- 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.
Oando Rises by 10% on Plan to Release Audited Report OANDO Energy Plc added weight as the company’s market value increased by 10% as investors raised bets ahead of the third quarter earnings release and 2023 audited financial statement. The earlier announced plan to release the audited report for financial year 2023 on Oct 23, 2024, boosted investors’ sentiments and confidence. The energy company share price has begun to regain momentum as investors began to price in the company’s growth strategy. Recall that the oil stock soared significantly post acquisition of Nigerian Agip Oil Company’s oil asset from Eni. Oando…
In the equities market, investors placed about N5.2 trillion as the combined market value or worth of the Nigerian top five banks …
Zenith Bank Appoints Abiodun Durosinmi as CFO Zenith Bank has announced the appointment of Abiodun Durosinmi as its new chief financial officer, effective October 14, 2024. In a regulatory filing, the Tier-1 bank said Durosinmi’s appointment has been approved by the Central Bank of Nigeria. Mr. Durosinmi succeeds Dr. Mukhtar Adam, who has served as CFO for six years between May 2018 and October 2024, Zenith Bank told the Nigerian Exchange. The bank explained that the incoming CFO brings over 20 years of experience with Zenith Bank Plc. He has held a variety of significant roles with the Zenith Group,…
FBN Holdings Names Wale Oyedeji Group Managing Director FBN Holdings Plc has announced the appointment of Adebowale (Wale) Oyedeji as the Group Managing Director (GMD) with effect from November 13, 2024. In a regulatory filing on the Nigerian Exchange, the board said Oyedeji appointment is subject to the approval of the Central Bank of Nigeria and ratification of the Shareholders at the Annual General Meeting of the Company. Wale is expected to replace Nnamdi Okonkwo who will be retiring from the Company after the completion of his term. The group told the Nigerian Exchange that Wale holds a Bachelor of…
There are only two ways to make money: you can earn it by working or you earn it by investing in people, businesses, or any other window that allows you to share profits.
Ogun Workers to Receive N77, 000 as Minimum Wage –Official Gov. Dapo Abiodun of Ogun has approved N77, 000 as the minimum wage for the lowest worker in the state, with the payment taking immediate effect. This was disclosed in a statement by the Chief Press Secretary to the Governor, Lekan Adeniran, on Monday in Abeokuta. According to the statement, the decision was revealed after a meeting of the state government led by the Secretary to the State Government (SSG), Mr Tokunbo Talabi, and the leadership of the organised labour in the state. The organised labour at the meeting comprised…
OPEC Slashes Global Demand Forecast as Daily Output Falls The Organisation of Petroleum Exporting Countries (OPEC) has forecasted a slowdown in global demand for crude oil as the group reported a 2.1% decline in its own output for Sept. 2024. In its monthly report, the oil group revealed that output decreased by 2.1%, or by 604,000 barrels per day (bpd), in September to average 26.04 million bpd, according to OPEC’s monthly oil market report released on Monday. Crude oil output rose mainly in Iran, while production experienced the biggest fall in Libya. Production in Iran increased by 21,000 bpd, whereas…
Aradel Holdings Plc listed 4.34 billion shares on the Main Board of the Nigerian Exchange Ltd.(NGX) to leverage the capital market for future growth and expand its operations.
Nigerian Bond Yield Steady at 19.10% Ahead Inflation The average yield on Nigerian government bond was steady due to thin transactions recorded in the secondary market at the beginning of the week. Investors are repositioning their portfolio as the Debt Management Office (DMO) has reduced bond supply at the primary market auctions. The debt office has achieved 80% of the borrowing targets from bond sales as part of efforts to provide funds for the government to finance the 2024 budget deficit. At the end of trading session on Monday, fixed interest securities traders said in their separate notes that the…
Transcorp Power Plc grew profit by 186% year on year to N58.5 billion at the end of the third quarter of financial year 2024, from N20.4 billion in the comparable period in 2023.