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.
Fidelity Bank Unveils “She Leads” Initiative Fidelity Bank Plc has unveiled a flagship initiative, “She Leads,” to celebrate and empower young girls across Nigeria in commemoration of the 2025 International Day of the Girl Child. A statement by the bank’s media unit on Friday in Lagos said the programme was designed to provide a platform for girls to showcase leadership, creativity, and confidence through mentorship sessions, debates, essay competitions, and healthcare interventions. The initiative, open to girls in secondary schools nationwide, underscores the bank’s commitment to promoting female-focused engagements as a foundation for building stronger and more inclusive communities. Commenting…
US Shutdown Masks Far Deeper Threat, CEO Says The U.S government shutdown will extend into next week as the Senate adjourns without breaking stalemate, but investors appear strangely unfazed. Their calm may prove dangerously misplaced, warns Nigel Green, CEO of global financial advisory giant deVere Group, as markets are underestimating the escalating risks posed by the country’s ballooning national debt. “The market’s indifference to the shutdown reflects a broader and more troubling complacency about the United States’ fiscal position,” he says. “Investors are treating the gridlock as political noise when, in reality, it’s a warning signal about a system buckling…
UK to Host ADF Replenishment Pledging Session in Dec. The United Kingdom (UK) has announced that it will host the 17th Replenishment pledging session of the African Development Fund (ADF) in December. The session will bring together development partners to agree on contributions for the ADF’s 2026-2028 cycle. The UK’s Minister of State for Development and Africa, Baroness Jenny Chapman, made the announcement during her recent meeting with African Development Bank Group President, Dr Sidi Ould Tah, in New York on the sidelines of the United Nations General Assembly. Baroness Chapman said the UK intends to make a strong pledge…
Ghanaian Banks’ Profitability to Fall Sharply on Lower Interest Rates – Fitch Ghanaian banks’ profitability is set to weaken considerably due to the impact of materially lower interest rates on net interest margins (NIMs), Fitch Ratings says. However, profitability will remain high by regional standards and continue to be a strength of the banks’ standalone credit profiles, the global ratings agency said. Inflationary pressures have decreased significantly due to the Bank of Ghana’s (BoG) tight monetary policy stance, Ghanaian cedi appreciation, fiscal consolidation and an improvement in food supplies. Headline inflation declined to 9.4% in September, the lowest level in…
Naira Rallies to N1466/$ as Foreign Reserves Reach $42.574bn Staying on track, the naira did not give up gaining momentum against the US dollar across the Nigerian Foreign Exchange Market (NFEM), details obtained from the daily FX update from the Apex Bank revealed. The Central Bank of Nigeria (CBN) data showed that the official rate appreciated against the US dollar for second days, touched an intraday low of N1463.5000 per dollar on Thursday. Striking a balance between inflows and corporate demand, the FX spot rate settled at N1466 per dollar, gaining 27 basis points on the previous day. Traders highlighted…
Nigerian Eurobonds Yields Steady, SSA Economies Pay High on Borrowing The Nigerian Eurobonds yields steadied at 8.02% as foreign investors remained cautious and opted to stay on the sidelines while reassessing their portfolio allocations following recent rate cuts by major central banks. The market saw a mild bullish tone on Nigeria’s Eurobonds amid the ongoing U.S. government shutdown, prompting mild buy-interest and a modest rise in yields across several maturities. Compared with other African issuers, offshore investors showed preference for Nigeria’s US dollar bonds, supported by high yields which priced in country’s dynamics. Nigeria’s key market economic indicators are improving…
First Bank Launches 24/7 Digital Centre at BUK First Bank of Nigeria on Thursday inaugurated its state-of-the-art Digital Experience Centre at the Bayero University Kano (BUK), offering round-the-clock automated banking services. The centre provides services such as cash deposits, withdrawals, and payment transactions through advanced ATMs without human assistance. FirstBank Group Head of Branch Operations and Services, Mrs Abimbola Ajayi, said the centre showcased the bank’s digital transformation and makes banking more convenient for customers. She added that the centre’s location within the university was strategic, given the tech-savvy nature of the academic community. Ajayi explained that the centre, the…
Alleged N110bn Fraud: No Banking Regulation Was Breached – Banker A third witness for the Economic and Financial Crimes Commission (EFCC) (PW3), in the trial of former Gov. Mr Yahaya Bello of Kogi says that no banking regulation was breached by the defendants. He made the statement while testifying before Justice Maryanne Anenih of the FCT, High Court, Maitama, Abuja on Wednesday. Bello and his co-defendants Umar Oricha and Abdulsalami Hudu were arraigned on Nov 27, 2024 on a 16-count- charge bordering on alleged property fraud to the tune of N110 billion. The PW3, Williams Abimbola, said during cross-examination, that…
Liquidity: Cash-Rich Banks Chase 24.5% SDF Rate at CBN Window The short-term benchmark interest rates mixed due to the surplus liquidity position in the financial system. Deposit Money Banks (DMBs) continue to park funds with the Central Bank for a 24.5% rate on the standing deposit facility (SDF) window. Despite three straight OMO auctions floated by the CBN, the liquidity level in the financial system closed at approximately N3.8 trillion, AIICO Capital Limited report highlighted. The investment firm stated that the interbank market maintained strong liquidity at ₦3.79 trillion as commercial banks remain active at the SDF window. Total placements…
CBN Reduces Interest Rates on Nigerian Treasury Bills The Central Bank of Nigeria (CBN) reduced interest rates on Nigerian Treasury bills across standard maturities, its primary market auction results revealed. The spot rate on one-year treasury bills was axed by 101 basis points, reflecting its adjustment to the monetary policy rate and robust liquidity in the financial system. The Nigerian treasury bills with 91 days to maturity were spared, while the rate on 182 days bills was slashed by slightly. The authority floated its first treasury bills auction on Wednesday, where N570 billion worth of Nigerian short-term borrowing instruments were…