“Some companies (banks) have already begun to slash their CAPEX and will most likely cut dividend payouts in 2020.”
Earlier this morning, GTBank issued a statement announcing that only 11 branches in Lagos would be open as the lockdown easing begins.
The Nigerian economy, which had hitherto been fragile, has been badly hit by the impact of the lockdown resulting from the coronavirus outbreak.
Debts owed by the upstream oil and gas sector in Nigeria only represent about 19%-25% of banks' loan books, according to Lanre Buluro of Chapel Hill...
The outbreak of the coronavirus disease has worsened the outlook for Nigeria’s hitherto fragile economy due to the pandemic.
Prior to when an Italian national brought in Nigeria’s first COVID-19 case in late February, many Nigerians perceived the contagious virus as a “white man” disease.
This article reviews the strength of Nigerian banks by checking for asset quality deterioration through reviewing their recent audited financial results.
The financial approach used by Nigeria’s oil companies against lower oil prices will affect their chances of making it through.
The crash in crude oil prices globally and the coronavirus pandemic appear to have negative effects on the Nigerian banking industry.
The CBN recently adjusted the rate in the Investors and Exporters Foreign exchange window to N380/USD from the N364 to N370.