30 results
- E-Financial18 Aug 2026
Agusto & Co Withdraws A-credit Rating on Geregu Power Over Bond Default
Agusto & Co has withdrawn the ‘A-’ credit rating it assigned to Geregu Power Plc and its N40.09 billion Series 1 Senior Unsecured Bond following the company’s default on the bond’s eighth coupon payment and fourth principal repayment.
- 11 Jun 2024
Fitch Upgrades Coronation Merchant Bank Rating to ‘B-’, Outlook Stable
Fitch Ratings has upgraded Coronation Merchant Bank Long-Term Issuer Default Rating (IDR) to ‘B-2’from ‘CC’ and its Viability Rating (VR) to ‘b-’ from ‘cc’. Fitch has also upgraded the bank’s…
- 28 Oct 2020
Huge Consumer Loans Weigh Banks Down
A Central Bank of Nigeria (CBN), Survey Report has shown that banks experienced higher loan default rates on credit cards and overdrafts/ personal lending to household in the third quarter of the…
- 10 Jun 2024
Fitch Upgrades Fidelity Bank’s Rating to ‘Positive’
Fitch Ratings has revised the outlook on Fidelity Bank PLC's LongTerm Issuer Default Rating (IDR) to Positive from Stable, while affirming the rating at 'B-'. The credit rating agency has also…
- 30 Sept 2021
Fitch Affirms Union Bank’s Long-term Issuer Rating at ‘B-, Stable Outlook
Following a comprehensive rating process, Fitch Ratings has affirmed Union Bank’s Long-Term Issuer Default Rating at ‘B- with a stable outlook. The lender’s Long Term National rating was also…
- 2 Jun 2025
Fitch Upgrades Fidelity Bank’s National Rating to ‘A+(nga)’, Affirms Long-Term IDR at ‘B’
Global credit rating agency, Fitch Ratings, has affirmed Fidelity Bank Plc’s Long-Term Issuer Default Rating (IDR) at ‘B’ and upgraded its National Long-Term Rating to ‘A+(nga)’ from ‘A(nga)’. The…
- 29 Jan 2021
Fitch Assigns ‘B’ Rating To Ecobank Nigeria
The Ecobank Nigeria Limited (ENG), has received a Long-Term Issuer Default Rating (IDR) of ‘B-‘with a Stable Outlook, Viability Rating (VR) of ‘b-‘ and National Long-Term Rating of ‘BBB (nga)’ from…
- 27 Sept 2021
Fitch Upgrades Bank Of Industry’s National Rating to ‘AAA(Nga)’
Fitch Ratings has upgraded Bank of Industry’s (BoI) National Long-Term Rating to ‘AAA(nga)’ from ‘AA+(nga);’ and affirmed the Nigeria-based bank’s Long-Term Issuer Default Rating (IDR) at ‘B’ with a…
- 11 Aug 2026
Nigerians Borrow More to Buy Homes as Mortgage Demand Climbs - CBN
Credit demand for house purchases by Nigerian households rose to 9.6 index points in the second quarter of 2026 (Q2 2026), indicating increased borrowing for personal home acquisition. The Central…
- 20 Jul 2022
Fitch Affirms ‘B-’ Rating for Coronation Merchant Bank
Fitch Ratings has affirmed Coronation Merchant Bank Limited’s (CMB) Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. According to the global rating agency, “the bank’s sound…
- 18 May 2018
Fitch Affirms Nigeria at B+, Dollar steady
by Lukman Otunuga Fitch Ratings has affirmed Nigeria’s long-term foreign currency Issuer Default Rating (IDR) at ‘B+’ with a negative outlook. While B+ is encouraging as the nation continues…
- 19 May 2013
Fitch Assigns FBN Holdings Plc 'B' IDR
The London based rating agency, Fitch Ratings has assigned FBN Holdings Plc (FBNH) a Long-term Issuer Default Rating (IDR) of 'B' and Short-term IDR of 'B'. The Outlook on the Long-term IDR is…
- 30 Dec 2020
Loans Defaults with Collateral Worsened in Q4 – CBN
Central Bank of Nigeria (CBN), has said that default on loans with collateral worsened in the fourth quarter of 2020. Mr. Godwin Emefiele, CBN governor The statistics department of the CBN disclosed…
- 14 Jun 2021
Fitch Assigns IHS Holding Ltd First-Time IDR 'BB-'
Fitch Ratings has assigned IHS Holding Limited (IHS Holding) a first-time Long-Term Issuer Default Rating (IDR) of 'BB-' with a Stable Outlook and a senior unsecured instrument rating of 'BB-' with a…
- 14 Aug 2015
Fitch Affirms African Development Bank at 'AAA'
Fitch Ratings has affirmed the African Development Bank (AfDB)'s Long-term Issuer Default Rating (IDR) at 'AAA' with a Stable Outlook. The Short-term IDR has been affirmed at 'F1+'. A full list of…
- 30 Jan 2026
Fitch Downgrades Afreximbank to ‘BB+’/Stable Amid Concerns Over Ghana’s Debt
Fitch Ratings has downgraded African Export-Import Bank’s (Afreximbank) Long-Term Issuer Default Rating (IDR) to ‘BB+’ from ‘BBB-’. Fitch also downgraded Afreximbank’s Short-Term IDR to ‘B’, from…
- 20 Apr 2021
LAPO Navigates Microfinance through COVID-19
By Edward P. Eze Microfinance Institutions (MFIs) provide the best access to banking services for the majority of such underprivileged populations whose livelihoods have been worst affected by the…
- 15 Jan 2024
Fitch Cautions Against Regulatory Actions on Union Bank Not to Trigger Downgrade Rating
Rating agency, Fitch Ratings, has said that increased regulatory actions or funding instability may lead to a downgrade rating for Union Bank of Nigeria. In its latest rating of the bank, it placed…
- 10 Feb 2020
Nigerian Fintech Aella Raises New $10m in Funding
A Nigerian fintech start-up, Aella has raised a $10m debt financing round, from HQ Financial Group (HQF), Singapore-based private company specializing in new material science, semiconductor and…
- 6 Jan 2023
Agusto Upgrades Wema Bank Funding SPV Series II Bond to ‘Bbb+’ with Stable Outlook
Ratings agency Agusto & Co. has upgraded Wema Bank Funding SPV Plc’s Series II Bond to ‘Bbb+’, with a stable outlook, from the previous ‘Bbb’ score. The Issuer is a Special Purpose Vehicle (SPV)…
- 21 May 2015
Loan Dodgers Owe Banks N138Bn
Loan default by customers made 13 Deposit Money Banks to lose a combined sum of N138 billion in the 2014 financial year, according to calculations by the Punch Newspaper. Data obtained from the 2014…
- 20 Jan 2026
CBN Raises Alarm over Loan Defaults by Households, Corporates
Banks recorded an increase in loan defaults by households and corporates in the fourth quarter of 2025, reflecting growing repayment pressures on consumers and businesses, latest Credit Conditions…
- 7 Jan 2026
Fidelity Bank Completes N500Bn Capital Raise ahead of Deadline
Fidelity Bank Plc said it has raised the required minimum share capital for lenders with international authorisation, boosting its capital base as Nigerian lenders race to comply with tougher…
- 28 Dec 2023
FG to Issue Fresh Regulations for O-pay, Moniepoint, Others in 2024
Federal Competition and Consumer Protection Commission, FCCPC, has disclosed that it would release more regulations for operators in the digital lending space in 2024 to improve loan recovery methods…
- 20 Mar 2020
BOI Raises $1Bn from International Capital Market for SMEs
Bank of Industry (BOI) said it has raised €1 billion (approximately $1.11billion) from the international capital market, towards revitalising Nigeria’s industrial sector and creating 10 million jobs…
- 26 Aug 2020
Fitch Affirms Coronation Merchant Bank’s rating @ B-
Coronation Merchant Bank emerged the first and only internationally rated merchant bank in Nigeria as shown by the recently released Rating Report by Fitch, a global rating agency. Fitch assigned the…
- 4 Nov 2013
Ecobank Transnational Records $299m Pre-tax Profit
Ecobank Transnational Incorporated, a Pan African bank, has recorded strong performance for the first nine months of 2013 with its pre- tax nine month rising to $299 million, representing a 56…
- 25 Aug 2024
SERAP Asks State Governors, Wike to Disclose Details of Chinese Loans
Socio-Economic Rights and Accountability Project (SERAP) has asked Nigeria’s 36 state governors and Nyesom Wike, minister of the Federal Capital Territory, to provide detailed information regarding…
- 9 Apr 2020
Stanbic IBTC Retains AAA, F1+ Fitch National Ratings
According to a recent report by Fitch Ratings, a globally-renowned credit rating agency, Stanbic IBTC Holdings PLC and its banking subsidiary, Stanbic IBTC Bank PLC, have retained their National…
- 16 May 2021
CBN Signals Harmonisation of Forex Rates with Removal N379/$1 Rate from Website
Central Bank of Nigeria (CBN) at the weekend began gradual harmonisation of exchange rates with the removal of N379/$1 official rate from its website. The move by the apex bank is one of the first…