Economy
CBN FX Policies Discouraging Foreign Investors—Muda Yusuf
By Ashemiriogwa Emmanuel
The immediate past director-general (DG) of the Lagos Chamber of Commerce Industry (LCCI), Mr Muda Yusuf, has blamed the Central Bank of Nigeria (CBN) for the low influx of foreign investors into the country, especially through foreign direct investments (FDIs).
According to the economic expert, the policies of the apex bank as regards the foreign exchange (FX) cannot attract investors into the country.
Mr Yusuf, while speaking last week on Fact File, a programme anchored by Mr Tayo Somide on RayPower FM, said no investor will want to bring in forex at N410 when it trades at over N500 at the open market.
The former LCCI DG was reacting to the decision of the CBN to stop the sale of FX to Bureaux De Change (BDC) operators on allegations of illicit FX flows.
During the 30-minute programme monitored by Business Post in Lagos, Mr Yusuf said the central bank must make efforts to collapse the forex rates into one to make it attractive to foreign investors.
Last week, the National Bureau of Statistics (NBS) said in the second quarter of 2021, capital importation declined by 54.06 per cent quarter-on-quarter to $875.6 million from $1.9 billion in the first quarter of this year.
On a year-on-year basis, the capital inflows also went down by 32.38 per cent as the inflows in the same period of last year was $1.3 billion.
For Mr Yusuf, this will continue except the CBN FX policies are attractive to foreign investors and efforts must be made to work on the demand side of the market.
According to him, the apex bank should focus more on ‘demand management,’ suggesting that the bank should build more on the supply pressure by reviewing the exchange rate at the Investors & Exporters (I&E) window in order to encourage investors to bring in their foreign currency to the economy.
According to the former DG, “When you are talking about foreign exchange, there are two sides to it; there is the demand pressure, and the supply side.
“We need to do a lot more around issues of supply. When you fix the rate at, say, N410/$1 and expect people to bring in their foreign currency at such a rate, will they bring it, knowing that the open market is around N500/$1? So, in a way, we are blocking the supply of forex to the official system,” he submitted.
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He also warned that the discontinuation of forex sales to BDCs will cause inflation to spike again after easing for the past three months. It moderated to 17.75 per cent in June, according to the NBS.
According to him, inflation will push prices of goods upwards as sellers will begin to change their prices.
While commenting on the announcement made by the CBN Governor, Mr Godwin Emiefele, to launch e-naira in October, Mr Yusuf emphasised the importance of ensuring an appropriate regulatory framework before going down such a route.
He compared the difficulty in monitoring the activities of digital currencies in other countries and reiterated the need to ensure that the introduction of e-naira does not come as a threat to the country’s financial system.
“There is no system that cannot be abused and sometimes, some of these digital currencies can be difficult to regulate.
“I think the CBN is having a second thought about it. But what is important is that we have an effective and robust regulatory framework and that the introduction of the e-naira does create room for illicit transactions,” he said.
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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