Economy
Fresh Panic Demand for Dollars Crashes Naira to N800/$1
By Dipo Olowookere
The exchange rate of the Naira to the American Dollar at the parallel market is beginning to worsen again after the initial ease in pressure.
Business Post reports that the Nigerian legal tender was traded with its United States counterpart in the unauthorised segment of the foreign exchange (FX) market on Tuesday afternoon at N800/$1 in Lagos, in contrast to N755/$1 it was transacted on Monday, indicating a decline of N45 or 5.96 per cent.
There was jubilation last week when the Naira gained strength against the greenback, but this has been short-lived, following a fresh panic demand for Dollars by Nigerians and others.
“You see, the gains recorded by the Naira last week were triggered by fake news, I believe was planted by the government.
“It was speculated that the American government was planning to render Dollar bills printed below 2021 as invalid, and this forced those hoarding the Dollars at home to take them to the black market.
“This improved the supply of forex in the market, but when people realized that the information was false, the Naira began to suffer. This is the reason for the gradual decline in the value of the Naira to the Dollar,” a financial analyst based in Lagos, Mr Sakiru Adediran, told Business Post.
“Remember I told you recently that the appreciation the Naira was recording last week would not last long. Is it not happening now?” a currency trader in the Egbeda area of Lagos, Alhaji Isa, asked this reporter.
On October 26, 2022, the Central Bank of Nigeria (CBN) announced that it was redesigning the Naira notes. This caused hoarders of the local currency to demand greenbacks to boycott the financial system’s scrutiny. This pressure on the Naira weakened its value in the parallel market to more than N900/$1.
But last week, after information went out that Dollars printed below 2021 would longer be acceptable for financial transactions, the local currency appreciated.
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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