Moody’s has affirmed Ecobank Transnational Incorporated’s (ETI) B3/Not Prime long- and short-term issuer ratings; B3 senior unsecured debt rating; b2 notional Baseline Credit Assessment (BCA); and b1 Adjusted BCA.

At the same time, rating analysts at Moody’s said they have changed the outlook on the group’s long-term issuer and senior unsecured debt ratings to stable from negative.

ETI’s subsidiaries operate across 38 countries—including 35 African countries- and total assets of $28.9 billion as of March 2025, details from the rating note highlighted. Moody’s said the decision to change the outlook to stable on the long-term issuer and senior unsecured ratings reflects ETI’s resilient financial performance.

The rating upgrade also takes into consideration higher dividends being upstreamed to ETI, resulting in lower double leverage and reduced refinancing risk.

The rating adjustment also reflects an expectation that the recapitalization process of Ecobank Nigeria Limited will be completed by the end of 2025, with limited impact on the group’s financial fundamentals.

“The stable outlook also captures our expectation that a series of capital-boosting initiatives and actions to cure Ecobank Nigeria’s total capital position will be completed before the end of 2025”, according to the ratings agency.

In May 2025, ETI received shareholder approval to raise $250 million in Additional Tier 1 (AT1) capital and announced the launch of the transaction effective 9 July 2025, of which a portion is expected to be downstreamed to Ecobank Nigeria as AT1 capital during Q3-2025.

Ecobank Nigeria’s plan to raise $200 million in AT1 capital was noted in the rating note. The ratings analysts said they consider

“We also note that Ecobank Nigeria’s recent successful offer to tender $150 million of its February 2026 $300 million notes and consent to remove the capital adequacy ratio covenant from this bond’s terms alleviates risks of an event of default in Nigeria that would trigger cross default at ETI level”.

“Over the past year, ETI has shown resilience in its financial performance, which supports our change in outlook to stable. Liquidity risks are being moderated by the group’s gradually improving profitability during 2024 and Q1-2025.

“This has translated into a 22% increase in dividends upstreamed to ETI during 2024, these being received from 22 dividend-paying subsidiaries compared to just 14 in 2021”.

In turn, albeit high, ETI’s double leverage ratio – which measures the liquidity risk taken on by the holding company, as a result of it borrowing in order to invest in the equity of its subsidiaries – has eased to 168% as of December 2024 from 173% in 2023.

Additionally, the stable outlook reflects reduced liquidity risk at the holding company level with the refinancing of short-term liabilities in 2024 with longer-term funding.

Moody’s said this is underpinned by demonstrated market access, notably through senior unsecured notes issuance of $400 million in October 2024 and a tap increase of $125 million in May 2025, maturing in October 2029.

ETI’s B3 long-term issuer ratings affirmation reflects the affirmation of the group’s b2 notional BCA; the affirmation of the group’s b1 adjusted BCA as captured by a one-notch uplift for affiliate support reflecting Moody’s assessment of a moderate probability that the firm’s major institutional shareholders would extend support to the group.

Moody’s said asset quality for the group has improved over recent years.

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun (3^rd left) and the Minister of State for Finance, Dr. Doris Uzoka-Anite pose for a group photo with the newly appointed MD/CEO Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday (1^st left) and Executive Director (Operations) NDIC, Dr. Kabir Sabo Katata (1^st right) during their inauguration as the new NDIC Management by the Honourable Minister in Abuja.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has inaugurated the new Managing Director/Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday and Executive Director (Operations), Dr. Kabir Sabo Katata at the Ministry of Finance, Abuja.

In his remark during the occasion, the Honourable Minister submitted that the NDIC, as a component of the financial safety-net has a crucial role to play in the nation’s march to economic stability and prosperity.

He therefore charged the Management team to bring their diverse wealth of experience to bear on their new assignment while assuring them of the ministry’s full support in the task ahead.

Responding, Mr. Sunday who spoke on behalf of the Management team, expressed appreciation to His Excellency, President Bola Ahmed Tinubu for their appointment. He assured the Hon.Minister of the readiness of the Management under his leadership to live up to expectations of the President in particular and the nation in general in the discharge of their duties.

The Management was later received to the Corporation’s Head Office with a warm welcome by the workforce. Addressing the workers on behalf the Management team, Sunday promised to work in harmony with the staff to move the Corporation to its next level performance.

He stressed that the Management’s focus would be based on the public policy objectives, functions and mandate devolved on the Corporation by the enabling law that established it.

Thompson Oludare Sunday is a seasoned financial expert with over 30 years of regulatory and supervisory experience. Having cut his teeth with the Central Bank of Nigeria (CBN) in 1989, he went ahead to acquire high-end knowledge in Central Banking, spending 24 unbroken years in banking supervision.

While his vast experience is in the regulation and supervision of licensed institutions, his deep expertise spans corporate governance, risk management and compliance as veritable tool for ensuring the safety and soundness of institutions. He is a highly analytical and cross functional team worker with strong interest in building individual and institutional capacity for transformation and excellence.

Thompson’s skills and experience were horned by several key responsibilities and special assignments he handled for the apex Bank before his retirement as a Director in 2021.

The ED (Operations), Kabir Sabo Katata is a quantitative energy strategist and computational finance expert with strong power trading and risk management experience.

He has over twenty-eight years’ experience in the design and management of technically innovative systems in multiple industries including telecommunications, IT, energy (petroleum & power), finance and government.

He is a specialist in sophisticated financial optimisation, the application of modern statistical techniques and mathematics to energy, deposit insurance and banking sectors.

Dr. Katata joined the service of the Nigeria Deposit Insurance Corporation in 2012 as an Assistant Director in the Research, Policy and International Relations Department and rose to the pinnacle of his career as Director in January 2022, before his new appointment as Executive Director (Operations).

Following the success of its debut season, Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings PLC, announces the return of the InvestBeta Game Show, with registration officially open.

The second season of the InvestBeta show builds on the first edition, aimed at equipping young Nigerians with real-world financial skills in a fun, relatable, and competitive format.

The show’s first season, which aired in 2024, captured the attention of Gen-Z viewers across the country, blending entertainment with investment education in a way that had never been done before. With positive feedback, it proved that young Nigerians are ready to learn how to grow their money, and all they need is the right platform.

The new season reflects the Group’s broader youth-focused mission through Beyond Dreams, its dynamic community created for Nigerians aged 18–30. The community aims to help young people turn their aspirations into reality through secure, timely and smart investment choices.

Since its inception, Beyond Dreams has grown to a network of over 90,000 young members, generated 2,100+ new investment accounts, and continues to position the Group as a trusted partner in the financial futures of Nigeria’s youth.

Busola Jejelowo, Chief Executive, Stanbic IBTC Asset Management noted InvestBeta reflects our deep commitment to financial education.

She said: “We understand that today’s young people want more than just advice but practical, hands-on experience. This is why the InvestBeta game show is here to change how young Nigerians see money and what they can do with it.”

Entries are now open to eligible young Nigerians who want to be part of Season 2. Registration is free via the official link: https://bit.ly/StanbicIBTCInvestBeta. Successful applicants will be selected to compete in a series of challenges designed to test their knowledge, strategy, and creativity around real-life financial scenarios.

And for those who missed the first season, full episodes are available to watch on Stanbic IBTC’s official YouTube channel. From quick financial questions to investment tips, Season 1 offered real lessons with real impact, and Season 2 is gearing up to raise the bar.

To stay in the loop, follow @beyonddreamsng across all social media platforms and be part of the countdown to the second season of Nigeria’s most engaging youth-focused investment competition.

If you are 18 to 26, curious about how money works, and ready to build your future, this is your sign.

Stanbic IBTC Bank has transformed its Affluent Banking segment, rebranding it as Stanbic IBTC Private Banking to deliver unparalleled financial solutions tailored for high-net-worth individuals.

The bank hosted a distinguished media parley and prize presentation event in Lagos to announce this milestone and celebrate the inaugural Save and Enjoy Promo, honouring loyal clients with exclusive rewards that reflect the prestige of its revitalised private banking services.

Attended by Bunmi Dayo-Olagunju, Deputy Chief Executive, Stanbic IBTC Bank, the event emphasised Stanbic IBTC’s commitment to redefining legacy with elegance and purpose.

The Save and Enjoy Promo draw, held under the supervision of the Advertising Regulatory Council of Nigeria (ARCON), sparked excitement among Stanbic IBTC Private Banking clients.

Four winners received open business class tickets to the UK, USA, or Canada, offering the freedom to travel in unmatched style. Five others were awarded a one-year Priority Pass, granting access to over 900 airport lounges worldwide.

At the same time, 32 clients received luxury vintage travel boxes, a refined symbol of the exclusivity tied to the bank’s private banking experience. Presented at the event, these rewards honour the confidence that clients place in Stanbic IBTC Private Bank to advance their financial goals.

The rebranded Private Bank offers enhanced investment returns, streamlined digital loans, exclusive benefits through the Platinum Connection Hub, and personalised support, setting a new benchmark for affluent banking in Nigeria.

Bunmi Dayo-Olagunju, Deputy Chief Executive, Stanbic IBTC Bank, shared her perspective: “Stanbic IBTC Private Bank is devoted to crafting financial solutions that empower our clients to create and preserve enduring legacies with elegance and precision.”

Layo Ilori-Olaogun, Head Private Banking, shared her vision at the parley: “Stanbic IBTC Private Bank is dedicated to empowering our clients to create lasting legacies. With dedicated relationship managers and innovative digital platforms, we deliver seamless, bespoke services that align with their ambitions.”

For the winners, the prizes represent exceptional privileges that elevate their lifestyle. One recipient, holding their business class ticket.

“This reward enhances my global travels, and it is remarkable to feel so valued by Stanbic IBTC Private Bank. They truly understand our aspirations.” The launch of Stanbic IBTC Private Bank, paired with the Save and Enjoy Promo, highlights the bank’s dedication to rewarding loyalty while fostering wealth creation and preservation.

Stanbic IBTC invites its affluent clients to experience this reimagined private banking journey, designed to transform aspirations into enduring legacies.

First Bank of Nigeria has joined forces with Mighty Media Plus Network Limited for the maiden edition of the QEDNG Creative Powerhouse Summit.

Also supporting the event are Nigeria LNG (NLNG) and Shell Nigeria, two major players in the country’s energy and development sectors.

Chief Executive Officer of Mighty Media Plus Network Limited, Mr. Olumide Iyanda, announced the partnerships in a statement.

Iyanda described FirstBank’s involvement as a strong statement of the bank’s belief in the power of Nigeria’s creative sector.

“FirstBank’s support is a reaffirmation of its long-standing commitment to promoting the creative economy,” he said. “Through First@arts, the bank has become a reliable partner to talents, institutions, and organisations working to grow Nigeria’s cultural assets.”

First@arts is FirstBank’s platform for supporting the arts. It provides financing, advisory services, and exposure for creatives across the value chain. The bank has backed major cultural events and partnered with institutions such as British Council, Duke of Shomolu Productions, Live Theatre Lagos, Freedom Park and Terra Kulture.

Among the projects FirstBank has supported are The Headies Awards, Lagos International Theatre Festival, The Oxymoron of Kenny Blaq, Kurunmi, Eni Ogun, and Oke Langbodo.

Iyanda also praised NLNG for its role in promoting excellence in literature and science through The Nigeria Prize for Literature, The Nigeria Prize for Science, and The Nigeria Prize for Literary Criticism.

“NLNG has shown leadership by rewarding creativity and innovation in ways that impact both the literary and scientific communities,” he said.

The prizes, worth up to USD100,000, are among the most prestigious on the continent. They celebrate Nigerian authors, critics, and scientists whose work makes a real difference.

Shell’s support for the summit reflects its ongoing commitment to education and social development. The company focuses on sustainable, community-driven educational projects, ranging from scholarships to infrastructure development and ICT donations.

“Shell’s belief in education as a foundation for long-term progress aligns with our vision for the summit,” Iyanda added.

He further noted that more sponsors will be unveiled in the coming weeks.

The QEDNG Creative Powerhouse Summit, themed “Financing as Catalyst for a Thriving Creative Economy,” will take place on Tuesday, August 12, 2025 at 10:00 a.m. The venue is Radisson Blu Hotel, Isaac John Street, Ikeja GRA, Lagos.

The summit will bring together creatives, investors, policymakers, and business leaders to explore solutions to the funding challenges facing Nigeria’s creative industries.

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, is pleased to announce the successful signing of a 3-year, CNY800 million term loan agreement with China Development Bank (CDB).

This landmark facility, executed under the strategic collaboration framework between Standard Bank Group (SBG) and CDB, marks a significant milestone in deepening financial cooperation between Africa and China.

The facility underscores Stanbic IBTC Bank’s direct access to Chinese Renminbi (CNY) liquidity from the Chinese market, enabling the bank to provide enhanced financing solutions to Nigerian corporates and institutions engaged in Africa-China trade and investment flows.

It also reinforces Standard Bank Group’s long-standing, trusted partnership with CDB, anchored on a shared vision for driving sustainable economic growth across the continent.

Commenting on the agreement, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, said:

“We are delighted to announce this landmark agreement with China Development Bank, which reflects the strength of our strategic partnership and our collective commitment to Africa’s economic development. This facility provides us with direct access to much-needed Renminbi liquidity, enabling us to better serve our clients involved in Africa-China trade and investment. It is a significant step in advancing our Africa-China strategy, which is focused on unlocking growth opportunities, promoting cross-border trade, and driving sustainable development for Nigerian businesses.”

The collaboration between Stanbic IBTC Bank and China Development Bank is expected to play a vital role in supporting Nigerian businesses, facilitating trade transactions, and encouraging foreign direct investment.

It also represents a significant step in Stanbic IBTC’s broader Africa-China strategy, which seeks to position the bank as the partner of choice for businesses seeking to participate in the growing economic corridor between Africa and China.

Stanbic IBTC Bank remains committed to providing innovative financial solutions that support economic development and create long-term value for its clients, stakeholders, and the wider Nigerian economy.

About Stanbic IBTC

Stanbic IBTC Bank is a subsidiary of Stanbic IBTC Holdings- a member of Standard Bank Group, Africa’s largest banking group ranked by assets with a legacy spanning over 162 years. As a leading end-to-end financial solutions provider in Nigeria, Stanbic IBTC offers a wide range of products and services which include, specialised finance, trade finance, stockbroking, trustee services, global markets, custodial services, foreign exchange, asset and pension management, insurance brokerage, life insurance, lending, savings, and investment products.

The recent establishment of its fintech subsidiary, Zest Payments, further underscores its commitment to provide innovative financial solutions. Stanbic IBTC plays a pivotal role in driving Nigeria’s growth, leveraging deep local insights and international expertise enhanced by being a member of Standard Bank Group.