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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

Traders’ union writes ECOWAS on single currency adoption

Traders’ union writes ECOWAS on single currency adoption

The National Association of Nigerian Traders has written to the ECOWAS Heads of State and Government on the adoption of the single currency programme for the subregion. The association, in a letter signed by its President, Ken Ukaoha, and made ...

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African countries lost over $2bn to Internet shutdowns –Report

African countries lost over $2bn to Internet shutdowns –Report

Twelve African economies lost out on over $2.16bn in economic activity last year due to Internet blackouts and social media shutdowns, according to a new report. Sub-Saharan Africa had 7,800 hours of shutdowns, while the Middle East and North Africa ...

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Gains in 22 stocks push market index by N48 billion

Gains in 22 stocks push market index by N48 billion

Transactions on the Nigerian Stock Exchange (NSE), reopened upbeat yesterday, occasioned by gains in 22 stocks, causing market capitalisation to appreciate by N48 billion. At the close of trading, Monday, the All Share Index (ASI) gained 92.04 absolute points, representing ...

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Nigeria’s debt now N26.22tn, says DMO

Nigeria’s debt now N26.22tn, says DMO

The Federal Government and the 36 states as well as the Federal Capital Territory owed a total N26.22tn as of September 30, 2019, the Debt Management Office disclosed on Friday. The amount indicated that the total public debt rose by ...

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Implementation of 7.5% VAT begins February 1 — Minister

Implementation of 7.5% VAT begins February 1 — Minister

The Federal Government will from February 1 begin the implementation of 7.5 per cent Value Added Tax espoused by the finance law. The law, according to the government, will take effect after all the necessary administrative procedures must have been ...

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Market indices surge by nine per cent in five sessions

Market indices surge by nine per cent in five sessions

The nation’s equities market, last week, recorded the largest weekly returns in two-years to become the world’s best performing stock market for the week. Specifically, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) and market capitalisation appreciated by 9.07 per ...

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MTN share price rises after revoked tax case

MTN share price rises after revoked tax case

The share price of MTN increased by 5.3 per cent to 83.67 rand on Friday following the announcement of the revocation of its $2bn tax case in Nigeria. The increase in the share price pushed the company’s market value to ...

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Banks’ Deposits With CBN Hit N3.17tn In Nine Months

Banks’ Deposits With CBN Hit N3.17tn In Nine Months

The Central Bank of Nigeria has recorded N3.17tn deposits from 11 commercial banks in nine months. Data obtained from the financial statements of the commercial banks listed on the Nigerian Stock Exchange showed that the deposits were made between January ...

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Obaseki’s Agripreneur Scheme Excites Poultry Farmers

Obaseki’s Agripreneur Scheme Excites Poultry Farmers

Poultry farmers in Edo State have commended the Governor Godwin Obaseki-led administration and the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending, on the success of the pilot phase of the state’s poultry production scheme. According to a statement by ...

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NCC, Infracos To Raise N265bn For Broadband Infrastructure

NCC, Infracos To Raise N265bn For Broadband Infrastructure

The Nigerian Communications Commission and a consortium of infrastructural companies say they will raise N265bn for the development of broadband infrastructures across the country in the next four years. Executive Vice Chairman of the NCC, Prof Umar Danbatta, who said ...

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Minimum Wage: TUC Gives States January 31 Ultimatum

Minimum Wage: TUC Gives States January 31 Ultimatum

The Trade Union Congress has given state governments that are yet to implement the N30, 000 new minimum wage up until January 31 to comply or risk industrial action from workers. The union gave the ultimatum in a communiqué issued ...

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Market indices soar higher with N1.377 trillion on BUA listing, others

Market indices soar higher with N1.377 trillion on BUA listing, others

Market capitalisation of the Nigerian Stock Exchange (NSE), soared significantly by N1.377trillion, as the total equities capitalisation rose to N15.164 trillion, following yesterday’s listing of BUA Cement Plc’s on the floor of the Exchange. The upturn was also impacted by ...

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World Bank puts Nigeria’s growth at 2.1 per cent in 2020

World Bank puts Nigeria’s growth at 2.1 per cent in 2020

Warns of policy uncertainty, confidence challenges The World Bank Group, yesterday, raised Nigeria’s growth expectations in 2020 to 2.1 per cent, describing it as an “edge up”, a development that confirms the country’s continued stay in sluggish economic path for ...

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NAICOM to drive full digitisation of operations in 2020

NAICOM to drive full digitisation of operations in 2020

•Plans to introduce agric index insurance The National Insurance Commission (NAICOM) has said it is pursuing full digitisation of operations in year 2020 to improve service to the public, adding that it is in line with global standards and practices.NAICOM’s ...

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States’ RoW demands may cripple FG’s digital economy plans

•Telcos should not be seen as IGR sources, says ALTON The demand by some states to charge far above the agreed Right of Way (RoW) levies is now seen as a move that will cripple Federal Government’s broadband plan and ...

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Company tax: FG to exempt firms earning below N25m

Company tax: FG to exempt firms earning below N25m

The Finance Bill 2019, when signed into law, will ensure that small businesses with turnover less than N25m will be exempted from Companies Income Tax, the Federal Government has said. Currently, all companies are expected to pay to the Federal ...

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CBN releases framework to address payment system risks

CBN releases framework to address payment system risks

The Central Bank of Nigeria on Monday released the Nigerian Payments System Risk and Information Security Management Framework to guide the management of risks associated with the payment system in Nigeria. The framework which had already been approved by the ...

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UBA Africa appoints new CEO, employs 4,000

UBA Africa appoints new CEO, employs 4,000

United Bank for Africa Plc on Monday appointed Oliver Alawuba as the chief executive officer of UBA Africa to oversee the bank’s  20 African country operations, except Nigeria. A statement said he succeeded Victor Osadolor, who retired from the group’s ...

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We saved N700bn through TSA, whistle-blowers, reforms – FG

Implementation of 7.5% VAT begins February 1 — Minister

Through the implementation of various public sector financial management reforms, over N700bn had been saved by the Federal Government. In addition to the N700bn savings, about N300bn had been recovered by the anti-graft agencies of government through the collaborative efforts ...

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Indices rebound by 2.09% over renewed stocks’ appetite

Indices rebound by 2.09% over renewed stocks’ appetite

Analysts predict mixed performance for equities this year Buying interest in the shares of some bluechip stocks drove the local bourse northward for four consecutive days last week, sustaining the positive trend since the beginning of the week. Consequently, the ...

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