Economy
Naira Trades at N715/$1 in Lagos Parallel Market
By Dipo Olowookere
The Naira traded against the Dollar at the black market in Lagos on Thursday at N715/$1 compared with the N705/$1 it was transacted on Wednesday.
One of the Business Post reporters bought the American currency at the Olugbede Model Market, Egbeda, at the rate this morning and the reason given for the exchange rate is the scarcity of the Dollar in the parallel market segment of the foreign exchange (FX) market.
“There is not enough Dollar in circulation at the moment and those who have it are selling in bits and prefer to sell to customers who want higher volume as the rate would be higher,” one of the forex traders identified as Alhaji Isa said.
“We are keeping the Dollar to sell at N750 later. We know it would reach this amount very soon,” another seller, Abdulahi Musa, told this reporter in a chat.
It was observed that the Naira to Dollar exchange rate is feeling the impact of speculators and FX users are suffering from this.
On Wednesday, the Senate moved to stop this and directed the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, to take quick action to save the local currency.
About a year ago, the central bank stopped the supply of forex to Bureaux De Change (BDC) operators in the country, accusing them of using their platforms to fund terrorism.
A few months later, Mr Emefiele accused an online platform publishing FX rates, AbokiFX, of manipulating exchange rates to weaken the value of the Naira.
The platform was forced to stop publishing the rates but the Naira is yet to get a cure as forex supply to the market has continued to drop, causing traders to ration what they have.
Yesterday, one of the Senators, Mrs Biodun Olujimi, blamed the central bank for the FX crisis in the country, submitting that, “Most of what is happening are because people are taking out the dollar and selling and bringing them back in — we should be penalising somebody for what has happened to the naira-dollar rate.
“The time has come for us to look holistically into what is happening. What is happening to the dollar is a replica of what is happening to Nigeria.”
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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