- Central Bank Reduces Interest Rate to 23%
- Nigerian Exchange Gains N297bn as Banking Index Drives Momentum
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- CBN Cuts Interest Rate by 3.50% as Monetary Easing Begins
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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.
Oil prices edged higher on Thursday after US President Donald Trump vowed a “very strong” response to a drone attack on a US-owned LNG tanker in Egypt.
Wema Bank Slides as EPS Moderated by 20% in H1-2026 Wema Bank Plc, a tier-2 Nigerian lender, shed 2.21% of its stock market value amid sell pressure following the first-half 2026 earnings release. This followed investors’ reaction to the bank’s half-year earnings release – with robust top- and bottom-line performance except for moderated earnings per share (EPS). Earnings and investors’ sentiment disconnected, which triggered profit-taking activities in Wema Bank shares. Stock market analysts said there is a strong probability of a rebound as investors weigh their positions. Details from the Nigerian Exchange showed the bank’s share price declined to N30.95…
The U.S. effective tariff rate (ETR) has declined to 7.4% from 9.4% after the U.S. replaced
HBM Nigeria Slides as Investors Sell the Earnings, Dividend News In a sell-the-news reaction, HBM Nigeria Plc lost about 4% of its market value as investors trimmed holdings despite a half-year 2026 earnings beat and an interim dividend. Investors exited positions despite HBM Nigeria reporting a 57.0% year-on-year increase in earnings per share to N12.93. The cement company’s earnings growth was driven by revenue expansion that outpaced cost increases, further supported by a sharp increase in net finance income. The company fell from its 52-week high of N389.90 per share to N375.10 as 8.631 million units valued at N3.240 billion…
The Nigerian naira softened against the US dollar at the official FX window, with data showing a sharp decline in interbank turnover over the past 24 hours.
GCR Ratings has upgraded Lagos State Government’s national scale long-term issuer rating to AA(NG) from AA-(NG) and affirmed its national scale short-term issuer rating at A1+(NG).
The Nigerian Exchange (NGX) All-Share Index (ASI) declined as equities investors lost about N648 billion, reversing the previous day’s rebound.
Cardano (ADA) price increased by 4.98% to $0.164, significantly outperforming a broader market
Ripple (XRP) price jumped 4% in 24 hours to $1.09, outperforming a broader market…
SPE Backs Federal Government’s ‘Transparent’ Oil Licensing The Society of Petroleum Engineers (SPE) Nigeria Council has praised the Federal Government for conducting a transparent, automated and market-driven 2025 oil licensing round under the Petroleum Industry Act. SPE Nigeria Council Chairman, Francis Nwaochei, spoke on Tuesday in Lagos during a pre-event press conference ahead of the 49th Nigeria Annual International Conference and Exhibition (NAICE 2026). He described the exercise as a significant milestone for Nigeria’s upstream sector ahead of NAICE 2026. He commended the Federal Government, the Ministry of Petroleum Resources and the Nigerian Upstream Petroleum Regulatory Commission for strengthening investor…