“Fidelity’s IDRs are driven by its standalone creditworthiness, as expressed by its Viability Rating (VR) of ‘b-‘. The VR balances the concentration of operations in Nigeria’s challenging operating environment, high credit concentration and high Stage 2 loans against a growing franchise, sound profitability metrics, good capital buffers and reasonable foreign-currency (FC) liquidity coverage.
Browsing: ECONOMY
Afreximbank said it has disbursed 40 million dollars Intra-African Investment Facility to Fidelity Bank Nigeria Plc to support Fidelity Bank’s acquisition and recapitalisation of Union Bank United Kingdom.
“In a particularly egregious case, a Director on special assignment, tasked with leading the bank’s efforts to secure an ISO certification for information security, was sacked on the very day the bank successfully achieved this crucial milestone.
The record marks a 1.07% increase compared to April, which figures increased to ₦3.92 trillion from ₦3.86 trillion in March, according to data released by the Central Bank of Nigeria.
Residents and drivers in Sokoto State are struggling with surging fuel prices, which have forced them to increase fares and operational costs. The hike affects bike riders, Keke drivers, car owners, and businesses relying on generators.
“Let’s delve into other aspects of our economy. Nigeria is rich, let’s explore, not just taxing, taxing. If you tax people, people will die. If you continue to tax them and tax them, they will die and if people die without fulfilling their life ambition, you will be held responsible.
Some financial experts have commended the Central Bank of Nigeria (CBN) for its proactive action in revoking the operating licence of Heritage Bank Plc in order to save depositors’ funds.
In 2024, Nigeria’s gross national savings increased to 26.32 per cent of Gross Domestic Product, up from 24.61 in 2023. Total investment also rose to 25.75 per cent of GDP in 2024, compared to 24.28 in 2023, according to the report.
The performance indicators of the stock market rebounded by 0.24 per cent on Wednesday. Specifically, the market capitalization opened at…
The statement further said that under the rights issue, 3,200,000,000 ordinary shares of 50 kobo each will be offered in the ratio of 1 new ordinary share for every 10 ordinary shares held as of 05 January 2024, at ₦9.25 per share, while for the Public Offer, 10,000,000,000 ordinary shares of 50 kobo each will be offered to the general investing public at ₦9.75 per share.