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 Opens Weak, Nigeria’s FX Reserves Signal Uptrend The Nigerian naira opened weak on Monday after a weekly value depreciation of N10 against the US dollar. The local currency fluctuated despite the authority interventions in the official window, suggesting rising demand for international payments. The FX market report revealed that the naira weakened against the U.S. dollar, declining by 0.70% in the official market to close at ₦1,371.04 on Friday. The local unit opened at N1381.39, according to the Central Bank of Nigeria (CBN) daily FX data publication, amid fluctuations in interbank FX turnover. In the parallel market, the local…
Ripple (XRP) price rose 2% to $1.42, outpacing a flat Bitcoin, driven by regulatory optimism following the U.S. Senate’s advancement of the CLARITY Act.
S&P Global has upgraded its long-term ratings on Nigeria to ‘B’ from ‘B-‘, citing higher oil production and prices, the large increase in domestic refining capacity, and the 2023 decision to liberalise the exchange rate.
Brent and US West Texas Intermediate light sweet crude oil prices saw strong weekly gains of about 10% on a week-on-week basis as renewed concerns over US-Iran tensions and possible disruptions to crude flows through the Strait of Hormuz kept geopolitical risks at the centre of market sentiment
CSCS, Other Market Operators Set for T+1 Settlement Transition Operators in the Nigerian capital market have assured investors and stakeholders of their readiness for the transition to the T+1 settlement cycle scheduled to commence on Monday, June 1. The operators gave the assurance during a virtual discourse on “Driving Market Readiness: Trade Associations and the Transition to T+1 Settlement Cycle”, held on Friday and organised by the Central Securities Clearing System Plc(CSCS). T+1 settlement cycle means stock market transactions will be completed one business day after execution, replacing the current T+2 system. The Director-General of CSCS, Mr Shehu Shantali, said…
Economic Hardship in Nigeria Painful but Necessary – Alake The Minister of Solid Minerals Development, Dele Alake, says the current economic difficulties in Nigeria are painful but are part of the necessary transition toward building a resilient and sustainable economy. Alake stated this at the maiden edition of the Solid Minerals Excellence Awards (SOMEA) in Abuja. He said Nigeria was undergoing a decisive economic transformation aimed at achieving long-term prosperity, industrial growth and national development through bold reforms and strategic leadership. He said the administration of President Bola Tinubu remained committed to implementing difficult but necessary reforms to address corruption,…
NGX Dips, Investors Lose N1.23trn on MTN, Aradel Selloffs The Nigerian Exchange (NGX) All-share index (ASI) dipped on Friday amid selloffs in MTN Nigeria, Aradel Holdings, and Consumer goods stocks like Unilever and PZ Cussons. The market closed the week in negative territory, with key market performance indicators declining by -0.76% on the day, driven by weak bargain hunting. The market index or All-Share Index fell by -1,912.19 basis points in today’s trading session, indicating a -0.76% decline to close at 250,330.92, while market capitalisation fell by ₦1,225.57 billion to close at ₦160.44 trillion. The total volume of all trades…
Oil Tops $107 as U.S. Plans to Force Hormuz Reopening Oil prices climbed on Friday as reports of possible renewed US military action against Iran and rising tensions around the Strait of Hormuz heightened concerns over global supply security. International benchmark Brent crude traded at $107.41 per barrel, up around 1.6% from the previous close of $105.72. US benchmark West Texas Intermediate (WTI) increased about 2% to $103.19 per barrel, compared with $101.17 in the previous session. Prices gained after reports suggested US President Donald Trump may reconsider military options against Iran following his visit to China. Israeli and US…
Investors poured funds into Nigerian Treasury bills, though a relatively moderate trading activity was recorded in the fixed-income market ahead of the inflation figures release on Friday.
Zambia Progresses, Rebuilds Foreign Reserves, Tames Inflation -IMF Zambia has made substantial progress in consolidating hard-won macroeconomic stabilisation under the recently completed supported program by the International Monetary Fund (IMF, according to an official statement released by staff team led by Edward Gemayel. IMF said the country’s inflation returned to the Bank of Zambia’s target band in April 2026, international reserves were rebuilt to 4.4 months of prospective imports, and the primary fiscal balance recorded a surplus of 3.1 percent of GDP in 2025. However, the IMF noted that the country’s fiscal pressures intensified in 2026, reflecting the impact of…