Economy
Naira Gains 1.5% After CBN Clears Part of FX Backlogs
By Adedapo Adesanya
The Naira regained confidence on Monday by chalking up 1.5 per cent or N12.82 against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NFEM) to close at N856.57/$1 versus the preceding session’s N869.39/$1 as the Central Bank of Nigeria (CBN) paid $2 billion to clear a part of its backlog of matured foreign exchange obligations to Deposit Money Banks (DMBs).
The delay in the payment of the debts valued at $7 billion has been said to be responsible for the current volatility in the foreign exchange (FX) market, a situation that has led to the falling value of the Naira against the US Dollar.
According to a statement by the CBN on Sunday, foreign airlines also received $61.64m from the disbursement, aimed at addressing the pending matured forex owed to them.
The optimism boosted the market, which is rife with supply issues.
Also, the domestic currency improved its value against the Pound Sterling in the official market yesterday by N41.77 to sell at N1,113.34/£1 compared with last Friday’s rate of N1,155.11/£1, and against the Euro, it gained N41.84 to settle at N960.65/€1, in contrast to the previous session’s N1,002.49/€1.
Business Post reports that the value of forex supply to the spot market decreased during the trading day by 55.9 per cent or $75.73 million, to $59.66 million from the $135.39 million quoted last Friday.
However, in the Peer-to-Peer (P2P) arm of the FX market, the local currency weakened against the American currency by N6 to sell at N1,224/$1 versus the previous session’s value of N1,218/$1.
In the parallel market, the Nigerian Naira maintained stability against the greenback on Monday at N1,245/$1, according to data obtained by this newspaper.
In the cryptocurrency market, Bitcoin (BTC) remained up at $45,000 as traders await the approval of the spot Exchange Traded Funds (ETFs), which industry experts speculate a decision will be made this week by the US Securities and Exchange Commission (SEC).
According to Standard Chartered, Bitcoin could not only witness substantial inflows but also achieve a remarkable price milestone of $200,000 by the end of 2025, surpassing its previous all-time high.
This projection caused the price of BTC to rise yesterday by 1.5 per cent to $45,086.58 and Litecoin (LTC) grew by 0.3 per cent to $65.71, while Ethereum (ETH) went down by 0.7 per cent to sell at $2,265.76.
Further, Cardano (ADA) lost 2.1 per cent to trade at $0.5106, Dogecoin (DOGE) depreciated by 1.8 per cent to $0.0791, Binance Coin (BNB) slid by 1.3 per cent to $302.90, Ripple (XRP) recorded a 0.9 per cent slump to quote at $0.5647, and Solana (SOL) fell by 0.7 per cent to $95.30, while the US Dollar Tether (USDT) and Binance USD (BUSD) traded flat 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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