[BREAKING] Moody’s withdraws ratings of Nigerian lender Union Bank
Moody’s Ratings announced on Friday that it has withdrawn the ratings of Union Bank of Nigeria Plc due to insufficient
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Money
Bitcoin surges as Fed rate cut expected in weeks
Blue-chip cryptocurrencies Bitcoin and Ethereum surged Thursday as Federal Reserve minutes suggested that U.S. interest rate cuts may commence within
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Africa’s richest man Dangote loses $1.1bn in one month
Aliko Dangote, the richest man in Africa, has lost 7.59 percent of his net worth in the past month, according
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Otedola backs windfall tax, says banks maintain private jets with $50m yearly
Femi Otedola, a billionaire businessman, has said Nigerian banks are spending an estimated $50 million on the maintenance of private
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FBN Holdings suffers N165bn forex loss in six months
FBN Holdings Plc, the parent company of First Bank of Nigeria, posted a foreign exchange loss of N165.05 billion in
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Naira finishes lower despite boost in dollar supply
The naira closed lower against the dollar this week despite an increase in foreign exchange supply at the official market,
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FCMB posts N35bn forex gains in six months
FCMB Group, the parent company of First City Monument Bank Limited, made N35.19 billion in foreign exchange gains in the
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Nigeria’s windfall tax on banks’ forex gains is credit negative: Moody’s
The proposed windfall tax on Nigerian banks by the government will significantly reduce the profits available to the lenders for
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CBN’s latest decision seen piling pressure on banks
The decision by the Central Bank of Nigeria to tweak the asymmetric corridor around the monetary policy rate (MPR) is
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CBN slows down rate hiking, delivers 50bps increase
The Central Bank of Nigeria has increased its monetary policy rate, also known as the key interest rate, by 50
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