Economy
Naira Appreciates to 1,532/$1 at Official Market, N1,570/$1 at Black Market
By Adedapo Adesanya
The Naira opened the week stronger against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) and the black market segments on Tuesday, March 11.
In the official FX market, the domestic currency gained 0.31 per cent or N4.76 on the greenback to sell for N1,532.29/$1, in contrast to last Friday’s value of N1,537.05/$1, according to data obtained from the Central Bank of Nigeria (CBN).
The local currency also improved its value against the Euro in the spot market during the session by N1.98 to quote at N1,655.83/€1 compared with the preceding session’s rate of N1,657.81/€1 but lost N7.86 against the Pound Sterling to trade at N1,980.75/£1 compared to the previously traded rate of N1,972.89/£1..
In the black market, the Nigerian currency gained N20 against the Dollar yesterday to finish at N1,570/$1 versus the previous trading day’s exchange rate of N1,590/$1.
Business Post reports that the forex market is still under pressure due to a spike in demand, but the recent injections by the apex bank helped to suppress it on Monday.
A look at the digital currency market showed that Dogecoin (DOGE) surged on Monday by 4.7 per cent to $0.1837 due to market optimism fueled by the possibility of milder US tariffs and the Federal Reserve’s plans for two rate cuts in 2025.
Memecoins, being highly speculative assets, often react strongly to broader crypto market trends, offering retail traders higher-risk, higher-reward opportunities.
During the trading session, Binance Coin (BNB) went up by 3.1 per cent to $643.67, Cardano (ADA) expanded by 2.6 per cent to $0.7445, Solana (SOL) grew by 1.4 per cent to $140.04, and the US Dollar Tether (USDT) appreciated by 0.1 per cent to $1.00.
On the flip side, Ripple (XRP) slumped by 1.7 per cent to $2.41, Litecoin (LTC) went down by 0.7 per cent to $92.67, Ethereum (ETH) depreciated by 0.7 per cent to $2,052.59, and Bitcoin (BTC) fell by 0.3 per cent to $86,704.99, while the US Dollar Coin (USDC) closed 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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