Economy
CBN Governor Lambasts Exchange Rate Critics
By Adedapo Adesanya
Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has shot back at critics who argued that the Africa’s largest economy operates a fixed exchange rate system.
Addressing business reporters on Tuesday after the two-day Monetary Policy Committee (MPC) meeting in Abuja, the apex bank chief said, “There is no where you are going to find the hand of CBN intervening in the determination of the exchange rate.”
“It is not the right statement for anyone to say that there is peg on the Naira,” the former Group Managing Director of Zenith Bank Plc said during the interaction with the media.
The CBN chief, speaking on the bank’s intervention at the foreign exchange market, said that the bank would maintain its policy of sustaining the different exchange regimes in the system, which he said has seen flexible performances.
“Investors and exporters windows trade at market. As you know that the price at that market is not fixed, the price varies from N359 sometimes trade upward as high as N364.
“And as more inflow comes into the market, the price trade downwards. To say there is peg in Naira is misleading,” he further stated.
Mr Emefiele, however, said the only way the bank intervened in the market was either to buy dollars if the rate was low at level where the bank felt it wanted to buy.
He added that the apex bank often sells in line with its managed float regime, which it currently run, noting that this does not amount to a peg as critics have claimed.
The CBN Governor also said the decline in the nation’s foreign reserves from $40 billion to $39.3 billion does not call for alarm. According to him, this is not enough to create panic.
“During the period when we had economic crisis in 2015, 2016 and early 2017 where reserves dropped to $23 billion, the country managed it and it survived.
“We do know that there is focus on the fact that crude oil price is not as resilient as it was in 2018.
“We believe that crude oil price today at $63 per barrel, notwithstanding the drop in reserves below 40 dollars should not cause any panic,” 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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