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Economy

Lagos Registers 400 Money Lenders, 10,000 Churches, Mosques

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400 money lenders

By Modupe Gbadeyanka

In two years about 400 money lenders were registered by the Lagos State government, the Commissioner for Home Affairs, Mr Anofiu Elegushi, has disclosed.

The Commissioner stated that this was done to coordinate activities of players in the money lending sector, saying it is also to protect residents of the metropolis.

“The ministry registers, profiles and monitors the viability of such companies in ensuring that while the money lenders are in business, the general public is also protected from scammers and people of questionable character, while also regulating activities of the companies,” he said.

He also said the collaboration with stakeholders in the sector has greatly assisted small scale business owners in Lagos to keep their petty businesses afloat without having to contend with high-interest rates of the big banks, adding that this activity has contributed to the micro-economic growth of businesses in the state.

Mr Elugushi, who was addressing newsmen at the Y2021 ministerial press briefing at the Bagauda Kaltho Press Centre, Alausa, Ikeja over the weekend, said the ministry is presently in the process of imputing data of every worship centre located in the state on a centralised database to allow the state government have reliable data of churches, mosques and their locations with a view to carrying them along in state government policies.

He expressed hopes that the policy, because of the inherent effective resource allocation and efficient management, will bring about extended benefits to many more churches and mosques in the state, saying that at present, the website designed for the enumeration has over 10,000 details of both Muslim and Christian religious organisations across the state.

The Commissioner also reported on the state of religious harmony and peaceful coexistence of people belonging to the two major religions in the state.

“We pride ourselves in saying that what divides and creates security breach in other parts of the country are what unites us in Lagos, bearing in mind that the state has become a home to people from across Nigeria and beyond.

“I am happy to report to you gentlemen of the press that in the last two years, the State has enjoyed tremendous religious harmony and peaceful co-existence, through one of the critical functions of our Ministry which is facilitating, maintaining and enhancing harmonious relations among faith-based groups and organisations in the state,” he said.

Mr Elegushi added that the feat was achieved through regular, vigorous and consistent engagements and discussions with religious leaders in the state under the umbrella of the Nigeria Inter-Religious Council (NIREC).

While giving the accounts of stewardship of both Muslim and Christian pilgrims welfare boards, the Commissioner disclosed that the ministry went the extra length to partner with the Ministry of Health in ensuring a seamless vaccination exercise for all intending pilgrims.

“As part of measures to ensure a successful pilgrimage exercise, intending pilgrims were screened both administratively and medically.

“Over 2,500 intending pilgrims were vaccinated with the Oxford AstraZeneca COVID-19 vaccine between Saturday, March 27 and Sunday, March 28, 2021, by the Christian and Muslim pilgrims welfare boards in collaboration with the state Ministry of Health. This was in fulfilment of the requirements for gaining entry into the Kingdom of Saudi Arabia for the performance hajj and Jerusalem pilgrimages,” he stated.

On the readiness for the Y2021 pilgrimage exercise by intending Christian pilgrims, Mr Elegushi informed that the permanent secretary in the Ministry led a six-man delegation to Jordan, ahead of the proposed May 2021 pilgrimage, to ascertain the preparedness of pilgrimage handlers and to also have a better and clearer view of historical sites in Jordan.

Also, the Commissioner said the ministry received 74 applications for naturalisation on behalf of the Federal Ministry of Home Affairs in two years. He said of these, 35 have been screened and recommended to the Federal Ministry of Interior for approval.

He explained that the Ministry is also in talks with foreign business owners, who intend to acquire Nigeria citizenship via naturalisation and/or special immigrant status, saying that with the ongoing engagement, Nigeria, especially Lagos State, stands to benefit foreign direct investment while the immigrant business owners also benefit by growing their businesses in one of the biggest markets in the world.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Economy

SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs

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capital market operators

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.

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Economy

Fidson Lists Additional 600 million Shares on Stock Exchange

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fidson

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.”

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Economy

FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure

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FG contractors protest

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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