The Nigerian Stock Exchange announces on friday the launch of X-Bot, an artificial intelligence (AI)-powered Chatbot that responds directly and automatically to enquiries through Facebook Messenger. X-Bot is designed to provide market participants, especially retail investors, convenient, faster and real-time access to data and information from the Exchange.

The Board of Access Bank Plc (NGSE:ACCESS, GSE:ABG) announces it has signed a Memorandum of Agreement (MoA) with Diamond Bank Plc (NGSE:DIAMONDBNK) regarding a potential merger of the two banks that will create Nigeria and Africa’s largest retail bank by customers. This follows its selection as preferred bidder after a competitive process undertaken by the Board of Diamond Bank.

Fitch Ratings has downgraded Diamond Bank Plc's (NGSE:DIAMONDBNK) Long-Term Issuer Default Rating (IDR) to 'CCC' from 'B-' and Short-Term IDR to 'C' from 'B'. Diamond's National Long-Term Rating has been downgraded to 'B(nga)' from 'BB+(nga)'. A full list of rating actions is at the end of this rating action commentary.

Fitch Ratings has affirmed Access Bank Plc's (ACCESS) Long-Term Issuer Default Rating (IDR) at 'B' with a Stable Outlook. The Viability Rating (VR) is affirmed at 'b'. A full list of rating actions is at the end of this rating action commentary.