Economy
Naira Falls to N1,687/$1 at Official Market, N1,745/$1 at Parallel Market
By Adedapo Adesanya
It was a bad day for the Naira in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Wednesday, November 20 as it depreciated against the US Dollar by 0.51 per cent or NN8.59 to close at N1,687.52/$1, in contrast to the N1,678.93/$1 it was traded on Tuesday.
Similarly, the Nigerian currency weakened against the Pound Sterling in the official market at midweek by N20.98 to settle at N2,139.86/£1 compared with the preceding day’s N2,118.88/£1 and lost N10.00 against the Euro to quote at N1,783.36/€1 versus the previous session’s value of N1,773.36/€1.
The poor performance of the domestic currency occurred amid a slight improvement in the supply of forex to the spot market yesterday by $44.70 million or 34.8 per cent to $173.29 million from the $128.59 million achieved on Tuesday, according to data from the FMDQ Securities Exchange.
At the parallel market, the Naira suffered a decline of N5 against the greenback during the trading session to trade at N1,745/$1 compared with the preceding day’s N1,740/$1.
Meanwhile, in the cryptocurrency market, Bitcoin (BTC) traded above $97,500 and has been projected to hit a landmark $100,000 figure that would push it above a $2 trillion market capitalisation. It gained 6.1 per cent yesterday to trade at $97,705.32.
The market continues to receive a boost from a pro-government stance from the incoming US presidency and a fresh round of rate cuts by the Federal Reserve that brought back risk appetite among traders.
The run is being colloquially termed a “Trump trade” among traders, with all asset classes from stocks to bond gaining since Donald Trump’s election win in the November 5 election.
Also, Ripple (XRP) appreciated by 4.6 per cent to end at $1.12 as it continued to benefit from possible changes in the US Securities and Exchange Commission, a move that can finally settle the 2020 lawsuit against Ripple Labs that alleged the XRP token is a security under federal securities law.
Further, Solana (SOL) improved by 3.1 per cent to sell at $240.73, Litecoin (LTC) added 2.9 per cent to finish at $87.26, Ethereum (ETH) rose by 1.1 per cent to $3,136.01, Dogecoin (DOGE) increased by 0.8 per cent to $0.3886, Binance Coin (BNB) went up by 0.14 per cent to $612.61, and Cardano (ADA) expanded by 0.08 per cent to $0.1975, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00, respectively.
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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