March 27, 2020/Fitch Ratings Fitch Ratings has downgraded the three-highest rated banks in Nigeria, Zenith Bank (Zenith), Guaranty Trust Bank (GTB) and United Bank for Africa (UBA), to Long-Term Issuer Default Rating (IDR) ‘B’ and Viability Rating (VR) ‘b’. Fitch has also placed the Long-Term IDRs, VRs and National Ratings […]
Money Market
CBN Suspends FOREX Sales to BDCs Until Further Notice
March 26, 2020/CBN We write to acknowledge the receipt of your letter dated March 24, 2020 on the above subject. While thanking you for the observations raised, we wish to sincerely appreciate the role your Association has played in the stabilization of the exchange rate in the country in the […]
COVID-19: CBN Releases Guidelines for Implementation of N50bn Targeted Credit Facility
March 25, 2020/CBN Further to the CBN Governor’s Press Release of March 16, 2020 and our circular referenced FPR/DIR/GEN/CIR/07/049 in response to COVID-19 outbreak and spillovers, the CBN hereby issues the following attached Guidelines for the. Implementation of the $50 billion Targeted Credit Facility for households and small and medium […]
