Fitch Ratings

Business

Nigeria’s $5bn Swap: Fitch Flags Margin Calls, Creditor Risks

Ogochukwu Onwaeze, THEWILL -
Fitch Ratings has raised fresh concerns over Nigeria’s $5bn Total Return Swap with First Abu Dhabi Bank, warning that the financing structure could create additional risks for government liquidity.
Business

Fitch Warns Climate Risks Could Weaken Nigerian Banks’ Asset Quality

Ogochukwu Onwaeze, THEWILL -
July 9 (THEWILL) — Climate-related risks could increasingly weigh on the financial health of Nigerian banks over the coming decades, with rising exposure to vulnerable sectors likely to weaken credit quality and increase loan losses, according to Fitch Ratings. In...
Business

Fitch Ratings Laments CBN’s Forex Backlog

THEWILL. -
January 21, (THEWILL) - Credit ratings agency, Fitch, has said that the Central Bank of Nigeria (CBN) continues to face a shortage of foreign exchange to clear the forex backlog. The country’s high debt-service-to-revenue ratio is also contributing to a...
Business

Fitch Raises Concerns Over Nigeria’$10bn Forex Loan

Sam Diala, THEWILL -
November 06, (THEWILL) - Fitch Ratings has affirmed Nigeria’s long-term foreign currency credit default outlook at B- citing recent policies by President Tinubu as responsible for the stable outlook. It also raised concerns over the proposed $10 billion forex loan...
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NewsUdeme Utip, THEWILL -

CHRAN Tasks Akwa Ibom Assembly To Summon Six Council Chairmen Over Poor Performance

The organisation urged the lawmakers to go beyond adopting an oversight report and compel the affected council chairmen to account for their stewardship, insisting that public officials must explain how statutory allocations are utilised.
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