Nigerian Banks At Risk From Oil Price Slump, Coronavirus - Fitch Ratings

Fitch Ratings, an international credit rating agency based out of New York City and London, yesterday reported that Nigerian banks' credit profiles face severe risks from the oil price slump and operating environment disruption due to the coronavirus pandemic.

The ratings agency attributed the lenders' asset quality deterioration due to high exposures to the oil and gas sector as the biggest threat to ratings.

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