Economy
FX Liquidity Crisis Crashes Naira to N467/$1 at Black Market
By Adedapo Adesanya
The renewed pressure faced by the Naira showed no sign of easing anytime soon at the black market on Wednesday, September 23.
At the segment of the foreign exchange (FX) market yesterday, the Naira depreciated against the Dollar by N2 to close at N467/$1 compared with N465/$1 it traded on Tuesday as a result in the shortage of forex to meet the demands of customers.
At the same market window, the domestic currency, however, closed flat against the Pound at N600/£1 but appreciated by N1 on the Euro to N545/€1 from N546/€1.
At another market segment, the Bureaux De Change (BDC), the Nigerian currency lost N2 against the greenback in Lagos to trade at N465/$1 versus N463/$1, but appreciated by N3 against the British Pound Sterling to sell at N600/£1 versus N603/£1 and remained unchanged against the Euro at N547/€1.
In Abuja, according to data obtained by Business Post from the Association of Bureaux De Change Operators of Nigeria (ABCON), the local currency closed flat against the American currency at N466/$1. It was also flat against the Pound and Euro on Wednesday at N596/£1 and N547/€1 respectively.
At the Port Harcourt BDC market, the value of the domestic currency against the Dollar, Pound and Euro remained unchanged at the close of the midweek trading session at N464/$1, N595/£1 and N542/€1 respectively.
It was a similar situation at the Kano BDC market, where the Naira traded flat against the Dollar, Pound and Euro at N464/$1, N598/£1 and N548/€1 respectively.
But at the Investors and Exporters (I&E) window of the forex market, the Nigerian currency depreciated by 20 kobo or 0.05 per cent against its United States counterpart to N386/$1 from N385.80/$1.
This was caused by the 135.3 per cent or $39.8 million rise in the demand for FX at the segment to $69.22 million from $29.42 million the previous day.
However, at the interbank segment of the market on Wednesday, the exchange rate of the Naira to the Dollar remained static at N379/$1.
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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