Economy
Naira Loses N5 Against Pound Sterling on Brexit Deal Possibility
By Adedapo Adesanya
The Naira ended weaker against the Pound Sterling at the parallel market on Monday, October 21, 2019, going down by N5 against the British currency to trade at N460/£1 compared with N455/£1 it was exchanged last Friday.
This came as the Sterling hit its highest levels against the Dollar yesterday since May 13, and was near a 5-and-a-half-month high against the Euro as markets bet the UK Prime Minister now had the numbers to pass a Brexit deal.
Mr Boris Johnson needs 320 Members of Parliament (MPs) to back his deal when it is first put to the House of Commons on Tuesday in the form of the Withdrawal Agreement Bill (WAB).
The WAB is the legislation required to enact the Brexit deal and the government is expected to proceed by first presenting the ‘programme motion’ required to pass the WAB through parliament.
A look at the performance of the Naira against the other foreign currencies at the black market yesterday showed that the local currency was also dealt a huge blow against the Euro.
At the close of transactions on Monday, the domestic currency also went down by N5 against the Euro to quote at N397 against the N402/€1 it closed at the previous trading day. However, the Naira remained unchanged yesterday at N360 against the US Dollar at the same market window.
At the Investors and Exporters (I&E) segment, the Naira appreciated by 0.08 percent or 29 Kobo to trade at N361.92/$1 compared with the N362.21/$1 it traded at the previous session on Friday.
During the trading session, the total turnover depreciated by 47.8 percent or $121.16 million as investors transacted a total of $132.44 million in contrast to $253.60 million exchanged at the segment last Friday.
At the Central Bank of Nigeria (CBN)’s interbank segment of the foreign exchange market, the local currency remained flat on Monday at N306.90/$1.
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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