- 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.
Interbank rates dipped as liquidity pressure in the money markets eased at the beginning of the new week following inflows from Remita, and cash reserve maintenance credits.
Investors recorded about N84 billion gain as Aradel Holdings, Eunisell Interlinked, Flour Mills of Nigeria Plc
EUNISELL Tops Performers with 46% Price Uptick Eunisell Interlinked Plc recorded significant price surge of about 46% week on week in the equities segment of the Nigerian Exchange (NGX), hitting N8.20 on Friday in the local bourse. A company that could have been bought for N617.707 million now has asking price of N1.94 billion within 52 week on high (N8.2) and Low (N2.61) The company stock wasn’t this expensive few weeks ago until value hunters spotted prospects in taking positions in Eunisell Plc. It has been all the way to the moon for two weeks strait, gained 60% week on…
CBN Raises N2.07 Trillion via Treasury, OMO Bills Auctions The Central Bank of Nigeria (CBN) raised more than N2.07 trillion from the financial markets via Treasury, and OMO bills sales, details from the auctions results showed. The OMO, and Treasury bills sales conducted by the monetary authority effectively sterilised more than N2 trillion from the financial market to eliminate risks of excess liquidity in the financial markets. Nigeria’s double digit inflation rate is a downside to macroeconomic indicator performance as the CBN lost touch with price stability, worsened by naira’s negative fluctuations. To compensate for hot red headline inflation, investors…
Nigeria’s inflation rate has been projected to rise further due to negative impact high logistics costs and exchange rate pressures on food items across the markets.
CBN ACTION: The amount of US dollar sold to authorised dealer banks via foreign exchange market auctions fell by about 30% month on month
Algeria Unveils Six Onshore Blocks to Upstream Investors Algeria’s National Agency for the Valorization of Hydrocarbon Resources (ALNAFT) presented six onshore conventional licensing opportunities at African Energy Week: Invest in African Energies. The six high-potential opportunities consist of a mix of exploration, development and export opportunities and are open to competitive bidding. The round is part of a five-year licensing plan designed to attract global upstream investors and leverage more than 20 opportunities in Algeria. Following the launch of the licensing round on October 14, access to the tender documents and data packages will open on November 26. The deadline…
U.S Dollar Rises as Jerome Powell Plans No Resignation The US dollar rose against its major trading partners except for a decline versus the yen, as markets reflect on the Federal Open Market Committee’s decision to cut its federal funds rate. Federal Reserve Chairman Jerome Powell said that the results of the presidential and congressional elections will not have an impact on near-term monetary policy decisions. This include expected rates adjustment next meeting in December, because the FOMC will not assume what programs the new administration will enact. Powell added that he will not resign if asked by President-Elect Trump,…
The Federal Government (FG) has set up a nine- member committee to review Bilateral Investment Treaties (BITs) and the Nigerian Investment Promotion Commission (NIPC) ACT.
GCR Ratings has affirmed United Bank for Africa Plc’s long-term national and international scale ratings of AA+(NG)