The rally happened as the US economy added 175,000 jobs in April, less than the analyst consensus of 245,000 and the previous month’s 315,000, according to the government’s Nonfarm Payrolls report. It also showed the unemployment rate inching higher to 3.9 per cent from 3.8 per cent in March.
Economy
Naira Appreciates to N1,400/$1 at Official Market
By Adedapo Adesanya
The value of the Naira rose by 0.2 per cent or N2.27 on the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday after days of consistent weakening.
Data obtained by Business Post from the FMDQ Securities Exchange showed that the official market exchange rate finished at N1,400.40/$1, in contrast to the preceding day’s value of N1,402.67/$1.
However, the Nigerian currency depreciated against the Pound Sterling in the spot market yesterday by N135.16 to settle at N1,802.17/£1 versus the preceding day’s N1,667.01/£1 and against the Euro, it lost N115.44 to trade at N1,541.15/€1 versus N1,425.71/€1.
The value of FX transactions at NAFEM during the session decreased by 13.3 per cent or $30.96 million to $201.88 million from $232.84 million.
At the parallel market yesterday, the domestic currency recorded a loss of N20 against the US Dollar, as it quoted at N1,410/$1 compared with the N1,390/$1 it was traded a day earlier.
Market analysts have pointed out that recent policy moves by the Central Bank of Nigeria (CBN) that yielded positive results have begun to lose momentum.
Minutes of the last meeting of the Monetary Policy Committee (MPC) of the CBN showed that the committee, spearheaded by the CBN Governor, Mr Yemi Cardoso, has reiterated its position on several occasions to focus on its core objectives.
Ms Emem Usoro, a member of the MPC, urged fiscal authorities to collaborate closely with monetary policymakers to address inflationary pressures.
This includes implementing measures to tackle structural factors to complement monetary efforts in anchoring inflation expectations and promoting overall price stability in the economy.
“From the foregoing, it is obvious that the continuous rise in inflation is detrimental to the broad recovery of the economy,” she argued.
Meanwhile, cryptocurrencies surged on Friday as Bitcoin (BTC) grew by over 6 per cent to near $63,000 following a cooler-than-expected April job report in the US that eased concerns about higher interest rates while Ethereum (ETH) reclaimed the $3,000 level following a 4 per cent rise.
Dogecoin (DOGE) gained 13.3 per cent during the day to sell at $0.1508, Binance Coin (BNB) went up by 3.9 per cent to $585.35, Solana (SOL) jumped by 3.8 per cent to $144.29, Cardano (ADA) increased by 3.0 per cent to $0.4663, Litecoin (LTC) expanded by 2.4 per cent to $81.83, and Ripple (XRP) increased by 1.7 per cent to $0.5294, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn