- Crude Oil Prices Decline on Renewed US-Iran Negotiations
- U.S. Dollar Index Slips Ahead of Key Economic Data
- 10-Year U.S. Treasury Yield Hovers Below 5%
- Nigeria Money Market Braces for ₦800bn Treasury Bills Auction
- Excess Liquidity in Banking System Rises to N6.94trn, Rates Mixed
- Fitch Affirms Ireland at ‘AA’ Rating with Stable Outlook
- DMO Raises N2trn from Bonds to Fund Nigeria’s Budget Deficit
- XRP Rises as Investors in Korean Markets Bet on Altcoins
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.
FirstHoldco Reaches N1.05trn Amidst Low Dividend Payment FirstHoldco Plc’s market value reached N1.051 trillion as shareholders approved the payment of a 60 kobo dividend per share for 2024 – the lowest among its immediate rivals in the tier-1 banking category. The bank shareholders approved 60 kobo per share at the annual general meeting last week on a stock price of N25.1, an amount that is the lowest offer compared with GTCO, Zenith Bank, and other rivals. Its chairman, Femi Otedola, announced that personal investment in the holdings has reached N320 billion – a company that is worth N1.05 trillion in…
Nigeria’s Top 5 Banks Market Value Falls Below N8 Trillion The combined market value of Nigeria’s top five big banks fell below N8 trillion in the stock market due to profit-taking activities that dragged the index lower last week. The top lenders’ combined equities market capitalisation settled at N7.952 trillion on Friday, trading data from the Nigerian Exchange (NGX) revealed. According to data obtained from the local bourse, the tier-1 bank category lost more than N86 billion as three out of five member banks experienced sell pressures. These banks reported strong earnings performance in the first quarter of 2025, except…
Naira Strengthens on FX Intervention, Dealing Banks Get $190m The Nigerian naira rose against the US dollar in the official window as the Central Bank strengthened market supply with FX intervention sales to authorised dealer deposit money banks. The exchange rate closed at N1580 in the official window of the Central Bank of Nigeria in an all-week positive movement supported by sufficient dollar supply. Hence, the naira appreciated by 1.14% to close at N1,580.44 per dollar amid improved supply and steady market activity. Early in the week, the CBN intervened with a total of $190.4 million, Lagos-based investment firm AIICO…
MTN Nigeria Sheds N168bn amidst Offshore Investors Dealings Telecommunication company MTN Nigeria Plc.’s market value declined by about N168 billion in the equities segment of the Nigerian Exchange (NGX) amidst buckets of buy ratings from equities analysts. The telecom company’s share price declined by less than 3% to close at N270 on Friday as investors traded 15.872 million units valued at N4.298 billion in the market. Due to activities of sell-side actors in the local bourse, MTN Nigeria’s share price declined by N8 week on week, having opened at N278 at the beginning of the trading sessions last week. According…
Dangote Cement Valued at N7.4trn Ahead of N30 Dividend Payment Dangote Cement Plc market value steadied at N7.424 trillion in the equities market ahead of June 23 dividend payment, details from the Nigerian Exchange (NGX) rtrading platform evealed. The cement company said in a regulatory filing that “if shareholders at annual general meeting approved the dividend recommended by the directors, dividends will be paid on June 23, 2025”. The cement company’s board of directors proposed to pay shareholders N30 per share as dividend for 2024 earnings performance. The huge part of the total dividend proposed will be paid to Dangote…
Reduced European Gas Prices to Prompt Storage Refill –Fitch Reduced Title Transfer Facility (TTF) gas prices should support the replenishment of European inventory ahead of the next winter season, benefitting some energy-intensive industries such as chemicals and steel, Fitch Ratings says. The pause in new US-China tariffs might provide some support to prices, but Fitch analysts continue to expect the TTF spot price to average USD12 per thousand cubic feet (mcf) in 2025. The price has averaged USD13.4/mcf so far this year, according to the commentary note released. TTF prices fell to USD12.5/mcf this week from a peak of USD18/mcf…
Oil Market Closed Negative on Increase Supply Concerns Oil prices are on track for a weekly decline in the global commodity market, pressured by reports suggesting the OPEC+ alliance may raise production, rising US crude inventories, and the resumption of nuclear negotiations between the US and Iran. The international benchmark Brent crude was trading at $63.85 per barrel on Friday, marking a fall of around 1.7% from last week’s closing price of $64.93. Similarly, the American benchmark West Texas Intermediate (WTI) traded at $60.92 per barrel, down approximately 1.5% from last Friday’s close of $61.88. Despite the modest daily gains,…
Oil Prices Decline Amidst Supply, Demand Concerns In the global commodity market, prices of crude oil continue to pull back due to concerns over increased output from the Organisation of Petroleum Exporting Countries and allied members amidst a weak demand outlook. International benchmark Brent crude decreased by around 0.2%, trading at $63.50 per barrel, down from $63.63 at the previous session’s close. Similarly, US benchmark West Texas Intermediate (WTI) fell by about 0.2%, settling at $60.58 per barrel, compared to $60.69 in the prior session. The OPEC+ group is expected to consider an output hike at its June 1 meeting.…
Naira Rises on CBN FX Swap Arrangement with Banks The naira appreciated at the official market, buoyed by the Central Bank of Nigeria (CBN) liquidity intervention through FX swap arrangements with domestic banks, analysts said in a note without mentioning the total amount that passed through the system. At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira strengthened by 0.38% to close at N1,584.50 per US dollar, according to Cowry Asset Management Limited. In the parallel market, the local currency declined by 0.31%, ending the day at N1,620 per dollar. The CBN FX spot rate slipped slightly to 1584.95…
Funding Rates Diverge Amidst Treasury Bills Auction Debit The funding rates diverged due to liquidity fluctuation following the Nigerian Treasury bills midweek auction settlement. Money market rates have been relatively steady following huge inflows worth N1.14 trillion from OMO bills maturities. This caused rates on short term financing to hover behind 27%, though some banks were in the Central Bank standing lending facility earlier in the week to borrow to fund operations. Liquidity stayed positive despite debit for Nigerian Treasury bills and OMO bills offered on Tuesday. At the close of trading session on Thursday, the Nigerian Interbank Offered Rate…