- Bitcoin Drops to $80.5k on Spot ETFS Outflows, AI Stocks Rout
- Naira Touches N1,395 to US Dollar as FX Order Book Surges
- Nigeria’s Gas Reserves Rise 3% to 215.29 Trillion Cubic Feet
- Oil Prices Edge Higher, Brent Rises 5% Week-on-Week to $115
- FirstHoldco Soars on Earnings Beat, Otedola, RC Hold 50% of All Shares
- XRP Upside Rises to 35% as Ledger Upgrade Delayed to Nov.
- UK’s Dividend Tax is Fatally Flawed, Budget Could Drag Investors Back to the 1970s
- Dangote, FirstHoldCo Halt NGX Downtrend, Investors Gain N1.47trn
Author: 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.
The Nigerian Exchange (NGX) All-Share Index (ASI) and market capitalisation shrank further on Tuesday, with the equities portfolio balance reducing by N478 billion as sell pressure persisted.
The Central Bank of Nigeria (CBN) sold OMO bills worth N7.30 trillion in May 2026 as part of efforts to manage liquidity levels in the financial system.
South African Rand Strengthens on Softer US Dollar, Bonds Rally The South African rand gained strength against Western currencies on Tuesday, boosted by foreign investor demand for the country’s debt papers and a rebound in gold prices amid a setback in US-Iran peace talks. The rand has firmed modestly this morning and is trading at R16.28 against the dollar, R18.95 against the euro, and R21.92 against the pound, First National Bank said in a brief on Tuesday. The bank said the South African currency is drawing support from a softer United States (US) dollar and continued foreign investor appetite for…
Global equities opened on a mixed note after renewed tensions between the US and Iran weighed on sentiment, while investors reacted to a sharp surge in oil prices.
Ripple’s XRP is down 3.50% to $1.27 in 24h, closely tracking a broader crypto market sell-off primarily driven by institutional risk-off sentiment and leveraged liquidations.
Bitcoin (BTC) price declined by 4.11% to $70,208.55, underperforming a broadly weaker crypto market, primarily driven by sustained institutional selling and heightened geopolitical risk.
Nigeria’s Assets Under Management (AUM) increased from N3.2 trillion to N10 trillion within the last two years, the Securities and Exchange Commission (SEC) has said.
The Initiates Plc has strengthened its strategic position in East Africa following the acquisition of an additional 20% equity stake in its Ugandan subsidiary, The Initiates Uganda (TIU), raising its ownership interest from 35% to 55%.
The Nigerian Exchange (NGX) key performance indicators declined in the first trading session of June due to profit-taking in the local bourse. Market cap fell by N1.8 trillion on Monday as investors sold off.
Canadian banks saw mixed results for 2Q26, according to Fitch Ratings. Most institutions reported modestly lower top-line numbers, primarily driven by three fewer calendar days in the quarter and pressure on net interest income.