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.
UK Watchdog Secures $101m Redress for BlueCrest Investors UK’s Financial Conduct Authority (FCA) has secured US$101 million in redress to UK and other non-US investors in a fund sub-managed by BlueCrest Capital Management (UK) LLP (BlueCrest) and imposed a public censure. In a statement, FCA said between October 2011 and December 2015, BlueCrest failed to manage fairly a conflict of interest created by its role in managing both an investment fund exclusively for the benefit of its partners and employees and a flagship fund available to external investors. BlueCrest’s management approved UK-based traders being moved from the external fund to…
Interbank Rates Mixed as Liquidity Surplus Reduced With a slide in liquidity surplus, interbank rates moved in divergent directions in the money market. Investment firms said in separate notes that financial system liquidity opened the new week at a robust yet moderate level of ₦2.03 trillion. The funding level in the system was supported by a coupon inflow of about ₦29.18 billion from the FGN 2033 Sukuk Bond. The liquidity situation was also enhanced by banks’ active placements at the Central Bank of Nigeria (CBN) Standing Deposit Facility (SDF). Banks are placing funds at the window at 24.5% SDF rate,…
South African Rand Rallies Amidst U.S Trade Deal Talks The South African rand appreciated more than 1% to around 17.3 per US dollar approaching its highest level since September 2024, buoyed by record prices of critical metal prices, including gold, palladium and platinum. Analysts said recent economic conditions have produced a silver lining: a stronger rand, lower domestic interest rates, and rising terms of trade. South Africa is exploring the possibility of a new trade deal to reduce the 30% tariffs imposed in early August on its exports to the United States, according to local media reports citing Trade Minister…
Equities Investors Gain N430bn, Rally Fuels NGX Indicators Market capitalisation of all listed companies’ stocks on the Nigerian Exchange (NGX) expanded as equities investors gained about N465 billion on Monday. The local bourse expanded further after portfolio value surged by more than N2 trillion last week, reflecting a strong drive towards risky assets. Today’s rally boosted key performance indicators by 0.50%, fuelled by sustained buying interest in large and moderately priced stocks. The market recorded price appreciation in tickers like TRANSPOWER, STANBIC, DANGCEM, ETERNA, and 20 others across major market sectors. Investors remained upbeat ahead of third-quarter corporate earnings of…
Nigeria’s Total Public Debt Rises By 11.6% to N152.40 trn Nigeria’s total public debt rose significantly by 11.6 per cent year-on-year to N152.40 trillion as of June 30, 2025, according to the latest data from the Debt Management Office (DMO) released on Saturday. This marks an increase of N15.89 trillion compared to the N136.51 trillion recorded in June 2024, highlighting the continued expansion of Nigeria’s debt burden amid fiscal pressures. In dollar terms, public debt grew from approximately $89.15 billion last year to $99.66 billion by June 2025, reflecting a 11.7 per cent year-on-year rise. The DMO breakdown shows the…
MTN Nigeria Rallies Amidst Strong Earnings Expectations MTN Nigeria inched close to N10 trillion valuation on the Nigerian Exchange (NGX) trading platform as telecom stock gained investors’ attention. The renewed market positioning came ahead of the third quarter of 2025 earnings release. Trading data showed that MTN Nigeria share price rose to N471 last week, reflecting the increased share volume traded by value hunters. The telecom stock dropped from its latest highs after its half year earnings euphoria fizzled out. The telecom company market value increased by 10.82% week on week, though it is still trading behind its 52-week high…
Fitch Affirms Nigeria at ‘B’ with Stable Outlook In its latest creditworthiness update, Fitch Ratings affirmed Nigeria’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B’, with a stable outlook. Nigeria’s ‘B’ rating is supported by its large economy, a relatively developed and liquid domestic debt market, large oil and gas reserves and an improved monetary and exchange rate policy framework. It noted, however, that the country’s credit rating is constrained by weak governance indicators, high hydrocarbon dependence, high inflation, security challenges and structurally very low, although improving, non-oil revenue. Fitch said FX liquidity is improving, but challenges remain in the…
Oil Posts Weekly Loss as Markets Price in Truce, Sanctions Oil prices posted a modest weekly loss, retreating from midweek highs as easing tensions in the Middle East offset earlier gains. Brent crude traded at $64.05 per barrel, down from last Friday’s close of $64.28, reflecting a slight weekly loss of about 0.4%. US benchmark West Texas Intermediate (WTI) was at $60.18 per barrel, compared with $60.51 last week, showing a marginal drop of around 0.5%. Prices fluctuated through the week amid mixed market signals. Oil initially rose on geopolitical tensions related to the Russia-Ukraine conflict. Meanwhile, the OPEC+ alliance,…
Naira Rises to N1455/$, CBN Injects Dollar into FX Market The naira closed strong at N1455 per US dollar at the Central Bank of Nigeria (CBN) official foreign exchange market in the absence of liquidity pressure. The local currency maintained its upward momentum against the dollar on Friday, strengthening 0.79% to ₦1,455.17 at official window. The spot rate touched an intraday high of N1462.5000, reflecting strong FX liquidity in the system. This week, the CBN intervened, selling USD22.20 million to authorised banks amidst growing external reserves. FX movement data from the CBN showed that gross external reserves increased for the…
Ekiti Presents N415.57bn Budget Proposal for 2026 Gov. Biodun Oyebanji of Ekiti on Friday presented a budget estimate of N415.57 billion for the 2026 fiscal year. According to the governor, the budget is expected to focus on consolidating the various achievements recorded by his administration in the last three years. Laying the budget proposal before members of Ekiti State House of Assembly during a plenary held at the Old Assembly Complex, Ado-Ekiti, Oyebanji said the 2026 budget was tailored towards the completion of all ongoing infrastructural development projects. The 2026 budget estimate, christened “Budget of Impactful Governance”, is made up…