Proposed FX Gateway Bank May Impact Banks’ Liquidity – Fitch Fitch Ratings, a credit rating agency has said that the proposed foreign currency gateway bank announced by the Central Bank of Nigeria (CBN) may have a negative impact on the liquidity of Nigerian banks. This was...

N9.8trn Debt: FG’s CBN Borrowings May Raise Risks - Fitch Ratings       The Federal Government of Nigeria’s repeated recourse to its Ways and Means facility with the Central Bank of Nigeria highlights weaknesses in public finance management, says Fitch Ratings. Fitch Ratings stated this in its report...

Nigeria’s Rating Suffers Blow From COVID-19, Oil Shock – Fitch   Fitch Ratings has said the coronavirus pandemic and the oil price shock have caused a severe impact on credit rating in Nigeria and some other sub-Saharan African countries. It stated this in its report on Monday...

Nigeria’s Oil Export To Drop By 50% This Year — Fitch Ratings     Fitch Ratings, world’s leading risk analysts, has said that Nigeria’s oil export will record a 50 percent decline by end of this year due to the impact of the Coronavirus (COVID-19) pandemic on...

417,000bpd Oil Cut’ll Deepen Nigeria’s Recession - Fitch   A global credit ratings agency, Fitch Ratings, has said Nigeria’s compliance with the oil production cut deal led by the Organisation of Petroleum Exporting Countries will lead to deeper economic contraction and fiscal deficits. It also said the...

Fitch Ratings has assigned Nigeria’s upcoming senior unsecured USD-denominated notes an expected rating of ‘B+(EXP)’. The assignment of the final ratings was contingent on the receipt of final documents materially conforming to information already reviewed. The rating agency explained in a statement yesterday that the expected...