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Author: 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.
Fitch Ratings has affirmed LG Electronics Inc’s (LGE) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘BBB’ with a stable outlook.
Quant Gains 8% on Robinhood Listing Announcement Quant (QNTUSD) gained 8% to $80 in early trading on Friday, significantly outpacing the broader market, which is up just over 1%. Quant is gaining attention for its technical resilience and enterprise progress while the broader market stumbles. Following a hawkish Federal Reserve meeting that sparked a broad crypto selloff, Quant was a notable outlier. While the total market cap fell 1.5% and Bitcoin dropped below $70,000, QNT was listed among the top gainers for the day The move is primarily driven by a major retail exchange listing, which has improved access and…
GCR Ratings (GCR) has assigned Leadway Holdings Limited national-scale long- and short-term issuer ratings of AA(NG) and A1+(NG), respectively, with a stable outlook.
The Saudi Defense Ministry said Thursday air defenses intercepted a ballistic missile targeting the Red Sea port of Yanbu and reported a drone impact at a key oil refinery as regional tensions escalate.
GTCO Plc lost 7.41% of its market value in the Nigerian Exchange (NGX) on Friday as investor sentiment deteriorated ahead of the 2025 earnings release.
Crude oil prices fell in the global commodity market on Wednesday as Iran entered into a side agreement to boost export flows.
The naira showed remarkable strength, appreciating by 0.99% to close at ₦1,344.42 per dollar in the Nigerian Foreign Exchange Market (NFEM). This upward trend reflects a positive shift in currency sentiment within the regulated market, with foreign payments slowing relative to US dollar volume.
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…