Economy

Naira Falls to N584/$1 at P2P, N416.83/$1 at I&E

Published

4 years ago

06/04/2022

By Adedapo Adesanya

The Naira returned to the downside at the Peer-2-Peer (P2P) window of the foreign exchange market with a loss of 0.17 per cent or N1 against the United States Dollar to close at N584/$1 on Tuesday, April 5 compared with N583/$1 it traded on Monday.

Also, at the Investors and Exporters (I&E) window of the forex market, the Naira also depreciated against the American currency by 0.05 per cent or 20 kobo to sell at N416.83/$1 compared with the previous day’s rate of N416.33/$1, according to data obtained from FMDQ Securities Exchange.

But the local currency traded flat against the British Pound Sterling and the Euro at the spot market yesterday, closing at N545.41/£1 and N458.09/€1 respectively.

DOGE Surges as Musk Joins Twitter Board

As for the digital currency market, it was not a good day as the bears dominated the landscape, with eight of the 10 coins monitored by Business Post across several trading platforms depreciating in value.

One of the two coins that appreciated yesterday, Dogecoin (DOGE), recorded growth after one of its major proponents and the world’s richest man, Mr Elon Musk, was appointed as the newest member of Twitter’s board of directors.

As part of the deal to join the board, Mr Musk has agreed to not bring his stake any higher than 14.9 per cent from the current 9.2 per cent. The surge comes as speculations emerge that Mr Musk could push for DOGE payments to somehow be integrated into the social media company’s platform.

At the time of this report, it was selling for N99.63 after appreciating by 14.3 per cent.

It was followed by Binance Coin (BNB), which gained 0.2 per cent to trade at N186,182.73.

On the losers’ side, Solana (SOL) led with a decline of 3.1 per cent to sell at N76,696.07, Dash (DASH) retreated by 3.0 per cent to N75,314.53, Ethereum (ETH) dropped 2.4 per cent to sell at N1,991,910, Cardano (ADA) recorded a 2.3 per cent loss to trade at N702.97, Bitcoin (BTC) fell by 1.8 per cent to quote at N27,788,247.00, Ripple (XRP) slid by 0.9 per cent to N486.62, Litecoin (LTC) dropped 0.4 per cent to N73,859.30, while the United States Dollar Tether (USDT) went down by 0.2 per cent to close at N591.95.

Economy

SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs

Published

4 hours ago

08/06/2026

Aduragbemi Omiyale

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

Published

4 hours ago

08/06/2026

Aduragbemi Omiyale

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

Published

12 hours ago

08/06/2026

Modupe Gbadeyanka

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.