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.

First Holdco Hits N6.6trn on 60% Distributable Profit Bets

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First Holdco Hits N6.6trn on 60% Distributable Profit Bets The market value of FirstHoldco Plc.’s 45.475 billion shares outstanding on the Nigerian Exchange increased by about 11.6% to N6.6 trillion last week. The banking group continues to enjoy a strong market re-rating as its chairman, Femi Otedola, has enhanced its single largest shareholder stake to about 30%. FirstHoldco has grown about 5x from its 52-week low, and more than 3x its floor price pre-earnings, not driven by improved fundamentals per se, but more by sentiment and then the ‘Otedola’ factor. FirstBank of Nigeria’s non-operating holding company is now the largest…

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GCR Upgrades Coronation Merchant Bank Ratings to BBB+/A2

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GCR Upgrades Coronation Merchant Bank Ratings to BBB+/A2 GCR Ratings has upgraded Coronation Merchant Bank Limited’s national scale long and short-term issuer ratings to BBB+(NG) and A2(NG), respectively, from BBB-(NG) and A3(NG) previously, with the outlook maintained as stable. The ratings upgrade reflects a marked improvement in Coronation MB’s capitalisation following an equity injection, which also balances the bank’s strong risk profile, good funding structure and adequate liquidity against its modest competitive position. Ratings analysts recalled that the merchant banker’s capital position was strengthened by an NGN32.1 billion equity injection in March 2026 to meet the new minimum capital requirements…

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XRP Gains as Evernorth Clears SEC Hurdle for Nasdaq Listing

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XRP Gains as Evernorth Clears SEC Hurdle for Nasdaq Listing Ripple (XRP) price increased 1.80% in 24 hours to $1.43, slightly outperforming a broader market rally, primarily driven by a key regulatory milestone for an XRP-focused company nearing a public listing. Traders price in progress toward a Nasdaq listing for Evernorth, an XRP treasury firm, after its SEC registration was declared effective. Evernorth, a Ripple affiliate, has advanced its plan to list an XRP treasury vehicle on Nasdaq by clearing an SEC S-4 registration hurdle. The company has acquired approximately $1 billion worth of XRP to anchor the fund. This…

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