Economy
Oil Prices Spike on Fresh Saudi Attacks, AstraZeneca Vaccination
By Adedapo Adesanya
Crude oil prices returned to positive territory on Friday after a string of bearish news including fears that fuel demand recovery may suffer some setbacks.
At the trading session, the price of the Brent crude gained $1.25 or 1.98 per cent to trade at $64.53 per barrel, while the West Texas Intermediate (WTI) crude moved up by 2.37 per cent or $1.42 to trade at $61.42 per barrel.
Oil prices had plunged over renewed demand worries as fresh lockdowns to contain the new wave of COVID-19 infections sprung up in European countries.
While fresh lockdowns are being imposed by several countries on the continent, the pace of vaccination programmes has slowed down due to concerns about the AstraZeneca vaccine’s side effects.
However, the World Health Organisation (WHO), alongside the European Medicines Agency, said the vaccines were safe for use and some countries have already announced plans to start back the vaccination programme.
In addition, prices got a boost yesterday after a drone attack struck an oil installation in Saudi Arabia’s capital of Riyadh on Friday, igniting a blaze at the facility deep in the kingdom’s territory.
The dawn attack caused no injuries or damage and did not disrupt oil supplies, according to the official Saudi Press Agency.
The kingdom, which is the world’s largest exporter of oil, is facing more frequent airborne assaults as Saudi-led coalition forces battle Iran-backed Houthi rebels across the southern border in Yemen.
Most recently, drones struck Ras Tanura, the country’s largest crude oil refinery with a capacity of 550,000 barrels a day, raising tensions in the region.
While Houthi-claimed attacks on Saudi Arabia rarely cause damage, strikes on major oil facilities in the kingdom raise the risk of a disruption in world oil supplies.
Moreover, a stronger US dollar is taking a toll on oil prices as a stronger greenback makes crude oil more expensive for holders of other currencies.
Some profit-taking is expected to likely push oil prices down as market participants are focused on the negative short-term signals than the more bullish expectations for robust oil demand rebound later this year.
Economy
SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs
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.
Economy
Fidson Lists Additional 600 million Shares on Stock Exchange
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.”
Economy
FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure
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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