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Nigeria in 1min: Economic, Business and Financial Headlines - 060223

Feb 06, 2023   •   by   •   Source: Proshare   •   eye-icon 383 views


What to Expect from the Markets this Week - 060223 - Moody’s has downgraded Nigeria’s long-term foreign currency, local-currency issuer ratings, and also foreign currency senior unsecured debt ratings to Caa1 from B3 and changed the outlook to stable. The new rating concludes the review for the downgrade initiated on 21 October 2022. Source Proshare Research Read More



S&P Revises Nigeria’s Outlook to Negative from Stable on Weakening Fiscal and External Metrics'; 'B-/B' Ratings Affirmed - On Feb. 3, 2023, S&P Global Ratings revised its outlook on Nigeria to negative from stable. At the same time, we affirmed our 'B-/B' long- and short-term foreign and local currency sovereign credit ratings on the country. Source S&P Ratings Read More

Outlook 2023 - The 2022 Global Economy in Retrospect - GDP growth declined to 3.2% from 6% in 2021, with Advanced economies slowing to 2.4% in 2022 from 5.2% in 2021. Emerging Markets and Developing Economies on the other hand recorded a 3.7% growth in 2022 this represents a 2.9 percentage point decline from the 6.6% growth recorded in 2021. Source Proshare Research Read More


Naira Redesign: Hope PSBank Commences New Initiative to Drive CBN Policy - Speaking at a press conference to unveil the initiative on Friday, February 3, 2023, the Managing Director of the bank, Ogechi Altraide, explained that this initiative is targeted at promoting a cashless economy and ensuring that Nigerians, particularly the unbanked, perform transactions through electronic channels across the country. Source TheCable Read More

Cash Crunch: Electronic Banking Platforms Collapse Under Traffic Surge - The Nigerian banking public continues to face hardship in accessing their funds as cash scarcity persists while alternative channels have remained problematic at best. Source Leadership Read More

Stallion Nigeria Refutes Claim of Alleged Debt to GTB, Says Matter Pending in Court - Stallion Nigeria has refuted reports that it is indebted to Guaranty Trust Bank (GTB) to the tune of N13 billion. Reacting to reports that GTB took over its assets over the debt, the firm claimed that no such debt exists. Source Premium Times Nigeria Read More



London Emerges as World’s Most Crypto-Ready City for Business — Research - United Kingdom Prime Minister Rishi Sunak’s vision to “ensure the U.K. financial services industry is always at the forefront of technology and innovation” is on the right path, research conducted by Recap shows. Source Cointelegraph Read More


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