January 19, 2024/CSL Research Money Supply statistics from the Central Bank of Nigeria (CBN) as of November 2023 revealed that currency in circulation (CIC) surged by 21.24% in November to N3.35trn (highest in 2023) from N2.76trn as of September 2023. In the same vein, currency outside banks (COB) rose by […]
Money Market
Ecobank Nigeria Outlook Revised to Negative from Stable on Capitalization Risk; ‘B-/B’ Ratings Affirmed
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 […]
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 […]
