Economy
Naira Closes Stronger on Dollar at NAFEM, P2P, Black Market
By Adedapo Adesanya
The Naira on Friday recorded one of its best performances across the board, including in the Nigerian Autonomous Foreign Exchange Market (NAFEM), on optimism spurred by the Central Bank of Nigeria (CBN) clearing matured forward FX contracts with a number of banks as part of a key step targeted by the government to stabilise the local currency.
In the official market, the value of the local currency rose against the US Dollar on Friday by 2.2 per cent or N17.14 to N776.14/$1 from the previous day’s N793.28/$1.
The FX turnover for the last trading day of the week at the spot market stood at $98.82 million, lower than the $136.11 million achieved a day earlier by 27.4 per cent or $37.29 million.
On Thursday, news broke that the apex bank had begun to clear some of its foreign exchange backlogs.
A source in the know of the matter confirmed to this newspaper that the apex bank had settled some of its FX obligations with Citibank, Stanbic IBTC, and Standard Chartered.
This information strengthened the Nigerian currency in the Peer-to-Peer (P2P) market yesterday, as it firmed up by 8.4 per cent to N892/$1 compared with the previous day’s N974/$1. At intra-day, it was sold at N838/$1.
In the black market, the Naira appreciated against the American currency by N160 to close at N940/$1 compared with the previous day’s value of N1,140/$1.
Also, in the official market, the domestic currency improved its rate against the Pound Sterling by N16.99 to settle at N966.43/£1 versus Thursday’s rate of N983.42/£1 and against the Euro, it gained N19.06 to finish at N839.39/€1 versus N858.45/€1.
The cryptocurrency market ended in the green territory on Friday, with Ethereum (ETH) growing by 1.5 per cent to $1,829.62 and Cardano (ADA) gaining 1.2 per cent to trade at $0.3259.
Further, Ripple (XRP) recorded a 1.0 per cent appreciation to finish at $0.6134, Litecoin (LTC) expanded by 0.2 per cent to $69.38, and Dogecoin (DOGE) increased by 0.1 per cent to $0.068.
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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