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Nairaland Forum / Nairaland / General / Business / High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings (9937 Views)
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High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by Truth234(m): 6:45am On Jul 30, 2016 |
Nigerian banks are likely to face more challenges as the nation’s benchmark interest rate continues to rise, global credit rating agency, Fitch Ratings, has said. http://investorsking.com/high-interest-ratell-worsen-nigerian-banks-woes-fitch/ 1 Like |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by engrdosmen01(m): 7:06am On Jul 30, 2016 |
First to comment. Nice one |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by oscarnoble(m): 7:06am On Jul 30, 2016 |
Nearly 2day is gonna be a good day |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by gbaskiboy: 7:07am On Jul 30, 2016 |
Third to comment. He go better, that's a typical mantra that keeps us going. We'll get there |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by onatisi(m): 7:07am On Jul 30, 2016 |
This government has lost control of the ecomomy 21 Likes 3 Shares
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Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by Mimisboygreat: 7:08am On Jul 30, 2016 |
which way naija? una no go succeed in killing us in this country! our economy will soon discover mungo park the way it is going. ![]() |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by peter1994(m): 7:09am On Jul 30, 2016 |
Even though I respect Naija's decision to refuse IMF's help, I must admit that it is a dumb move. Because it's obvious that things are going bad and what we need are local n foreign investors but if we continue to act like this, we won't get any cos nobody wants to go down with the sinking ship Thats why I respect people like ATIKU, cos he tries to invest some of his loot in Nigeria (his University, Intel that manage Onne sea Port in PH etc) 4 Likes |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by grandstar(m): 7:10am On Jul 30, 2016 |
The country has no choice but to turn to the IMF. That will help restore global confidence in the economy which has taken a blow due to some unsound economic policies of this administration. The government also needs short term funds to stabilise itself and the economy. A bailout can not be ruled out 3 Likes |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by Figs(m): 7:10am On Jul 30, 2016 |
government of change.them neva see anything.2019 som brainless goons will stil vote clueless politicians to lead them to pits and throw them in 11 Likes |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by Neduzze5(m): 7:11am On Jul 30, 2016 |
Kai Buhari!! ![]() 7 Likes |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by Nobody: 7:11am On Jul 30, 2016 |
You guys should not just talk, if you're concerned Nigeria may go the Zimbabwe way, pls erect megaphones at Aso rock and shout it into our Deaf President and his trial-and-error economic team's ears 9 Likes |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by virginboy1(m): 7:12am On Jul 30, 2016 |
Buhari : my government will pay unemployed Nigerians 5k every month. People be like: sai Baba... change is here..Nigeria will rise again! . Buhari: I never promised to pay unemployed Nigerians 5k each month. . People be like: No mind those Jonathanians. With their fake news. Show us links where he promised that. We are solidly behind you. Nothing for yam eaters . Buhari : We have started collection of data to enable us pay the unemployed graduates 5k. . People be like : Where are those TANoids that said Baba is not a promise keeper...shame on all PDP. Baba till 2023 ! . Buhari: I wont pay 5k to unemployed youths. Its not a priority ! . People be like: Baba is right! Whats the use of 5k? What can 5k do to anyone. Mr president we love u. Best president ever! . I wont be surprised if I wake up tomorrow and hear : . Buhari: Unemployed Nigerians should pay 5k every month to the government: . And still people be like: Think of what u can do for your country and not what your country can do for you. Baba is right. But I know those unpatriotic wailers wont pay . I don't think this is ordinary 36 Likes 2 Shares |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by Truth234(m): 7:12am On Jul 30, 2016 |
My post before interest rates was increased CBN didn't fail to lure local and foreign investors, uncertain global economic outlook after the U.K exit the European Union and unfavorable business environment in Nigeria forced both foreign and local investors to hold back. After interest rates was increased How does this make sense to you? You are giving investors money without considering real economic growth, what about 25 year high unemployment rate? So is better not to create jobs and give money to oyinbo wey no send you. My new post, 20 percent inflation rate in this third quarter. 5 Likes 2 Shares |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by virginboy1(m): 7:14am On Jul 30, 2016 |
sapiosexual1: BUHARI is a scam 6 Likes 1 Share |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by johnstar(m): 7:15am On Jul 30, 2016 |
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Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by Yian1(m): 7:16am On Jul 30, 2016 |
You said you raised the interest rate to curb the inflation when much hasn't been done to improve the economy. Every business man is complaining that he doesn't get what he used to get in his business. Raising the interest rate will mostly discourage people getting loans as not much will be gained after deducting your high interest rate from sales. 3 Likes |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by ayibatari99(m): 7:17am On Jul 30, 2016 |
Mr. Osinbanjo & your Economic team, I beg you, for God sake change the Economic textbook you guys are glued to, since it's not helping matters at all, I'm sure it most be an old edition. 8 Likes 1 Share |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by virginboy1(m): 7:18am On Jul 30, 2016 |
"It should be realised that a nation that cannot feed her citizens cannot claim equal partnership with others whose citizens are well fed in addition to possessing economic strength and technology." They keep fighting one sided corruption at the detriment of the economy. 2 Likes |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by shawn5ng(m): 7:20am On Jul 30, 2016 |
We can't keep on blaming the govt at all time when some ppl are financing book haram, Niger Delta Militant, cattle hernsmen, National Assembly in disarray and lotting the nation. All these are distraction to this govt. Revenue has dropped drastically and the little money available is use to fight all these distractions listed above. No one will ever invest in an unconductive environment. So the ppl should hold their leaders responsible rather than supporting them when they are being caught shortchanging the common wealth of us all. Let's speak out and fight all these things now before it is too late. 1 Like 2 Shares |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by Emeka71(m): 7:21am On Jul 30, 2016 |
2 big criminals in Nigeria are the bank and the telecom. |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by Lataability(m): 7:22am On Jul 30, 2016 |
Today is my birthday and I thank God for the gift of new life,new hopes,great opportunities and above all gift of another year.lord you have been good to me all this years.thanks for the blessings I have received but especially for life itself.Happy birthday to me.Gratias. 5 Likes 1 Share |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by Adesiji77: 7:27am On Jul 30, 2016 |
It always does |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by Ajusshi: 7:29am On Jul 30, 2016 |
H |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by 27naira(m): 7:30am On Jul 30, 2016 |
Truth234: I was impressed when I read your analysis.. just yesterday, Bank of Japan unfolded certain economic stimulus package which includes ETF buyback programmes and increased USD swaps but guess what, analysts say that wasn't enough! They expected more rate cuts into the negative territory and an increase in the Monetary Base. BOJ wanted to curtail the rising value of the Yen which is hurting export. They wanted their money to depreciate! We need to drive foreign capital and ordinarily increasing Base rate should have worked but not any more. Investors want to see stability, they want to know their money is safe! That's why after Brexit, German bonds yield moved into negative territory because people were looking for security and not yield. We want our Government to come up with a policy frame work that works and stop peddling rates. As a matter of fact, government need to cut rates! And probably increase provision for USD swaps and borrow from IMF 2 Likes |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by virginboy1(m): 7:32am On Jul 30, 2016 |
shawn5ng:Sir, but why are they called government, what is the chief responsibility of the government, what did they promised the citizens? They promised and swear to protect life and properties, so they do their job rather than giving vain excuses. 2 Likes 1 Share |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by Kakamorufu(m): 7:32am On Jul 30, 2016 |
e get as e be oooooooooo 2 Likes |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by adewumiopeyemi(m): 7:32am On Jul 30, 2016 |
dollAR don rise again.... ![]() ![]() ![]() ![]() |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by kaen1317: 7:33am On Jul 30, 2016 |
Until Nigerians embrace Nigeria and stop bringing religion and tribalism into play we will ever be backward. You can't blame Jonathan for being president. It was circumstance that brought him. Religion and tribalism now gave birth to bono haram. With all the looting and thievery that characterised the Jonathan era, its only right for the only leader known to be astute and upright to lead us, that is, pmb. Religion and tribe now resurfaced in the name of Niger delta militants. For how long will we continue eating ourselves? The whole world is watching and laughing at our foolishness. Some kind of reconciliation has to take place cos war will take all of us back a 100 years whether Muslim or Christian, southerner or northern. Who wants to be a refugee of war? The way things are going that's where we are headed. God save nigeria 1 Like 1 Share |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by Nobody: 7:35am On Jul 30, 2016 |
Lord have mercy on us. |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by Adesiji77: 7:37am On Jul 30, 2016 |
@Truth234 It always does... I am not an economist but it is apparent that the rate hike by MPC was just a gamble in the face of stagflation. The inflationary trend can only go one way, which is north. 2 Likes |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by Tellemall: 7:42am On Jul 30, 2016 |
shawn5ng: You know what's even more pathetic than your Nigerian economy? People who give excuses for blatant lousiness on behalf of lousy people. Did Niger Delta militancy only turn up in this administration? That is a very lousy excuse , talking about distractions etc. Was there no distraction of B. Haram? Which is worse, people blowing up pipelines or people going around blowing up people? Who should be more distracting? And you think there are distractions only now ? Are the herdsmen a problem, really? You have a president who wants to "crush" and destroy pipeline vandals, but he has a soft spot for Libyan herdsmen who have spent months KILLING, DESTROYING and being a menace but he has even given them chunks of federal land on which to multiply and is so caring for his religious brothers and tribesmen enough to let them go unchecked, yet you think there are distractions? No. Please stop this. You voted in somebody as adept as Mugabe in running down an economy. I'm surprised that somebody who was gotten rid of in a coup is pulling off the exact same moves and people like you think there is some justification for every wrong move he makes. He was removed for a reason before. What makes him suitable now? Did he get new qualifications? 4 Likes 1 Share |
Re: High Interest Rate’ll Worsen Nigerian Banks’ Woes –Fitch Ratings by onatisi(m): 7:44am On Jul 30, 2016 |
27naira:And you honestly think buhari will understand even 10% of what you just wrote ![]() You still don't get the problem Nigeria is having and facing. You have a president that knows nothing at all about economics, to even make the matter worse he is a stubborn arrogant old man that will never take any sensible advice except those given to him by his fellow fulanis 3 Likes 2 Shares |
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