- 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.
Zenith Bank Profit Grows by 90.5% to N827 Billion Zenith Bank Plc profit has increased by 90.5% year on year to N827.2 billion in 12 months, according to details from its financials submitted on the Nigerian Exchange. In its unaudited 9M-2024 financial statement, Zenith Bank Plc pretax profit reached an all-time high level of N1 trillion, which was +98.5% above N505.1 billion recorded in the equivalent period in 2023. The significant improvement in earnings performance in the period stem from its core operations, despite cost pressures from interest paid to fund providers, impairment charges, and operating expenses. Details from its…
Prices of crude oil climbed on Thursday as economic activity in China began to pick up. The international oil benchmark….
Aradel Holdings Plc grew profit after tax by more than 169% to $88.825 million, according to details from the company’s unaudited financial statement
African Eurobonds have been heated up with increased demand as some central bankers began to slide rates….
Russia Fines Google $2.5 Decillion Over YouTube Bans Russia has fined Google a world record-breaking fine of $2.5 decillion after years of refusing to restore the accounts of pro-Kremlin and state-run media outlets, the RBC news website reported, citing an anonymous source familiar with court rulings against the tech company. According to RBC’s sources, Google began accumulating daily penalties of 100,000 rubles in 2020 after the pro-government media outlets Tsargrad and RIA FAN won lawsuits against the company for blocking their YouTube channels. Those daily penalties have doubled each week, leading to the current overall fine of around 2 undecillion…
Stable liquidity balance in the financial system kept movement of money market rates in check.
Senate Confirms 7 Ministerial Nominees The Senate has confirmed the appointment of seven ministerial nominees forwarded to it by President Bola Tinubu. The nominees were confirmed after hours of screening during the Senate plenary on Wednesday. However, some of them who had served the country in different capacities in the past, and were confirmed by the Senate were simply asked to introduce themselves and take a bow and go. The ministerial appointees who were screened and confirmed are: Dr Nentawe Yilwatda, Minister of Humanitarian Affairs and Poverty Reduction, Muhammadu Dingyadi, Minister of Labour and Employment and Bianca Odumegwu-Ojukwu, Minister of…
The Nigerian Exchange (NGX) market capitalisation lost by more than N21 billion due to sell pressure on MTN Nigeria, PZ Cussons and Jaiz Bank among others.
Senate Passes NDIC Bill to Safeguard Bank Depositors’ Fund The Senate at plenary passed a bill to strengthen the capacity of the Nigeria Deposit Insurance Corporation’s (NDIC) to safeguard depositors funds and strengthen financial institutions in Nigeria. This followed the adoption of the report of the Senate Committee on Banking, Insurance, and Other Financial Institutions on the bill titled “Nigeria Deposit Insurance Corporation Act 2023″. The bill was sponsored by Sen. Adetokunbo Abiru (APC-Lagos) and all the members of the Committee. Abiru while presenting the report said the bill would make the NDIC, more effective, safeguard its independence, autonomy and…
Moody’s Ratings has revealed that deposit money banks hold unknown quantities of legacy exposures after the Central Bank of Nigeria’s (CBN) forbearance that was granted during COVID-19.