Economy
SEC Seals Yuan Dong ‘YDEC’ Premises as Police Arrest Promoters
By Dipo Olowookere
Operations of Yuan Dong (YDEC), which claimed to be an investment company in Nigeria, have been declared illegal by the Securities and Exchange Commission (SEC) and has subsequently sealed up the business premises of the firm.
The agency disclosed that on Thursday, February 23, 2017, pursuant to its non-tolerance policy of unhealthy practices in the market, and in exercise of its powers enshrined in Section 13 (w) of the ISA 2007, it “sealed up” the premises of Yuan Dong in order to completely put an end to the unlawful activities of the company against unsuspecting investors.
A statement issued by the capital market operator dated Saturday, February 25, 2017, disclosed that Yuan Dong is an illegal capital market operator in Nigeria and has warned public investors to be careful of the firm.
SEC said in the statement posted on its website that Yuan Dong parades itself as an investment company thereby extending invitations to unsuspecting members of the public to subscribe in a scheme identified as a Resources Investment Account.
The market regulator noted that “investments in the scheme range from a minimum deposit of N10,000 to a maximum deposit of N240,000.”
“The investment period of the scheme is pegged at a minimum of 30 working days to a maximum period of 10 months with offer of interest rates on short and medium term basis, which include promise of a daily profit of N80 and N2,400 depending on the category of investment,” it added.
SEC said the company also entices its customers with payment of bonuses should they convince more investors to invest in the scheme.
The commission pointed out that it has since conducted an investigation into the activities of Yuan Dong and has “established that its activities constitute a breach of the Investment and Securities Act (ISA), 2007.”
“Furthermore, it was discovered that contrary to their supposed existence in over 20 locations across the country, the company only has functional offices in Asaba, Kano and Abuja.
“The promoters of these illegal operations have been arrested by the Nigeria Police Force and are undergoing interrogation,” the statement said.
SEC said it “wishes to notify the investing public that the company is not licensed to carry out investments business of any sought; and as such its operations are illegal.”
The statement said while it wishes to use this medium to reiterate its commitment to sanitize the Nigerian capital market of all illegal operators, the investing public is however advised to exercise due diligence and caution in the course of making investment decisions.
It pointed out that valid licenses of lawful operators can be obtained on its website, www.sec.gov.ng and members of the public are advised to confirm the licenses of firms they intend to carry investment activities with.
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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