- Moody’s Ratings Changes Seplat Energy’s Outlook to Positive
- Fitch Affirms Qatar at ‘AA’ with Negative Outlook
- Zcash Tops $1,000 as Investors Rotate into Privacy Coins
- Ripple XRP Price Declines on U.S. Fed Rate Hike Fears
- SK Hynix Tokenised bStocks Surges 6% on Regulatory Catalyst
- FG Opens N2.5bn Grant Window for 50 Student Innovators
- Oil Prices Rise 8% as US-Iran Tensions Heighten Energy Risk
- Binance Coin Rises on Pasteur Upgrade, Kalshi Listing Optimism
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.
Ripple (XRPUSD) slumped 5.43% over the last 24h to $1.80, underperforming the broader crypto market’s 4.8% drop. Top crypto assets have seen significant losses as sentiment waned.
CBN OMO Bills Auction Attracts N5.9 trillion in Subscription The Central Bank of Nigeria (CBN) open market operation (OMO bills) attracted significant subscription from deposit money banks (DMBs) and foreign portfolio investors (FPIs). The eligible market participants staked N5.9 trillion on short-term investment securities, which was more than the amount bet on the short-term bills rejected by the authority on Tuesday. As part of efforts to absorb excess liquidity in the financial system, the monetary authority floated OMO bills worth N600 billion for subscription on Thursday. The authority had rejected N4.9 trillion subscription received from investors that bid for OMO…
Oil Prices Surge as ‘Massive Armada’ Heads Towards Iran Oil prices surged further today as markets now brace for potential US military intervention against Iran, which could disrupt regional oil supplies. The price surge was also supported fall in US crude inventories, weak dollar performance across the forex market, and the Federal Reserve’s (Fed) policy decisions. Brent crude traded at $68.40 per barrel, up about 1.4% from the previous close of $67.46. US benchmark West Texas Intermediate (WTI) increased around 1.5% to $64.19 per barrel, compared with $63.23 in the prior session. US President Donald Trump said in a social…
Fitch Ratings has downgraded African Export-Import Bank’s (Afreximbank) Long-Term Issuer Default Rating (IDR) to ‘BB+’ from ‘BBB-‘ with an outlook accorded as stable.
FGN, Aercap Partner to Strengthen Aviation Operational Capacity The Federal Government of Nigeria (FGN) and Aercap, an aircraft leasing company, have collaborated to strengthen aviation operational capacity in the country. This is contained in a statement issued in Abuja on Thursday by Mr Tunde Moshood, the Special Adviser on Media and Communication to the Minister of Aviation and Aerospace Development, Mr Festus Keyamo. Moshood said the duo made the agreement at the ongoing Airline Economics Growth Frontiers Global Conference in Dublin, Republic of Ireland. “Nigeria’s aviation transformation agenda gained further momentum on day two of the conference. “Discussions focused on…
Nigerian Naira Touches N1,392 Per U.S. Dollar at CBN Window The Nigerian naira briefly touched N1,392 per dollar at the Central Bank of Nigeria (CBN) foreign exchange window, reflecting the absence of liquidity pressure in the currency market. The Naira closed the session on a strong note, extending the previous day’s appreciation with a gain of 5bps against the US dollar at the Nigerian Foreign Exchange Market (NFEM) to settle at ₦1,400.48/$. The currency rally was driven by sustained inflows from foreign portfolio investors and local market participants, with the Naira trading within an intraday range of ₦1,392.00/$ and ₦1,415.00/$…
Geregu Power Names Sean Manley Interim Chief Executive Geregu Power Plc has named Sean Manley interim chief executive officer of the company following a change of strategic ownership. Recall that Geregu ex-core investors Femi Otedola divested a 77 percent stake in Geregu Power Plc in a deal valued at $750 million in December 2025. In an official statement, the power-generating company told the Nigerian Exchange it has appointed Manley as interim Chief Executive Officer effective February 2, 2026. The company’s decision is subject to the approval of the Nigerian Electricity Regulatory Commission (NERC) and the shareholders of the Company at…
Ethereum (ETHUSD) surges by about 4% over the last 24h, outpacing the broader crypto market’s 1.85% gain.
Moody’s Ratings has today upgraded the Government of Kenya’s (Kenya) local and foreign currency long-term issuer ratings and foreign currency senior unsecured debt ratings to B3 from Caa1 and changed the outlook to stable from positive.
With a N501 billion over-subscribed local bond, the Federal Government of Nigeria (FG) has taken steps towards resolving an estimated ₦4 trillion power sector debt backlog.