Economy
Naira Depreciates to N307/$1 at Interbank Tuesday
By Adedapo Adesanya
It was a bad trading day for the Nigerian Naira at both the interbank and Investors and Exporters (I&E) segments of the foreign exchange (forex) market on Tuesday, November 26, 2019.
The local currency depreciated against the United States Dollar at the two segments of the market on a day the Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, allayed fears of Nigerians on the declining external reserves of the country.
The reserves recently dropped below $40 billion and there have been worries that the country might soon go into recession like it did in 2016 in the first term of President Muhammadu Buhari.
But yesterday, the apex bank chief, while addressing newsmen in Abuja, said Nigerians should not raise concerns on the declining reserves, assuring them that “there was no cause for alarm.”
Business Post reports that, however, at the close of transactions on Tuesday, the Naira suffered a marginal loss against the greenback at the official CBN exchange window. The local currency depreciated by 5 Kobo or 0.02 percent to close at N307 per Dollar after trading at N306.95/$1 since last Monday.
In the same vein, the domestic currency declined against the American currency by 3 Kobo or 0.01 percent at the investors yesterday to trade at N362.61/$1. The local currency had appreciated to N362.58 per dollar at the same window on Monday before it fell yesterday.
According to data obtained from FMDQ, the market turnover yesterday at the I&E segment increased by 65 percent or $69.45 million to $176.28 million from the $106.83 million recorded at the previous session.
At another segment of the market on Tuesday, the parallel market to be precise, the Naira closed flat against at the greenback N360/$1, the same rate it had traded for a long time.
But when paired with the British Pound Sterling, the domestic currency appreciated by N1 to quote at N465/£1. The Nigerian currency had depreciated against the Pound Sterling to N466/£1 at Monday’s trading session.
However, the Naira lost N1 against the Euro at the black market yesterday, trading at N396/€1 in contrast to N395/€1 it was exchanged at the previous trading session.
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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