Economy
CBN Restricts Sale of Forex for Importation of Sugar, Wheat
By Aduragbemi Omiyale
The Central Bank of Nigeria (CBN) has expanded the list of food items not qualify for foreign exchange (forex) for importation as any of the regulated FX market segments.
Exchange rates in operation
The central bank operates three key forex windows and they have special rates the Dollar is exchanged for the Naira.
The first is the official exchange rate segment called the interbank. This is where government Dollar transactions are priced and the rate as of Thursday was N379/$1.
The second is the Investors and Exporters (I&E) window and it is for those who bring in items into the country and the rate as of yesterday was N410.50/$1, while the third is the Bureaux De Change (BDC) segment, which caters for foreign travels, medicals, school fees, amongst others and the rate is N410/$1.
Those who do not qualify or are unable to source for forex at these regulated windows usual approach the unregulated market segment fondly called the black market or the parallel market.
At the close of business yesterday, the exchange rate of the Naira to the Dollar at this window was N480/$1.
The expanded FX restriction list
On Friday, the central bank announced that it has added sugar and wheat to its FX restriction list, which already boasts of over 40 food items like tomato/tomato pastes, toothpick, soap and cosmetics, cloth, textiles, tiles, kitchen utensils, milk, maize, amongst others.
In a post on its verified Twitter handle, the CBN quoted its Governor, Mr Godwin Emefiele, as saying that, “Sugar and wheat to go into our FX restriction list. We must work together to produce these items in Nigeria rather than import them.”
The restriction of FX for the importation of sugar and wheat is coming at a time three major players in the sugar industry, Dangote Group, BUA Group and Flour Mills are having disagreements.
The implication of the addition
With the latest development, those who intend to import sugar and wheat into Nigeria will have to source for forex at the black market, which will make the price rise at the market because of the exchange rate.
The option left for them is to key into the backward integration policy of the federal government by investing in the local production of sugar.
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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