Money Market

FirstBank Says Branches Open Nationwide

March 28, 2020/FirstBank of Nigeria   Following the directives for partial lockdown in several  States across the country, we will be offering skeletal services in some of our branches across the nation. These branches will be open from 9:00am to 2:00pm, Monday to Friday. We have implemented all necessary health […]

Fitch Downgrades 3 Nigerian Banks to ‘B’, Places All 10 Banks on Negative Watch

March 27, 2020/Fitch Ratings Fitch Ratings has downgraded the three-highest rated banks in Nigeria, Zenith Bank (Zenith), Guaranty Trust Bank (GTB) and United Bank for Africa (UBA), to Long-Term Issuer Default Rating (IDR) ‘B’ and Viability Rating (VR) ‘b’. Fitch has also placed the Long-Term IDRs, VRs and National Ratings […]

CBN Suspends FOREX Sales to BDCs Until Further Notice

March 26, 2020/CBN We write to acknowledge the receipt of your letter dated March 24, 2020 on the above subject. While thanking you for the observations raised, we wish to sincerely appreciate the role your Association has played in the stabilization of the exchange rate in the country in the […]