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Traders Exchange Dollar for N472 at Abuja BDC Market

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Lagos BDC Market

By Adedapo Adesanya

The Naira was weakened further at the Bureaux De Change (BDC) segment of the foreign exchange (forex) market on Thursday, July 23.

Data obtained by Business Post from the Association of Bureaux De Change Operators of Nigeria (ABCON) showed that in Abuja, the Naira lost N4 against the Dollar to sell at N472/$1 compared to N468/$1 of the previous day, while against the Pound, it lost N4 to close at N580/£1 versus N576/£1 and depreciated by N3 on the Euro to exchange at N530/€1 in contrast to Wednesday’s rate of N527/€1.

In Lagos, the BDC operators traded the Dollar for N471 compared with the previous day’s N470, indicating a weakening of the local currency by N1. Against the Pound, the Naira also lost N1 to sell at N581/£1 as against N580/£1 it went for at the midweek session and lost 50 kobo on the Euro to close at N527.50/€1 versus N527/€1.

At the Port Harcourt BDC market, the Naira lost 50 kobo against the Dollar to sell at N470.50/$1 versus N470/$1, but closed flat on the Pound at N577/£1 and fell by N3 against the Euro to close at N530/€1 as against N527/€1.

Likewise, at the Kano BDCs market, the Naira lost N3 against the US Dollar to sell at N471/$1 in contrast to N468/$1, but closed flat against the Pound and Euro at N570/£1 and N520/€1 respectively.

It was a different outcome at the Investors and Exporters (I&E) window as the Naira appreciated by 0.04 per cent or 17 kobo on Thursday to trade at N388/$1 compared with the previous session’s N388.17/$1.

This happened despite a slight rise in the demand for forex at the segment.

According to the FMDQ, the trading value increased to $12.61 million from $12.17 million by 3.6 per cent or $440,000.

At close of transactions yesterday, the official exchange rate of the Naira to the Dollar remained flat at N381/$1 at the interbank window.

At the black market, the local currency also closed flat against the Dollar at N472/$1 and remained flat against the Euro at N530/€1. However, against the Pound, the domestic currency depreciated by N4 to close at N582/£1 compared to the previous N578/£1.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Economy

SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs

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capital market operators

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.

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Economy

Fidson Lists Additional 600 million Shares on Stock Exchange

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fidson

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.”

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Economy

FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure

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FG contractors protest

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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