Nigeria’s naira firmed against the U.S. dollar on Monday, after some offshore funds bought the local currency to participate in the debt market in Africa’s biggest economy, dealers said. The local unit closed at 162.36 naira to the greenback, marginally firmer than Friday’s close of 162.40 naira. Dealers said the […]
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Tier-1 Banks H1-14 Analysis: Who is the fairest of them all?
Cordros Capital/Sept; 08 2014 The Nigerian banking sector had a tough year in 2013 as a raft of regulatory changes (ATM fee cancellation, public sector CRR hike, reduction in CoT to N3/mille, increase in AMCON charge to 0.5%) negatively hit their operational capabilities. The regulatory flux and banking sector challenges […]
S&P assigns BB, stable outlook to Skye Bank
A leading global rating agency, Standard and Poor’s, has assigned (B/stable/B) to Skye Bank Plc in its latest rating. S&P said it based its rating of the bank on Nigeria’s positive economic prospects which will support Skye Bank’s earnings growth, capitalisation and asset quality over the next 12 to 18 […]