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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.
As banks sold their holdings to satisfy funding demand, the average yield on Nigerian Treasury bills increased to 25.64% in the secondary market.
Equities investors saw about N259 billion gain in the equities market as oil stocks attracted attention.
Jaiz Bank Plc has achieved new capital based required by the Central Bank with successful completion of a N10.04 billion private placement.
GTCO, OANDO, and Guinness Plc have pushed the Nigerian Exchange (NGX) all-share index higher during the intraday trading session in the local bourse.
Ebonyi Approves Over ₦5bn for Workers’ Housing Units The Ebonyi State Government has approved over N5 billion to construct 126 housing units for its workers. Mr Jude Okpor, Commissioner for Information and Orientation, disclosed this on Tuesday in Abakaliki at a news conference after the state executive council meeting. “The council approved ₦40 million as a unit cost for each of the 126 approved housing units. “This is expected to gulp N5,000,000,040. The council at the meeting resolved to execute this project through direct labour,” Okpor explained. On the state revenue generations, the commissioner said that the council gave approval…
The Lagos Chamber of Commerce and Industry (LCCI) has said that the Federal Government’s reforms, if sustained….
The Nigerian Exchange (NGX) All-Share index is tracking downward during intraday trading sessions as investors offload oil and banking stocks after an inflation surge.
The naira depreciated against the US dollar in the official market due to insufficient FX liquidity to meet foreign currency demand. The local currency has been struggling to keep value amidst increasing demand for a preferred foreign currency, the US dollar.
The Federal Government, through the Debt Management Office (DMO) has offered two FGN bonds valued at N120 billion for subscription through auction.
Naira Plummets, CBN Intervenes in FX Market 3 Times The Nigerian naira lost against the dominant U.S. dollar across foreign exchange markets despite the fact that the Central Bank (CBN) conducted FX intervention sales three times in a week. The local currency depreciated by 33 basis points week on week to close at N1,540 per US dollar, with transactions settling between N1,520 and N1,549 in the autonomous FX market. Strong demand for foreign currency in the official window caused the naira to lose N5 on each US dollar traded. Forex market liquidity was strong, albeit insufficient to give the local…