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The ECOWAS Bank for Investment and Development (EBID) has secured a major credit rating upgrade from Moody’s Ratings, with its long term issuer rating raised to B1 from B2, reinforcing the Bank’s steady progress towards investment grade status.
Investors in the Nigerian stock market have lost approximately N4.5 trillion in six consecutive trading sessions. The prolonged bearish run saw investors lose N3.8 trillion in four trading sessions last week, followed by additional losses of N106 billion and N544 billion on Monday and Tuesday this week, respectively.
Burundi has been an East African Payment System member since 2020 without ever going live. Its central bank now targets December 2026 to finish the cross-border link.
The Federation Account Allocation Committee (FAAC) on Tuesday shared N2.550 trillion as revenue generated in June to the Federal Government, states and local government areas of the country. This is N250 billion higher than the amount shared for the previous month, representing an increase of 10.9 per cent.
