Economy
Nigeria’s FX Market Expects Boost From $900m Domestic Bond Raise
By Adedapo Adesanya
The Nigerian foreign exchange market is expected to have some much-needed boost following the first-ever foreign-currency domestic bond which secured $900 million in subscriptions.
The proceeds from the bond will be allocated to critical economic sectors, as approved by President Bola Tinubu, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun said.
While discussing the results of the historic bond issuance on Tuesday, Mr Edun noted that the oversubscription reflects investor confidence in Nigeria’s economic stability and potential for growth.
“The issuance of this inaugural domestic FGN US Dollar Bond highlights the continued faith investors have in Nigeria’s economy,” Mr Edun said.
The bond attracted a wide range of investors, including Nigerians both locally and abroad, as well as institutional investors.
Also, expected to receive a boost is Nigeria’s FX market, which has been gripped by a shortage of forex and a high seasonal demand amid a slowdown in investments and a decline in oil sales, which accounts for over 60 per cent of the country’s foreign earnings.
The local currency has been battered heavily this month, with the exchange rate closing at N1,639 per Dollar on Tuesday at the official market and around N1,650 at the black market.
The $500 million domestic FGN US Dollar Bond, with a five-year maturity and a 9.75 per cent coupon, is the first tranche of a $2 billion bond programme registered with the Securities and Exchange Commission (SEC).
The structure of the bond allows the government to absorb oversubscriptions up to the full $2 billion programme limit.
Also speaking, the Director-General of the Debt Management Office, Ms Patience Oniha, described the bond’s success as a pivotal moment for Nigeria’s economic development.
She noted that the $900 million raised from diverse investors underscores the growing sophistication of Nigeria’s domestic fixed-income market.
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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