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Naira Weakens to N885.88/$1 at NAFEM Before Christmas Break

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By Adedapo Adesanya

The Naira weakened by 2.8 per cent or N23.97 on the Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, December 22 in what was the final session before the Christmas break.

The value of the Nigerian currency closed at N885.88/$1 yesterday compared with the preceding session’s N861.91/$1.

However, the Naira ended in a stalemate against the Pound Sterling as well as against the Euro at N1,148.22/£1 and N933.77/€1, respectively.

During the trading day, the value of FX transactions decreased by 49.2 per cent or $89.14 million to $92.16 million from the $181.30 million achieved in the previous trading session.

The official FX market will close for the Christmas holiday (Monday, December 25) and the Boxing Day break (Tuesday, December 26) and resume on Wednesday, December 27, though the other will remain operational.

In the Peer-to-Peer (P2P) window, the Nigerian currency appreciated against the American currency yesterday by N20 to sell for N1,157/$1 versus the N1,177/$1 it traded a day earlier.

Also, in the parallel market segment, the domestic currency gained N35 against the greenback on Friday to trade at N1,160/$1 compared with the previous day’s exchange rate of N1,195/$1.

In the cryptocurrency market, Solana (SOL) continued its stellar performance as it rose by 11.3 per cent to sell at $82.97 as ongoing hype for the blockchain’s speedy transactions, cheap fees and a lottery of meme coin issuances extended into its third week.

Solana has possibly been the strongest draw among on-chain traders, with trading volumes and network fees crossing Ethereum (ETH), which is usually the highest. The buying pressure has sustained even amid pressure from the bankruptcy estate of crypto exchange FTX, which held billions of Dollars worth of SOL.

Yesterday, Cardano (ADA) rose by 2.7 per cent to $0.5923, Bitcoin (BTC) appreciated by 2.4 per cent to $43,426.99, Binance Coin (BNB) recorded a 2.3 per cent rise to sell for $257.87, Ripple (XRP) improved by 1.2 per cent to $0.6136, Dogecoin (DOGE) chalked up 0.8 per cent to quote at $0.0911, and Ethereum (ETH) grew by 0.3 per cent to trade at $2,192.32.

However, Litecoin (LTC) depreciated by 1.6 per cent to close at $69.70, while the US Dollar Tether (USDt) and US Dollar Coin (USDC) traded flat at $1.00 each.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Economy

SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs

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capital market operators

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.

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Economy

Fidson Lists Additional 600 million Shares on Stock Exchange

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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.”

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Economy

FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure

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FG contractors protest

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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