- Cardano Price Drops to $0.21 as Selloffs Hit Altcoins
- Ethereum Falls as BitMEX Co-Founder Arthur Hayes ‘Dump It All’
- Solana Drops 2.20% to $101.28 as investors liquidate Positions
- NEAR Protocol Dips 10% Over Alleged Stolen Patented Technology
- XRP Seeks Catalyst to Halt Downtrend, Breaks Below $1.30
- Bitcoin Drops to $80.5k on Spot ETFS Outflows, AI Stocks Rout
- Naira Touches N1,395 to US Dollar as FX Order Book Surges
- Nigeria’s Gas Reserves Rise 3% to 215.29 Trillion Cubic Feet
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 Nigerian Exchange All Share Index (NGXASI) is trending positively during early trading hours due to renewed demand in Oando Energy
The interbank rates sank deeply as the liquidity level in the financial system increased significantly week on week after inflows from Remita and Federal Government of Nigeria (FGN) bond coupon payments hit the system.
Eunisell Soars by 46% Ahead of Shareholders Meeting An engineering and technology solution company, Eunisell Interlinked Plc, has surged further with more than 46% price appreciation over the last five trading session on the Nigerian Exchange. Transaction details revealed that the technology services company share price is becoming more expensive each day for new entry compared with investors who had taken an early positions. The increased demand for the company stock has caused market to rerate its valuation higher to N11.99 per share from N8.20 in the comparable week. This lifted the tech solution company’s market value to about N2.84…
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.