following the Executive Board’s discussion on Chad, Mr Mitsuhiro Furusawa, Acting Chair and Deputy Managing Director, disclosed that, “Performance under the ECF-supported program has been broadly satisfactory in spite of intensifying pressures from the oil shock and the tense regional security situation.
“The authorities have taken determined steps to address the fiscal imbalances that emerged earlier this year, by moving to cash-based execution of the budget and implementing large spending cuts. Progress has also been made in implementing the structural reform agenda.”
He said, “Moving forward, the second revised 2016 budget that was approved by the National Assembly and the draft 2017 budget that has been submitted to the National Assembly aim to preserve the significant adjustments made.
“While the budgets are based on conservative revenue assumptions, the authorities are committed to protect social spending, and will continue to seek additional donor support to ease the fiscal constraints. The augmentation of access under the ECF arrangement will help in this regard. For the medium term, the spending envelope should remain in line with available revenues and financing.
“The structural reform agenda remains focused on improving public financial management, including further enhancing oil sector transparency and budget implementation. The authorities are determined to implement a comprehensive strategy for the settlement of domestic expenditure arrears and will soon launch an audit of existing arrears to support this effort. The medium-term fiscal strategy is complemented by measures aimed at increasing non-oil revenue collections.
“A new National Development Plan is at an advanced stage of preparation. A key objective should be to identify measures to diversify the economy and improve the climate for private sector activity. Bold structural reforms are necessary for Chad’s development efforts, especially given oil revenue volatility.”
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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