Latest financial news in nigeria

Here are some of the latest financial news in Nigeria:

Economy

  1. Nigeria's economy grows by 2.27% in Q1 2023: The National Bureau of Statistics (NBS) has announced that Nigeria's economy grew by 2.27% in the first quarter of 2023, driven by growth in the services sector. (Source: NBS)
  2. Inflation rate drops to 17.1% in May 2023: The NBS has reported that Nigeria's inflation rate dropped to 17.1% in May 2023, from 17.3% in April 2023. (Source: NBS)
  3. Nigeria's foreign reserves hit $38.4 billion: The Central Bank of Nigeria (CBN) has announced that Nigeria's foreign reserves have hit $38.4 billion, a significant increase from the $34.3 billion recorded in May 2022. (Source: CBN)

Stock Market

  1. Nigerian stock market gains 1.1% in May 2023: The Nigerian Stock Exchange (NSE) has reported that the All-Share Index (ASI) gained 1.1% in May 2023, driven by gains in the banking and consumer goods sectors. (Source: NSE)
  2. Dangote Cement leads gainers in May 2023: Dangote Cement, the largest cement producer in West Africa, led the gainers in May 2023, with a gain of 14.1%. (Source: NSE)
  3. FBN Holdings, Zenith Bank lead losers in May 2023: FBN Holdings and Zenith Bank, two of Nigeria's largest banks, led the losers in May 2023, with losses of 10.1% and 8.1%, respectively. (Source: NSE)

Banking and Finance

  1. CBN introduces new guidelines for digital banking: The CBN has introduced new guidelines for digital banking in Nigeria, aimed at promoting financial inclusion and reducing the risk of cyber attacks. (Source: CBN)
  2. GTBank launches new mobile banking app: Guaranty Trust Bank (GTBank) has launched a new mobile banking app, which allows customers to perform various banking transactions, including bill payments and fund transfers. (Source: GTBank)
  3. Access Bank acquires majority stake in African Banking Corporation: Access Bank has acquired a majority stake in African Banking Corporation, a pan-African bank with operations in several countries. (Source: Access Bank)

Oil and Gas

  1. Nigeria's oil production drops to 1.4 million barrels per day: Nigeria's oil production has dropped to 1.4 million barrels per day, due to pipeline vandalism and other infrastructure challenges. (Source: NNPC)
  2. NNPC signs agreement with Shell to develop oil fields: The Nigerian National Petroleum Corporation (NNPC) has signed an agreement with Royal Dutch Shell to develop several oil fields in Nigeria. (Source: NNPC)
  3. Nigeria's gas production drops to 7.4 billion cubic feet per day: Nigeria's gas production has dropped to 7.4 billion cubic feet per day, due to infrastructure challenges and vandalism. (Source: NNPC)

These are just a few of the latest financial news in Nigeria.