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- 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.
Nigeria’s US dollar bond yield climbed to 9.70% as bearish sentiment nudged the yield curve despite a mixed outing…
Awele Elumelu Calls for Increased Female Leadership in the Insurance Sector. At the recently concluded International Conference for Women in Insurance, Dr. Awele V. Elumelu, OFR, Chairperson, Heirs Insurance Brokers (a member of Heirs Insurance Group), and Chairperson Avon HMO, joined other female business leaders in the call for gender parity and more women in leadership in Nigeria’s insurance industry. Held at the Lagos Continental Hotel, the conference was organised by the African Insurance Women Association (AIWA) and gathered industry professionals, policymakers, and advocates to discuss ways to advance women’s participation in insurance and at the helm of leadership. Heirs…
FG Begins Disbursement of N75bn Single Digit Loan to MSMEs The Federal Government has commenced the disbursement of N75 billion in single digit loans to micro, small, and medium enterprises (MSMEs) through the Bank of Industry (BOI). Mr Tola Adekunle-Johnson, the Senior Special Assistant to the President on Job Creation and MSMEs, made this known in Abuja at a nationwide town hall meeting to sensitise MSMEs to the Presidential Grant and Loan Scheme. Adekunle-Johnson explained that the town hall meeting was going on simultaneously in Ogun, Bauchi, Enugu and Kaduna states with a view to educate MSMEs on the conditions…
Banking index rose by 3.16% as the Nigerian Exchange (NGX) reversed downward trend with investors
The Nigerian naira appreciated in the official window as foreign reserves surged to approximately $40 billion
NGX Rises by N131bn as Selloffs Pressures Pause The Nigerian Exchange (NGX) market capitalisation rose by about N131 billion as selloffs pressure paused after six consecutive negative price movements. The equities market recorded first gain on Tuesday, reversing the negative trend with key performance indicators rising by 0.22%. Consequently, the Nigerian All-Share Index added 215.63 basis points in today’s trading session, reflecting a 0.22% increase to close at 97,123.61. The market witnessed investor interest in some CONOIL, UBA, ZENITHBANK, and others. Stockbrokers said trading activities in the market increased today as investors sentiment improved. Total volume and total value traded…
IMF Raises Ethiopia’s International Reserves Target After First Review The International Monetary Fund has raised Ethiopia’s net international reserves target to facilitate payments of upcoming hard currency bills. The East African nation secured a 3.4 billion dollars four-year financing programme from the IMF in July after carrying out a series of reforms, including floating its birr currency. It is also in the midst of a fresh push to put its debt restructuring back on track. “An increase in near-term target is warranted by Ethiopia’s vulnerabilities and heightened uncertainty around the outlook,” the IMF said in a report published late Monday.…
Q3 2024: Veritas Kapital Grows Profit by 117% to N2.34bn Veritas Kapital Assurance Plc has grown its profit after tax to N2.339 billion for third quarter 2024 financial year. The figure represents a 117 per cent increase, year-on-year, from the N697.8 million re-recorded in the same period of 2023. Dr Adaobi Nwakuche, Managing Director, Veritas Kapital Assurance, said this in a statement on Monday in Lagos. Nwakuche said that the underwriter’s net insurance and investment results for the quarter under review increased by 168 per cent, reaching N4.030 billion. She stated that the insurance revenue of the company expanded by…
Mining Cadastre’s Revenue Hits N8.1bn in October The Director-General (D-G) of Nigeria Mining Cadastral Office (MCO), Obadiah Nkom, says the office has generated N8.1 billion revenue since January. Nkom disclosed this while welcoming the Senate Committee on Solid Minerals led by its Chairman, Sen. Sampson Ekong, on an oversight visit to the NMCO headquarters on Monday in Abuja. He described the revenue as a record-breakimg achievement, marking a substantial rise in earnings for the agency. He said that the surge reflected the country’s strengthened commitment to diversifying its economy through the solid minerals sector and improving its mining sector’s regulatory…
The value of the naira sank against the US dollar at Nigeria’s autonomous foreign exchange (FX) market as demand