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Economy

Value of Naira to Dollar Worsens to N476.60/$1 at Lagos BDC Market

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By Adedapo Adesanya

The value of the Nigerian Naira to the Dollar at the Bureaux De Change (BDC) segment of the foreign exchange market in Lagos depreciated on Wednesday, August 26, 2020.

According to data fetched by Business Post from the Association of Bureaux De Change Operators of Nigeria (ABCON) yesterday, the local currency lost N1.60 against the US Dollar to trade at N476.60/$1 compared with the previous value of N475/$1.

Also, against the Pound, the Naira depreciated by N1 to close at N618/£1 versus N617/£1 of the prior session but gained N1 on the Euro to close at N552/€1 versus N553/€1.

At the Port Harcourt BDC market, the Naira lost 50 kobo against the greenback to close at N475.50/$1 compared to N475/$1 while against the Pound, it dropped N3 to close at N614/£1 as against Tuesday’s N611/£1 and fell N5 by against the Euro to sell for N553/€1 versus N548/€1.

At the Abuja BDC market, the Naira closed the day’s session flat against the Dollar, Pound and the Euro at N475/$1, N620/£1 and N555/€1 respectively and the same scenario played out at the Kano BDC market, where the value of the domestic remained unchanged against the Dollar, Pound and Euro at N475/$1, N595/£1 and N548/€1 respectively.

At the Investors and Exporters (I&E) window, the local currency remained stable against the Dollar for the third straight session, selling at N386 per Dollar.

This was boosted by the decline in the demand for forex by customers, who carried out transactions worth $14.47 million at the midweek session, 62.9 per cent or $24.56 million lower than the preceding day’s $39.03 million.

At the interbank window of the forex market, the value of the local currency against the US currency remained at N379 per Dollar.

The stability was also extended to the black market, where the Nigerian Naira was flat against the Dollar at N477/$1. It also traded flat against the Euro at the same market at N552/€1, but lost N1 on the Pound to close at N612/£1 compared to the previous closing rate of N611/£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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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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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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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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