Economy
FMDQ Fixed Income, Currency Markets Turnover Hits 29-Month Low
By Adedapo Adesanya
FMDQ Securities Exchange recorded a decline in its total turnover for the first time in 29 months, executing transactions worth N11.8 trillion in fixed income and currency (FIC) markets in May 2020.
This was contained in the company’s latest FIC reports, which showed that the turnover in the month showed a disparity of 29.5 percent equivalent to N4.9 billion when compared to N16.7 trillion realised in the heavy lockdown month of April.
The FMDQ data showed that this was the first month the market was recording such a low turnover in the FIC markets since it recorded N11.7 trillion in January 2018, over two years ago.
Giving a breakdown of the figure, FMDQ noted that Money Market comprising repurchase agreements and unsecured placements transactions and open market operations (OMO) bills drove the total FIX market turnover in May, accounting for 61.3 per cent at N7.2 trillion.
This led the money market transactions to replace foreign exchange (FX) as the highest contributor to FIC markets turnover during the month under review.
On the other hand, the FX market turnover during the period, stood at $7.62 billion (N2.94 trillion), representing a decline of 32.9 percent or $3.74 billion from $11.36 billion or N4.38 trillion posted in April.
Further analysis of the FX market turnover indicated a general decrease in FX market activity by trade type, with Member – Client trades accounting for 55.6 percent ($2.08 billion) of the total month-on-month decrease in FX turnover.
The exchange noted that FX Derivatives accounted for 89.3 percent ($3.34 billion) of the total month-on-month decrease in FX turnover by product type in May 2020.
It also revealed that the turnover for Member – Central Bank of Nigeria (CBN) FX Spot trades increased by 100 percent month-on-month from $160 million in April to $320 million in May.
In May, the Naira depreciated against the United States dollar at the Investors’ and Exporters’ FX Window by 0.31 percent or N1.18 to close at an average of N386.17.
Also, in the parallel market, the naira depreciated against the US dollar by 5.2 percent equivalent to N22.37 to close at an average of N450 during the review period.
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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