- U.S. Consumer Momentum Slows as Inflation Squeezes Incomes
- Burundi Economy Improves, Inflation Sinks to 8.6% from 45% – IMF
- United Nations Urges Africa to Boost Domestic Funding
- US Dollar Hits 1-Year High on US Fed Hawkish Rates Bets
- Nigerian Exchange Sheds N2.18trn as Dangote Companies Dip
- XRP Price Dips 6.2% on U.S. Federal Reserve Rates Hike Bets
- Bitcoin Sinks 5.3% as Ark, BlackRock IBIT Lead ETF Outflow
- Nigeria Risks Remaining AI Consumer Without Local Infrastructure
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 market experienced increased demand for Nigerian treasury bills at the start of the week despite a liquidity crunch in the financial system.
Pressures on the Nigerian naira cooled off following combative measures against foreign currency whales negatively influencing the value of the local currency.
Paris 2024: Super Falcons pip Cameroon’s Lionesses 1-0 to Reach Final Round Nine-time African champions, the Super Falcons of Nigeria on Monday pipped the Lionesses of Cameroon 1-0 in a crucial second leg Women’s Olympic football qualifier after a pulsating encounter in Abuja. This was after Esther Okoronkwo’s 15th minute goal at the Moshood Abiola National Stadium, Abuja, separated Nigeria and Cameroon in a turgid 180-minute battle over two legs. The result meant Nigeria reached the final round of the African qualifying series for this year’s Women’s Olympic Football Tournament. After 105 minutes of scoreless action (90 minutes in Douala and…
Develop Export Market – Gov. Makinde Nigeria should focus on exports to improve its economy, Gov. Seyi Makinde of Oyo State said on Monday in Ibadan. “Giving priority to the development of the export market instead of focusing on production for local consumption will lift the country out of its economic woes. “One of the ways to rejuvenate the economy is to shift focus to exports instead of import substitution,’’ Makinde said while declaring open the Oyo State International Trade Fair tagged: “EXPOYO 2024’’. He noted that the rejuvenation of the economy required collective efforts to free the masses from…
FEC Approves Merging, Scrapping of MDAs The Federal Executive Council (FEC) has approved the merging, scrapping and subsuming of some Ministries, Departments and Agencies of government in line with its policy of reducing cost of governance. Hajiya Hadiza Bala-Usman, Special Adviser to the President on Policy Coordination, made this known at the end of the second FEC meeting of the year. She said that decision was based on the Steve Oronsaye Report on civil service report inaugurated under former President Goodluck Jonathan’s administration since 2014. For agencies that would undergo merger Bala-Usman said the Federal Radio Corporation of Nigeria is…
Equity Market Drops N51bn The market capitalisation of the Nigerian Exchange Ltd. (NGX) Monday dropped by N51 billion. Specifically, the market capitalisation opened at N55.861 trillion to close at N55.810 trillion, representing 0.09 per cent decrease. The All-Share Index also dropped by 0.09 per cent or 93 points, to close at 101,995.53, as against 102,088.30 posted on Friday. Consequently, the Year-To-Date (YTD) return fell to 36.41 per cent. The downward performance was dues to selloffs in some of the stocks of Tier-one banks such as FBN Holdings, United Bank for Africa(UBA) and Zenith Bank as well as Dangote Cement. A…
LASG Enforces Building Permits, Requires Pre-Construction Authorisation The Lagos State Building Control Agency (LASBCA) has urged builders and developers to ensure they obtain a letter of authorisation from the agency before starting any construction in the state. The Director, Public Affairs, LASBCA, Mr Olusegun Olaoye, issued the statement on Monday in Lagos. He said that the General Manager of LASBCA, Mr Gbolahan Oki, made this clear on the sideline of the presentation of the Letter of Authorisation to developers of the Lagos Arena. He said that the ceremony was steered by the Lagos State Governor, Mr Babajide Sanwo-Olu, at the…
FEC Adopts Oronsaye Report on Civil Service Reform The Federal Executive Council has adopted the Steve Oronsaye report on the reform of the civil service to cut cost of governance. Minister of Information and National Orientation Mohammed Idris disclosed this at the end of the council meeting on Monday in Abuja. He said that some Ministries, Departments and Agencies would be scrapped, merged or subsumed into relevant organisations of government. Idris, however, said that the aim was only to cut costs and not throw Nigerians into the labour market. The minister, who said that details of the affected MDAs would…
The central bank priced 364-day treasury bills at 19% while the average stop rate printed at 18.75% at the debt management office’s latest undersubscribed FGN
Oil prices slid to $80 as global demand slowed down following multiple economic uncertainties. On Monday, the oil market extended the sell-off from the end of