Economy
Lagos Gives 14-Day Ultimatum To Street Hawkers
By Dipo Olowookere
Street hawkers in Ikoyi, Victoria Island and the Lagoon Front of Lekki in Lagos State have been given two weeks to leave or risk being arrested and prosecuted by the state government.
Secretary to the State Government (SSG), Mr Tunji Bello, in a statement on Sunday, read a riot act to all the owners of illegal structures, shanties, street hawkers and those who have converted walkways into trading points and food courts in the mentioned areas to remove such illegal structures.
Mr Bello warned that if such illegal structures are not removed after the 14 days grace, the State Special Task Force on the Clean Up of the areas would move in to enforce the laws.
“The owners of all illegal structures, shanties, abandoned buildings and all those who have converted road median to commercial uses in Ikoyi, Victoria Island and Lekki have between today (Monday) and two weeks’ time to comply or have the State Special Task Force on the Clean Up of the areas to contend with,” he warned.
The statement added that owners of all abandoned buildings in different areas of Ikoyi, Lekki and Victoria Island which are now harbouring pr0stitutes, illegal miscreants and unwanted elements, must clear the structures of such undesirable elements immediately.
He specifically warned owners of properties on the Lagoon fronts of Lekki Phase 1 who have littered the whole areas with compactors and several other deadweight equipment to remove them out immediately.
Mr Bello said the State Government was concerned about the conversion of the frontages of properties and abandoned houses to kiosks and trading points by maids and guards as well as the unregulated activities of horticulturists who have turned setbacks to hide outs and selling points.
He reiterated the determination of the Ambode-led administration to restore the original master plan of Ikoyi, Victoria Island and Lekki by checking the activities of roadside automobile repairers who have converted many dual carriage lanes to single lanes with indiscriminate parkings.
He said the State Government would no longer tolerate unauthorized parking of vehicles, trucks, among others on drainage infrastructure, adding that owners of such vehicles and properties with unkempt drainages will be prosecuted.
Bello said it was totally unacceptable for people to stockpile and display wares such as bags of charcoal on major Roads like Ahmadu Bello Way and Federal Secretariat Road, Ikoyi, stating that henceforth such goods would be confiscated and the owners prosecuted.
“We are using this medium to sensitize members of the public and residents of the affected areas who are involved in these illegalities to immediately take right action and do the needful as the State Government will take the necessary steps to enforce its environmental and sanitation laws forthwith.
“All those engaging in roadside display of wares, illegal street trading and all illegal squatters on undeveloped land and all those who have converted road median to commercial uses in Ikoyi, Victoria Island and Lekki are being advised in their own interest to put a stop to the illegalities,” he said.
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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