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.
Equities Investors Gain N179bn as Nigerian Bourse Rally Equities investors gained about N179 billion in a last-moment rally on the Nigerian Exchange (NGX) platform on Friday. The positive price movement boosted the NGX market capitalisation, and lifted the year-to-date return. The local bourse closed positive, with key market performance indicators appreciating by 0.20%. The All-Share Index added 281.30 basis points in today’s trading session to close at 143,520.53. The stock market capitalisation expanded by ₦178.91 billion, representing a growth of 0.20%, settling at ₦91.28 trillion. The uptick was propelled by renewed buying interest in medium and large cap stocks with…
T-Bills Yield Flattish with High Interest Rate Chasing Disinflation The average yield on Nigerian Treasury bills (NTB) was relatively flattish due to mixed trading activities in the secondary market on Thursday. The portfolio rebalancing efforts have neutral impacts on the yield curve, though there were notable adjustments across durations. Investors’ interest in the naira assets surged after the monetary authority kept the benchmark interest rate unchanged at 27%, chasing Nigeria’s 16.05% inflation rate. The decision kept real return on fixed interest securities at about 11%, signal deliberate efforts to make Nigerian debt capital market attractive, though at costs of the…
Pound Firmer Against Dollar, Euro Amidst UK Budget Leak The British pound traded firmer, rising against both the euro and the US dollar after Chancellor Rachel Reeves delivered the Autumn Budget without any major surprises due to an early leak. Before the finance minister’s presentation, the markets were already in possession of the key budget figures, which sparked an immediate reaction with GBP trading majors – the US dollar, and Euro experienced immediate selloffs. In her presentation, Reeves explained plans to address a £20 billion shortfall in the public finances. The statement was overshadowed early on by the OBR leak…
ECA Strengthens Kenya’s Capacity to curb Profit Shifting The Economic Commission for Africa (ECA), in collaboration with the Kenya Revenue Authority (KRA), convened a national workshop to strengthen Kenya’s capacity to curb profit shifting by multinational enterprises and enhance domestic resource mobilisation. The two-day workshop is part of ECA’s ongoing study on tax leakages in Kenya and Uganda, which examines how profit shifting occurs, estimates tax losses, and proposes targeted policy reforms. Opening the workshop, ECA representatives stressed that illicit financial flows, unproductive tax incentives and aggressive profit-shifting practices continue to erode Africa’s fiscal space and undermine progress toward the…
GCR Affirms Fidelity Bank Plc’s A/A1 Ratings, Outlook Stable GCR Ratings has affirmed Fidelity Bank Plc’s national scale long-term and short-term Issuer ratings of A (NG) and A1 (NG), respectively, with a stable outlook In its rating note, GCR also said the ratings affirmation was underpinned by Fidelity Bank’s stable financial profile and domestic market position. However, these strengths were partly offset by a decline in the regulatory capital adequacy ratio as of 30 June 2025, stemming from the expiration of the regulatory forbearance, the ratings analysts added. GCR acknowledged that Fidelity Bank has a strong domestic franchise, being the…
Equity Investors Lose N444bn as Nigerian Exchange Retreats Equity investors lost N444 billion as Nigerian Exchange (NGX) key performance indicators retreated on Wednesday due to renewed selloffs. Trading activities ended in a bloodbath that plunged the stock market year to date return, reflecting investors’ downbeat sentiment. With market wide sell pressures, the All-Share Index reduced by 698.56 basis points in today’s trading session, representing a 0.49% decrease to close at 143,064.57 points. The NGX market cap lost ₦444.31 billion to close at ₦90.99 trillion. The Nigerian bourse was dragged down by investors’ profit-taking activities in AIICO, IKEJAHOTEL, STERLINGNG, CADBURY, and…
Investors Cash Out on Nigerian Bonds in Post-Auction Reaction Portfolio investors took profit on Nigerian government bonds in the secondary market in post-main auction reactions along with the monetary authority’s decision on interest rates. Ahead of the monetary policy committee decision, the Debt Management Office (DMO) has allotted approximately ₦583.52 billion across the 2030 and 2032 maturities at higher stop rates of 15.90% and 16.00%, respectively. MarketForces Africa reported that the Central Bank of Nigeria (CBN) kept the interest rate on Treasury bills unchanged even after the statistics office announced a sharp headline inflation rate decline to 16.05% from 18.02%.…
Naira Rises as Additional FX Inflow Boosts External Reserves The naira rose against the dollar at the official window on Tuesday as the Central Bank of Nigeria (CBN) recorded additional inflows into the nation’s external reserve. The market expects the naira to trade in line with the demand and supply level amidst robust external reserves to drive the monetary authority’s FX intervention sales. The Apex Bank FX data showed that the Naira appreciated by 52 basis points, or ₦7.53 to close at ₦1,446.3156 per dollar, having traded within a range of ₦1,455.00/$ and ₦1,441.00/$ during the session. The positive exchange…
16 Banks Successfully Recapitalised Ahead of Deadline – CBN The Central Bank of Nigeria (CBN) has announced that 16 banks have so far met the new capital requirements for their various licences, some four months before the March 31, 2026 deadline. The apex bank also indicated that 27 other banks have raised capital through various methods in one of the most extensive financial sector reforms since 2004. Addressing journalists yesterday at the end of the Monetary Policy Committee (MPC) meeting in Abuja, CBN Governor Mr Olayemi Cardoso said the banking recapitalisation was going on orderly, consistent with the regulator’s expectations.…
Tax Reforms Will Eliminate Multiple Taxation – ACCI The Abuja Chamber of Commerce and Industry (ACCI) says the new tax reforms will eliminate multiple taxation and create a business-friendly and transparent revenue system to support growth and competitiveness. Chief Emeka Obegolu, ACCI President, communicated this at a high-level gathering for business leaders and experts on Tuesday in Abuja. The meeting, tagged: Abuja Business Tax Roundtable 2025, had the theme “Demystifying the New Tax Laws.” Obelogu said the ACCI collaborated with some relevant stakeholders to deepen understanding of the new tax reforms taking effect on Jan. 1, 2026. He said that…