- Naira Depreciates Across FX Markets on Liquidity Squeeze
- FirstHoldco Hits 52-Week High on Substantial Trading Volume
- CBN’s Biggest Signal Not Rate Cut, AAG Capital Says
- Interest Rates on Nigerian Treasury Bills Fall Below 16%
- Iran Defends Nuclear Programme, Accuses U.S., Israel of Breaking Int’l Law
- 40% of Nigerians Still Lack Reliable Power – REA Boss
- Diverting Tithes, Offerings, Zakat to Private Businesses Criminal – EFCC
- SK Hynix Tokenised bStocks Dips on Broader Market Pullback
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.
Banks to Wind Down FCY Loans, Capital to Slide–S&P The sharp devaluation of the Nigerian naira will impact deposit money banks’ (DMBs) capital position in the first quarter of 2024, S&P Global said in its latest rating note. With the new FX guideline, the rating firm predicts that DMBs will start to wind down their foreign currency loans to further reduce risks. The Central Bank of Nigeria (CBN) asked banks to sell down their foreign currency holdings as authorities seek to upturn the fortune of the naira, its weak local currency. The naira has been on a decline over the…
The Nigerian naira settled at N1435.53 following the apex bank notice to deposit money banks to reduce their net foreign currency position to 20%
Super Eagles and FC Nantes of France winger, Moses Simon, said he was undecided either to pass the ball to Victor Osimhen or score himself before passing
The European Union’s foreign policy chief Josep Borrell has warned of a further escalation of tensions in the Middle East at an informal meeting on
The Jigawa Government on Friday approved over N1.4 billion for the construction and renovation of mosques across the state.
The sum will also be used for
The start date for former U.S. president Donald Trump’s trial for attempted election fraud has been pushed back.
The court in the capital Washington announced
EU Invests €1.5m in Wildlife Conservation in Cross River The European Union (EU) has invested 1.5 million euros for the preservation of Cross River’s wildlife, an official has said. Ms Samuela Isopi, EU’s Ambassador to Nigeria and the Economic Community of West African States, said this during a meeting with Gov. Bassey Otu at the Government House in Calabar on Saturday. Isopi said the delegation was in Cross River as part of the union’s activities to support wildlife conservation in the state by inaugurating new infrastructures and interventions, valued at 1.5 million euros. She said that while the visit was…
Bulls stage comeback into the Nigerian Exchange (NGX), gaining N902 billion after two days bloodbath ….
International Breweries Plc’s loss widened by 175% in 2023 as the company’s foreign currency liabilities on its balance sheet resulted in huge losses due to a rapid depreciation of Nigerian naira.
Total Energies and Marketing Nigeria Plc’s profit declined by about 20%, according to details from its financial statement as higher funding costs damaged positive impacts of healthy revenue growth.