Economy
Naira Strengthens to N874/$1 at NAFEM, Weakens to N1,255/$1 at Black Market
By Adedapo Adesanya
The Naira appreciated further against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, January 11, selling below N1,000 at the close of transactions.
During the trading session, the local currency appreciated against the greenback by 19.2 per cent or N207.53 to close at N874.79/$1 compared with the preceding day’s N1,081.32/$1.
Similarly, the Nigerian Naira improved its value against the Pound Sterling on Thursday by N84.47 to trade at N1,134/£1 versus Wednesday’s closing price of N1,219.32/£1 and against the Euro, it gained N71.05 to sell at N977.26/€1, in contrast to the midweek session’s rate of N1,048.31/€1.
The value of transactions witnessed yesterday stood at $110.41 million, according to data from the FMDQ Securities Exchange, 54.5 per cent or $132.19 million lower than the $242.60 million transacted in the preceding session.
However, in the Peer-to-Peer (P2P) segment, the domestic currency weakened against the American currency yesterday by N10 to quote at N1,249/$1 compared with the previous day’s N1,239/$1.
Also, the local currency depreciated against the US Dollar on Thursday by N10 to close at N1,255/$1, in contrast to the preceding session’s exchange rate of N1,245/$1.
In the cryptocurrency market, momentum was largely sustained as investors looked to assess what the market impact of a bitcoin ETF might be.
Recall that the US Securities and Exchange Commission (SEC) approved the first-ever batch of spot bitcoin exchange-traded funds to come out of the US, allowing investors to get exposure to the value of the underlying asset without directly owning it.
ETFs trade on traditional stock exchanges, and their value should rise when the underlying asset increases in price, or fall if it decreases.
Bitcoin (BTC) rose by 0.2 per cent to close at $46,091.75, Ethereum (ETH) saw its value go up by 0.5 per cent to $2,597.79, Litecoin (LTC) went up by 3.6 per cent to $73.34, Cardano (ADA) increased by 2.4 per cent to $0.5837, Binance Coin (BNB) jumped by 2.0 per cent to sell for $311.88, and Dogecoin (DOGE) grew by 1.6 per cent to $0.0843.
On the flip side, Solana (SOL) depreciated by 0.3 per cent to sell at $99.28, and Ripple (XRP) recorded a 0.1 per cent slide to trade at $0.5983, 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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