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ASSETS & FINANCIALS

Assets and Financial is MMS Plus featured news items on the capital and money market. It takes you into the financial and stock world, with company performance measurement

Nigeria’s sluggish economy in web of subsidy conundrum

Nigeria’s sluggish economy in web of subsidy conundrum

The nation’s economy, no doubt, has become a classical case of abused entity, literally going through the pains of maladministration, mismanagement of its resources, secret and underhand dealings, but mostly plundered and exploited. Unfortunately, it is still hostage to the ...

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Nigerian mortgage, property sector set to tap into diaspora market

Nigerian mortgage, property sector set to tap into diaspora market

Key stakeholders in the real estate and housing finance sector of the Nigerian economy are set to hold a two-day conference/exhibition in London. Tagged “Home Ownership and Property Investment in Nigeria Made Easy” for Nigerians in the United Kingdom and ...

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Government mindful of borrowings, nation safe, says minister

Government mindful of borrowings, nation safe, says minister

• Customs generated N311 billion in Q1 2019 The Minister of Finance, Mrs. Zainab Ahmed, has said the Federal Government is mindful of the nation’s rising debt burden which eats up about 25 per cent of its yearly earnings, adding ...

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Bulls sustain market hold as index rises 0.4%

Bulls sustain market hold as index rises 0.4%

The bulls strengthened their hold on the equity sector of the Nigerian Stock Exchange (NSE), as more bluechip stocks appreciated in price, causing the All-share index to rise further by 0.4 per cent.Yesterday, the NSE All-Share Index (ASI) closed above ...

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NLC cautious as Buhari okays N30,000 minimum wage bill

NLC cautious as Buhari okays N30,000 minimum wage bill

• Why FG might be unable to pay, by financial experts The Nigeria Labour Congress (NLC) reacted cautiously yesterday to news that President Muhammadu Buhari has assented to the proposed N30,000 National Minimum Wage Bill.The movement needs concrete proof that ...

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Professionals call for due process, fault ‘piecemeal’ tax reforms

Professionals call for due process, fault ‘piecemeal’ tax reforms

The controversies dogging the nations tax reforms, now with Value Added Tax (VAT) regime, may not achieve anything positive unless a holistic approach is taken and urgently, tax professionals have said. The top tax administrators, at the sensitisation seminar on ...

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Wema Bank targets N1 trillion capital base

Wema Bank targets N1 trillion capital base

.Mulls M&A, expansion to other retail segments Buoyed by its 2018 financials and performance in which it prescribed the payment of 3kobo dividend per share for the first time in 15 years, the management of Wema Bank Plc has said ...

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Senate begins move to override Buhari on budget timeline bill

Senate begins move to override Buhari on budget timeline bill

Senate yesterday began the process of overriding President Muhammadu Buhari’s veto on the budget timeline bill. It arrived at the decision after adopting the report of a technical committee it set up to study bills rejected by the president. The ...

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Chams, Dangote Flourmills lead in stock market’s N94 billion gain

Chams, Dangote Flourmills lead in stock market’s N94 billion gain

The equities market reversed previous losses to close in an upbeat at the end of yesterday’s transactions, following price gains by most bluechip companies, especially Chams and Dangote Fourmills, causing market capitalisation to appreciate marginally by N94 billion. At the ...

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ABCON calls for radical implementation of power sector reforms

ABCON calls for radical implementation of power sector reforms

The Association of Bureaux De Change Operators of Nigeria (ABCON) has called for radical implementation of the power sector reform programme to ensure access to stable electricity supply for households and businesses. The association also urged its members to apply ...

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FG kicks off process to privatise Bank of Agriculture

FG kicks off process to privatise Bank of Agriculture

The Federal Government yesterday kicked off a process to privatise the equity of Bank of Agriculture (BoA) with government agencies owning 40 per cent of the equity share of the bank and the private sector, farmers owning 60 per cent ...

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Namibia deepens ties with Nigeria, opens visa processing desk in Lagos

Namibia deepens ties with Nigeria, opens visa processing desk in Lagos

The Republic of Namibia yesterday deepened bilateral pact with Nigeria with the opening of Namibian Visa Processing desk in Lagos. The desk, in partnership with Air Namibia, is to facilitate seamless travel processing between West and Southern Africa, while promoting ...

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ERGP, a paradigm shift in economic management

ERGP, a paradigm shift in economic management

Economic experts have said that despite the good intension of the Federal Government’s Economic Recovery Growth Plan (ERGP), poor infrastructure, the mono nature of the economy, and unemployment pose serious challenges to its success.They are of the opinion that the ...

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Mutual fund segment generates N65 billion profit in Q1

Mutual fund segment generates N65 billion profit in Q1

Mutual funds asset class has generated 10.44 per cent or N64.892 billion profit in the first quarter of 2019, from N621.593 billion recorded as at December 28, 2018 to N686.485 billion, a data released by the Security and Exchange Commission ...

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Operators seek assets securitisation to boost capital formation

Operators seek assets securitisation to boost capital formation

Capital market operators have called for securitisation of assets, and establishment of a mortgage-backed securities market, to facilitate capital formation, and tackle rising housing deficit in Nigeria. A mortgage-backed security is a type of instrument, which is secured by a ...

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Lagos, Ogun plan joint development commission

Lagos, Ogun plan joint development commission

Ogun State governor-elect, Dapo Abiodun, has hinted that his administration and that of his counterpart in Lagos State, Babajide Sanwo-Olu, have resolved to establish a Joint Development Commission to, among others, work towards boosting the Internally Generated Revenue (IGR) of ...

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Small Arms Commission Can Generate N6tn Annually – IMAN

The Director-General, National Task Force and President of Importers Association of Nigeria, Mr. Emmanuel Okereke, has said that the National Commission for Prohibited Imported Items, Small Arms and Light Weapons and other Related Offences, when established by law, will generate ...

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Nigerian Breweries To Raise N15bn Through Commercial Papers

Nigerian Breweries To Raise N15bn Through Commercial Papers

Nigerian Breweries Plc is seeking to raise up to N15bn in the first and second series of its N100bn commercial paper programme to support its short-term funding requirements. The company is offering 11.59 per cent and 14.43 per cent yield ...

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Lagos Water Corporation To Increase Daily Production Capacity

Lagos Water Corporation has revealed plans to increase its water production capacity to 492 million gallons per day by the year 2023 to close the water demand gap significantly. The Managing Director, LWC, Mr. Muminu Badmus, while speaking at the ...

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PTAD Pays Pensioners N102.8bn In 15 Months

PTAD Pays Pensioners N102.8bn In 15 Months

Between January 2018 and March 2019, a total of N102.82bn was paid by the Federal Government through the Pension Transitional Arrangement Department to pensioners in the public sector. The Executive Secretary, PTAD, Sharon Ikeazor, disclosed this in a speech delivered ...

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