Economy
Naira Under Pressure, Depreciates to N411.25/$1
By Adedapo Adesanya
Pressure mounted on the Naira at the Investors and Exporters (I&E) window of the foreign exchange (FX) market on Friday.
This weakened the domestic currency against the United States Dollar at the market segment by 55 kobo or 0.13 per cent.
Business Post reports that the value of the local currency depreciated to N411.25/$1 in contrast to N410.70/$1 it traded on Thursday.
According to data from FMDQ Securities Exchange, the demand for forex increased yesterday by 128.2 per cent or $78.23 million as transactions worth $139.23 million were executed compared with the $61.0 million achieved at the preceding session.
The inability of forex traders to meet the demands of their customers contributed to the decline the Nigerian currency suffered at the trading session.
But at the interbank segment of the market, the Naira maintained its previous rate against the American currency by closing at N410.16/$1 on Friday.
Equally, at the unregulated segment of the market, the local currency traded flat against the trio of the US Dollar, the Pound Sterling and the Euro.
Against the greenback, the Naira closed the week at N503/$1. It traded at N710/£1 against the British currency and was sold against the Euro at N595/€1.
Meanwhile, at the cryptocurrency market, the bears maintained their dominance as five of the seven digital coins tracked by this newspaper on Quidax, a platform for trading and tracking real-time transactions, closed in red.
The heaviest loss was recorded by Ethereum (ETH), which went down by 4.3 per cent to trade at N1,058,346.00, Dash (DASH) depreciated by 3.6 per cent to sell at N72,194.00, Tron (TRX) lost 1.8 per cent to trade at N32.28, Bitcoin (BTC) declined by 0.1 per cent to sell at N17,700,242.50, while Ripple (XRP) dropped 0.1 per cent to quote at N321.01.
On the bullish side, Litecoin (LTC) made a 3.6 per cent growth to sell at 74,609.00, while the US Dollar Tether (USDT) moved up by 0.1 per cent to sell for N516.34 at the session.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn