The African Export-Import Bank (Afreximbank) has been dealt a fresh blow as Moody’s Investors Service issued a second credit downgrade in less than a month, citing deteriorating asset performance, increased exposure to distressed sovereign borrowers, and a narrowing pool of funding sources. The global ratings agency lowered […]
Category: Exclusives
Exclusives
Wema Bank, Aradel Join NGX30 As Conoil Julius Berger Exit
The Nigerian Exchange Limited on Tuesday announced the results of its half-year market index review, which saw significant changes across several key indices, including the NGX 30 Index. The adjustments, according to the NGX, were based on the market capitalisation methodology, which took effect at the open of […]
Group Seeks FX Transparency, Diaspora Fund Mobilisation
EnterpriseNGR, a leading private-sector advocacy group, has called on the Central Bank of Nigeria (CBN) to adopt more transparent foreign exchange (FX) policies and prioritise diaspora fund mobilisation as part of broader efforts to stabilise the naira and strengthen Nigeria’s macroeconomic resilience. The group made the call […]
Rewane: Tinubu’s Borrowing Must Focus on Revenue, Reform Dividends
An economist and Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has cautioned that Nigeria could face increasing borrowing costs unless the Tinubu administration adopts a more strategic and results-oriented approach to debt management. Rewane made this known during an appearance on Channels Television, Thursday, where he urged […]
FGN Raises ₦4.01bn From June Savings Bonds Amid Lower Yield Environment
The Federal Government of Nigeria has raised a total of ₦4.01bn from its June 2025 issuance of the Federal Government of Nigeria (FGN) Savings Bonds, according to data published by the Debt Management Office (DMO). The offer, conducted between June 2 and June 6, 2025, saw strong interest […]
Chances Rise For Afreximbank Involvement In Debt Restructuring- JPMorgan
The chances of Afreximbank getting involved in a debt restructuring have increased, JPMorgan said on Tuesday, while also upgrading its recommendation on the lender’s bonds to overweight, citing valuations in the wake of the Fitch downgrade. According to Reuters, the African trade and development lender has been at […]
Fitch downgrades Afreximbank To One Notch Above ‘Junk’
Fitch downgraded Afreximbank’s credit rating to one notch above junk on Wednesday, with a negative outlook, citing high credit risks and weak risk-management policies. According to Reuters, the one-notch downgrade to BBB- comes as the African lender battles to protect its loans from restructuring in Ghana, Zambia […]
Oando Profit-After-Tax up 267% to N220 billion in FY2024 Audited Results
Oando PLC, Africa’s leading integrated energy company listed on both the Nigerian Exchange Group (NGX) and Johannesburg Stock Exchange (JSE), posted robust Audited Full Year (FY) 2024 financial results with a 44% increase in revenue to N4.1trillion compared to N2.9 trillion in FY 2023. In the upstream, Oando’s production […]
Onyema Urges Collaboration For Stronger Aviation Security Framework
Chairman of Air Peace Airline, Dr. Allen Onyema, has called for enhanced collaboration across all stakeholders in Nigeria’s aviation sector to build a more robust and adaptive aviation security framework amid growing global threats. Speaking at a symposium organized by the Nigeria Civil Aviation Authority (NCAA) on the […]
Lafarge earns N248.350bn Revenue In Q1
Lafarge Africa Plc has recorded N242.67bn from sales of cement following rising cost of cement in the country driven by inflation. This accounted for 97.7 per cent of the total sales revenue of N248.35bn for the first quarter of the 2025 financial year. The sales […]