Fitch: Nigerian banks at severe risk from oil price slump & COVID-19

Fitch Ratings say the credit profiles of Nigerian banks faces severe risks from the slump in oil prices and a disruption in the operating environment due to the coronavirus pandemic. Fitch noted that the weighted -average cost of risk for Nigerian banks its rates rose by 200 basis points during the 2015 oil price shocking they do not rule out a similar increase this year. Mahin Dissanayake, Senior Director at Fitch Ratings joins joins CNBC Africa for more.

Thu, 02 Apr 2020 14:08:16 GMT

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