January 18, 2024/Source: S&P Global Ratings Ecobank Nigeria Ltd.’s high share of foreign currency loans and problem loans is compounded by the weakening Nigerian naira and a shortage of U.S. dollars in Nigeria. Further potential depreciation of the naira could undermine the bank’s regulatory capital adequacy ratio (CAR), given its […]
Money Market
Access Holdings Announces CBN’s Approval-in-Principle to Establish Consumer Lending Subsidiary
January 17, 2024/NGX Access Holdings Plc is pleased to inform that it has obtained the Central Bank of Nigeria’s approval-in-principle to establish a consumer lending subsidiary to be known as Oxygen X Finance Company Limited. The proposed subsidiary will make a positive impact on the financial landscape by providing innovative […]
Fitch Places Union Bank of Nigeria on Rating Watch Negative Following CBN Intervention
January 15, 2024/Fitch Ratings Fitch Ratings has placed Union Bank of Nigeria PLC’s (UBN) Issuer Default Ratings (IDRs), Viability Rating (VR) and National Ratings on Rating Watch Negative (RWN). A full list of rating actions is below. UBN’s Government Support Rating of ‘no support’ is not affected by this rating […]
