Search

Fidelity Bank fully redeemed its $400 million 7.625% Eurobond at maturity on 28 October 2026, completing the five-year instrument with all coupons paid on schedule.

Nigerian banks increased lending to traders in the first half of 2026 while manufacturing saw a sharp drop in outstanding credit, according to a Nairametrics Research analysis of Central Bank sectoral data.

Banks are holding more than N6 trillion in deposits at the Central Bank of Nigeria after a N2.4 trillion Open Market Operation repayment injected a surge of liquidity into the banking system.

Nigerian banks reduced credit to the manufacturing sector by 26.8 per cent in the second quarter of 2026, according to Central Bank data, with outstanding loans falling to N5.19 trillion as high rates and risk pricing constrained disbursement.

Fitch Ratings has moved nine Nigerian banks and two bank holding companies to Positive outlook from Stable while affirming their long-term issuer default ratings at B, following its October 9 revision of Nigeria's sovereign outlook.