On Nov. 7, 2012, Standard & Poor’s Ratings Services raised its long-term foreign and local currency sovereign credit ratings on the Republic of Nigeria to ‘BB-‘ from ‘B+’. At the same time we affirmed the ‘B’ foreign- and local-currency short-term ratings. We raised the long-term national scale rating to ‘ngAA-‘ […]
More News
NDIC pays N6.68bn to failed banks’ depositors
The Nigerian Deposit Insurance Corporation has said that it paid a cumulative insured deposit of N6.682bn to depositors of 48 banks in liquidation as at August 2012. The Managing Director, NDIC, Mr. Umaru Ibrahim, said the amount was against the N6.636bn paid to 527,942 depositors in December 2011. He spoke […]
Wema Bank Poised To Return To National Bank Status
November 9, 2012 / Press Release /Wema Bank Plc …set to receive N35billion Capital Injection; Deposit Volumes growing at annualized rate of 15% Wema Bank, Nigeria’s most resilient financial institution and oldest surviving indigenous lender, yesterday, announced plans to reapply for a National Banking License in view of a proposed […]
