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Opinion

Nigerian Banks Face Earnings Dip

S&P Global Ratings
Nov. 8, 2022, 12:09 p.m.
818

Word count: 581

Banks in Nigeria could see reduced earnings, alongside weaker lending growth and asset quality, after the Central Bank of Nigeria (CBN) raised its main monetary policy rate (MPR; repo rate) by 150 basis points (bps) on September 27. The monetary policy committee's latest move not only raises the repo rate to 15.5%, but also banks' cash reserve requirement to a minimum of 32.5% (up 500 bps), amid persisting foreign exchange shortages in the country.

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At Africa Global Funds (AGF) we are focused on reporting exclusively on the African Asset Management industry (traditional and alternative asset classes). Featured in our monthly magazine you will find exclusive interviews, analysis, news, comments and more dedicated to the topic. Each month we also compile data on the latest PE (fundraising, deals, and exits), Funds and Markets performance stats, along with economic indicators; available in the magazine and online.

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