Economy
Naira Recovers After Early Scare Triggered by FX Scarcity
By Adedapo Adesanya
The Nigerian Naira made some recoveries against the US Dollar in the Investors and Exporters (I&E) and the Peer-2-Peer (P2P) windows of the foreign exchange (forex) market on Thursday, April 11.
Earlier in the session, the Naira suffered a significant loss against its American currency, with speculators taking advantage of the loophole in the FX market in the country.
The local currency gained N1.04 or 0.13 per cent against the greenback at the spot market during the session to trade at N781.34/$1 compared with the previous day’s value of N782.38/$1.
Data from FMDQ Securities Exchange showed that the value of forex transactions during the trading day went down by 2.4 per cent or $1.47 million to $58.79 million from the $60.26 million achieved a day earlier.
In the P2P segment, Business Post reported that the intra-day trading hit a low of N940/$1, but towards the close of the day, the Naira recovered and gained N2 against the Dollar to close at N925/$1 compared with the previous day’s N927/$1.
However, in the black market, the domestic currency depreciated against the greenback yesterday by N5 to trade at N920/$1 compared with Wednesday’s closing price of N915/$1.
The Naira traded flat against the Pound Sterling and the Euro in the I&E segment on Thursday at N977.41/£1 and N841.99/€1, respectively.
At the crypto market, most of the tokens moved toward the bears, as inflation data from the US indicated an acceleration in the Consumer Price Index (CPI), rising from an annual rate of 3 per cent to 3.2 per cent. However, this figure fell slightly below the market expectation of 3.3 per cent.
Bitcoin (BTC) fell by 0.5 per cent to $29,348.74, Ethereum (ETH) slid 0.3 per cent to $1,845.10, Litecoin (LTC) depreciated by 1.2 per cent to $83.09, Binance Coin (BNB) fell by 1.1 per cent to $240.35, and Cardano (ADA) dropped 1.0 per cent to sell at $0.2963.
Further, Dogecoin (DOGE) shrank by 0.3 per cent to $0.0755, and Ripple (XRP) lost 0.03 per cent to trade at $0.6372, while Solana (SOL) appreciated by 1.9 per cent to $24.69, with Binance USD (BUSD) and the US Dollar Tether (USDT) remaining unchanged 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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