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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.
Investors increased bets on Nigerian OMO bills in the secondary market amidst rising interest rates on Naira assets.
Oando Jumps by 451% in Q3-2024 on Successful Acquisition Investors’ attention has been drawn to Oando Energy Plc, one of Africa’s top providers of energy solutions, on account of the group’s acquisition taste, which began in 2014 with ConocoPhillips. In a latest rally, Oando Plc gained about 451% in the third quarter of 2024 due to investors’ healthy sentiment in the stock market, CardinalStone Securities Limited dropped the hint in a note. “On a quarter-on-quarter basis, the all-share index lost 1.50%…OANDO gained +450.67% and led the gainers’ list, the firm stated. Trading data showed that the indigenous oil company share…
Caverton Offshore Support Group Plc topped the list of best performing stocks on the Nigerian Exchange in September, according to stockbrokers notes.
GCR Affirms Sterling Bank Rating with Stable Outlook GCR Ratings has affirmed Sterling Bank Limited’s national scale long- and short-term issuer ratings of BBB (NG) and A3 (NG), respectively. According to a rating note, the rating agency concurrently affirmed Sterling Investment Management SPV Plc’s N32.89 billion Series 2 Fixed Rate Senior Unsecured Bond rating of BBB-(NG), with a stable outlook. The national scale long- and short-term issuer ratings of Sterling Bank Limited reflect the strengths and weaknesses of the non-operating consolidated group, Sterling Financial Holding Company Plc, GCR said. The group comprises Sterling and The Alternative Bank, while the latter…
It has been long since the equities market witnessed an impactful dividend surprise by a banking group until UBA Group played a fresh dividend payment card that put its rivals into checkmate.
Interbank rates dropped as liquidity pressures in the financial system eased on Monday.
Naira Mixed as Nigeria’s External Reserves Cross $38 Billion The Nigerian local currency, the naira, traded on a mixed note across the foreign exchange market on Monday (FX) as gross balance in external reserves crossed $38 billion. According to data from the Central Bank portal, Nigeria’s foreign reserves increased to $38.058 billion from $37.868 billion. The sustained US dollar inflow into the foreign reserves has raised hope of further FX intervention as mounting pressure keeps the naira at the edge. According to FX spot data from the FMDQ platform, the naira depreciated by 0.08%, closing at ₦1,541.94 per US dollar…
UBA, OANDO Drive Nigerian Exchange Higher by N58bn Positive price movement in UBA, Oando Plc drove equities market capitalisation of the Nigerian Exchange (NGX) higher by about N58 billion at the beginning of the new week. The market closed positive, inspired by upticks in OANDO (+9.84%), UBA (+9.90%) and ACCESSCORP (+5.64%), which outweighed selloffs in BUACEMENT (-3.42%) FBNH (-4.09%). The bargain hunting on banking names, and other indexes resulted in the NGX All-Share index inching upwards by 0.10% to print at 98,558.79 points. Trading activities in the equities market ended on a mixed note as the total volume traded for…
Ecobank, the leading pan-African financial services group, announced Daba Finance, the Ivorian Fintech, as the Grand Winner of its flagship Ecobank Fintech Challenge 2024.
Moody’s Ratings (Moody’s) has changed the outlook on the Government of Togo to stable from negative, and affirmed the B3 domestic and foreign currency long-term issuer ratings.