Economy
Moghalu Blames CBN for Rising Inflation in Nigeria, Slams Emefiele
By Adedapo Adesanya
A former Deputy Governor of the Central Bank of Nigeria (CBN), Mr Kingsley Moghalu, has criticised the suspended CBN Governor, Mr Godwin Emefiele, for staying in office after he attempted to delve into politics last year.
Speaking on Arise Television on Thursday, Mr Moghalu questioned Mr Emefiele’s policies and procedures during his nine-year tenure as the head of the country’s monetary body, highlighting the consequences of appointing individuals to sensitive positions without due diligence.
Mr Moghalu said that the CBN under Mr Emefiele deviated from its core mandate.
“You know, discussing the suspension of Godwin Emefiele is something, to be frank, I have not wanted to dwell on because, first, there are currently some judicial issues and judicial procedures. He is in detention, and there are allegations against him. So, I don’t want to comment on the exact allegations against him. But looking at his performance as a governor of the central bank over the last several years, my view of his performance has been a matter of record.
“I was saying even when he was the Governor that I have the highest minimal regard for his performance, indeed even his suitability for the role, and we have seen the consequences of not being careful in appointing people to such a sensitive role,” the economist said.
He also lambasted Mr Emefiele’s decision to contest for the presidency while holding the CBN governorship position.
“Of course, he strived to do his job, but I think it got sidetracked, and so, what we are seeing today is not a surprise at all. Especially I want to say that going to contest for the presidency while sitting on the governorship seats of the bank, I think just crossed the line, and in any rational view, that should have made him unfit to continue in that office,” he said.
Speaking further, Mr Moghalu noted that Nigeria’s economy had a peculiar nature, often deviating from traditional economic theories.
“Nigeria’s economy is very funny. It does not always follow the textbooks. Why is it that, although the central bank has been raising interest, interest rates, Inflation has kept going on?” he quipped.
“There are many reasons for that; one is that what is causing this current round of inflation is not the standard definition of inflation of too much money chasing too few goods only,” he added.
He pointed out the presence of a cost-push factor, wherein material inputs had become more expensive due to foreign exchange challenges and other factors.
“There is also the cost-push factor, which means that the input into materials has become more expensive partly because of the forex issues and, partly for other reasons as well.”
Mr Moghalu further attributed the high volume of Ways and Means lending to the government’s poor management of its fiscal affairs.
“And, I forgot to mention, the central bank itself was contributing to inflation through the monetary phenomenon of illegal financing of the federal government’s massive deficits to the tune of N23 trillion in Ways and Means lending,” 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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