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Moody's Investors Service has today downgraded the Government of Nigeria's long-term issuer and senior unsecured debt rating to B2 from B1 and the senior unsecured MTN program rating and the provisional senior unsecured debt rating to (P)B2 from (P)B1. The rating outlook remains stable.
Promoters of the proposed Lagos Commodities and Futures Exchange (LCFE) have launched a private placement to raise N500 million initial capital for the takeoff of the new Exchange.
The N100 billion seven-year debut Sukuk offer by the Debt Management Office (DMO), which closed last week Friday, has been oversubscribed.
Allianz Group announced today a binding agreement to acquire 98 percent of Nigerian insurer Ensure Insurance Plc. from its core shareholder Greenoaks Global Holdings Ltd. (GGH). Ensure Insurance Plc offers life and non-life insurance services and generated 11 million euros in gross premiums written in 2016.
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