- Moody’s Changes Nigeria’s Credit Rating Outlook to Positive
- Investors Trim Nigerian Bond Holdings Over Shrinking Rates
- Money Market Liquidity Tightens as CBN Steps Up OMO Actions
- XRP Falls as Ripple Prime Opens Wall Street Swap Desk
- Cardano Price Falls to $0.20 on Altcoin Sell Pressure
- Fitch Affirms France at ‘A+’ with Stable Outlook
- MTN Nigeria Dips Ahead of Scheduled Dividend Payments
- First Holdco Hits N6.6trn on 60% Distributable Profit Bets
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.
South African rand firmer after US Federal Reserve decision to keep rates weakened the dollar amidst a slowdown in oil price movements in the global commodity market.
Shell Earnings Surge in Q2 on Higher Oil, Gas Prices Shell earnings surged in the second quarter of financial year 2026, a performance that was significantly bolstered by geopolitical dislocation that pushed global oil prices higher. The company reported a sharp earnings increase supported by strong operational performance, higher realised oil and gas prices, and record upstream production in Brazil. The company said adjusted earnings rose to $9.8 billion in the second quarter of 2026 from $6.9 billion in the previous quarter, while adjusted EBITDA increased to $20.7 billion from $17.7 billion. Cash flow from operations climbed to $21.4 billion…
The naira softened slightly against the US dollar at the Nigerian foreign exchange market (NFEM), where the local currency closed at N1366.7278 on Thursday.
MTN Nigeria Plc grew profit by about 71% year-on-year to N707.541 billion in the first half of financial year 2026, details from the company’s earnings report revealed.
Zenith Bank, Access Holdings, FirstHoldco, among others, dragged the Nigerian Exchange (NGX) down by more than N1 trillion, further reducing year-to-date returns.
Meta platform earnings underperformed analysts’ expectations; its Q2 2026 results showed adjusted earnings per share (EPS) declining 31.5% year on year to $6.18, well below the $8.58 estimated by Bloomberg.
The Nigerian money market rates closed mixed on Wednesday as financial system liquidity declined by 38% on the day due to the settlement of the OMO bills auction.
Presco Declares N10 as Interim Dividend on Weak Earnings Performance Presco Plc has declared an N10 interim dividend per share for the first half of the financial year 2026 amidst weaker earnings performance for the period. In the stock market, the company’s share price closed flat at N2,070 as earnings and dividend announcements diluted investors’ sentiment. The company reported a 7.3% year-on-year decline in Profit After Tax (PAT) to N82.3 billion, underpinned by muted revenue growth, elevated operating costs and a higher effective tax rate. Earnings Per Share (EPS), however, reported a steeper decline of 20.5% YoY to N70.52 due…
Oil prices edged higher on Thursday after US President Donald Trump vowed a “very strong” response to a drone attack on a US-owned LNG tanker in Egypt.
Wema Bank Slides as EPS Moderated by 20% in H1-2026 Wema Bank Plc, a tier-2 Nigerian lender, shed 2.21% of its stock market value amid sell pressure following the first-half 2026 earnings release. This followed investors’ reaction to the bank’s half-year earnings release – with robust top- and bottom-line performance except for moderated earnings per share (EPS). Earnings and investors’ sentiment disconnected, which triggered profit-taking activities in Wema Bank shares. Stock market analysts said there is a strong probability of a rebound as investors weigh their positions. Details from the Nigerian Exchange showed the bank’s share price declined to N30.95…