Economy
Jubilation as FG Okays N45b for Former Nigerian Airways Workers
By Modupe Gbadeyanka
Some former workers of the defunct Nigerian Airways are in jubilation mood and the reason is not far-fetched.
On Wednesday, after the Federal Executive Council (FEC) meeting in Abuja, the Minister of State for Aviation, Mr Hadi Sirika, told newsmen that government has approved N45 billion for the payment of their entitlements.
Nigerian Airways was liquidated in 2003 by the President Olusegun Obasanjo administration and in 2006, an Inter-Ministerial Committee was set up by the Federal Government.
The panel later recommended the sum of N78 billion as the total severance package for 10 years for the workers, including pension arrears for the period after the physical verification of about 6,000 beneficiaries.
However, the Presidential Initiative on Continuous Audit (PICA) later set up by the present administration of President Muhammadu Buhari in its recommendation slashed the sum to just N43 billion, a 45 percent reduction, a move that did not go down well with the Minister of State for Aviation, Mr Hadi Sirika, who insisted that the earlier approved sum of N78 billion must be paid to the beneficiaries.
It was earlier thought that the N78 billion would be paid to the former workers, but the latest development has indicated that they will only receive N45 billion.
The Minister, yesterday, disclosed that at the FEC meeting on Wednesday presided over the Vice President, Mr Yemi Osinbajo, would give N45 billion to the ex-workers of the defunct Nigerian Airways as their severance package.
Business Post gathered that this news has been welcomed by most former employees of the defunct national carrier.
Some of the workers who spoke with our correspondent in Lagos expressed their joy over the development.
“We are very happy about this news, it is one of the best we have heard in recent times,” most of them echoed.
Business Post has reliably gathered that some of the former workers would be meeting on Friday, where the issue would be further discussed.
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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