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 Rises to N1452/$ as Foreign Investors Top FX Supply The naira (NGN) appreciated to N1452 per US dollar (USD) at the Nigerian Foreign Exchange Market (NFEM), with data showing that offshore investors’ inflows strengthen the supply side. Updated data from the Central Bank of Nigeria (CBN) showed that the spot rate closed stronger after brushing an intraday high of N1457 per greenback. Reflecting absence of significant pressure from US dollar demand, some international transacted closed at lowest intraday rate settled at N1450. Foreign portfolio investors and exporters inflows lifted US dollar volume at the official window in addition to…
Dangote Cement Jumps by 11%, Reaches Highest Value in 52 Weeks A fresh bargain hunt in Dangote Cement has lifted its market value to the highest level seen in 52 weeks. Hence, the market value of the cement company rose by about 11% week-on-week to N11.22 trillion on Friday. The new market re-rating was driven by increased activities on the cement company with 16.873 billion shares outstanding on the Nigerian Exchange. Its free float was 4.79% after the group bought back its shares from shareholders, reducing Dangote Cement volatility as a results of thin trading activities. Its high shareholding concentration…
Debt Office to Open N260bn Nigeria Bonds for Subscriptions The Debt Management Office (DMO) will conduct its monthly Federal Government Bond (FGN) auction on Monday with two reopening instruments with 5- and 7-year tenors on offer. At the primary market auction, local bonds worth N260.0 billion would be on offer across two tenor buckets. The authority will reopen two sovereign issues across 5-year and 7-year tenors for investors’ subscription with N130 billion offer size for each. There is mixed reactions about subscription levels amidst anticipated spot rates repricing. At the previous bonds auction for Sept, DMO slashed spot rate on…
PenCom to Clear All Gratuities, Arrears with N758bn FGN Bonds The National Pension Commission says it will clear all pension arrears and gratuities owed the retirees if the N758 billion bond by the Federal Government matures before December this year. Ms.Omolola Oloworaran, the Director-General of PenCom said this on Friday in Owerri at a two-day workshop organised by the commission and, National Salaries, Income and Wages Commission. The PenCom director-general was represented by Mr Samuael Uwandu, the National Commissioner Inspectorate of the Commission. Oloworaran said that over the decades, there had been some issues on the gratuities or the amount…
Aradel to Acquire 40.0% Equity Interest in ND Western Limited Aradel Holdings Plc has announced that its wholly owned subsidiary, Aradel Energy Limited, had entered into a definitive agreement to acquire an additional 40.0% equity interest in ND Western Limited (NDW) from Petrolin Trading Ltd. In a regulatory disclosure, the oil company explained that ND Western holds a 45% participating interest in OML 34, a producing Oil Mining Lease located in the Western Niger Delta. Public details available highlighted that OML 34 contains material crude oil and associated gas reserves contributing to Nigeria’s domestic energy supply and exports. In addition,…
Equities Investors Gain N733bn, NGX Closed at N98.79trn The Nigerian Exchange (NGX) market capitalisation closed at N98.79 trillion as investors saw an additional gain of more than N733 billion on Friday. The local bourse wrapped up the trading session stronger as third quarter earnings releases triggered a monster rally across sectoral indices. Year-to-date return surged as key performance indicators climbed by 75 basis points, supported by ongoing bargain hunting in bellwether stocks. The Nigerian bourse sustained its eighth consecutive gaining streak, supported by interest in selected medium- and large-scale stocks such as IKEJAHOTEL, ARADEL, DANGSUGAR, DANGCEM, and 30 others. Specifically,…
Nigeria’s Gross External Reserves Increase to $42.865 billion Nigeria’s gross external reserves climbed to $42.865 billion on Wednesday, and most projections sampled by MarketForces Africa showed the year-end balance will reach $43 billion. The foreign reserves balance is noted to provide liquidity cover for about 12 months of imports, and the net position has surpassed the pre-naira reform era. Key drivers of the accretion into the foreign reserves are increases in hydrocarbon earnings, foreign portfolio investment flows and remittances. Updated data from the Central Bank of Nigeria (CBN) shows that the currency external reserves balance is the highest seen since…
NNPC Ltd. Applauds Ekperikpo, Mshelbila’s Emergence as GECF Chairman, Secretary-General The Nigerian National Petroleum Company Limited (NNPC Ltd.) has lauded President Bola Tinubu’s strategic role in the emergence of Dr Philip Mshelbila and Dr Ekperikpe Ekpo in top Gas Exporting Countries Forum (GECF) positions. Mshelbila, Managing Director of the Nigeria Liquefied Natural Gas (NLNG) was elected as the new Secretary-General of the GECF at its 27th Ministerial Meeting held on Thursday, in Doha, Qatar. The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, also emerged as the President of the 2026 GECF Ministerial Meeting. The Group CEO, NNPC Ltd.,…
Lagos Reaffirms Commitment to Reforms, Tech-Driven Growth Gov. Babajide Sanwo-Olu of Lagos State has restated his administration’s commitment to deepening reforms that will make Lagos a more efficient, inclusive and technology-driven economy. Sanwo-Olu made this known during a South Africa–Nigeria Economic Diplomacy Roundtable at MTN Plaza, Ikoyi, on Thursday. The governor was represented by his Deputy, Dr Obafemi Hamzat. He said Lagos remained open to partnerships that would bring in capital, technology and expertise to drive growth and development. According to him, South African businesses have played important roles in the economy of Lagos State, especially in telecommunications, retail market,…
Senate Urges Strict Compliance, Transparency in Public Procurement The Senate Committee on Public Procurement has emphasised the urgent need to make Nigeria’s procurement process more transparent and strictly compliant with established procedures to ensure accountability and value for money. It stated that public procurement in Nigeria should become a model of transparency and efficiency, ensuring every naira spent results in measurable, impactful projects that positively affect citizens and national development. Sen. Olajide Ipinsagba (Ondo North), Committee Chairman, made the call during a two-day retreat for committee members in Abuja on Thursday, aimed at strengthening oversight and governance in procurement processes.…