The Bank was assigned a Long Term IDR of 'B-' with a Negative Outlook by Fitch.
The CRR debits on Nigerian banks have exceeded the N2 trillion mark in 2020 alone.
A new report by Fitch has downgraded Nigeria's Long-Term Foreign-Currency Issuer Default Rating (IDR) to a 'B' rating.
According to Moody’s Investors Services, the depreciation in Naira will put a strain on the assets of Nigerian banks struggling to raise asset.
Fitch, an international credit rating organisation, has released an end of year report on the Nigerian economy.
Fitch, an international credit rating organisation, has downgraded Nigeria’s economic outlook from stable to negative while affirming the B+ rating. #FITCH #+B-RATING