Economy
Naira Trades N1,278/$1 at NAFEX, N1,250/$1 at Black Market
By Adedapo Adesanya
The Naira showed resilience against the US Dollar in the black market and the Nigerian Autonomous Foreign Exchange Market (NAFEM) segments of the foreign exchange (FX) market on Tuesday.
It appreciated against the greenback after the Easter break by 2.4 per cent or N30.81 in the official market to N1,278.00/$1 compared with last Thursday’s closing price of N1,309.39/$1.
Also, the Naira gained N110.00 against the Pound Sterling in the spot market yesterday to sell at N1,680.88/£1, in contrast to the preceding session’s N1,790.98/£1, and against the Euro, it was strengthened by N97.86 to close at N1,437.09/€1 versus N1,534.95/€1.
The value of forex transactions went down by 87 per cent or $746.60 million to $111.18 million from the $857.78 million recorded in the last trading session, according to data from the FMDQ Securities Exchange.
A look at the parallel market showed that the domestic currency improved against its American counterpart on Tuesday by N20 to quote at N1,250/$1 compared with the N1,270/$1 it was transacted on Monday.
Recent policy moves by the Central Bank of Nigeria (CBN) has continued to yield positive results with the market easing from an unprecedented high as the apex bank assured that more FX-focused policies that will trigger price discovery in the market will continue.
The leadership of the CBN, spearheaded by Governor Yemi Cardoso, has reiterated its position on several occasions to focus on its core objectives and reduce interventionist pursuits.
Meanwhile, the cryptocurrency market recorded a largely weak outcome on Tuesday as the price of Ethereum (ETH) dropped after a decline in Bitcoin (BTC) sent a large part of the crypto market into the red zone.
ETH’s chances of seeing a significant price boost face uncertainty as the US Security and Exchange Commission (SEC) is yet to show any positive sign of approving applications for a spot Ethereum ETF.
As a result, much of its price movements in the past months have largely been due to its high correlation with Bitcoin rather than its fundamentals. The second most valuable coin slipped 2.5 per cent to $3,303.43.
Dogecoin (DOGE) depreciated 2.4 per cent to sell at $0.1855, Ripple (XRP) slid by 2.3 per cent to trade at $0.5874, Cardano (ADA) fell by 1.8 per cent to $0.5893, BTC lost 0.9 per cent to quote at $66,239.89, and Binance Coin (BNB) went down by 0.6 per cent to $560.51.
However, Litecoin (LTC) surged by 3.1 per cent to $102.28, and Solana (SOL) jumped by 2.6 per cent to $190.12, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained intact 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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