- 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.
Patricia Technologies Announces Plan to Repay Customers After a corporate existence-threatening breach, Patricia Technologies Limited has given a new timeline of two to five years to pay back its customers. The pledge comes eight months after being denied access to their funds, Patricia’s customers might have to wait up to five years before receiving any form of repayment. In an email sent to customers, the company said its repayment plan will take a minimum of two years and a maximum of five. This is while some customers say they’ve not been able to get access to their money for over…
Nigerian Communications Commission (NCC) has suspended the phased disconnection of Globacom from MTN network for a period of 21 days.
The Nigerian naira somersaulted and depreciated across the foreign exchange markets as the level …
There was an increase in US dollar flows from foreign portfolio investors into the market following the Central Bank of Nigeria’s
Ibadan Explosion: 15 Rescued as Operations Continue No fewer than 15 people have been removed from under the rubble during the ongoing rescue operations at the scene of Tuesday’s explosion at Bodija area of Ibadan. The Branch Secretary, Nigerian Red Cross, Oyo State branch, Mr Olaleye Ojo, stated this in an interview with the News Agency of Nigeria (NAN) in Ibadan on Wednesday. He noted that the operation was jointly carried out by various agencies, including Red Cross, NEMA, SEMA and security agencies. Ojo said that rescue operation commenced in the early hours of Wednesday. According to him, they official…
Trading activities in the secondary market for Nigerian Treasury bills have slowed down for most of the week
Gov. Seyi Makinde of Oyo State on Tuesday sought the approval of the State House of Assembly to assess a loan of N150 billion from the Afrexim and Access financial institutions. 20 lawmakers out of the expected 32 were in attendance to consider…
Investors ramping up more shares of Dangote Cement Plc ahead of the earnings release …
Traded at N227.50, Consumer Goods Company BUA Foods Plc has crossed N4 trillion in market valuation…
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…