- Cardano Price Drops to $0.21 as Selloffs Hit Altcoins
- Ethereum Falls as BitMEX Co-Founder Arthur Hayes ‘Dump It All’
- Solana Drops 2.20% to $101.28 as investors liquidate Positions
- NEAR Protocol Dips 10% Over Alleged Stolen Patented Technology
- XRP Seeks Catalyst to Halt Downtrend, Breaks Below $1.30
- Bitcoin Drops to $80.5k on Spot ETFS Outflows, AI Stocks Rout
- Naira Touches N1,395 to US Dollar as FX Order Book Surges
- Nigeria’s Gas Reserves Rise 3% to 215.29 Trillion Cubic Feet
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.
Kenya Reduces Benchmark Interest Rate to 12% With the aim to drive private sector credit growth, the Central Bank of Kenya cut its benchmark interest rate by 75 basis points (bps) to 12% at its meeting on October 8th, 2024. Analysts said this is the second consecutive rate reduction for the first time since the Covid-19 crisis. This decision was prompted by inflation easing to the lower bound of the central bank’s target range of 2.5% to 7.5%, along with a more stable Kenyan shilling. The country annual inflation rate decelerated to 3.6% in September 2024, the lowest since December…
As the total amount in the financial market remained weak, money market rates adjusted upward due to the absence of significant inflows
The Nigerian naira depreciated against the dominant foreign currency, the US dollar, in the foreign exchange (FX) market
The Apapa Port Command of the Nigeria Customs Service (NCS) says it collected N1.61 trillion in the third quarter of 2024. Customs Area Controller, Apapa Command, Comptroller Babatunde Olomu, who made the disclosure in a statement on Monday
The Securities and Exchange Commission (SEC) says Nigeria has emerged as a key player in crypto markets, particularly in peer-to-peer transactions.
Dele Oye, National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA)…
Equities investors gained more than N107 billion on the Nigerian Exchange (NGX) trading platform due to renewed interest in banking
Heirs Insurance Group (HIG), bolstered earnings performance in 2023 with about a 60% year-on-year surge in its gross written premium over 12 months.
Fitch Ratings affirmed Rwanda’s credit ratings with a stable outlook,
With the aim to manage liquidity balance in the financial system, the Central Bank of Nigeria (CBN) mopped up about N1.34 trillion from the economy amidst