Economy
Naira Firms to N1,465.68/$1 at Official Market, N1,480/$1 at Black Market
By Adedapo Adesanya
The Naira appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Tuesday, May 21, extending gains from the previous session following a 0.23 per cent or N3.31 improvement to close at N1,465.68/$1 compared with the previous day’s N1,468.99/$1.
Also, the local currency improved its value against the Pound Sterling in the official market yesterday by N21.38 to sell at N1,882.47/£1 compared with the preceding session’s N1,903.85/£1 and against the Euro, it scaled up N20.29 to quote at N1,610.16/€1 versus Monday’s rate of N1,630.45/€1, as the supply of foreign exchange (FX) increased by $106.76 million or 66.1 per cent to $268.17 million from $161.41 million.
In the same vein, the domestic currency appreciated against the Dollar in the parallel market during the trading session by N20 to trade at N1,480/$1, in contrast to the previous day’s rate of N1,500/$1.
The sterling performance of the Nigerian currency occurred as the Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, said on Tuesday that investors were beginning to return to the country due to a series of measures the apex bank has taken to sanitise the FX market.
Mr Cardoso asserted this while briefing the press on the outcome of the two-day Monetary Policy Committee (MPC) meeting where the committee raised the benchmark interest rate by 150 basis points to 26.25 per cent to tackle inflation and bolster the ailing Naira.
Some of those, according to him, were measures to bring the much-needed transparency into the market and the settlement of “all valid” foreign exchange backlogs to industries and foreigners, which the apex bank said amounted to $7 billion.
In the cryptocurrency market, Ethereum (ETH) continued to rally on increasing anticipation of a US spot exchange-traded (ETF) fund approval, gaining 4.8 per cent to trade at $3,794.98.
Binance Coin (BNB) rose by 4.4 per cent to close at $617.67, Dogecoin (DOGE) climbed by 3.9 per cent to $0.1696, Bitcoin (BTC) appreciated by 0.6 per cent to $70,116.73, and Ripple (XRP) expanded by 0.08 per cent to settle at $0.5364.
On the flip side, Solana (SOL) depreciated by 4.4 per cent to $178.34, Cardano (ADA) lost 0.8 per cent to trade at $0.4945, and Litecoin (LTC) went down by 0.09 per cent to $88.11, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 apiece.
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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