Economy
Nigeria-China Currency Swap Deal Won’t Cover 41 Banned Items—CBN
By Modupe Gbadeyanka
The 41 items restricted by the Central Bank of Nigeria (CBN) from accessing foreign exchange (forex) will not have the opportunity of benefitting from the historic $2.5 billion bilateral currency swap agreement between Nigeria and China, the apex bank has disclosed.
Spokesman of the central bank, Mr Isaac Okorafor, made this clarification in an interview with newsmen in Abuja on Sunday.
In 2015, the apex bank gave a directive stopping the importation of some goods because they were local substitutes for them.
The policy was to stop importers of the items from buying foreign currency from the official window to pay the overseas suppliers. Rather, they will have to source forex from the parallel market or Bureau De Change to pay for their imports.
Speaking at the weekend, Mr Okorafor explained that the exemption of the 41 items will ensure that the currency deal does not stifle local companies and make Nigeria a dumping ground for Chinese goods.
“The fear is unfounded and I’ll give you reasons why. The first one is that we are going to focus on exports to China.
“Also, remember that we already export cassava products to China as well as leather, hides and skin amongst others.
“So, this deal will open further the export market to China. Also, I want Nigerians to know that the items that will come in are not necessarily finished goods.
“So, the issue of Nigeria becoming a dumping ground for China does not arise.
“This is because the 41 items that had initially been banned from the Nigerian Foreign Exchange Market will still not qualify under the deal,” the apex bank’s image maker told reporters.
Business Post reports that these 41 banned items are rice, cement, margarine, palm kernel/palm oil products/vegetables oils, meat and processed meat products, vegetables and processed vegetable products/poultry chicken/eggs/turkey, private airplanes/jets, Indian incense, tinned fish in sauce(Geisha)/sardines, cold rolled steel sheets, galvanized steel sheets, roofing sheets, and wheelbarrows.
Others are head pans, metal boxes and containers, enamelware, steel drums, steel pipes, wire rods (deformed and not deformed), iron rods and reinforcing bard, wire mesh, steel nails, security and razor wine, wood particle boards and panels, wood fibre boards and panels, plywood boards and panels, wooden doors, and toothpicks.
Also on the list are glass and glassware, kitchen utensils, tableware, tiles-vitrified and ceramic, textiles, woven fabrics, clothes, plastic and rubber products, polypropylene granules, cellophane wrappers, soap and cosmetics, tomatoes/tomato pastes, and Eurobond/foreign currency bond/ share purchases.
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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