Finance Minister ‘surprised’ as Moody’s downgrades nine Nigerian banks

Nigeria’s Minister of Finance, Zainab Ahmed, on Thursday disagreed with ratings agency Moody’s downgrade of Nigeria’s sovereign rating to Caa1 from B3.

The minister, who expressed ‘surprise’ at the development, noted that the government has started taking actions to resolve issues raised by Moody’s.

“Moody’s downgrade came as a surprise to us because we had presented all the work that we have been doing to stabilise the economy,” Mrs Ahmed said in Abuja.

PremiumTimes : Read More