Author: Julius Alagbe
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.
Dangote Refinery Justifies Petrol Price Hike, Landing Cost Hits $91 Citing 26% rise in the price of Brent crude oil, Dangote Petroleum Refinery & Petrochemicals reassures Nigerians of its unwavering commitment to serving as a stabilising force amid recent shocks in the international oil market. In a statement on Thursday, the company claimed landing costs surged 33% to $91 from $68 following the Middle East conflict. The Refinery said in a statement that conflict in the Middle East has led to the shutdown of some refineries and a cut in refinery production worldwide. This is leading to a global scarcity…
African Eurobonds Issuers’ Yields Ease in Fresh Rally The average yield on Nigerian Eurobonds declined in the international debt market amid rising demand from oil-linked African issuers. Reversing the previous bearish sentiment, the African Eurobond market shown positive trends, driven by investors reacting to recent price declines and a slowdown in their shift to safer assets. Angola, Egypt, and Ghana Eurobonds attracted offshore investors’ attention, with notable demand for Nigerian US dollar bonds in the international market. Yields across Nigeria’s Eurobond curve trended lower, with traders noting significant increases in U.S. Treasury yields that reflect a global shift in the…
Ripple (XRP) recorded a 3.45% positive price movement over 24 hours to $1.44, supported by strong ETF inflows amid improved sentiment and the latest crypto rally.
The naira exchange rate worsened for 11 consecutive trading sessions in the currency market as pressure from dollar demand persisted amidst soft interventions.
Jaiz Bank Plc faced a significant selloff, with its market value plunging 10% as investors offloaded shares associated with Islamic finance.
The Central Bank of Nigeria (CBN) hiked the discount rate on Nigerian Treasury bills with 364-day maturity by 83 basis points to 16.73% at the main auction conducted on Wednesday.
The Central Bank of Nigeria (CBN) has taken delivery of responsibly sourced gold refined to London Bullion Market Association (LBMA) Good Delivery standards into its foreign reserves.
Euro Rises as Markets Price ECB Rate Cut The euro rose modestly to $1.165, partially recovering from early-week losses, as the dollar softened amidst the escalating Middle East crisis. The dollar is trading a little softer today, but the tone is one of nervous consolidation. Amidst the dollar’s retreat, the dollar index weakened. The dollar eased after reaching a three-month high on Tuesday. The DXY dollar index fell 0.1% to 98.928, having reached a high of 99.683. The European single currency was sold to $1.1530 in the FX market, its lowest level since last November, when it bottomed in the…
Ukraine Strikes Russian Port Facilities Ukrainian forces said on Tuesday that they struck a major oil terminal and a naval base in Russia’s southern port city of Novorossiysk. According to Ukraine’s General Staff, oil loading arms at the Sheskharis terminal and an S-400 air defence system were damaged in the overnight attack. A large fire was reported in the area. The full extent of the damage remains under assessment. The Sheskharis facility was one of the largest oil and petroleum product transshipment terminals in southern Russia. #Ukraine Strikes Russian Port Facilities# China Declares Readiness to Begin its 15th Five-Year Plan
Tinubu Nominates Taiwo Oyedele as Minister of State for Finance President Bola Tinubu has nominated Mr Taiwo Oyedele as Minister of State for Finance, to replace Dr Doris Uzoka-Anite. Uzoka-Anite will now move to the Ministry of Budget and National Planning as Minister of State, her third portfolio in the administration. This is contained in a statement issued by Presidential Spokesperson, Mr Bayo Onanuga, in Abuja. Tinubu on Tuesday conveyed Oyedele’s nomination to the Senate for confirmation in a letter addressed to Senate President, Godswill Akpabio. Until his nomination, Oyedele was Chairman of the Presidential Committee on Fiscal Policy and…