Economy
Naira Closes Stronger at Official Market, Weakens at P2P, Black Market
By Adedapo Adesanya
The Naira closed on a strong foot against the United States Dollar on Friday, gaining 4.3 per cent or N33.43 at the Investors and Exporters (I&E) segment of the foreign exchange market to sell at N743.07 versus the N776.50/$1 it closed on Thursday.
The Nigerian currency was strengthened at the spot market despite a significant rise in forex turnover during the last trading session of the week.
Data from FMDQ Securities Exchange showed that trades worth $121.08 million were executed yesterday compared with the $44.43 million transacted a day earlier, indicating an increase of 172.5 per cent or $76.65 million.
However, in the Peer-to-Peer (P2P) forex window, the value of the Nigerian currency closed downward as it lost N2 against the Dollar on Friday to sell at N882/$1 versus Thursday’s exchange rate of N880/$1.
Also, in the parallel market, the domestic currency lost N9 against the greenback to quote at N890/$1, in contrast to the preceding day’s value of N881/$1.
In the official market, the local currency appreciated against the Pound Sterling yesterday by N15.57 to wrap at N958.99/£1 compared with the previous day’s N974.56/£1 and improved its value against the Euro by N11.57 to trade at N827.70/€1 versus Thursday’s rate of N839.27/€1.
A look at the cryptocurrency market showed that the ecosystem gave up its gains on Friday, with Bitcoin (BTC) earlier falling into the $28,900 level in the afternoon before recovering something.
However, it still lost 0.5 per cent to sell at $29,042.48, Ethereum (ETH) weakened by 0.3 per cent to $1,829.27, Ripple (XRP) shrank by 6.7 per cent to $0.6208, Solana (SOL) depreciated by 1.3 per cent to sell at $22.69, and Litecoin (LTC) fell by 1.1 per cent to $82.07.
Further, Cardano (ADA) recorded a 0.8 per cent loss to $0.2913, Binance Coin (BNB) declined by 0.5 per cent to $240.70, while Dogecoin (DOGE) appreciated by 1.0 per cent to $0.0749, with Binance USD (BUSD) and the US Dollar Tether (USDT) trading flat at $1.00 apiece.
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.
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