Economy
Emefiele Reveals When CBN Will Devalue Naira
By Adedapo Adesanya
Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has said the likelihood of the apex bank devaluing the Naira is on the happenstance that the nation’s external reserves go below $30 billion and the international price of crude oil drops to $45 per barrel.
Mr Emefiele, according to a CBN publication, made this disclosure while speaking with potential investors in London, United Kingdom, on Wednesday.
The CBN chief was confident that the reserves were unlikely to drop to $30 billion due to the various policies put in place by the federal government as part of its plans to diversify the Nigerian economy.
Due largely to the tension between the United States and China, oil demand has been affected, leading to lower prices. However, the CBN boss noted that oil prices would need to weaken to 40 percent to create a scenario that would see that the bank not being able to maintain the stability of exchange rates across various segments.
As at the time of this report by Business Post, it was observed that price of the Brent Crude, under which Nigeria’s crude is categorized, was trading close to $64 per barrel, higher than the $60 and $57 benchmark in the 2019 and 2020 budgets respectively.
On the other hand, the external reserves, currently at $39 billion, would need to shed about 30 percent for the government to put in place any corrective measure and this was not the case.
Mr Emefiele’s interactions with investors came after signs of a growing backlog of foreign exchange demand. The central bank recorded a less foreign exchange inflows than outflows in the third quarter of 2019. This would be the third time such would occur in almost four years since the foreign exchange crisis of 2016 and the first time in 2019.
Also, net forex outflow in the third quarter was $3.6 billion, being the difference between inflows of $11.7 billion against outflows of $15.3 billion. This implies that net forex outflows may put pressure on the exchange rate which the CBN, through its interventions, has protected at all costs for more than two years.
Lower dollar inflows reduce the CBN’s capability in defending the Naira against any depreciation as it affects the country’s external reserves.
The CBN’s gross external reserves are already on the decline, after shrinking 12 percent from $45 billion at the start of the year.
Foreign investors have been particularly worried by the trend which surely rekindles bitter memories from 2016 when the foreign exchange backlog swelled to as much as $7 billion as investors could not take out their money.
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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