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Naira Slides to N452.67/$1 at I&E, N770 at P2P, N745 at Black Market

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By Adedapo Adesanya

The value of the Naira to the United States Dollar has started to decline in the different segments of the foreign exchange ((forex) market as a result of renewed scarcity of FX in the system.

In the past week, the Central Bank of Nigeria (CBN) had tried to improve the situation, but counter policies have reignited the flames and they could burn down the system.

On Tuesday, the domestic currency depreciated against the greenback at the black market, Peer-to-Peer (P2P), and the Investors and Exporters (I&E) windows of the market.

The demand for forex as the market heads into the Yuletide weakened the Nigerian currency against the Dollar at the I&E window yesterday by N1.67 or 0.26 per cent as it closed at N452.67/$1 compared with Monday’s rate of N451/$1.

Data published by FMDQ Securities Exchange showed that the FX turnover for yesterday was $134.04 million, 94.6 per cent or $65.46 million more than the $69.18 million published on Monday.

In the P2P segment, the average exchange rate of the Naira to the Dollar was N770/$1, in contrast to the N768/$1 it was transacted in the preceding session, indicating a decline of N2.

Also, in the parallel market, the local currency lost N1 against the American currency yesterday to sell for N745/$1 compared with the previous day’s value of N744/$1.

However, in the interbank window, the Nigerian Naira closed flat against the Pound Sterling and the Euro at N544.46/£1 and N474.89/€1, respectively.

Meanwhile, in the cryptocurrency market, transactions were mixed, with Dogecoin (DOGE) going down by 2.7 per cent to $0.0727, and Cardano (ADA) losing 2.3 per cent to trade at $0.2516.

Further, Solana (SOL) recorded a 2.1 per cent slump to quote at $12.08, and Ripple (XRP) fell by 0.5 per cent to settle at $0.3423.

But Bitcoin (BTC) jumped by 0.4 per cent to $16,845.51, Ethereum (ETH) improved by 0.3 per cent to $1,211.99, Litecoin (LTC) grew by 0.2 per cent to $65.18, and Binance Coin (BNB) added 0.03 per cent to trade at $248.74.

As for the US Dollar Tether (USDT) and Binance USD (BUSD), they remained unchanged at $1.00 each.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Economy

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

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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.

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Economy

Fidson Lists Additional 600 million Shares on Stock Exchange

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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.”

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Economy

FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure

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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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