Ratings agency Moody’s said on Thursday it has placed First Bank of Nigeria on review for downgrade after the central bank sacked the board of the lender and its parent and appointed new directors.
“The review will focus primarily on an assessment of evolving governance considerations at First Bank, specifically corporate governance developments,” Moody’s said in a statement.
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The Nigerian equities market sustained its upward momentum last week, with investors recording gains of N1.359 trillion as strong institutional...
