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.
Naira Soars to N1,436 on Broad-Based US Dollar Selloffs Naira gained an additional upsurge advantage against the US dollar at the official currency market on Thursday as the dollar index slipped after the US Federal Reserve axed the interest rate by 25 basis points. In 10 trading sessions, the naira has gained N39 against the US dollar at the official window in the absence of FX pressures, details from the Central Bank of Nigeria (CBN) daily FX update revealed. The supply side has been boosted by foreign portfolio investors’ inflows, supported by contribution from the exporters, non-bank corporate and individuals.…
Nigerian Exchange Index Shrinks as Investors Lose N371bn The Nigerian Exchange (NGX) All-share index shrank further on Thursday as equity investors’ portfolio value declined by about N371 billion. Bears maintained tight grip in the local bourse for fourth consecutive trading session despite corporate earnings release. There were buckets of bargain hunting but not as strong as selloffs in some overpriced stocks. Investors continue to dump some of recently appreciated medium and high-cap stocks resulting in a negative market breadth, and the cooling-off period continued. This week, stock market has lost ₦1.25 trillion in investors’ wealth. The NGX market index or…
Aradel Profit Soars by 122% in Q3, Declares Interim Dividend Aradel Holdings Plc grew profit by about 122% year on year to N245.124 billion at the end of the third quarter of financial year 2025 from N110.579 billion in the equivalent period in 2024. The oil company’s revenue surged to N538.809 billion in the same period, up by 42.7% year on year from N377.580 billion in the comparable period in 2024. With the bumper earnings harvest for the period, Aradel Holdings Board approved an interim dividend payment of ₦10 per share for the period ended 30th September 2025, subject to…
First Bank Redeems $350m Eurobonds Priced at 8.625% First Bank Limited has announced the successful redemption of its $350 million Eurobond upon maturity on October 27, 2025, the group said in a disclosure on the Nigerian Exchange. According to First Bank, the Eurobond was issued in October 2020 as Senior Notes at an 8.625% coupon rate with semi-annual interest payments. The dollar-priced bonds was 70% oversubscribed at issuance, reflecting First Bank’s strong market reputation and the enduring confidence of international investors in the institution’s stability and governance. First Bank said the proceeds from the issuance were deployed to support strategic…
Zenith Bank: Investment Firm Sets N88.8 Target Price Ahead of Q3 Ranking among top picks in the banking sector, Zenith Bank Plc’s share price closed at N63.70 kobo, up from N63.40 on the Nigerian Exchange (NGX) ahead of the third quarter of 2025 earnings release. The Tier-1 lender is anticipated to release its financial scorecard, though the market and investors are anticipating surprises given developments in the banking sector, and hopes for better results linger. A notable performer among key rivals, Zenith Bank has delivered about 48% year-to-date return to investors at a reference price of N67.20. The banking stock…
Investors Take Profit in Nigerian Bonds, Rates Cut Stokes Sell-Off The average yield on Nigerian government bonds rose in reaction to sell pressures seen across the belly and long-tenor papers at the secondary market. Investors’ interest in the local borrowing papers was subdued as the market anticipates returns to continue to thin out after the Debt Office cuts spot rate on reopening bonds at the primary market auction. MarketForces Africa reported that the authority reduced spot rate on 5-Year reopened local papers to 15.832% from 16% for Sept auction. Also, Debt Office reduced spot rate on 7-year bonds to 15.85%,…
Nigerian Treasury Bills Yield Steady at 17.39%, Trade Softens The Nigerian Treasury bills secondary market continued its bullish momentum in today’s session, with the average yield dipping by a basis point to 17.39% on Wednesday from 17.40% yesterday. The return on the short term borrowing instrument continues to trail Nigeria’s headline inflation rate. Buying interest was broad-based across the curve, as most maturities declined by 1bp, except for the JUN-26 paper, which saw mild sell pressure, pushing its yield up by 12bps, Meristem Securities Limited said in a note. A transaction across short, belly and long end of the curve…
Nigeria Targets $74 bn GDP Boost from Livestock Sector The Federal Government of Nigeria says the 2025–2035 National Livestock Growth Acceleration Strategy (NL-GAS) is expected to increase the livestock sector’s contribution to GDP from 32 billion to 74 billion dollars. The Minister of Livestock Development, Dr Idi Maiha, gave the assurance on Wednesday in Abuja at the Donor and Partnership Workshop on Livestock Development in Nigeria. Maiha said the NL-GAS was a comprehensive, market-oriented, private sector-led, and public sector-enabled roadmap designed to accelerate growth in the livestock industry. The workshop, themed “Strengthening Strategic Partnership for Livestock Transformation,” brought together development…
Nvidia’s $5 trillion Climb Exposes AI Boom’s Reality Gap Nvidia’s market value closing in on $5 trillion has become the defining symbol of artificial intelligence’s rise — and, according to Nigel Green, CEO of deVere Group, a striking reminder that markets are racing far ahead of the profit reality. “AI is transforming the global economy and remains the single most powerful force shaping the future,” says Nigel Green. “But valuations are expanding faster than earnings. “The technology is real, the transformation is real, but the profitability still has to prove itself.” He says Nvidia’s march toward a $5 trillion valuation…
Naira Appreciates to N1,444/$ as External Reserves Cross $43bn The Nigerian local currency, the naira, appreciated to N1444 per US dollar at the official window, with data showing additional accretion into the nation’s external reserves. The Central Bank of Nigeria (CBN) daily FX update revealed that the official rate gained additional value against the greenback in the absence of supply pressures. The spot rate closed at N1444.4220 per US dollar on Wednesday from N1448.2050. The official rate touched an intraday high of N1450, up by N6 from the previous position, which suggests demand for dollar continues to track FX supply…