Economy
Naira Weakens to N470/$1 at BDC Market as Forex Shortage Persists
By Adedapo Adesanya
The persistent shortage of foreign exchange (forex) at the currency market in Nigeria has continued to put huge pressure on the Naira.
At the Bureaux de Change (BDC) segment of the market on Wednesday, the value of the local currency against the United States Dollar was further weakened in Lagos by N1.50 to close at N470/$1 compared with the Tuesday’s N468.50/$1.
Business Post gathered from the Association of Bureau de Change Operators of Nigeria (ABCON) that at the same location, Lagos, the domestic lost N7 against the Pound to close at N580/£1 versus the previous rate of N573/£1 and dropped 50 kobo on the Euro to sell at N527.50/€1 in contrast to N527/€1 it quoted on Tuesday.
In Port Harcourt, operators traded the Dollar at N470/$1 compared with the previous session’s N468/$1, indicating a decline by N2. Against the Pound, the Naira lost N3 to close at N577/£1 in contrast to N574/£1, while against the Euro, it depreciated by N1 to N527/€1 from N526/€1.
However, at the Abuja BDC market, the Naira closed flat against the greenback at N468/$1, but lost N14 against the Pound to sell at N576/£1 versus N590/£1 of the preceding session and appreciated by N28 against the Euro to quote at N527/€1 compared to N555/€1 it traded on Tuesday.
In Kano, the local currency closed flat against the Dollar at N468/$1 and further remained unchanged against the Pound and Euro at N570/£1 and N520/€1 respectively.
At the interbank segment of the forex market, the value of the Naira to the Dollar remained stable at N381/$1 at the close of transactions yesterday.
It was a similar scenario at the black market, where the Naira maintained stability against the US Dollar on Wednesday at N472/$1. Against the Euro, the local currency remained flat at N530/€1, but lost N3 on the Pound to trade at N578/£1 versus N575/£1 of Tuesday.
Also, at the Investors and Exporters (I&E) segment of the market, the Naira retained its previous exchange rate against the greenback at N388.17/$1.
This was helped by the further decline in the demand for forex at the window yesterday as the trading value went down by 59.1 per cent or $17.60 million to $12.17 million from $29.77 million on Tuesday.
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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