Economy
I Suspended Gwarzo for Threatening to Blackmail Me—Adeosun
By Modupe Gbadeyanka
Nigeria’s Minister of Finance, Mrs Kemi Adeosun, has explained the main reason she suspended Mr Mounir Gwarzo as the Director General of the Securities and Exchange Commission (SEC) last Wednesday.
In a statement issued in Abuja on Friday, the Minister disclosed that the suspended regulatory chief was punished for allegedly trying to blackmail her.
She, however, refuted reports that she punished the SEC boss for his refusal to stop the forensic audit of Oando Plc.
Mrs Adeosun described such reports as totally “misleading and mischievous.”
Mr Gwarzo was suspended last week by the Minister after insisting on conducting a forensic audit of the energy firm, according to a memo the DG sent to Mrs Adeosun.
Oando Plc is headed by Mr Adewale Tinubu, a relative of Mr Bola Tinubu, the national leader of the ruling All Progressives Congress (APC).
In the statement sent to journalists today, Mrs Adeosun alleged that Mr Gwarzo had threatened to leak information to the media if any action was taken by the Minister against him.
The Finance Minister said this angered her, resulting into his eventual suspension.
She also said the action was “in line with the Public Service Rules (PSRs), to allow for an unhindered investigation of serious allegations of financial impropriety against him.”
“Mr Gwarzo personally delivered the memo using SEC staff seconded to the office of the Minister, in breach of normal procedures for the receipt of mail.
“The copy of the memo in the possession of the Minister was delivered with a message that any action against Mr Gwarzo would result in same being leaked to the press.
“It was this threat of blackmail that strengthened the resolve of the Minister to suspend Mr Gwarzo and allow the Administrative Panel of Inquiry to proceed with its probe,” the statement disclosed.
Mrs Adeosun stressed that, “There was no directive whatsoever to discontinue investigation into Oando,” noting that “The investigative work on Oando and all other ongoing investigations being undertaken by SEC in the discharge of its statutory functions have continued and are ongoing. Indeed, our information is that the forensic auditors have resumed at Oando.”
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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