Economy
Forex Traders Lament as Naira Strengthens to N805/$1 at Parallel Market
By Dipo Olowookere
Some foreign exchange (FX) traders in Lagos are biting their fingers hard in lamentation over the strengthening of the Naira against the United States Dollar in the parallel market.
Business Post reports that on Tuesday, the Naira was exchanged with the American Dollar at the black market at N805/$1 compared with the N870/$1 it was transacted on Monday, indicating an appreciation of N65 in less than a day.
This situation is causing some forex traders on the streets to stay away from buying the Dollars at the moment, as they do not know if the US currency will fall further in the coming days.
The Naira weakened to almost N900/$1 in the unofficial FX market last week as a result of a significant rush for the greenbacks.
This was triggered by the decision of the Central Bank of Nigeria (CBN) to change the looks of the N200, N500, and N1,000 notes by next month. The apex bank further said the old notes would no longer be accepted from January 31, 2023.
This announcement by the CBN forced those who had stashed the Naira notes at home to bring them out, and the easiest way to change them was the black market. They started to buy the Dollars at exorbitant rates, putting pressure on the domestic currency.
But over the weekend, the pressure eased on the Naira and today, the Naira seems to have been left off the hook, moving closer to the N700/$1 region it was before the announcement two weeks ago.
“My brother, I don’t understand what is going on again. The Dollar seems to be a bad business at the moment. In fact, most of us now prefer to deal with gold trading because of these uncertainties,” one of the FX sellers, who simply identified himself as Adamu, told Business Post.
But for Alhaji Isa, “This is just for a meantime. The Naira will still remain high before the end of this year. I can also authoritatively tell you that by January 2023, the Naira will go through this pressure again.”
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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