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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.
The naira depreciated against the US dollar in the official market due to insufficient FX liquidity to meet foreign currency demand. The local currency has been struggling to keep value amidst increasing demand for a preferred foreign currency, the US dollar.
The Federal Government, through the Debt Management Office (DMO) has offered two FGN bonds valued at N120 billion for subscription through auction.
Naira Plummets, CBN Intervenes in FX Market 3 Times The Nigerian naira lost against the dominant U.S. dollar across foreign exchange markets despite the fact that the Central Bank (CBN) conducted FX intervention sales three times in a week. The local currency depreciated by 33 basis points week on week to close at N1,540 per US dollar, with transactions settling between N1,520 and N1,549 in the autonomous FX market. Strong demand for foreign currency in the official window caused the naira to lose N5 on each US dollar traded. Forex market liquidity was strong, albeit insufficient to give the local…
PenCom Chief Expects Pension Assets to Hit N22trn Omolola Oloworaran, the Director-General (DG) of the National Pension Commission (PenCom), says the commission is projected to close the year with over N22 trillion in pension assets. Oloworaran said this at a press conference in Abuja on Thursday. The conference, with the theme “Tech-driven Transformation Shaping the Pension Landscape”, showcased PenCom’s strategic commitment to innovation. According to the D-G, as at October the Contributory Pension Scheme (CPS) had 10.53 million registered contributors and pension fund assets worth N21.92 trillion. She said that the numbers reflected PenCom’s unwavering commitment to fund safety, prudent…
Dual-listed Seplat Energy Plc has completed the acquisition of Mobil Producing Nigeria Unlimited from ExxonMobil, according to a regulatory filing posted on the Nigerian Exchange (NGX).
Access Bank Plc has entered into a binding agreement with South African-based Bidvest Group Limited for the acquisition of a 100% equity stake in Bidvest Bank Limited, according to an official statement.
The naira rate plunged against the dominant U.S. dollar in the official wndow as data showed that FX turnover at the Nigerian autonomous foreign exchange market (NAFEM) fell by 14%.
Liquidity: Banks Raise N1.54Trn from CBN to Fund Operations Some of the Nigerian banks that were liquidity stressed raised N1.28 trillion from the Standing Lending Facility (SLF) of the Central Bank (CBN) to meet funding requirements. Liquidity levels in the money market plunged following the settlement of the OMO auction conducted by the CBN on Monday. The debits for primary market auction sales have been major drivers of outflows from the system. Banks have been investing heavily in government borrowing instruments on the back of an elevated yield in the fixed income market. The inflows and outflows relating to these…
Gov. Monday Okpebholo of Edo on Tuesday presented N605.7 billion budget estimates to Edo House of Assembly for the 2025 fiscal year, representing a 25 percent increase from the 2024 budget.
The US dollar rose against its major trading partners early Tuesday ahead of the release of sales and consumer inflation