Economy
Naira Slumps at Peer-to-Peer, Gains at I&E, Black Market
By Adedapo Adesanya
The Naira depreciated against the US Dollar in the Peer-2-Peer (P2P) segment of the foreign exchange (forex) market on Tuesday but appreciated in the Investors and Exporters (I&E) and the black market windows during the session.
Traders exchanged their local currency for the American currency at N750/$1 in the P2P category of the FX market versus N749/$1 it sold in the previous session, indicating that it slumped by N1 at the close of business.
However, in the official market, the domestic currency appreciated against the greenback yesterday by 67 Kobo or 0.14 per cent to trade at N462.33/$1 compared with last Friday’s closing value of N463.00/$1.
It was the first trading session of the week due to the Workers’ Day holiday observed on Monday, and there was not much forex demand pressure on the Nigerian currency.
The value of FX transactions recorded on Tuesday, according to the FMDQ Securities Exchange, was $46.04 million, 35.8 per cent or $25.64 million lower than the $71.68 million reported in the preceding session.
In the parallel market, the Naira gained N1 against the United States Dollar yesterday to quote at N738/$1, in contrast to the previous trading session’s exchange rate of N739/$1.
In the interbank segment, the Nigerian Naira lost 71 Kobo against the Pound Sterling on Tuesday to close at N574.77/£1 versus its previous rate of N574.06/£1 but appreciated against the Euro by N1.68 to sell at N506.11/€1 compared with last Friday’s value of N507.79/€1.
Meanwhile, Bitcoin (BTC) traded above $28,500 in the crypto market yesterday as investors prepare for tomorrow’s Federal Reserve interest rate decision. The US central bank is expected to increase rates by 0.25 per cent, despite the U.S. economy slowing down.
BTC, which is the most valued crypto, added 1.8 per cent to sell at $28,516.07, while its closest rival, Ethereum (ETH) went up by 1.7 per cent to $1,861.98.
Litecoin (LTC) rose by 1.1 per cent to $87.69, Ripple (XRP) jumped by 0.5 per cent to $04637, Cardano (ADA) improved by 0.3 per cent to $0.3868, and Solana (SOL) chalked up 0.2 per cent to sell at $21.86.
Conversely, Binance Coin (BNB) fell by 0.4 per cent to trade at $324.70, and Dogecoin (DOGE) depreciated by 0.2 per cent to $0.0784, while the US Dollar Tether (USDT) and Binance USD (BUSD) remained unchanged 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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