Economy
Naira Redesigning Good for Economy—Buhari
By Aduragbemi Omiyale
President Muhammadu Buhari has thrown his full weight behind the decision of the Central Bank of Nigeria (CBN) to redesign the higher Naira notes.
Last Wednesday, the Governor of the central bank, Mr Godwin Emefiele, announced plans to change the look of the N200, N500, and N1000 banknotes from December 15, 2022.
While addressing reporters at a special press briefing in Abuja, he disclosed that the old notes would seize to become legal tender in Nigeria from January 31, 2023, urging those with the Naira notes to approach their banks to exchange them for the new ones at no cost.
Two days after this announcement, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, while speaking with the Senate Committee on Finance in Abuja, opposed the Naira redesigning, saying she was not consulted about the issue, noting that she also heard it from the media like every other person, despite being a top member of the fiscal policy team of this government.
On Sunday, in an interview to be aired on Wednesday on Tambari TV on Nilesat, Mr Buhari said he authorised the apex bank to redesign the banknotes because he was convinced that the nation would gain a lot by doing so.
In a statement issued yesterday by Mr Garba Shehu, the Senior Special Assistant to the President on Media and Publicity, Mr Buhari said the economy stands to benefit from a reduction in inflation, currency counterfeiting and the excess cash in circulation just because of the action, which has generated controversies since its announcement.
According to the statement, the President did not consider three months for the change to the new notes as being short, saying, “People with illicit money buried under the soil will have a challenge with this but workers, businesses with legitimate incomes will face no difficulties at all.”
In the Hausa radio interview with the famous journalist Halilu Ahmed Getso and Kamaluddeen Sani Shawai, President Buhari also addressed food security and national security, among others.
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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