- OpenAI Says Model Goes Rogue, Hacks AI Startup Hugging Face
- EU Aims to Remove Barriers to Bank Competitiveness -Fitch
- Transcorp Plc Posts N54bn Profit in H1 2026
- Naira Rises as Interbank FX Turnover Hits $416m, Deals Surge
- Senate Moves to Regulate, Coordinate Foreign Aid, Grants, Donations
- NGX Index, Market Cap Slump as Equities Investors Lose N801bn
- NCC, African Regulators Push Stronger Collaboration for Smarter Digital Governance
- Anthropic to Support UK FCA’s Supercharged Sandbox
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.
There are only two ways to make money: you can earn it by working or you earn it by investing in people, businesses, or any other window that allows you to share profits.
Ogun Workers to Receive N77, 000 as Minimum Wage –Official Gov. Dapo Abiodun of Ogun has approved N77, 000 as the minimum wage for the lowest worker in the state, with the payment taking immediate effect. This was disclosed in a statement by the Chief Press Secretary to the Governor, Lekan Adeniran, on Monday in Abeokuta. According to the statement, the decision was revealed after a meeting of the state government led by the Secretary to the State Government (SSG), Mr Tokunbo Talabi, and the leadership of the organised labour in the state. The organised labour at the meeting comprised…
OPEC Slashes Global Demand Forecast as Daily Output Falls The Organisation of Petroleum Exporting Countries (OPEC) has forecasted a slowdown in global demand for crude oil as the group reported a 2.1% decline in its own output for Sept. 2024. In its monthly report, the oil group revealed that output decreased by 2.1%, or by 604,000 barrels per day (bpd), in September to average 26.04 million bpd, according to OPEC’s monthly oil market report released on Monday. Crude oil output rose mainly in Iran, while production experienced the biggest fall in Libya. Production in Iran increased by 21,000 bpd, whereas…
Aradel Holdings Plc listed 4.34 billion shares on the Main Board of the Nigerian Exchange Ltd.(NGX) to leverage the capital market for future growth and expand its operations.
Nigerian Bond Yield Steady at 19.10% Ahead Inflation The average yield on Nigerian government bond was steady due to thin transactions recorded in the secondary market at the beginning of the week. Investors are repositioning their portfolio as the Debt Management Office (DMO) has reduced bond supply at the primary market auctions. The debt office has achieved 80% of the borrowing targets from bond sales as part of efforts to provide funds for the government to finance the 2024 budget deficit. At the end of trading session on Monday, fixed interest securities traders said in their separate notes that the…
Transcorp Power Plc grew profit by 186% year on year to N58.5 billion at the end of the third quarter of financial year 2024, from N20.4 billion in the comparable period in 2023.
Moody’s Upgrades Ghana’s Ratings, Changes Outlook to Positive Moody’s Ratings has upgraded Ghana’s long term local and foreign currency issuer ratings to Caa2 from Caa3 and Ca and changed the outlook to positive from stable. In a rating note, Moody’s stated that the main driver of the upgrade to Caa2 is Ghana’s extensive debt treatment that has provided meaningful relief to the government’s finances. “Since seeking relief through the G20 common framework for debt treatment in 2022, the government of Ghana restructured local currency debt and debt owed to bilateral official-sector creditors and concluded the exchange of eurobonds on 9…
Money market rates rose further on the back of liquidity stress in the financial system.
Naira Appreciates Slightly as FX Liquidity Shortage Eased The naira exchange rate improved slightly in the forex market amidst rumour, expectation that the Central Bank of Nigeria (CBN) may not resume retail Dutch auctions again. Spot data from the FMDQ platform showed that the Naira appreciated by 0.16%, closing at ₦1,622.57 per US dollar at the official market. In the Parallel market, the Naira closed at ₦1,675 to the US dollar. Demand for foreign currency continues to overshadow FX liquidity, leaping exchange rate movement tight across the markets. The gap between official and parallel market rates had crossed N120 in…
Kwara Announces N100m Support for Kaiama Boat Mishap Victims Kwara State Governor AbdulRahman AbdulRazaq has announced N100 million in support for the victims of the recent boat mishap involving up to 200 people from Kaiama local government area. The Governor announced the support on Thursday during a visit to the Emir of Kaiama Alhaji Omar Mu’azu (Kiyaru IV). Governor AbdulRazaq again commiserated with the Emir and the people of Kaiama, saying the incident again underscored the reason for more institutional checks on water travel. He also conveyed the condolences of President Bola Tinubu to the monarch and the people of…