Economy
NACCIMA Recommends N500 Cybersecurity Levy
By Adedapo Adesanya
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has asked the federal government and the Central Bank of Nigeria (CBN) to fix N500 as the maximum cybersecurity levy.
In a statement on Wednesday, the group called on the Nigerian government to take the step to ease the burden on the private sector, raising concerns about the impact of the new levy on different aspects of the economy.
According to the association, with over N600 trillion recorded in e-payment last year, 0.5 per cent of the figure yearly is significant and with the incident rate significantly lower than the levy rate, the proposed levy should be reduced to N500.
The CBN recently ordered banks and other payment service providers to deduct 0.5 per cent of the total value of electronic transactions as cybersecurity levies to be remitted to the cybersecurity fund domiciled in the office of the National Security Adviser (ONSA).
The levy’s introduction has generated criticism from the public, especially private sector players. While there are some exemptions to the levy, many have claimed its introduction could stifle the cashless policy drive of the CBN.
The group also called for clear performance metrics to justify the introduction of the additional tax on members of the private sector.
The statement read, “With over 600 trillion naira (NIBSS 2023) in transactions annually, the projected revenue from this levy is considerable. For this reason, we must ask: what is the proportion of ALL online transactions are fraudulent transactions? In what way will this levy counteract such transactions? With incidence rates significantly lower than the levy rate, there is a mismatch that needs to be addressed.
“We will therefore advise a maximum levy cap of Five Hundred (500) Naira. It is also a fact that other methods exist to reduce local online cybersecurity risks through professional private sector experts.”
NACCIMA asked the federal government to involve the private sector in the management of the fund for transparency’s sake and stated that the new levy contravenes the provisions of the constitution on the federation’s revenue.
The statement also noted that the levy is dangerous to Nigeria’s competitiveness in terms of ease of doing business and could catalyse capital flight and brain drain in the tech sector.
The group said the development conflicts with assurances of the federal government through the Presidential Committee on Fiscal Policy and Tax Reforms, which is on the verge of producing its final report that hopes to streamline the multiple taxes being paid by the private sector.
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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