Home / ASSETS & FINANCIALS

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

Uncertainty, apathy sustain selloff as index falls further by 1.27%

Uncertainty, apathy sustain selloff as index falls further by 1.27%

Analysts optimistic, urge investors to position for capital appreciation The All-Share Index (ASI) and market capitalisation slumped by 1.27 per cent over sustained selloffs pressure and low turnover at the close of trading last week, following negative sentiments on medium and high ...

Read More »

Buhari directs CBN to blacklist firms still importing palm oil

Buhari directs CBN to blacklist firms still importing palm oil

President Muhammadu Buhari has directed the Central Bank of Nigeria to blacklist any firm, its owner and top management caught smuggling or dumping palm oil into the country. The presidential directive was disclosed by CBN Governor, Mr Godwin Emefiele, at ...

Read More »

AfDB restates warning on rising debts among African nations

AfDB restates warning on rising debts among African nations

Reinvests $103m earnings in business development Despite the low international debt threshold of many African countries, Nigeria inclusive, a message from the African Development Bank (AfDB) the weekend was that of caution and pursuit of growth with escalated obligations. Nigeria ...

Read More »

‘How Nigeria, others generated $67b insurance premium’

‘How Nigeria, others generated $67b insurance premium’

Experts link sector’s low penetration to operator inefficiency   Nigeria and other African countries were able to generate $676.7 billion insurance premium income, going by the records of the 46th Africa Insurance Barometer, a research report that covers African insurance market. ...

Read More »

Commission seeks compensation for services disruption from Multichoice

Commission seeks compensation for services disruption from Multichoice

The Federal Competition and Consumer Protection Commission (FCCPC), formerly known as Consumer Protection Council, has urged Multichoice, owners of digital satellite television (DStv), to begin moves that will ensure subscribers are compensated for disruption of services resulting from failed, faulty, ...

Read More »

Bears retain market hold amid depreciation in bellwether stocks

Bears retain market hold amid depreciation in bellwether stocks

The Nigerian Stock Exchange (NSE), resumed trading on a bearish note after the one-day holiday to mark Democracy Day celebration with 0.23 per cent decline on losses in 15 stocks. Specifically, at the close of trading yesterday, the All-Share Index ...

Read More »

Oando minority shareholders demand reimbursement of AGM losses

Oando minority shareholders demand reimbursement of AGM losses

Minority shareholders of Oando Plc, yesterday, condemned the recent cancellation of the company’s 2018 Annual General Meeting (AGM) by the Securities and Exchange Commission (SEC), urging the federal government to mandate the Commission to reimburse them for losses incurred in ...

Read More »

FG decries N4bn spent annually on importation of diaper, others

The Federal Government has expressed concern over the N4billion plus spent yearly on the importation of diaper, sanitary pads, wipes and napkins into the country, describing it as unacceptable. The Ministry of Industry, Trade and Investment, at a validation meeting, ...

Read More »

AfDB, partners launch new fund to boost digital financial inclusion

AfDB, partners launch new fund to boost digital financial inclusion

The African Development Bank (AfDB), and its partners, yesterday, launched the Africa Digital Financial Inclusion Facility (ADFI), designed to aid safety and expansion of digital financial transactions in the continent. The Fund, launched at the Bank’s Annual Meetings in Malabo, ...

Read More »

CBN signals end to official rate regime for naira

CBN signals end to official rate regime for naira

The Central Bank of Nigeria (CBN) may soon allow the naira to freely find its value, with a possible depreciation on the official rate, usually pegged at about N305/$, an update on its website has indicated. The development is signaling ...

Read More »

LSE hosts Ecobank after $500m Eurobond issuance

LSE hosts Ecobank after $500m Eurobond issuance

Following the successful $500 million Eurobond issuance, Ecobank Transnational Incorporated (ETI) was hosted by the London Stock Exchange (LSE) to a market opening ceremony to celebrate feat. The bond was oversubscribed with strong demand from international investors in the United ...

Read More »

Outsource Global extends BPO service to Japan

Outsource Global extends BPO service to Japan

The Africa Business Process Outsourcing industry got another boost as one of the players in that space Outsource Global, expanded its services to Japan. Speaking at the just concluded Japan IT Week, the founder and Chief Executive Officer of Outsource ...

Read More »

Fidelity supports traders with soft loans, security

Fidelity supports traders with soft loans, security

Fidelity Bank Plc has provided soft loans and security for traders in the Trade Fair complex, Lagos, as part of its Corporate Social Responsibility (CSR). This, according to the bank, is in line with the identified needs of marketers in ...

Read More »

SEC suspends Oando Plc’s AGM

SEC suspends Oando Plc’s AGM

• Shareholders okay commission’s directive • Row over resignation of two non-executive directors Following the ex-parte order of the Federal High Court, Ikoyi Lagos in suit no: FHC/L/CS/910/19, in Mr. Jubril Adewale Tinubu and Anor V Securities and Exchange Commission  ...

Read More »

How absence of SEC’s governing board undermines investors’ confidence

How absence of SEC’s governing board undermines investors’ confidence

The Investment & Securities Act (ISA 2007) specifically provides for the establishment of a board for the Securities & Exchange Commission (SEC) and outlines its functions. The board is the organ of the commission responsible for policy formulation and decision-making ...

Read More »

High Transaction Cost Impeding Investment -ASHON

The Association of Securities Dealing Houses of Nigeria has said high transaction cost in the nation’s capital market remains a major impediment to investment as it is relatively higher than its international peers. ASHON said there should be a downward ...

Read More »

‘Non-passage of CNI bill may hinder 70% broadband penetration target’

‘Non-passage of CNI bill may hinder 70% broadband penetration target’

As operators look to achieving 70 per cent broadband penetration in another five years, failure of the National Assembly (NASS), to pass the Critical National Infrastructure (CNI) Bill, might become a major hindrance. Having crossed the 30 per cent target ...

Read More »

‘Crisis of confidence in capital market will dampen investors’ appetite for stocks’

Bears retain market hold amid depreciation in bellwether stocks

The increasing crisis of confidence in Nigeria’s stock market will further erode investors’ confidence, and slow down buying interests, analyst at Investdata Consulting Limited, has said. Specifically, the Chief Research Officer, Investdata, Ambrose Omodion, said there is already a panicky mode, ...

Read More »

W’Bank Cuts Nigeria’s GDP Growth Forecast to 2.1% for 2019

W’Bank Cuts Nigeria’s GDP Growth Forecast to 2.1% for 2019

The World Bank Group has predicted real Gross Domestic Product (GDP) growth rate of 2.1 per cent for Nigeria for 2019, slightly lower than the 2.2 per cent it had predicted for the country same year in a report early ...

Read More »

Nigeria’s e-payment deals lose over N5 trillion in Q1

Nigeria’s e-payment deals lose over N5 trillion in Q1

•Banks still exposed to oil, gas sector with N3.5tr The first quarter (Q1) transactions record of the electronic payment (e-payment) channels across the country, showed a shortfall of N5.13 trillion at N34.02 trillion, against N39.15 trillion recorded in Q4 of ...

Read More »