Fitch expresses concern over Nigeria’s ability to support banks

PUBLISHED: Thu, 29 Nov 2018 14:29:01 GMT


Fitch Ratings says it believes that sovereign support to Nigerian banks cannot be relied on given the country’s weak ability to provide support. Fitch has placed all Nigerian banks at "No Floor" with support ratings at 5 noting that senior creditor cannot rely on sovereign support if any of the banks become non-viable. Janine Dow, Senior Director at Fitch Ratings joins CNBC Africa to discuss Nigeria’s banking sector.