Moody’s: Nigerian banking system outlook stable
23 February 2023 | 5:32 am
Despite challenges from the difficult operating environment and foreign currency shortages in the country, Moody's says it expects the Nigerian banking system to be stable due to a resilient financial performance. Mik Kabeya, Vice President and Senior Analyst at Moody's Investors Service, joins CNBC Africa to discuss this report and Moody's outlook for the banking sector of the West African Economic and Monetary Union.
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The Nigeria Centre for Disease Control and Prevention has placed Nigeria at high risk of Lassa fever transmission. According to Dr. Ifedayo Adetifa, the Director General for the centre, he says if the trajectory of increased cases continues, Nigeria may record its largest outbreak this year.
Shine bright at AFRICANXT 2023! The Guardian will also be hosting a session. Network with top innovators, attend workshops, and more 🚀
Nigeria will elect a new president on February 25 to take over from Muhammadu Buhari in a contest pitting the old guard against a third-party candidate seeking to upset the established political order. There are 18 candidates on the ballot, but only three are considered the top contenders.
The Independent Petroleum Marketers Association of Nigeria has refuted claims it will embark on a shutdown of operations today as the NNPC and other regulatory bodies begin the enforcement of ₦195 per litre pump price of petrol.
The run-up to a vote is usually a chance for small businesses like Shimatex Prints to cash in on election paraphernalia ranging from hats and flip-flops to tissue boxes and cooking oil labels. But business in Abuja has been slower than usual ahead of the February 25 vote as candidates have hinged more campaigning on social media.
Three top contenders are competing to take over from Nigeria's President Muhammadu Buhari in a battle that pits the old guard against a third-party candidate who is seeking to harness anger among young Nigerians.
Ahead of Nigeria's elections, voters help electoral authorities test out a new system meant to head off vote rigging. Also, we hear from Hamitraoré, an Ivorian activist trying to hasten FGM's end by bringing discussions about its impact into the open. Finally, Tunisians frustrated by a stagnant economy find new ways of doing business, both above board and on the black market.
With little more than two weeks to go before Nigeria's presidential election, the tensions caused by a chaotic change in currency have soured the mood. Also, as daily rolling power cuts across South Africa continue to hit the economy hard, President Cyril Ramaphosa declares a state of disaster over the crisis.
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