Economy
Paxful Users in Nigeria Trade $400m Cryptos in H1 2022
By Aduragbemi Omiyale
The number of persons relying on the popular peer-to-peer finance platform, Paxful, for their crypto dealings has now reached 10 million after seven years of its inception.
Paxful has played a role in Africa’s trajectory as the leader of the financial revolution since it was established in 2015 with a simple mission to advance a truly global economy by building a financial system that serves the 100 per cent, not just the one per cent.
Globally, nearly $3 billion was traded on Paxful in 2021 and in Nigeria, the trade volume was over $760 million in the period under review, with Nigerian users now 2 million.
Despite the global financial crisis, Paxful is seeing that peer-to-peer and interest in Bitcoin is not slowing down as in the first half of 2022, Paxful users in Nigeria transacted cryptos of almost $400 million, showing that the emerging markets are still hungry for Bitcoin.
The founder/CEO of Paxful, Mr Ray Youssef, stated that “While many parts of the developed world are fixated on the speculative activity of Bitcoin, people in Africa are teaching us about its true use cases and the opportunity it presents for greater financial inclusion.”
“We do not want to downplay what’s happening in the market and the economic situation globally, but this is an opportunity for companies in the ecosystem to zoom out from the short-term focus and put effort into how and why Bitcoin creates an alternative financial option,” he added.
In just seven years, Paxful has grown into an organisation with nearly 400 employees globally and offices around the world.
The platform said it remains committed to further growing its footprint around the world and empowering users to take control of their financial future.
Paxful said it plans to continue to foster financial literacy and increase financial inclusion through education.
As part of Paxful’s mission to support emerging markets, Mr Youssef also co-founded the Built With Bitcoin Foundation, a non-profit organisation dedicated to creating equal opportunities by providing clean water, access to quality education, sustainable farming and humanitarian support – all powered by Bitcoin. The foundation has built eight schools across the continent, with two of them in Kaduna State, 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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