Fitch Ratings has confirmed Wema Bank PLC’s Long-Term Issuer Default Rating (IDR) of ‘B-‘ and its Viability Rating (VR) of ‘b-‘. Fitch has also confirmed Wema’s National Long-Term Rating as ‘BBB’ (nga) with a stable outlook.

Ahead of inflation data for the month of May, the benchmark yield on Federal Government of Nigeria (FGN) bonds remained unchanged in the secondary market due to thin, pocket trading activities. on naira assets.

The apex bank priced Nigerian Treasury bills’ spot rates lower Thursday at the just-concluded primary market auction held ahead of inflation data. The recent spot rate pricing indicates that the monetary authority is leading efforts to reduce balance-sheet funding costs.

Guaranty Trust Holding Company Plc (GTCO) has filed a preliminary “red herring” prospectus with the Securities and Exchange Commission (SEC) to raise a proposed offering of N500 billion gross proceed.

In the equities market, investors that were trading highs and lows on the Nigerian Exchange (NGX) gained more than N114 billion on Thursday due to bargain hunting in banking, amd industrial names, among others.

NEM Insurance Plc has forecasted that its profit would reach about N9.4 billion in the third quarter of 2024, according to its regulatory filing on the Nigerian Exchange.