Breaking nigerian business news

Here are some breaking Nigerian business news:

1. CBN Introduces New Guidelines for Digital Payments

The Central Bank of Nigeria (CBN) has introduced new guidelines for digital payments in the country. The guidelines aim to promote the adoption of digital payments and reduce the use of cash in transactions. The new guidelines require all financial institutions to implement digital payment systems and provide customers with digital payment options. (Source: Punch)

2. MTN Nigeria to List on NSE

MTN Nigeria, a subsidiary of MTN Group, has announced plans to list on the Nigerian Stock Exchange (NSE). The listing is expected to raise N150 billion (approximately $400 million) for the company. The listing is subject to regulatory approvals and is expected to take place in the next few months. (Source: Vanguard)

3. Dangote Cement to Invest $1.5 Billion in New Plant

Dangote Cement, Nigeria's largest cement producer, has announced plans to invest $1.5 billion in a new cement plant in the country. The plant, which is expected to be completed in 2025, will have a production capacity of 6 million metric tons per annum. (Source: ThisDay)

4. Nigeria's Inflation Rate Rises to 17.1%

Nigeria's inflation rate has risen to 17.1% in June, up from 16.5% in May. The rise in inflation is attributed to the increase in food prices, particularly rice and wheat. The CBN has promised to take measures to address the rising inflation rate. (Source: BusinessDay)

5. Stanbic IBTC to Acquire 49% Stake in FBNQuest Merchant Bank

Stanbic IBTC Holdings, a subsidiary of Standard Bank Group, has announced plans to acquire a 49% stake in FBNQuest Merchant Bank, a subsidiary of FirstBank of Nigeria. The acquisition is subject to regulatory approvals and is expected to be completed in the next few months. (Source: The Nation)

6. Nigeria's GDP Growth Rate Slows to 2.3%

Nigeria's GDP growth rate has slowed to 2.3% in the first quarter of 2022, down from 3.1% in the same period last year. The slowdown is attributed to the decline in the oil sector and the impact of the COVID-19 pandemic on the economy. (Source: NBS)

7. Union Bank to Acquire 100% Stake in Union Bank of Nigeria

Union Bank, a subsidiary of Union Bank of Nigeria, has announced plans to acquire 100% stake in Union Bank of Nigeria. The acquisition is subject to regulatory approvals and is expected to be completed in the next few months. (Source: Leadership)

8. Nigeria's Foreign Reserves Fall to $35.4 Billion

Nigeria's foreign reserves have fallen to $35.4 billion, down from $36.4 billion in May. The decline is attributed to the country's reliance on oil exports and the impact of the COVID-19 pandemic on the economy. (Source: CBN)

9. Access Bank to Acquire 100% Stake in Transnational Bank

Access Bank, a subsidiary of Access Bank of Nigeria, has announced plans to acquire 100% stake in Transnational Bank, a subsidiary of Transnational Corporation of Nigeria. The acquisition is subject to regulatory approvals and is expected to be completed in the next few months. (Source: BusinessDay)

10. Nigeria's Stock Market Index Falls to 43,000

Nigeria's stock market index has fallen to 43,000, down from 45,000 in May. The decline is attributed to the decline in the prices of shares of listed companies and the impact of the COVID-19 pandemic on the economy. (Source: NSE)