Economy
Rivers Won’t Tolerate Economic Sabotage—Wike
By Adedapo Adesanya
The Rivers State Government has disclosed that it will not allow any act of economic sabotage such as crude oil theft to continue taking place in the state.
This warning was given by the state governor, Mr Nyesom Wike, who noted that the war against illegal refining of crude oil is not about political parties but about Nigeria and its survival.
He stated that it is also about ensuring that the health of Rivers people is not endangered.
Speaking during a security meeting he had with heads of security agencies in the state and five Local Government Chairman at the Government House in Port Harcourt, Mr Wike said, “The mere fact that I am in opposition does not mean that I have to sabotage the economy of the nation. This country belongs to all of us and you know that oil is the major source of revenue for the federation that the three tiers of government share from.
“So, you cannot, because you’re of the opposition, close your eyes and allow that to happen. No responsible government does that. This is not about the party. It is about Nigeria. It is about making sure this country survives and then also the health factor.
“We must continue to take this war very seriously. Not only because it is sabotage to the national economy but also for the health of our people, which, for me, is the key why we must fight against this sabotage.”
Mr Wike commended the security agencies and some chairmen of councils who have shown seriousness in the fight against operators of illegal crude oil refineries in the state.
He, however, urged them not to rest on their oars because the fight is far from over, especially with such commitment to save Rivers people and all residents of the likely ailment soot causes.
“So, let’s take this as a war that we must save our people. And we must save our nation. I commend you so far, for your efforts. But we must redouble our efforts and not to give any chances to these armed robbers that they called bunkers.
“As far as I am concerned, they’re even worse than armed robbers. One who sabotages the national economy is worse than an armed robber,” he said.
Governor Wike explained that the list bearing the names of those selected to be part of the task force against illegal refining activities has been sent to the Department of State Services for profiling.
According to him, the prospective members are drawn from council areas where their chairmen have shown commitment to the fight.
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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