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.

GTCO Crossed N1.7 Trillion, Q3 Profit Raised Earnings Bar

Analysis

GTCO Crossed N1.7 Trillion, Q3 Profit Raised Earnings Bar Nigeria’s multinational financial services group, Guaranty Trust Bank Holdings (GTCO) Plc, whose market value crossed N1.7 trillion, has remained steady over the last five trading sessions on the Nigerian Exchange. The most valuable Nigerian bank on the stock market saw its share price breaking series of resistance in the last quarter of 2024. The significant surge in its market value was bolstered by strong earnings beat in the first nine months of financial year 2024.  GTCO’s financial performance in the first nine months of 2024 reflects strong growth and resilience, positioning…

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Zenith Bank Nears N1.47Trn on Healthy Earnings Expectations

Analysis

Zenith Bank Nears N1.47Trn on Healthy Earnings Expectations Zenith Bank Plc market value expanded slightly near N1.47 trillion in the equities segment of the Nigerian Exchange amidst healthy earnings growth expectations. The bank’s share price increased slightly to N46.8 in the equities market in the just concluded week from the opening price of N46. At the current market price, Zenith is trading at a less than 1% discount to its 52-week high in the stock market amidst healthy earnings expectations for 2024. With an upward adjustment to its target price, equities analysts said the financial services company intends to capitalise…

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FG, States, Local Govts. Share N1.424Trn Revenue for December

News

FG, States, Local Govts. Share N1.424Trn Revenue for December A total sum of N 1.424 trillion, being Dec. 2024 Federation Account Revenue has been shared to the Federal Government, states, and the Local Government Councils (LGCs). This is according to a statement by Bawa Mokwa, Director, Press and Public Relations, Office of the Accountant General of the Federation (OAGF). Mokwa said that the revenue was shared at the January Federation Account Allocation Committee (FAAC) meeting on Friday in Abuja. Meanwhile, a communiqué from the FAAC meeting said that the N1.424 trillion total revenue comprised statutory revenue of N386.124 billion, and…

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$9.6bn P&ID Scam: I’ve No Witness to Call, Briton Tells Court

News

$9.6bn P&ID Scam: I’ve No Witness to Call, Briton Tells Court The British national, Mr James Nolan, who jumped bail in the ongoing trial linked to the alleged 9.6 billion-dollar Process and Industrial Development (P&ID) Ltd scandal on Thursday, said he does not intend to call any witness. Nolan told Justice Obiora Egwuatu of a Federal High Court in Abuja through his lawyer, Michael Ajara. The Economic and Financial Crimes Commission (EFCC), in the 20-count charge, named Micad Project City Services Limited and Nolan as 1st and 2nd defendants in the money laundering offences. Nolan and Micad Project, a company…

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Eterna Names Olumide Adeosun CEO as Lawal Resigns

News

Eterna Names Olumide Adeosun CEO as Lawal Resigns Eterna Plc has announced the appointment of Olumide Adeosun as its new Chief Executive Office and Managing Director as Abiola Lawal resigned. The company told the Nigerian Exchange Limited that the appointment takes effect from 3rd February 2025. Mr. Adeosun succeeds Mr. Lawal, who has resigned from the company with effect from 31st January 2025, according to an official statement. Mr. Adeosun has over 25 years of experience in the finance and energy sectors; a seasoned thought leader and accomplished executive. He began his career as a Business Analyst under the PricewaterhouseCoopers…

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Transcorp Power Plunges by 10% ahead of Earnings

Analysis

Transcorp Power Plunges by 10% ahead of Earnings Transcorp Power Plc plunged by about 10% in the equities market as investors exited their positions in the power-generating company’s stock ahead of the fourth quarter earnings release. The activities of the sell-side actors reduced Transcorp Power Plc to N324 midweek from N359.90, losing 9.97% of its market value in one day. The huge price decline occurred over about 267,000 shares that exchanged hands in the Nigerian bourse on Wednesday. The significant price decline dragged the power-generating company’s market value to N2.430 trillion, according to data obtained from the Nigerian Exchange. Stockbrokers…

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