November 30, 2022/Fitch Ratings Fitch Ratings has downgraded the Long-Term Issuer Default Ratings (IDRs) of seven Nigerian banks and two bank holding companies (BHCs) to ‘B-‘ from ‘B’. The Outlooks are Stable. The rating actions follow the downgrade of Nigeria’s Long-Term IDRs to ‘B-‘ from ‘B’ on 11 November 2022 […]
Money Market
Federal Reserve Board announces annual indexing of reserve requirement exemption amount and low reserve tranche for 2023
November 29, 2022/US Federal Reserve The Federal Reserve Board on Tuesday announced technical details related to reserve requirements for depository institutions. The annual indexation and publication of these amounts are required by law and does not indicate a change in depository institutions’ reserve requirements, which will remain zero. If reserve […]
CBN Unveil Guidelines for Licensing of Banks and OFIs in Nigeria on AML, CFT and CPF of Weapons of Mass Destruction
November 25, 2022/CBN In furtherance of efforts towards promoting compliance with Anti-Money Laundering, Combating the Financing of Terrorism and Countering Proliferation Financing (AML/CFT/CPF) laws and regulations, the Central Bank of Nigeria (CBN) hereby issues this Guidelines for use by individuals and entities applying for licence to operate as banks or […]
