Economy
Nigeria’s Foreign Reserves Jump 0.60% in One Week to $33.6bn
By Ashemiriogwa Emmanuel
The foreign reserves of Nigeria increased by 0.60 per cent or about $200 million in one week to $33.6 billion from $33.4 billion in the previous week.
Business Post reports that the weekly growth came as the country’s Debt Management Office (DMO) is planning to sell $6.2 billion Eurobonds to offshore investors in the coming weeks.
When this transaction is completed, the external reserves is expected to hit the $40.0 billion market, which should support the nation’s exchange rate.
Last week, the International Monetary Fund (IMF) allocated $3.35 billion Special Drawing Rights (SDRs) to Nigeria as part of efforts to boost liquidity as the economy faces an unprecedented crisis.
Data obtained from the Central Bank of Nigeria (CBN) showed that as at Thursday, August 5, 2021, the reserves stood at $33.6 billion in contrast to $33.4 billion it closed on Thursday, July 29, 2021.
For a while, the nation’s reserves were depleting as a result of a decline in the price of crude oil, which is the country’s main source of forex earnings.
However, in recent weeks, the account has been rising as the price of the commodity has gradually stabilised to about $70 per barrel.
Since the beginning of this month, the amount in the foreign reserves has increased by $163.2 million to $33,565,859,015 from $33,402,616,892 and in July, the reserves rose by $79.1 million to $33,402,616,892 from 33,323,503,869.
It is expected that this month, the amount in the account would significantly rise as the world economy is gradually getting back to normal. though the threats like the COVID-19 pandemic and others are still much around.
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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