May 10, 2021/Fitch Ratings Fitch has affirmed the Long-Term Issuer Default Ratings (IDRs) of FBN Holdings Plc (FBNH) and its primary operating subsidiary, First Bank of Nigeria Ltd (FBN), at ‘B-‘ with a Negative Outlook. The affirmation reflects our view that the impact of the Central Bank of Nigeria’s (CBN) […]
Updates
Official Reserves Rose by US$60m to US$34.88bn in April 2021
May 10, 2021/Proshare We see from CBN data that official reserves rose by USD60m to USD34.88bn in April. The buffer increased steadily to USD35.26bn mid-month before an equally steady decline in the second half of April. To obtain a fuller picture, we should adjust this gross figure for the pipeline […]
MTN Nigeria Announces Issuance of N110 Billion First Telco Bond
May 10, 2021/MTNN MTN Nigeria Communications Plc (MTN Nigeria) has successfully completed the issuance of N110,001,000,000 Series 1 7-Year 13.0% Fixed Rate Bonds due 2028 (Series I Bond) under the N200,000,000,000 Bond Issuance Programme. The Company had initially indicated the intention to raise N100bn in Series 1 of the registered […]
