Author: Olu Anisere
Olu Anisere
Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.
Naira Official Rate Weakens as Foreign Reserves Pull Back The naira’s official rate weakens due to FX liquidity shortages, as data from the Central Bank showed a sharp decline in interbank turnover and fewer deals. Still, the exchange rate outlook remains positive, though external reserves have continued their downward trend, falling by $712 million, in contrast to the oil-windfall-linked projection. The new week saw the Naira at the Nigerian Foreign Exchange Market (NFEM) close on a negative note, depreciating by 42bps or ₦5.86 against the U.S. Dollar. The depreciation followed the previous week’s negative performance and was driven by renewed…
With Brent down 15%, oil prices retreated sharply on Wednesday due to the U.S.-Iran temporary ceasefire, which could pave the way for negotiations to end Middle East tensions.
The Nigerian Exchange (NGX) topped N130 trillion in market cap on Tuesday as investors gained N208 billion. The local bourse performance was boosted by fresh bargain hunting in financial stocks, with FirstHoldco gaining about 10%, and GTCO rose more than 2%.
Naira Depreciates to N1,386 as Interbank Turnover Slides The naira depreciated to N1,386.65 per US dollar at the Nigerian foreign exchange market (NFEM) as interbank turnover reduced from the previous week’s close. According to daily FX data from the Central Bank, the official rate was quoted at N1386.6573 on Tuesday, down from N1,380.79 per dollar last week. FX liquidity declined with the exchange rate quoted between the intraday high and low of N1,390 and N1,381 per dollar, according to daily FX data published on Tuesday. NFEM interbank turnover reduced to N48.655 million across 71 deals, from N73.900 million last week,…
Oil Prices Climb Ahead of Deadline to Reopen Hormuz Oil prices edged higher on Tuesday but remained volatile, as markets focused on the approaching deadline set by US President Donald Trump, requiring Iran to reopen the Strait of Hormuz or face potential strikes on its power plants and bridges. International benchmark Brent crude futures traded at $109.97 per barrel. US benchmark West Texas Intermediate (WTI) rose about 0.5% to $112.93 per barrel. The prospect of escalation in the Middle East conflict and the looming deadline for a deal kept markets on edge. Over the past 4 weeks, Crude Oil WTI…
Why 57 Properties Linked to Malami Should Be Forfeited Permanently -EFCC The Economic and Financial Crimes Commission (EFCC) told the Federal High Court in Abuja that the 57 properties allegedly linked to Abubakar Malami, SAN, former Minister of Justice, should be permanently forfeited to the Federal Government. The EFCC, in a motion on notice for final forfeiture of the property filed by its team of lawyers led by Jibrin Okutepa, SAN, and Ekele Iheanacho, SAN, told Justice Joyce Abdulmalik that the respondents had failed to place sufficient evidence before the court to warrant the court to vacate the earlier interim…
The National Palm Produce Association of Nigeria (NPPAN) says the country will be self sufficient and meet its global market share of oil palm by 2050.
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) says the recent rise in Liquefied Petroleum Gas (LPG) prices is driven by supply constraints and global market pressures.
The dollar index (DXY) moved back below 100 after reaching 100.5 early in the session, as traders assessed the latest developments in the Middle East.
Ripple’s XRP price has been hovering around $1.31 over the past 24 hours, down 0.28%, and over the last week, it has decreased by 1.78%. For some crypto investors, the tight price movements signal stability amid geopolitical instability, reducing investment appetite.