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.
Bitcoin (BTC) lost 3% in 24 hours to $71.4, underperforming a flat S&P 500 as Michael Saylor, Strategy Inc. chairman and co-founder, sold 32 Bitcoins for roughly $2.5 million between May 26 and May 31 to fund preferred stock dividend payments.
Ripple (XRP) price dipped more than 4% to $1.28 on Monday as investor sentiment continued to decline amidst 1 billion XRP unlocked from escrow.
Private sector activity improved to the best level in 9 months, according to Stanbic IBTC Bank’s Purchasing Managers’ Index (PMI) released by S&P Global today.
The Nigerian naira opened the month of May slightly stronger as foreign reserves continue to climb again, following fresh inflows from hydrocarbon sales and offshore investors’ portfolio building.
Ripple (XRP) gained more than 2% over the past 24 hours to $1.34, outperforming a flat Bitcoin, primarily driven by steady institutional accumulation via spot exchange-traded funds (ETFs).
The naira climbed against the US dollar to 1,373 at the Nigerian Foreign Exchange Market (NFEM) at the close of the trading session on Friday.
The Central Bank of Nigeria (CBN) conducted an open market operation in which it offered N600 billion in OMO bills to investors across three tenors.
Stellar (XLM) price soared by 24.09% in 24 hours to $0.20872, dramatically outperforming a flat broader market, primarily driven by a landmark institutional partnership announcement.
South African Rand (ZAR) rallied against Western currencies late on Thursday after the South African Reserve Bank raised key rates by 25 basis points.
Ethereum (ETHUSD) sank 4% to $1,992.21 as fear underscored trading activities in the cryptocurrency market on Thursday following renewed attacks between the US and Iran.