Economy
N145m Debt: AMCON Threatens Lawmaker With Sanction
By Ebitonye Akpodigha
A member of House of Representatives has been threatened with a sanction over a debt in the region of N145 million.
The federal lawmaker, Mr Mustapha Dawakin Bala, was threatened by the Asset Management Corporation of Nigeria (AMCON).
It was learnt that Mr Bala allegedly refused to service the said debt and has now been given 14-days to pay up or risk sanction.
The congressman is representing Dawakin Kudu/Warawa federal constituency of Kano State in the green chamber.
A letter dated July 20, 2016, and signed by Kamar Raji on behalf of Wande Okeya and co., a consortium-Asset Management Partner appointed by AMCON had warned Mr Bala that “failure to positively respond to this letter within 14 days of its receipt will leave us with no other choice than to initiate the process of recovery against you in line with the power conferred upon AMCON under the law.”
But the lawmaker did not respond to the letter since July, according to Mr Raji.
He said in a letter that, “We are aware that you requested for and granted a Share Purchase Facility to purchase 2000.000 units of Zenith Bank Plc shares. We have been informed from the documents made available to us that your indebtedness to AMCON currently stands at N145, 980,886.99.
“We have also been informed that you have refused to liquidate your indebtedness till date.
“We wish to inform you that upon your refusal to liquidate your indebtedness till date, interest at rate of 21% per annum has continued to accrue on the said indebtedness and will continue accruing till final payment of this indebtedness.
“In view of the above stated mandatory, we hereby demand for the immediate payment of the sum of N145, 980, 889.99 and all accrued interests towards liquidating the indebtedness.
“We believe a man of your calibre and standing in society will give room to reasoning and good counsel in the resolution of this indebtedness.”
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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