- Iran Proposes 7-day Plan to Reopen Strait of Hormuz
- Ethereum Price Drops on Rising U.S. Treasury Yields
- Crude Oil Prices Decline, Brent Hovers Below $106
- South African Rand Weakens after Reserve Bank Hikes Repo Rate
- U.S., European Equities Markets Stifle on Weak Risk Asset Bets
- XRP Rises on Spot ETF Accumulation, Inches Near Target Price
- Bitcoin Hovers at $84k as Morgan Stanley Boosts Holdings
- Nigeria Records Gains Against Illicit Finance, Asset Recovery – CISLAC
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.
As the government continues to borrow, Nigeria’s debt clock is predicted to accelerate even more. Total debt to gross domestic product (GDP) is estimated to settle at 54.6% at the end of 2024, analysts at Cordros Securities said in a commentary note.
Commissioner Debunks Illegal Mining Claims in Kebbi Alhaji Haliru Aliyu-Wasagu, Kebbi Commissioner for Solid Minerals Development and Mining has debunked a media report that the state government was supporting illegal mining activities in the state. Addressing a press conference in Birnin Kebbi on the matter, Aliyu-Wasaguthe described the report as fake, malicious and a calculated attempt not only to tarnish the image of the present administration but also to distract its attention from the developmental strides. He said: “The briefing is to categorically debunk a recent online report published by www.truthng.com which falsely alleges that the Kebbi Government is supporting…
GCR Ratings has affirmed AIICO Money Market Fund’s national scale fund rating of A+(NG)(f) with the outlook revised to positive from stable. AIICO Money Market Fund, an open-ended collective investment scheme, is actively managed by AIICO Capital Limited.
Crude oil prices declined in the global commodities market over supply glut concern, in line with the World Bank’s latest prediction. In the global market, crude oil prices dropped during early hours as International Energy Agency (IEA) reported a rise in global oil production
Africa’s Global Bank, United Bank for Africa (UBA) Plc, will raise N239.4 billion through a Rights Issue of 6,839,884,274 ordinary shares of 50 kobo each at N35.00 per share.
Oando, BUA Cement Drive Intraday Loss on NGX Sell pressures in Oando Energy and BUA Cement, including banking names like Access Holdings, Zenith Bank, and FBN Holdings, have plunged the Nigerian Exchange (NGX) index lower during the intraday trading session. The selloff experience was basically on stocks, which saw positive price movement, though BUA cement has become a target for sell-side actors in the equities market to take profit amidst unimpressive earnings performance. The market has continued to pullback previous rally carpet underneath Oando Energy after the indigenous oil company released earnings on the Nigerian Exchange and Johannesburg markets. Naira…
Bitcoin price is trading above $90,000 early on Thursday across cryptocurrency exchanges over swinging trading patterns post U.S election victory. The largest cryptocurrency has since the U.S election gained 30% as retail investors continue to take position on Donald Trump pledge to boost regulation.
Nigeria’s Eurobonds Yield Rises 7bps after U.S Inflation Jumps Average yield on Nigerian Eurobond rose by 7 basis points (bpd) as foreign portfolio investors trimmed down their interest in the international market trading platform as sentiments wane. The portfolio rebalancing started after U.S. inflation surged by 20 basis points to 2.6% in October, sending a mixed signal on Federal Reserve rate cut outlook. In Nigeria’s sovereign Eurobonds segment, the market saw increased sell pressure across the short, mid, and long ends of the yield curve. The trading pattern laced with riskoff sentiment and other market-related uncertainties pushed the average yield…
The naira exchange rate improved in the foreign exchange (FX) market midweek due to improve US dollar liquidity. According to spot data from the FMDQ platform, the naira appreciated by 2.63%, closing at ₦1,645.40 per US dollar at the official market.
NGX Sees Intraday Gain Banking, Oil Stocks Rally The Nigerian Exchange (NGX) trending positively as buy side equities investors take over trading session on Wednesday. The local bourse has shown sign of gaining, reversing riskoff sentiment seen in the previous day. The market index has climbed by 14 basis points at the time of writing. Stock analysts said this may not be sufficient to calm the negative tempest down but provides a buffer for a positive close on the day. Oando Plc that has been on loss making streak is trading positive and market gain is also supported by positive…