Economy
Naira Gains at Official Market, Falls at P2P, Parallel Market
By Adedapo Adesanya
The Naira appreciated against the greenback in the Investors and Exporters (I&E) segment of the foreign exchange (FX) market on Monday by 0.81 per cent or N6.30 to sell at N772.12/$1 compared with last Friday’s closing price of N778.42/$1.
Also, in the official market, the Naira improved its value against the Pound Sterling by N3.67 to trade at N973.09/£1 compared to the previously traded rate of N976.76/£1 and appreciated against the Euro by N1.25 to close at N835.73/€1 versus N836.98/€1.
The Nigerian currency gained weight on these foreign currencies despite a shortfall in the country’s external reserves and the inflow of forex into the system.
Data obtained from FMDQ Securities Exchange showed that the value of FX traders reported at the spot market yesterday was $40.21 million, lower than the $73.80 million achieved in the preceding trading session by $33.59 million or 45.5 per cent.
According to the latest data from the Central Bank of Nigeria (CBN), in the two months since it officially floated the Naira and liberalised the forex market, external reserves have dropped 2.7 per cent or $915 million to $33.74 billion versus $34.66 billion as of June 14, 2023.
This decline in Nigeria’s FX reserves affected the domestic currency in the parallel market on Monday, as it lost N10 against the US Dollar to sell at N915/$1 compared with the preceding session’s rate of N905/$1.
It was not a different story at the Peer-to-Peer (P2P) window, where the local currency depreciated against the Dollar by N13 to sell at N928/$1, in contrast to the previous session’s N915/$1.
Meanwhile, the cryptocurrency market could not convince investors why they should jump back into the landscape, with Bitcoin (BTC) trading volume hitting its lowest level in almost five years this month.
It lost 0.1 per cent in value on Monday to trade at $26,040.32, Ethereum (ETH) also shed 0.1 per cent to sell at $1,649.54, Solana (SOL) declined by 0.2 per cent to $20.45, Ripple (XRP) slumped by 0.1 per cent to $0.5206, and the US Dollar Tether (USDT) dipped 0.02 per cent to $0.9992.
However, Cardano (ADA) jumped by 1.5 per cent to trade at $0.2648, Dogecoin (DOGE) appreciated by 1.1 per cent to $0.0632, Litecoin (LTC) rose by 0.8 per cent to $65.28, and Binance Coin (BNB) expanded by 0.1 per cent to $217.96, while Binance USD (BUSD) traded flat at $1.00.
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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