Economy
JAIZ Takaful Insurance Emerges Company of the Year
By Dipo Olowookere
Foremost Nigerian finance journalists’ body, Finance Correspondents Association of Nigeria (FICAN), has announced Jaiz Takaful Insurance Plc as the 2017 Insurance Company of the Year.
This, according to the association, was in recognition and appreciation of the insurer’s positive contribution to the insurance sector of the Nigerian economy.
Jaiz Takaful Insurance Plc was presented with the award at the 20th Anniversary Public Lecture and Award of FICAN held on September 19, 2017 at the Top Rank Hotel Galaxy, Abuja.
Managing Director and Chief Executive Officer (MD/CEO) of Jaiz Takaful Insurance, Mr Momodou Musa Joof, described the honour as an act of encouraging professionalism and excellence in the insurance sector.
He stressed that Jaiz Takaful Insurance has come to stay in Nigerian insurance market with the aim of improving insurance penetration in the country.
The company’s chief executive described the system of Takaful or Islamic Insurance as an alternative to the conventional system of insurance acts as an additional vehicle for economic growth.
He said Takaful operations have great potentials in Nigeria considering the market size and the fact that Takaful was open and available to all irrespective of one’s faith.
“Though first quarter of 2017 marked our start of operation in Nigeria, it is interesting to announce that the company has realized about N20 million in premium income despite we only got our products approval within the quarter,” he said.
The system of Takaful as an Insurance service provides solidarity in respect of human life or property of the policyholder known as participants.
They subscribe to assist and indemnify each other in the event the need arises, in addition to mutual assistance, what is new is that at the end of the business year, any profit made under Takaful will be proportionately shared among its participants and shareholders in relation to the scale of their investment.
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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