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Worry as Dollar Sells at N460 at at Parallel Market

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strong dollar demand Naira

By Adedapo Adesanya

The value of the Naira to the United States Dollar depreciated at both the parallel and Bureau De Change (BDC) segments of the foreign exchange market on Tuesday, April 28.

At the parallel market, scarcity woes loomed as the local currency lost N10 to trade at N460/$1 in contrast to N450/$1 it traded the previous day.

At the same segment, the domestic currency also shed N10 against the Pound to settle at N520/£1 compared with N510/$1 of the previous session. However, the domestic currency remained unchanged against the Euro at N450/€1.

At the Bureau De Change (BDC) segment of the market yesterday, the Naira depreciated by more than 9 percent across four key cities of the country.

According to figures obtained by Business Post from the Association of Bureaux De Change Operators of Nigeria (ABCON), the Naira weakened against the Dollar in Lagos N5 to N457/$1 from N452/$1.

However, against the British Pound, the Naira appreciated by N2 to close at N508/£1 as against N510/£1 recorded on Monday and against the Euro, the Naira remained at N460/€1.

In Abuja, the local currency shed as much as N62 against the Dollar to close at N457/$1 compared with N415/$1 it traded previously. It dropped N8 against the Pound to close at N498/£1 in contrast to N490/£1 and was unchanged against the Euro at N440/€1.

At the Port Harcourt BDC market, the Naira also fell N62 on the Dollar to N457/$1 and shed N21 against the Pound and N30 on the Euro to sell at N508/£1 and N460/€1 from N487/£1 and N430/€1 of the previous session respectively.

In Kano, the local currency lost N44 against the Dollar to trade at N459/$1 compared with N415/$1 of the preceding session. On the Pound Sterling, the local currency shed N8 to N498/£1 from N490/£1, but recorded no movement on the Euro at N440/€1.

At the Investors and Exporters (I&E) segment, the Naira remained unchanged against the greenback at N386.25/$1.

This followed the decline in the demand for forex at the market segment on Tuesday. The value of transactions declined by 78 percent to $11.34 million from $51.81 million recorded on Monday.

At the interbank segment, the exchange rate of the Naira to the Dollar remained flat at N361/$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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