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.

Moody’s Upgrades Ghana’s Ratings, Changes Outlook to Positive

Inside Africa

Moody’s Upgrades Ghana’s Ratings, Changes Outlook to Positive Moody’s Ratings has upgraded Ghana’s long term local and foreign currency issuer ratings to Caa2 from Caa3 and Ca and changed the outlook to positive from stable. In a rating note, Moody’s stated that the main driver of the upgrade to Caa2 is Ghana’s extensive debt treatment that has provided meaningful relief to the government’s finances. “Since seeking relief through the G20 common framework for debt treatment in 2022, the government of Ghana restructured local currency debt and debt owed to bilateral official-sector creditors and concluded the exchange of eurobonds on 9…

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Naira Appreciates Slightly as FX Liquidity Shortage Eased

MarketNews

Naira Appreciates Slightly as FX Liquidity Shortage Eased The naira exchange rate improved slightly in the forex market amidst rumour, expectation that the Central Bank of Nigeria (CBN) may not resume retail Dutch auctions again. Spot data from the FMDQ platform showed that the Naira appreciated by 0.16%, closing at ₦1,622.57 per US dollar at the official market. In the Parallel market, the Naira closed at ₦1,675 to the US dollar. Demand for foreign currency continues to overshadow FX liquidity, leaping exchange rate movement tight across the markets. The gap between official and parallel market rates had crossed N120 in…

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Kwara Announces N100m Support for Kaiama Boat Mishap Victims

MarketNews

Kwara Announces N100m Support for Kaiama Boat Mishap Victims Kwara State Governor AbdulRahman AbdulRazaq has announced N100 million in support for the victims of the recent boat mishap involving up to 200 people from Kaiama local government area. The Governor announced the support on Thursday during a visit to the Emir of Kaiama Alhaji Omar Mu’azu (Kiyaru IV). Governor AbdulRazaq again commiserated with the Emir and the people of Kaiama, saying the incident again underscored the reason for more institutional checks on water travel. He also conveyed the condolences of President Bola Tinubu to the monarch and the people of…

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FG Targets 60% in Value Addition of Nigeria’s Raw Material

MarketNews

FG Targets 60% in Value Addition of Nigeria’s Raw Material The Federal Government (FG) says it is set to achieve a target of 60 percent value addition in raw materials from the current 25 percent. Uche Nnaji, Minister, of Innovation, Science and Technology (FMIST), said this on Wednesday at a dialogue session organized by Raw Materials Research and Development Council (RMRDC) in Abuja. The presentation and dialogue session had science and technology stakeholders, strategic donor agencies, and development partners in attendance. Nnaji said that achieving the 60 percent goal represented a bold vision for Nigeria’s future, where raw materials are…

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NACCIMA Raises Concerns Over Petrol Price Hike

MarketNews

NACCIMA Raises Concerns Over Petrol Price Hike The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has expressed concern over the increase in petrol pump prices in Lagos and Abuja. Mr Dele Oye, National President, NACCIMA, made this known in a statement on Wednesday in Lagos. Oye said that the prices, which had reached N998 and N1,030 per litre respectively, were placing a strain on businesses and households across the country. He spoke on the potential economic consequences of the price hike, warning that the increase could lead to higher transportation costs, exacerbate inflation and severely impact…

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Interbank Rates Dip as Liquidity Pressure in Financial Market Eased

MarketNews

Interbank Rates Dip as Liquidity Pressure in Financial Market Eased Interbank rates declined in the money market due to the latest inflows that saturated the financial system. Rates remained in double digits high due to a weak funding profile. Investment banking firms reported that the liquidity level in the financial system has been closing net short persistently in the past week. When market liquidity closed negative at -N1.4 trillion on Friday, Call, overnight, and repo rates closed within the range of 8% – 32.8%, according to Coronation Research. According to a slew of analysts, the financial liquidity would remain under…

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