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.
VFD Group Shrinks by 10% after Rights Issue VFD Group Plc lost 10% of its market value on the Nigerian Exchange (NGX) on Monday, following the regulator’s approval of its recent rights issue. Trading data from the local bourse showed that the investment company’s share price declined to N11.25, as 5.727 million units of the company’s shares outstanding, valued at N69.231 million, were exchanged in an open transaction. This widened VFD price movement, with the stock trading about 41% below its 52-week high. VFD Group dropped while financial stocks recorded significant positioning. Trading data over the last 7 days indicates…
Naira Strengthens by N8.46 Against the US Dollar The Naira exchange rate improved versus the dollar at the official FX market on Monday, settling at N1,357.76 per U.S. dollar, according to the daily update released by the Apex Bank. Data published on the website of the Central Bank of Nigeria (CBN) showed the Naira gained N8.46 during Monday’s trading session. The development reflects a 0.6 per cent increase from Friday’s closing rate of N1,366.23 to the dollar. The Nigerian currency has recorded steady one-week appreciation amid sustained market activity and foreign exchange supply. The nation’s foreign reserves surged past $50…
FairMoney Names Gbenga Shobo Board Chairman FairMoney Microfinance Bank on Monday appointed Gbenga Shobo, former Deputy Managing Director of First Bank of Nigeria Ltd., as its Chairman. The bank also announced the appointment of Debo Aderoju as Executive Director and Chief Risk Officer to strengthen leadership and corporate governance. FairMoney said the appointments were aimed at strengthening governance frameworks and executive capacity as it expands operations in Nigeria’s growing digital financial services sector. Commenting, Managing Director Henry Obiekea said the bank had reached a critical stage at which strong governance was essential. “The bank is at a critical inflection point…
Naira Climbs as International Payments Ease as Imports Slow The naira strengthened across both exchange channels on Monday, appreciating 0.62% to ₦1,357.77/$ at the Nigeria foreign exchange market (NFEM) window. The spot rate climbed to ₦1,395/$ in the parallel market, reflecting improved currency sentiment across both the regulated official segment and the informal foreign exchange market. Importation of petrol and other manufacturers’ materials has been declining since the U.S.-Iran war disrupted global trade. The local oil regulator has also reduced the number of oil import licenses, thereby reducing payments for oil imports into Nigeria. Exporters inflows reduced, while foreign portfolio…
UN Secretary-General, Antonio Guterres, has urged governments, institutions and communities worldwide to intensify efforts to combat Islamophobia and protect Muslims from discrimination, hostility and violence.
XRP Gains on Network Utility Boost, Price Rises to $1.42 Ripple (XRP) records a 2.4% gain over the last 24 hours, trading at $1.42 amid declining trading volume. XRP climbed as the price rebounded, while trading volume across the crypto market fell by more than 24 hours. This is a mixed signal for XRP. The declining volume amid price gains can indicate weakening momentum or a lack of conviction, but it can also represent a consolidation phase before a larger move, especially when paired with strong fundamental network growth. With the movement, XRP outpaced Bitcoin’s 1.2% uptick in the same…
Julius Berger Flatlined on Low Trading Volume Julius Berger Plc.’s 1.60 billion outstanding shares valuation remained steady at N460.800 billion in the Nigerian stock market due to thin trading. The construction company’s share price has remained flat despite the broader market’s direction, closing at N288 on Friday as investors traded 201,367 units valued at N52.344 million. Julius Berger’s trading volumes ranged from 43,718 to 506,055 last week, keeping its share price and overall market value stagnant despite positive swings in the broader market. The share price, which peaked at N290 in February, has moved slightly to N288. In 2025, Julius…
Fitch Ratings has revised the Outlook on Rwanda’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to Stable from Negative and affirmed the IDR at ‘B+’.
Solana (SOL) inched up 5.12% over the past 24h to $91.46, supported by a potent mix of macro tailwinds, institutional flows, and strong on-chain accumulation.
Repo and overnight lending rates diverged as banks’ deposits at the Central Bank’s Standing Deposit Facility fell following the midweek Treasury bills auction.