Economy

Naira Depreciates at Investors, Interbank Windows

Published

6 years ago

29/01/2020

By Adedapo Adesanya

The Naira depreciated at both the Investors and Exporters (I&E) and Interbank segments of the foreign exchange market on Tuesday, January 28, 2020.

At the I&E window, the local currency dropped for the second straight trading session by 38 Kobo or 0.11 percent against the US Dollar to trade at N363.33/$1 in contrast to N362.94/$1 it traded on Monday.

This followed the pressure on the local currency as the demand for forex increased during the session, resulting in higher turnover at the close of transactions.

Trades valued at $586.22 million were carried out at the market segment yesterday in contrast to $78.01 million recorded on Monday, indicating a rise by 692 percent or $512.21 million.

At the interbank segment of the Central Bank of Nigeria (CBN), the domestic currency also faced a decline against the greenback as its value reduced by 5 kobo equivalent to 0.02 percent to N307/$1 from 306.95/$1.

The Naira’s performance at the parallel market against major listed currencies saw no changes as it closed flat against the American Dollar, Pound Sterling and the Euro.

The Naira closed against the USD at N360/$1, remained unchanged against the Euro on Tuesday at N398/€1 and stayed static against British Pound Sterling at N476/£1.

At the Bureaux De Change (BDCs) segment in Lagos, the Naira lost 30 kobo at Tuesday’s session to close at N359.30 to a dollar compared to N359/$1 it traded on Monday. However, the domestic currency appreciated by N1.50 against the pound to close at N475.50k/£1 from N477/£1 while it closed flat against the Euro at N395/€1.

There was no change to the Naira/USD exchange rate at the Port Harcourt BDC market as it closed at N359/$1, just as it closed flat against the pound and Euro at N468/£1 and N398/€1 respectively.

In Abuja, the local currency exchange rate gained 50 kobo against the greenback to trade at N359/$1 after closing at N359.50k/$1, while the Naira gained N2 against the Pound to close at N476/£1 from N478/£1 and dropped N1 on the Euro as it ended Tuesday’s session at N399/€1 compared with N398/€1 recorded on Monday.

Meanwhile, in Kano, the Naira gained 50 kobo against the American currency to sell at N358.50/$1 in contrast to N359 to a dollar it was exchanged the previous day. It recorded a N1 gain against the British pound to close at N475/£1 from N476 on Monday but shed N2 on the Euro to close at N400/£1 compared to N398/£1 recorded previously.

Economy

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

Published

8 hours ago

08/06/2026

Aduragbemi Omiyale

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.

Economy

Fidson Lists Additional 600 million Shares on Stock Exchange

Published

9 hours ago

08/06/2026

Aduragbemi Omiyale

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.”

Economy

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

Published

16 hours ago

08/06/2026

Modupe Gbadeyanka

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.