There was uncertainty on Wednesday night over whether or not Heritage Bank, the preferred bidder for Enterprise Bank, had fully paid the bid price for the transaction. The Asset Management Corporation of Nigeria said Heritage Bank had yet to credit its account few hours to the expiration of the October […]
Money Market
Nigeria naira sheds 0.24 pct as demand for dollars grows
The Nigerian naira fell 0.24 percent against the dollar on Wednesday as demand for the U.S. currency strengthened despite the sale of large amounts of dollar by the local unit of Royal Dutch Shell, dealers said. The naira closed at 164.58 to the dollar, weaker than Tuesday’s close of 164.18. […]
Fitch Upgrades Ecobank Transnational Incorporated to ‘B’; Outlook Stable
15 Oct 2014/Fitch Ratings (The Agency released this statement Wednesday) Fitch Ratings-London-15 October 2014: Fitch Ratings has upgraded Togo-based Ecobank Transnational Incorporated’s (ETI, the holding company of the pan-African Ecobank group) Long-term Issuer Default Rating (IDR) to ‘B’ from ‘B-‘ and Viability Rating (VR) to ‘b’ from ‘b-‘. The Outlook […]
