Economy
Naira Appreciates to N878.61/$1 at Official Market
By Adedapo Adesanya
The Naira closed stronger against the US Dollar in the official foreign exchange window, the Nigerian Autonomous Foreign Exchange Market (NAFEM), by 5.1 per cent or N46.73 on Tuesday, January 23.
The exchange rate of the Naira to the Dollar in the spot market for the trading day was N878.61/$1 compared with the preceding day’s value of N925.34/$1.
However, the Nigerian Naira plunged against the Pound Sterling in the official market yesterday by N34.60 to close at N1,163.87/£1 versus its previous rate of N1,129.27/£1, and against the Euro, the domestic currency lost N26.36 to sell for N996.05/€1 compared with Monday’s price of N969.69/€1.
Data from the FMDQ Securities Exchange showed that the value of FX transactions for Tuesday was $58.46 million, 20.3 per cent or $14.87 million lower than the $73.33 million reported in the previous day.
In the Peer-to-Peer (P2P) window of the market, the local currency weakened against the American currency by N12 on Tuesday to trade at N1,369/$1, in contrast to the N1,357/$1 it was sold a day earlier.
Also, in the parallel market, the value of the Naira to the US Dollar depreciated on Tuesday by N5 to quote at N1,365/$1 compared with the previous day’s N1,360/$1.
In the cryptocurrency market, Bitcoin has dropped 20 per cent since its peak of $49,000 earlier this month after the United States approved its first spot bitcoin exchange-traded fund (ETF), as investors who had bought in expectation of the approval sold after the confirmation. The world’s largest cryptocurrency lost 0.3 per cent to sell at $39,684.17.
Ethereum (ETH) dropped 3.2 per cent to $2,238.34, Dogecoin (DOGE) declined by 2.7 per cent to $0.0781, Litecoin (LTC) dipped by 2.5 per cent to trade at $65.39, Binance Coin (BNB) slumped by 2.4 per cent to $297.00, Ripple (XRP) shrank by 1.7 per cent to $0.5171, and Cardano (ADA) depreciated by 0.5 per cent to $0.4756.
However, Solana (SOL) rose by 0.5 per cent to $83.74, and the US Dollar Tether (USDT) appreciated by 0.04 per cent to $0.9993, while the US Dollar Coin (USDC) traded flat at $1.00.
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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