Economy
Naira Shrinks Against Dollar at P2P, I&E, Flourishes at Black Market
By Adedapo Adesanya
It was a bad day for the Nigerian currency in the official market and the peer-to-peer (P2P) segments of the foreign exchange (FX) market segments on Wednesday as it depreciated against the US Dollar at the close of business.
However, the Naira gained strength against the greenback in the black market yesterday for the second straight session this week.
Data obtained by Business Post showed that the local currency gave up 67 Kobo or 0.14 per cent during the session in the Investors and Exporters (I&E) window to trade at N463.00/$1 compared with the previous day’s rate of N462.33/$1.
This happened amid a slight increase in the value of forex demand in the spot market by 13.6 per cent or $6.28 million as the turnover stood at $52.32 million, in contrast to the $46.04 million achieved a day earlier.
Also, in the P2P category, the domestic currency declined against its American counterpart yesterday by N1 to settle at N751/$1 versus the preceding session’s closing price of N750/$1.
In the interbank segment, the Naira also witnessed a downward movement against the Pound Sterling as it shrank by 32 Kobo to close at N575.09/£1 versus its previous rate of N574.77/£1 while it gained 79 Kobo against the Euro to close at N505.32/€1 compared with the previous day’s rate of N506.11/€1.
In the cryptocurrency market, traders reacted to the decision of the US Federal Reserve to hike interest rates by a quarter of a percentage point.
The central bank explained that it took the action to give it the time to assess the fallout from recent bank failures, wait on the resolution of a political standoff over the United States debt ceiling, and monitor the course of inflation.
After the announcement, Bitcoin (BTC) jumped by 1.2 per cent to $29,027.59, Ethereum (ETH) saw its value go up by 1.3 per cent to $1,896.08, Binance Coin (BNB) rose by 1.1 per cent to $326.37, Litecoin (LTC) appreciated by 0.9 per cent to $89.13, and Dogecoin (DOGE) leapt by 0.6 per cent to $0.0793.
But the value of Solana (SOL) moderated by 2.4 per cent to $22.03, Ripple (XRP) recorded a 0.4 per cent slump to trade at $0.4637, and Cardano (ADA) lost 0.1 per cent to finish at $0.391, while the US Dollar Tether (USDT) and Binance USD (BUSD) closed flat at $1.00 each.
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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