Economy
Obaseki Offers 50% Waiver To Tax Defaulters
By Modupe Gbadeyanka
Tax defaulters in Edo State have been given a 50 percent waiver by the state Governor, Mr Godwin Obaseki.
However, they have to meet certain conditions to enjoy this freebie.
The Governor made this announcement during a meeting with the Management of Edo State Inland Revenue Service (EIRS) and representatives of tax payers in the state which held at the weekend in Benin City, the state capital.
Mr Obaseki noted that the gesture was to tidy up tax system and encourage tax defaulters to join the pool of 10 percent who pay taxes in the state.
He said part of the conditions set for the defaulters to benefit from the waivers is that all the outstanding tax liabilities running into billions of naira, inherited from by past administrations up to December 1, 2016, must be paid within 90 days.
Mr Obaseki noted that the tax administration of EIRS would be reviewed to check the perceived abuses and arbitrariness in tax assessment and in the state.
According to him, adequate deployment of Information Communication technology (ICT) and trained personnel across the various offices of EIRS in the state would be done.
The Governor further said an online portal, where tax payers could assess and file their tax returns effortlessly, would be set up in the next six months.
“On a final note, I agree with you, this is a new era. We are in a recession. Things are difficult and as a government that is listening, we must respond, but also, as a people, you must also reciprocate.
“We will look at all outstanding tax liabilities. We will wave most of the interest and penalties that have accumulated and impact on what is outstanding.
“Depending on the category, it is from the waiver that you will get up to 50 percent of what you owe provided that you also agree that you make the payment of what is outstanding within 90 days. We hope that you will also reciprocate by making sure that you clear all your tax arrears so that we do not take them into the new year (2017).
“We want a new start of a new dawn. We want to clean up and ensure that we face the future together with a common sense of purpose.
“We will be investing more in Information Communication technology (ICT). With ICT, you can assess yourself and file your returns on your own.
“We will be upgrading our different area offices across the City and the state to make sure that they serve you better.
“We will be training a lot of new employees who will treat you properly.
“You are Edo Citizens and you are not people under captivity, therefore our role as government is to serve you. We are collecting these taxes to provide service to you.
“We will not allow a situation whereby you see us as evil and unfriendly. Government must be friendly and perceived as humane. However, that is not a sign of weakness and that is something that we must emphasize in EIRS,” Mr Obaseki disclosed.
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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