- Iran Plans to Restore 3mbpd Oil Production in 60 Days
- Aradel Grows Profit by 192%, Declares N23 as Final Dividend
- Dangote Cement Sells 64% of Production Volume to Nigerians
- Naira Tumbles as Interbank FX Turnover Drops by 43%
- XRP Rises as HKIMR Recognises Ripple for Cross-Border Payment
- ETC- Ethereum Classic Gains 6% on Listing Speculation
- Bitcoin Climbs, JP Morgan Says BTC Trades Below Mining Costs
- Equities Investors Lose N939bn as Banking Index Tumbles
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 Nigerian naira has continued to win this week against the US dollar doninance on an electronic trading platform—Bloomberg BMatch—introduced on Monday.
Sell pressure on Nigerian banks, FCMB and FBN Holdings Plc, or FBNH, has dragged the equities market index downward.
The discount rate on Nigerian Treasury bills reduced in the primary market conducted by the Debt Management Office
Global Cryptos Market Cap Nears $3.6 Trillion on Fresh Rally The momentum in the cryptocurrency market increased further on Wednesday as retail investors put bets on top major assets. Bitcoin (BTC-USD) and Ethereum (ETH-USD) reclaimed their lost positions on the back of positive price movement as the investment environment heated up ahead of Yuletide. Orange coin is about $97,000 during early trading hours on Wednesday, up by 1.677%, while Ether has reached $3,722 at the same time, up by more than 3% in the last 24 hours According to data from the CoinMarketcap.com, the global crypto market capitalisation advanced father…
The naira exchange rates mixed as Nigeria’s $2.2 billion Eurobonds raised boosted market confidence.
Banks Release Updates on Unused Savings Accounts Nigerian deposit money banks (DMBs) have started to inform their customers that unused savings accounts for periods of 12 months will be classified as dormant, as ordered by the regulator – the Central Bank. In their separate notices, banks said, in line with the directive from the Central Bank of Nigeria (CBN), savings accounts that have not been used for a specified period will now be classified as inactive or dormant. Bankers said this means that accounts with no transactions for 6 months will be marked as inactive. However, if inactivity continues, such…
A strong demand for Lafarge Africa, FBN Holdings, and other banking names has nudged the equities market index
Enugu, Austrian Firm Sign $100m Infrastructure Deal The Enugu State Government and Austrian firm WANDE NEXUS signed a $100 million deal to implement Sustainable Last Mile Connectivity and Advanced Metering Infrastructure (AMI) Project in Enugu. With the signing, which took place at the Government House, Enugu, in the presence of the Austrian Ambassador to Nigeria, Thomas Schlesinger, the firm will be injecting the fund as Foreign Direct Investment (FDI) to modernise water infrastructure. In a speech, Gov. Peter Mbah described the signing as an example of the relationship that could exist between a sub-sovereign and a sovereign, as well as…
Developing countries spent a record $1.4 trillion to service their foreign debt as their interest costs climbed to a 20-year high in 2023, the World Bank’s latest International Debt Report shows.
Interbank Rates Dip as FAAC, Remita Inflows Boost Liquidity In the money market, the short-term benchmark interest rates dipped significantly on the back of additional inflows, which boosted liquidity balance in the financial system. Data showed that interbank rates retreated sharply as a flood of inflows lifted liquidity balance from the deficit position that it had sustained for weeks. Amidst liquidity struggles, banks borrowed a total of N8.3 trillion from the Central Bank of Nigeria’s (CBN) Standing Lending Facility (SLF) to fund their operations and close deficits. Analysts said borrowing activities from the CBN window would reduce drastically as the…