Economy
Supreme Court Has Not Stopped Our Assets Sale—Shell
By Adedapo Adesanya
Oil giant, Shell Plc, has disclosed that its planned sale of onshore assets in Nigeria will go ahead even as the Supreme Court ruled against them in a case in which a Niger Delta community is seeking compensation for a 2019 oil spill.
In a report by Reuters, the spokesman for Shell in Nigeria, Mr Bamidele Odugbesan, was quoted to have clarified that the June 16 Supreme Court ruling was in response to an appeal launched by Shell against a contempt ruling linked to the dispute with the Niger Delta community.
The lawyer for the community said the ruling, which was made public on Monday, barred Shell from disposing of its assets as ordered by a lower court in March.
But Mr Odugbesan explained that, “The Supreme Court ruling on 16 June was with respect to the contempt proceedings and not related to (the) onshore portfolio review.”
Shell has invited bids for its onshore assets but according to the report, Mr Odugbesan did not say how many bids had been received.
Eighty-eight communities in Rivers State were awarded $1.95 billion compensation for an oil spill they blamed on Shell and which damaged their farms and waterways, but the firm has always denied causing the spill.
The community sought and was granted a court order blocking Shell from disposing of its assets.
A panel of three judges said Shell, acting through its agents or subsidiaries was restrained from “selling, allocating, vandalising or disposing of any of its assets/properties …” prior to the determination of the appeal.
The company was also ordered to put the $1.95 billion into an account nominated by the court until the legal dispute was settled.
Shell appealed both rulings and is waiting for a hearing, said Mr Odugbesan.
The company, the most significant international oil major operating in Nigeria, has faced a string of court cases in the past over oil spills.
Shell wants to sell its stake in Nigeria’s onshore fields, where it has been active since the 1930s, as part of a global drive to reduce its carbon emissions.
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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