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.
Central Bank Outlines Strategic Priorities for 2026 The Central Bank of Nigeria (CBN) has outlined its strategic priorities; its governor, Olayemi Cardoso, dropped the hint at the 60th Annual Bankers’ Dinner of the Chartered Institute of Bankers of Nigeria. The CBN said it will strengthen the banking system in 2026, deliver durable price stability, modernise payments, promote financial inclusion and foster responsible fintech innovation. The authority also plan to build institutional capacity and efficiency, deepen partnerships and thought leadership; and reinforce Nigeria’s position as a trusted and respected central bank. “Over the past year, we have collectively committed to restoring…
Equity Investors Lose N197bn as Bears Launch December Strike The Nigerian Exchange (NGX) market capitalisation shrank as equity investors lost more than N197 billion at the beginning of the week, kick-starting December on a negative note. As a result of bears striking on Monday, NGX key performance indicators fell by 0.22%, driven by cautious trading activities across sectoral indexes. The market saw profit-taking activities in ARADEL, WAPCO, DANGSUGAR, and others, as investors continue to digest the recent economic parameters. The NGX All-Share Index reduced by 310.20 basis points to close at 143,210.33. Also, equity market capitalisation fell by N197.31 billion…
U.S Dollar Inflows into Nigerian FX Market Increase by 64% U.S dollar inflows through the Nigerian forex market (NFEM) increased by more than 64% as the Apex Bank stepped up intervention at the official window. The naira faced pressures, but the Apex Bank’s quick and successive FX sales bolstered liquidity conditions in the currency market last week. Foreign exchange inflows through the Nigerian Foreign Exchange Market (NFEM) increased significantly to US$841.10 million, Coronation Merchant Bank research subsidiary said in a note. The total amount translates to 64.21% week on week surge compared with US$512.20 million in the previous week, merchant…
Dangote Refinery to Supply 1.5bn Litres of Petrol Monthly Dangote Petroleum Refinery has announced plans to supply one billion five hundred million litres of Premium Motor Spirit (PMS) monthly to the Nigerian market in December 2025 and January 2026, a move aimed at ensuring uninterrupted nationwide fuel availability through the festive season and into the New Year. President and Chief Executive of Dangote Industries Limited, Aliko Dangote, disclosed the plans at the weekend, noting that the refinery will make available 50 million litres of PMS daily beginning December 1. “In line with our commitment to national wellbeing, and consistent with…
TotalEnergies to Sell 40% in Nigerian Offshore Asset to Chevron TotalEnergies has agreed to sell a 40% stake in two offshore exploration licenses in Nigeria to Chevron, with the aim to enhance collaboration, the company said on Monday. TotalEnergies said it has signed a farmout agreement to sell to Star Deep Water Petroleum Limited, a Chevron company, a 40% participation in the PPL 2000 and PPL 2001 exploration licenses, offshore Nigeria. Located in the prolific West Delta basin, the PPL 2000 & 2001 licenses are covering an area of approximately 2,000 square kilometers. These assets were awarded to a consortium…
Ikeja Hotel Hits Highest Valuation in 52-Week, Gains 45% Hospitality Company Ikeja Hotel Plc fires up at the Nigerian stock market with more than 45% week-on-week price appreciation as investors’ sentiments improved. Reflecting the expectation of a better earnings outlook, the hospitality stock experienced significant momentum that triggered a fresh re-rating, driven by significant volume activities. Ikeja Hotel hit its highest value in the last 52 weeks, closing the month of November stronger after the hospital company paid dividends to shareholders during the week. Significant volume transactions in the local bourse surfaced as some investors reinvested interim dividends to strengthen…
CBN Defends Naira with $186m, Forward Rates Climb Forward FX contracts appreciated as the market continues to price in the Central Bank of Nigeria (CBN) intervention sales into future exchange rate at the official window. With growing external reserves, currency market analysts have maintained a positive outlook on the naira exchange rate, anchored on the CBN’s stance to continue with liquidity support. The Central Bank of Nigeria (CBN) sold US dollar to authorised dealer banks below the official rate to boost the supply side, and redirected the naira exchange rate. Last week, the CBN sold $186 million to boost the…
Nigerian Exchange Drops to N91.29trn as Investors Lose N128bn With year-to-date return trailing 40%, Stockholders lost N128 billion in the Nigerian Exchange (NGX) trading platform due to extended negative sentiment. The seller market has been affected by sentiment, resulting in negative performance in November amidst a sequence of developments, including distortion from the new capital gains tax and interest rate decision. Key performance indices declined as market closed negative for three out of five trading sessions. All-Share Index closed at 143,519.81 points, down 0.14% week-on-week, as the market continued to feel the weight of intensified profit-taking. Stockbrokers said investors are…
Tinubu Lauds Nigeria’s Election into International Maritime Council President Bola Tinubu has hailed Nigeria’s election to the International Maritime Organisation (IMO) Council, describing it as a strong endorsement of the nation’s maritime leadership. Presidential Spokesperson, Mr Bayo Onanuga, disclosed this in a statement issued on Saturday in Abuja. Nigeria was re-elected into Category C of the IMO Council for the 2026–2027 biennium during the organisation’s General Assembly in London on Friday, ending a 14-year absence. Tinubu said the outcome reflects global confidence in Nigeria’s commitment to maritime safety, security, environmental protection, and adherence to internationally accepted standards governing global shipping…
Zenith Bank Sees Slight Gain on Huge Trading Volume Nigeria’s tier-1 lender, Zenith Bank Plc, ticked higher to N60 per share amidst increased market activities, reflecting investors’ positive expectations. The bank share opened the trading session at N59.75, reflecting about 36% upside potential from equities analysts’ updated target price. According to data obtained from the Nigerian Exchange, the share price of Zenith Bank rose to N60 on Friday close as 15.065 million units of the company valued at N908.044 million exchanged ownership. Transaction volumes were heavy due to block trades fuelled by strategic investors taking positions ahead of fourth quarter…