Economy
Naira Depreciates at Official Market on Persistent FX Liquidity Worries
By Adedapo Adesanya
The Naira depreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, November 17 amid a continued foreign exchange (FX) liquidity squeeze.
In the official segment of the market, the domestic currency lost N22.15 or 2.71 per cent against the greenback to settle at N841.14/$1 compared with Wednesday’s exchange rate of N818.99/$1.
It was observed that some customers in the spot market were ready to exchange the Naira to a Dollar at N1.140/$1 during the trading session, while some offered it at N600/$1.
Data obtained by Business Post showed that the supply of forex into the market window depreciated by $45.86 million or 26.4 per cent to $127.65 million from the preceding session’s $173.53 million.
Mr Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), who took office in September, has been silent about where he wants to see the trading band for the naira or when further liquidity might be injected into the market.
The CBN has not intervened in the official market since October, which has helped accelerate the naira’s slide, according to traders.
In the Peer-2-Peer (P2P) window, the local currency also depreciated against its American pair by N1 to settle at N1,114/$1 compared with the previous day’s N1,113/$1.
But in the parallel market, the Nigerian currency appreciated against the US Dollar yesterday by N5 to close at N1,130/$1, in contrast to the midweek session rate of N1,135/$1.
This newspaper reports that the Naira gained N18.10 against the Pound Sterling to sell at N1,029.74/£1 versus N1,047.84/£1 and improved against the Euro by N12.82 to close at N898.45/€1 versus N911.27/€1.
In the cryptocurrency market, Bitcoin (BTC) and a host of other benchmarked currencies traded down as a result of BlackRock Ethereum ETF filing, giving up some gains in the last 24 hours.
While the filing spurred fresh positive sentiment in the crypto market, traders quickly moved to close their positions, with BTC losing about 3.9 per cent to close at $35,995.69.
Solana (SOL) slid by 5.9 per cent to sell at $62.28, Ethereum (ETH) went down by 4.3 per cent to $1,962.88, Binance Coin (BNB) dropped 3.9 per cent to sell for $242.57, Ripple (XRP) shrank by 3.9 per cent to trade at $0.6189, Litecoin (LTC) declined by 3.2 per cent to $71.13, and Cardano (ADA) lost 1.5 per cent to finish at $0.3702, while Dogecoin (DOGE) gained 6.2 per cent to sell at $0.08, with the US Dollar Tether (USDT) and Binance USD (BUSD) remaining unchanged 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.
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