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Author: Julius Alagbe
Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.
The Central Bank of Nigeria (CBN) has again cut interest rates on Nigerian Treasury bills with 182-day and 364-day maturities, according to auction results obtained by MarketForces Africa.
Official, Parallel Markets FX Gap Widens as Naira Swings The naira exchange rate gap between the official and informal segments widened to N28 on Wednesday, as the local currency continues to swing on both sides depending on FX liquidity. The official spot rate weakened to N1,386.70 per dollar at the Nigerian foreign exchange market (NFEM) from N1382.68 per dollar, according to daily data published by the Central Bank. Signalling increased pressure on the local currency, the spot rate depreciated to N1391.5000 during the trading session. Naira traded at an intraday low of N1376 from N1372 the previous day. In the…
A Federal High Court sitting in Lagos has ruled that the Central Bank of Nigeria (CBN) acted beyond its powers when it sacked the board and management of Union Bank of Nigeria in January 2024.
U.S. Tech Giants’ AI Spending to Hit $700 billion Rapid AI advancement and increasing adoption are driving robust demand for computing capacity and pushing US data Centre hyperscalers to invest heavily, Moody’s said in a note. The global ratings agency revealed the expectation that total capital expenditures for the six US hyperscalers — Microsoft Corp., Amazon.com, Inc., Amazon Web Services (AWS), Meta Platforms, Inc, Alphabet Inc., Oracle Corporation, and CoreWeave, Inc would increase to $700 billion this year. The projected capital spending amount is nearly 6x their 2022 spending, according to Moody’s. Analysts said the investments are accelerating revenue growth,…
The Central Bank of Nigeria (CBN) has opened N400 billion worth of local treasury bills for subscription on Wednesday, bringing the total number of auctions in the quarter to eight, rather than the seven initially proposed.
Iran is easing restrictions on transit through the Strait of Hormuz, saying vessels not deemed hostile and not supporting military action against Tehran may pass, according to its mission to the United Nations.
With a 10% gain, telecommunication company Airtel Africa led the Nigerian Exchange (NGX) rebound, boosting the value of equity portfolios on Tuesday, according to trading data.
Moody’s Ratings has today assigned a Ba3 backed senior unsecured rating to Helios Towers plc’s (Helios Towers) proposed benchmark-size senior unsecured notes to be issued by HTA Group, Ltd., a fully owned subsidiary of Helios Towers.
GCR Ratings has upgraded SFS Capital Nigeria Limited’s national-scale long-term and short-term issuer ratings to A(NG) and A1(NG), respectively, from A-(NG) and A2(NG), with a stable outlook.
Fitch Ratings has assigned Helios Towers Plc’s (HT) proposed senior unsecured notes an expected rating of ‘BB-(EXP)’ with a Recovery Rating of RR4, in line with its ‘BB-‘ Issuer Default Rating (IDR) and existing senior unsecured debt.