Banking

Fitch affirms UBA’s viability rating as Agusto upgrades rating to “Aa”

-as UBA stock now best performing on the exchange Fitch International, one of the foremost global rating agencies has affirmed United Bank for Africa (UBA) Plc’s viability rating at “B”, as the pan-African banking group continue to sustain its benchmark asset quality and strong profitability amidst industry and macroeconomic challenges. UBA is one of the […]

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Skye Bank: New M.D unveils vision

The new Group Managing Director/Chief Executive Officer, Skye Bank Plc, Mr. Tokunbo Abiru, has reiterated the the Central Bank of Nigeria’s position that the lender remains healthy and strong. Abiru, who spoke after taking over from his predecessor, Mr. Timothy Oguntayo, said that the bank’s fundamentals remained strong and assured the customers and other stakeholders […]

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Godwin Emefiele

CBN replaces Skye Bank chair, MD, says depositors’ funds safe

The Central Bank of Nigeria on Monday wielded the big stick by replacing some key members of the Board of Directors and management team of Skye Bank Plc, saying its findings revealed that the bank had fallen short of the minimum thresholds in critical prudential and capital adequacy ratios, Punchng report. As a result, the […]

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Interbank rate drops as market liquidity surges

The nation’s interbank overnight rate fell to five per cent on Friday from 15 per cent a week ago, as cash from maturing treasury bills and payments by the government to contractors helped boost liquidity. The increased cash flow left the money market with a N267.10bn surplus balance on Friday, reversing the N300bn shortfall of […]

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