Economy
Naira Sheds N7 at Black Market to Sell at N437/$1
By Adedapo Adesanya
After appreciating by as much as N20 to N430/$1 this week, the Naira fell by N7 against the American currency at the black market segment of the foreign exchange market on Wednesday, May 6 to trade at N437/$1.
At the same segment, the local currency appreciated by N5 against the British pound sterling to close at N520/£1 in contrast to N525/£1. In the same vein, the Naira depreciated by N15 against the Euro to close at N450/£1 compared with N435/£1 it was sold at the previous session.
At the Investors and Exporters (I&E) segment of the market, the domestic currency appreciated by 0.23 percent or N2.80 against the greenback to close at N384.50/$1 as against the N387.30/$1 it previously quoted.
The Nigerian Naira was fortified against the United States Dollar at the segment at the midweek session despite a rise in the demand for forex.
According to data gathered by Business Post from the FMDQ Exchange showed that transactions worth $19.26 million were carried out by investors, 3.7 percent or $680,000 higher than $18.58 million exchanged on Tuesday.
At the interbank segment of the forex market, the Central Bank of Nigeria (CBN) sold the Dollar to banks at N361, the same rate of the previous session.
Meanwhile, at the Bureaux De Change (BDC) window of the forex market, despite the resumption of sales of Dollar to BDC operators by the CBN, the Naira depreciated against the American currency yesterday by N5 in Lagos.
The domestic currency traded against the Dollar at N440/$1 compared with N435/$1, while against the British Pound, the domestic currency lost N5 to close at N525/£1 compared with N520/£1 and against the Euro, it gained N2 to trade at N460/€1 in contrast to N462/€1 of the previous session.
In Abuja, the Naira closed flat against the Dollar at N457/$1. It also traded flat against the Pound and the Euro at N498/£1 and N440/€1 respectively.
At the Port Harcourt BDC market, the Naira closed flat against the greenback at N457/$1 and it further remained unchanged against the Pound and the Euro at the same market at N508/£1 and N460/€1 respectively.
In Kano, the local currency exchange rate with the Dollar also closed flat at N459/$1. It was also static against the Pound and Euro at N498/£1, and N440/€1 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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