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.

Nigerian Government Bond Yield Shrinks to 18.77%

Financial Market

Nigerian Government Bond Yield Shrinks to 18.77% The average yield on the Federal Government of Nigeria (FGN) bond declined slightly in the secondary market amidst tight supply of the debt asset. Investors go bullish on the naira on the back of recent economic growth and expectations that inflation will continue to decline in 20224. MarketForces Africa gathered that the Debt Management Office (DMO) is gearing to conduct its monthly primary market auction, where it is expected to sell additional securities to investors in September. Nigeria’s debt office offered N190 billion worth of FGN bonds in the primary market auction. The…

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NLC Demands Reversal of New Pump Price of Petrol

Uncategorized

NLC Demands Reversal of New Pump Price of Petrol The Nigeria Labour Congress (NLC) has called for the immediate reversal of the new price increase in pump price of petrol across the country. The Congress made the demand in a statement issued on Tuesday in Abuja by its  President, Mr Joe Ajaero and made available to newsmen. The Nigerian Petroleum Corporation Ltd. (NNPCL) on Tuesday morning, reportedly directed increase in its pump price of between N568 – N617 per litre to N855 – N897 per litre, depending on the area. Although, the company had denied issuing the directive, checks at…

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Nigerian Breweries Obtains SEC Approval to Commence Rights Issue

MarketNews

Nigerian Breweries Obtains SEC Approval to Commence Rights Issue Nigerian Breweries Plc has obtained approval from the Securities and Exchange Commission (SEC) to commence its 22.607 billion ordinary shares of 50k each at N26.50 per share rights issue. Mr Uaboi Agbebaku,Company Secretary of Nigerian Breweries, confirmed this in a disclosure sent to the Nigerian Exchange Ltd.(NGX)on Tuesday in Lagos. “Nigerian Breweries has obtained the approval of SEC to commence the company’s Rights Issue of 22.607 billion ordinary shares of 50k each at N26.50 per share, “he said. Agbebaku said that following the approval, the offer opened on Monday and would…

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Investors Ramp Up Treasury Bills as Market Speculates on Rates Cut

Financial Market

Investors Ramp Up Treasury Bills as Market Speculates on Rates Cut The average on Nigerian Treasury bills declined in the secondary market ahead of the primary market auction (PMA) as investors increased their position on the expectation that spot rates on standard offers would fall. Due to speculation that the monetary authority would adjust spot rates across standard maturities at the primary market auction, fixed income assets traders increased their Treasury bills buying in the secondary market. The market saw the average mid-rate nosediving due to sparling interest in bills across the short end, belly and long tenors. The average…

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Money Market Rates Rise Sharply as OMO Debit Drags Liquidity

MarketNews

Money Market Rates Rise Sharply as OMO Debit Drags Liquidity The short-term benchmark interest rates increased sharply in the money market due to huge outflows associated with open market operations (OMO bills) auction payments that left the financial system on Tuesday. Rates reacted negatively to reduce liquidity level as reflected in share increase in Nigerian interbank offered rate.. The net balance in the financial system declined to N322 billion on Tuesday, analysts at Futureview Financial Limited said in an emailed note to investors. Investment bankers at Cowry Asset Limited said the interbank offered rate rose sharply by 2.68% to 23.71%,…

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Naira Depreciates ‘Back2Back’ Amidst Nigeria’s $6bn Oil Debt

FX Market

Naira Depreciates ‘Back2Back’ Amidst Nigeria’s $6bn Oil Debt The naira has seen back-to-back depreciation across foreign currency markets due to sustained US dollar demand pressure. A slew of currency analysts have predicted a bleak outlook for the naira following confirmation of $6 billion in debt owed by Nigerian National Petroleum Corporation Limited to fuel suppliers. The obligation is expected to put pressure on the nation’s external reserves. Recall that the Federal Government directed revenue generated by the privatised state oil company to the Central Bank of Nigeria (CBN). NNPCL also arranged an oil back loan of more than $2.2 billion…

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