The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Monday said it has retained all the monetary policy parameters unchanged.

Moody's Investors Service ("Moody's") has affirmed Nigeria's B2 long-term issuer ratings and senior unsecured rating and its (P)B2 senior unsecured MTN programme rating and maintained the negative outlook.

Fitch Ratings has downgraded Nigeria's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'B' from 'B+. The Outlook is Negative.

Nigerian banks' credit profiles face severe risks from the oil price slump and operating environment disruption due to the coronavirus pandemic, Fitch Ratings says. Asset quality deterioration linked to high exposures to the oil and gas sector is the biggest threat to ratings.