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Nigerian stocks fell 2.6 percent yesterday after global index provider, MSCI, said it would leave the country in its former index until at least November, when it will assess the investor access to the market.

MSCI said Nigeria would remain a frontier mrket, with the possibility of being downgraded to “stand alone” status, leading shares to retreat. According to Reuters, the index of Nigeria’s top 10 banks, its relatively liquid sector, shed 2.6 percent partly on the MSCI news, and after Etisalat Nigeria failed to agree a debt renegotiation deal with lenders.

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Nigerian stocks fell 2.6 percent yesterday after global index provider, MSCI, said it would leave the country in its former index until at least November, when it will assess the investor access to the market.

MSCI said Nigeria would remain a frontier mrket, with the possibility of being downgraded to “stand alone” status, leading shares to retreat. According to Reuters, the index of Nigeria’s top 10 banks, its relatively liquid sector, shed 2.6 percent partly on the MSCI news, and after Etisalat Nigeria failed to agree a debt renegotiation deal with lenders.

Read more

Nigerian stocks fell 2.6 percent yesterday after global index provider, MSCI, said it would leave the country in its former index until at least November, when it will assess the investor access to the market.

MSCI said Nigeria would remain a frontier mrket, with the possibility of being downgraded to “stand alone” status, leading shares to retreat. According to Reuters, the index of Nigeria’s top 10 banks, its relatively liquid sector, shed 2.6 percent partly on the MSCI news, and after Etisalat Nigeria failed to agree a debt renegotiation deal with lenders.

Read more

Nigerian stocks fell 2.6 percent yesterday after global index provider, MSCI, said it would leave the country in its former index until at least November, when it will assess the investor access to the market.

MSCI said Nigeria would remain a frontier mrket, with the possibility of being downgraded to “stand alone” status, leading shares to retreat. According to Reuters, the index of Nigeria’s top 10 banks, its relatively liquid sector, shed 2.6 percent partly on the MSCI news, and after Etisalat Nigeria failed to agree a debt renegotiation deal with lenders.

Read more

Nigerian stocks fell 2.6 percent yesterday after global index provider, MSCI, said it would leave the country in its former index until at least November, when it will assess the investor access to the market.

MSCI said Nigeria would remain a frontier mrket, with the possibility of being downgraded to “stand alone” status, leading shares to retreat. According to Reuters, the index of Nigeria’s top 10 banks, its relatively liquid sector, shed 2.6 percent partly on the MSCI news, and after Etisalat Nigeria failed to agree a debt renegotiation deal with lenders.

Read more

Just like the Nigerian Communications Commission (NCC), the leadership of the Central Bank of Nigeria (CBN) has informed the 13 banks that extended a $1.2 billion facility to Etisalat Nigeria that it would resist the move by the lenders to take over the network operator without its express approval.

This was the fallout of a meeting held between CBN officials and CEOs of the 13 banks yesterday in Abuja. Citing the Nigerian Communications Act (NCA), the NCC on Tuesday had stepped into the crisis that has enveloped the country’s fourth largest network operator, reminding the banks that they could not take over Etisalat’s operating license without its approval.

Read more

Just like the Nigerian Communications Commission (NCC), the leadership of the Central Bank of Nigeria (CBN) has informed the 13 banks that extended a $1.2 billion facility to Etisalat Nigeria that it would resist the move by the lenders to take over the network operator without its express approval.

This was the fallout of a meeting held between CBN officials and CEOs of the 13 banks yesterday in Abuja. Citing the Nigerian Communications Act (NCA), the NCC on Tuesday had stepped into the crisis that has enveloped the country’s fourth largest network operator, reminding the banks that they could not take over Etisalat’s operating license without its approval.

Read more

Just like the Nigerian Communications Commission (NCC), the leadership of the Central Bank of Nigeria (CBN) has informed the 13 banks that extended a $1.2 billion facility to Etisalat Nigeria that it would resist the move by the lenders to take over the network operator without its express approval.

This was the fallout of a meeting held between CBN officials and CEOs of the 13 banks yesterday in Abuja. Citing the Nigerian Communications Act (NCA), the NCC on Tuesday had stepped into the crisis that has enveloped the country’s fourth largest network operator, reminding the banks that they could not take over Etisalat’s operating license without its approval.

Read more

Just like the Nigerian Communications Commission (NCC), the leadership of the Central Bank of Nigeria (CBN) has informed the 13 banks that extended a $1.2 billion facility to Etisalat Nigeria that it would resist the move by the lenders to take over the network operator without its express approval.

This was the fallout of a meeting held between CBN officials and CEOs of the 13 banks yesterday in Abuja. Citing the Nigerian Communications Act (NCA), the NCC on Tuesday had stepped into the crisis that has enveloped the country’s fourth largest network operator, reminding the banks that they could not take over Etisalat’s operating license without its approval.

Read more

Just like the Nigerian Communications Commission (NCC), the leadership of the Central Bank of Nigeria (CBN) has informed the 13 banks that extended a $1.2 billion facility to Etisalat Nigeria that it would resist the move by the lenders to take over the network operator without its express approval.

This was the fallout of a meeting held between CBN officials and CEOs of the 13 banks yesterday in Abuja. Citing the Nigerian Communications Act (NCA), the NCC on Tuesday had stepped into the crisis that has enveloped the country’s fourth largest network operator, reminding the banks that they could not take over Etisalat’s operating license without its approval.

Read more

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