- 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 market value of Oando Energy Plc has crossed N1 trillion mark again due to the latest rally on the oil stock on the Nigerian Exchange trading platform. T
Interbank rates heated up due to sustained weakness in the liquidity balance in the financial markets.
MTN Will Shut Down Without Tariff Hike, CEO Says Telecommunications giant MTN Nigeria PLC has raised alarms over a potential shutdown if tariffs are not increased to address rising operational costs. The company’s Chief Executive Officer, Karl Toriola, issued this warning during a tour of MTN’s facilities by Fellows of the Media Innovation Programme in Ibeju-Lekki, Lagos. Toriola highlighted that the telecommunications sector is facing severe financial strain, especially from escalating diesel prices required to power base transceiver stations. “There should be no delusion; if the tariff doesn’t go up, we will shut down,” he said, underscoring the urgency of…
The global crypto market cap sank by 0.15% to settle at $2.32 trillion in the latest soft pricing of digital assets.
Seplat Energy Plc market value increased by about 10% as the approval of the ExxonMobil deal boosted equities investors’ sentiments on the Nigerian Exchange (NGX) trading platform on Monday.
Consumer goods company, Unilever Nigeria Plc, profit grew by more than 559% year on year to N11 billion
Dangote Refinery Asks Court to Nullify NNPCL, Others’ Import Licences The Dangote Petroleum Refinery and Petrochemicals FZE has prayed a Federal High Court in Abuja to nullify import licences issued to the Nigeria National Petroleum Corporation Limited (NNPC) and five other companies for the purpose of importing refined petroleum products. Other five companies are Aym Shafa Limited, A. A. Rano Limited, T. Time Petroleum Limited, 2015 Petroleum Limited and Matrix Petroleum Services Limited. Dangote Refinery, in a suit marked: FHC/ABJ/CS/1324/2024 and filed by Ogwu Onoja, SAN, before Justice Inyang Ekwo, had sued Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA)…
Oando Rises by 10% on Plan to Release Audited Report OANDO Energy Plc added weight as the company’s market value increased by 10% as investors raised bets ahead of the third quarter earnings release and 2023 audited financial statement. The earlier announced plan to release the audited report for financial year 2023 on Oct 23, 2024, boosted investors’ sentiments and confidence. The energy company share price has begun to regain momentum as investors began to price in the company’s growth strategy. Recall that the oil stock soared significantly post acquisition of Nigerian Agip Oil Company’s oil asset from Eni. Oando…
In the equities market, investors placed about N5.2 trillion as the combined market value or worth of the Nigerian top five banks …
Zenith Bank Appoints Abiodun Durosinmi as CFO Zenith Bank has announced the appointment of Abiodun Durosinmi as its new chief financial officer, effective October 14, 2024. In a regulatory filing, the Tier-1 bank said Durosinmi’s appointment has been approved by the Central Bank of Nigeria. Mr. Durosinmi succeeds Dr. Mukhtar Adam, who has served as CFO for six years between May 2018 and October 2024, Zenith Bank told the Nigerian Exchange. The bank explained that the incoming CFO brings over 20 years of experience with Zenith Bank Plc. He has held a variety of significant roles with the Zenith Group,…