Economy
Naira Trades Weaker at N460/$1 at Black Market
By Adedapo Adesanya
The Naira finished weaker against the US Dollar at the parallel market on Monday, October 12 by N3 or 0.66 per cent, Business Post reports.
During the trading session, the value of the Nigerian currency against its American counterpart depreciated to N460/$1 from the previous session’s N457/$1.
But at the same segment of the foreign exchange (forex) market yesterday, the value of the domestic currency over the British Pound Sterling was strengthened by N5, closing at N590/£1 compared with N595/£1 of the previous day and lost N1 on the Euro to settle at N538/€1 as against the preceding session’s N537/€1.
At another segment of the market, the Investors & Exporters (I&E), the local currency depreciated against the greenback by 17 kobo or 0.04 per cent to end the day at N386/$1 versus N385.83/$1 it was sold previously.
This weakening of the value of the Nigerian Naira at the market segment came despite a decline in the day’s turnover as a transactions worth $102.35 million were recorded on the first trading session of the week in contrast to the $134.83 million recorded at the preceding trading day, indicating a decrease in the day’s turnover by 31.7 per cent or $32.48 million.
At the interbank segment of the market, it was observed that the exchanage of the Naira to the Dollar remained unchanged as the Central Bank of Nigeria (CBN) auctioned FX to commercial banks yesterday at N379/$1.
The stability withnessed at the interbank window yesterday spread to the Bureaux De Change (BDC) segment, where the exchange rate of the Naira to the Dollar also closed flat at N386/$1 on Monday.
No much pressure is expected on the local currency this week as the CBN is expected to continue to maintain the supply of forex into the market to keep the liquidity smooth.
However, there are fears over the recent gradual decline in the country’s external reserves, though the apex bank has allayed fears of Nigerians, maintaining that with the recent policies put in place, Nigeria was capable of meeting the demands of customers.
Data obtained by Business Post from the central bank showed that as at last Thursday, the amount in the FX purse stood at $35.725 billion compared with $35.732 billion the previous day.
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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