Economy
Naira Closes Stronger Against Dollar at I&E
By Adedapo Adesanya
The Naira closed stronger, by N1 equivalent to 0.26 per cent, against the US Dollar at the Investors and Exporters (I&E) segment of the foreign exchange market on Monday, closing at N386/$1 in contrast to N387/$1 it ended at the segment last Friday.
At the close of the session, transactions valued at $36.28 million were recorded compared with last session’s $25.17 million, indicating a day-on-day increase by 41.3 per cent or $11.11 million.
A look at the performance of the domestic currency yesterday showed that the Nigerian Naira gained N1 on the greenback at the Bureaux De Change (BDCs) segment in Lagos to close at N466/$1 compared with N467/$1 it traded previously.
It, however, depreciated by N5 against the Pound to close at N569/£1 versus N564/£1, while the local currency lost N11 against the Euro to close at N515/€1 in contrast to N504/€1 it was traded last Friday.
In Port Harcourt, the local currency weakened against the US Dollar by N1.50 to N464.50/$1 from N463/$1 and lost N4 against the Pound to close at N562/£1 versus last day’s N558/£1, and fell by N3.50 on the Euro at N512.50/€1 versus N509/€1.
The Naira/USD exchange rate went in favour of the Dollar at the Abuja BDC market after the local currency lost N2 to close at N465/$1 compared with the previous N463/$1 and depreciated by N2 on the Pound to N563/£1 from N561/£1, and on the Euro, it depreciated by N9 to sell at N513/€1 versus N504/€1.
At the Kano BDC market, the local currency closed the session weaker by N5 to N465/$1 as against the preceding session’s N460/$1 and dropped N20 to N560/£1 from N540/£1, losing as much as N17 on the Euro to N507/€1 from last Friday’s N490/€1.
The official naira/dollar exchange rate at the interbank window remained at N381/$1 at the close of trading on Monday.
At the parallel market, the Nigerian currency remained stable against the American currency and the Pound at the yesterday at N465/$1 and N565/£1 respectively but lost N4 against the Euro at N510/€1 versus N506/€1.
Economy
SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs
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.
Economy
Fidson Lists Additional 600 million Shares on Stock Exchange
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.”
Economy
FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure
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
