Fitch: Despite positive results by lenders, risks persist
Obinna Chima


Moody’s Investors Service has maintained its stable outlook on the Nigerian banking system, reflecting the rating agency’s view that acute foreign-currency shortages in the country will gradually ease.

But just like Fitch, Moody’s, another international rating agency, held the view that loan risks in the country would remain high.

Moody’s stated this in a report titled: ‘Banking System Outlook: Nigeria.’With oil prices and economic activity gradually recovering in Nigeria, we expect banks’ dollar liquidity pressures to gradually ease over our outlook period,” Vice President and Senior Analyst at Moody’s, Akin Majekodunmi said.

The rating agency anticipated that Nigeria’s real Gross Domestic Product (GDP) growth of 2.5 per cent in 2017 and four per cent in 2018, after a 1.5 per cent contraction last year, as noted in March 2017.

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