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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.
Investors, bondholders refused to give up Federal Government of Nigeria (FGN) bond buying in the secondary market after disinflation raised real return on naira assets.
Interbank rates crossed the 31% benchmark as the liquidity level in the financial system remains in negative territory. Due to a weak funding profile in the financial system, money market rates have remained elevated.
US Federal Reserve slashed fed fund rates by 50 basis points (bps) as hawkish monetary policy has now expired. In a statement, the Fed said recent indicators suggest that economic activity has continued to expand at a solid pace.
Equities investors trading highs and lows on the Nigerian Exchange (NGX) platform gained more than N316 billion due to positive price appreciation is some bellwethers on Wednesday.
The naira soared by more than 7% to N1,539.65 against US dollar in the official foreign exchange (FX) market on the influence of the Central Bank of Nigeria’s (CBN) move to reset exchange rate direction.
ARM Securities Upgrades GTCO Target Price after Earnings Beat Investment analysts at ARM Securities Limited have raised the 12-month target price of GTCO Plc to N59.44 kobo following the financial services group’s earnings beat in the first half of 2024. In recently released audited H1:2024 results, GTCO’s gross earnings jumped by 107.04% year on year to N1.39 trillion, mainly due to the spike in interest income and non-interest related income. Specific details from the financial services warehouse revealed that interest income increased by +173.47% year on year to N617.89 billion. This significant surge was propelled by high interest rate environment…
In contrast to expectations, Nigeria’s fixed income market strengthened amidst concerns over the direction of the yield on local assets, analysts said.
FG to Pay Accrued Pensions Shortly – PenCom The National Pension Commission (PenCom) has assured that all outstanding pension liabilities will be paid soon. Ms Omolola Oloworaran, Acting Director-General, PenCom, gave the assurance at a workshop on the Online Enrolment Application for Pension Desk Officers (PDOs) of Treasury-funded Ministries, Departments and Agencies (MDA) of the Federal Government. Oloworaran noted that concerted efforts by critical stakeholders had reached advanced stage, to clear all the Federal Government’s outstanding pension liabilities under the Contributory Pension Scheme (CPS). She said that the efforts put in place would also provide lasting solutions that would address…
The average on Nigerian Treasury bills increased in the secondary market as investors continued to dump the short term borrowing instruments. Investors’ moods swung due to sustained spot rates decline at the primary market.
The interbank rates slid as bullet payments from matured OMO bills and inflows from FGN bond coupons boosted the liquidity level in the financial system….