Economy
Oil Prices Rebound Amid Banking, Demand Jitters
By Adedapo Adesanya
Oil prices rebounded and rose by over 1 per cent on Monday, even as the market worried that risks in the global banking sector could spark a recession that would weaken fuel demand.
Brent crude futures rose 82 cents or 1.1 per cent to $73.79 a barrel, while the United States West Texas Intermediate (WTI) crude futures gained 90 cents or 1.4 per cent to sell at $67.49 per barrel.
Earlier in the session, prices had dived to their lowest levels in 15 months amid the banking sector turmoil of the past week with the latest from Credit Suisse, which, despite a takeover by UBS, didn’t offer much hope.
During the weekend, UBS said it plans to buy troubled Credit Suisse for $3 billion in an attempt to stop the contagion from spreading to the global banking system.
“The combination is expected to create a business with more than USD 5 trillion in total invested assets and sustainable value opportunities,” UBS said on Sunday.
Amid the market turmoil, investors and speculators fled riskier assets such as crude oil futures.
After the deal was announced, the US Federal Reserve, European Central Bank, and other major central banks pledged to enhance market liquidity and support other banks.
Analysts noted that due to this development, the market’s direction is being impacted by something more than demand and supply.
The markets are also on edge about the US Fed Reserve’s next meeting, which is on Tuesday and Wednesday, and analysts expect the high volatility in all markets – including the oil market – to continue at least this week.
Meanwhile, the Group of Seven Nations (G7) is not likely to revise a $60-per-barrel price cap on Russian oil this week, according to Reuters on Monday.
The G7 was due in mid-March to revise the price cap put in place in December, but the officials said EU countries’ ambassadors were told by the European Commission over the weekend there is no appetite among the G7 for an imminent review.
A ministerial committee of the Organisation of the Petroleum Exporting Countries (OPEC) and producer allies, including Russia, together known as OPEC+, is set for a meeting on April 3.
The 23-member group agreed in October to cut oil production targets by 2 million barrels per day until the end of 2023.
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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