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.

Naira Plummets as Markets Price in Zero FX Intervention

MarketNews

Naira Plummets as Markets Price in Zero FX Intervention The naira plummeted as conditions in the foreign exchange (FX) market worsened across the currency markets. The local currency weakened sharply after it moved to reclaim value against the US dollar. According to FX spot data from the FMDQ platform, the naira depreciated by 3.61% against the US dollar, closing at ₦1,637.59 per dollar. The huge daily depreciation of the local currency suggests mounting pressure from the demand side. US dollar demand in Nigeria has continued to run ahead of foreign currency supply in FX market post naira devaluation. Some critics…

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FBN Holdings Clarifies on Divestment of FBNQuest Merchant Bank

News

FBN Holdings Clarifies on Divestment of FBNQuest Merchant Bank FBN Holdings Plc,on Tuesday explained the rationale behind the divestment of its Merchant Banking business to EverQuest Acquisition LLP. The Holding company also listed its other entities and businesses not included in the sale. Mr Adewale Arogundade, Acting Company Secretary of the Holdings made the clarification in a notification sent to the Nigerian Exchange Ltd.(NGX) in Lagos. A divestment involves a company selling off full or partial stake of its assets through sale, exchange, closure, or bankruptcy, often to improve the company’s value and obtain higher efficiency. Many companies use divestment…

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MTN, OANDO Drive N343bn Gain in Nigerian Stock Market

MarketNews

MTN, OANDO Drive N343bn Gain in Nigerian Stock Market Equities investors gained N343 billion in the stock market due to fresh demand for MTN Nigeria shares, and seemingly unending buying interest in Oando Energy PLC.  Due to buying interest in the telecom and oil stocks, the key performance indicators climbed by 0.62%. The market index, or All-Share Index, climbed by 596.34 basis points today, reflecting a 0.62% increase to close at 96,802.80. The market rebound from loss sustained yesterday was driven by investor buying interest in some medium and large Cap stocks. The market movers include OANDO, MTNN, UCAP and…

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