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Economy

Naira Further Depreciates at Unregulated FX Window

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Unregulated FX Window

By Adedapo Adesanya

The Naira depreciated against a basket of foreign currencies, the US Dollar, Pound Sterling and Euro, at the unregulated segment of the foreign exchange (FX) market on Tuesday, May 25.

At the window, which caters for demands not met by government-regulated channels, the local currency further lost its value against the US currency by N1 as it sold for N487/$1 as against N486/$1 it quoted on Monday.

Following the same pattern, the Nigerian currency declined against the Pound Sterling by N1 at the black market to trade at N687/£1 compared to N686/£1 it was sold at the previous session.

In the same vein, the local went down against the Euro by N3 yesterday to sell at N590/€1 in contrast to N587/€1 it traded previously.

Also, at the Investors and Exporters (I&E) window of the FX market on Tuesday, the Naira depreciated against the American currency by 31 kobo or 0.08 per cent to wrap up the day at N411.56/$1 as against N411.25/$1 of the day before.

The value of the domestic currency depreciated as the segment despite a decline in the turnover yesterday by $81.36 million or 38.4 per cent.

Data obtained by Business Post showed that trades valued at $130.50 million were recorded on Tuesday in contrast to the $211.86 million achieved on Monday.

The supply shortage may have been responsible for the poor performance of the local currency at the market window at the trading session.

Meanwhile, at the cryptocurrency market, it was largely bearish as only two of the seven digital coins tracked by this newspaper closed bullish yesterday.

The Dash (DASH) depreciated by 10.9 per cent to sell at N92,607.01, Ripple (XRP) lost 8.7 per cent to trade at N492.99, Litecoin (LTC) went down by 8.4 per cent to trade at N87,006.00, Tron (TRX) declined by 2.8 per cent to sell at N37.41, while Ethereum (ETH) dropped 0.8 per cent to sell at N1,277,277.00.

On the gainers’ wing, the Bitcoin (BTC) appreciated by 2.5 per cent to trade at N19,483,482.57, the US Dollar Tether (USDT) gained 0.2 per cent to quote at N507.00.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Economy

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

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capital market operators

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.

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Economy

Fidson Lists Additional 600 million Shares on Stock Exchange

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fidson

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.”

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Economy

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

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FG contractors protest

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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