Economy
Naira Falls Against US Dollar at P2P, Black Market, Rises at I&E
By Adedapo Adesanya
The Naira depreciated against the United States Dollar at the Peer-2-Peer (P2P) and the black parallel market segments of the foreign exchange (FX) market on Wednesday, March 15, but closed stronger at the Investors and Exporters (I&E) window of the same market.
In the P2P wing, the value of the local currency fell against the greenback by N2 to sell at N755/$1 compared with N753/$1 of the previous session.
In the parallel market, the domestic currency depreciated against the American currency yesterday by N2 to close at N747/$1, in contrast to Tuesday’s closing price of N745/$1.
The local currency, on its part, appreciated against the Dollar by 33 Kobo or 0.07 per cent in the midweek session to settle at N461.09/$1 compared with Tuesday’s exchange rate of N461.42/$1.
This came as daily turnover rose to $142.25 million from the $113.44 million achieved in the previous trading session, indicating an increase in the FX trades by 25.40 per cent or $28.81 million.
In the interbank segment, the Naira was flat against the British Pound Sterling and the Euro during the trading session at N561.67/£1 and N494.65/€1, respectively.
In the cryptocurrency market, the majority of the currencies traded downward after the previous day’s gains as corrections started, with the market reacting positively following the collapse of Signature Bank and Silicon Valley Bank just as slowing inflation gave some level of boost that the US central bank may not hike interest rate next week.
Bitcoin (BTC) slumped 1.7 per cent to sell at $24,473.12, Ethereum (ETH) depreciated by 3.2 per cent to $1,656.77, Litecoin (LTC) fell by 8.5 per cent to trade at $77.74, Solana (SOL) shed 8.1 per cent to $19.43, and Dogecoin (DOGE) lost 6.6 per cent to quote at $0.0705.
Further, Cardano (ADA) declined by 5.8 per cent to trade at $0.3252, Ripple (XRP) recorded a 3.3 per cent loss to quote at $0.3629, and Binance Coin (BNB) fell by 0.6 per cent to sell $309.45, while the United States Tether (USDT) and Binance USD (BUSD) remained 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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