Economy
CBN Sells $125.2m to 46 Authorised FX Dealers to Stabilise Naira
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) has announced the sale of about $125.2 million to 46 authorised foreign exchange (FX) dealers in its determination to promote stability and reduce the volatility in the forex market.
A statement signed by the Bank’s Director in charge of Financial Markets, Mrs Omolara Duke, disclosed that of the total sale, $67.5 Million was allotted to 27 dealers, and $2.5 million was bought from one authorised dealer on July 10, 2024.
The range of the bid for the July 10, 2024, sales was N1,480.00 per Dollar and N1,500.00 per Dollar while the value date for the payments, going by the settlement cycle of two days, is July 12, 2024.
Similarly, on July 11, 2024, the sum of $55.171 million was sold to 19 authorised dealers at N1,540.00/$1, and no FX was purchased. The value date for the payments of the spot sale is July 15, 2024.
The apex bank urged all authorised dealers to ensure that FX purchases from the CBN are used exclusively for trade-backed transactions, which should be reported within 72 hours.
While reiterating that the CBN supplies forex to the market to improve liquidity through spot sales to authorised dealers using two-way quotes, it assured to continue to ensure stability in the ecosystem.
This latest development comes after the widely reported increase in Nigeria’s external reserves to $35.05 billion as of July 8, 2024.
According to CBN’s data on external reserves, as of May 30 2023, the reserves were $35.09 billion, about 14 days before the introduction of the forex unification policy in June 2023.
However, when the CBN announced the FX unification policy, the external reserves dropped to $34.66 billion. In the months that followed till December 2023, the reserves fluctuated within the $33 billion range.
This year, the reserves plunged to a low of $32.11 billion on April 19, 2024, according to the data.
Business Post reports that the Naira appreciated to N1,554.65 per Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEX) as of July 11 with a significant increase in turnover.
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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