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.

Naira Loses 4.7% as US Dollar Demand Eclipsed FX Supply

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Naira Loses 4.7% as US Dollar Demand Eclipsed FX Supply The Naira depreciated by 4.72% at the official market, closing at N878.57 to the US dollar from N838.95 per in the previous day. The local currency has been gaining and losing across forex markets amidst an expectation that the right official rate would exceed N1000 in 2024. The problem is; the Central Bank of Nigeria (CBN) has halted forex market intervention and the development appears to make the local currency vulnerable to market dictates – demand has remained stronger compared with the total volume of foreign currency available. The exchange…

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