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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

CBN to restrict forex on more food items, says Emefiele

CBN to restrict forex on more food items, says Emefiele

The solution to our problems lies with us, Buhari declares Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has disclosed that it will deny foreign exchange (Forex) for importation of more items at both commercial banks and the ...

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Entrepreneurs seek focus on MSMEs to address nation’s economy challenges

Entrepreneurs seek focus on MSMEs to address nation’s economy challenges

Entrepreneurs have urged players in the Micro, Small and Medium Enterprises (MSMEs) as well as the Federal Government to pay more attention to the sector as part of measure to address gaps in the nation’s economy. The stakeholders, who gathered ...

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Firms collaborate to expand toy production across Africa

Auldon Toys has signed a memorandum of understanding with Polesie, one of Europe’s biggest toy manufacturer, for a retail deal and local assembling of high-quality toys that meet international safety standard within Nigeria. The partnership, which was sealed with Nigerian-based ...

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Zenith Bank posts N111.7 billion profits in H1

Zenith Bank posts N111.7 billion profits in H1

•Declares 30kobo interim dividend  Zenith Bank Plc has announced its audited results for the Half Year (H1) ended June 30, 2019, recording Profit Before Tax (PBT) of N111.7 billion, representing a 4 per cent rise over ₦107.4 billion achieved in the ...

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Insurance sector may lose 72% of Dangote refinery’s risk

Insurance sector may lose 72% of Dangote refinery’s risk

The nation’s insurance industry may lose 72 per cent of the insurance business in the Dangote Oil Refining company. The company, which has insured value estimated at $6.8 billion, may be overtaken by foreign operators, when it becomes operational as ...

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CBN’s CNY1.2b interventions and forex developments

CBN’s CNY1.2b interventions and forex developments

Averts over $178m spot pressure on reserves, exchange rate The week-long visit of President Muhammadu Buhari to the People’s Republic of China between April 11 and 15, 2016, was alongside the Governor of the Central Bank of Nigeria (CBN), Godwin ...

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Buhari summons FIRS boss over tax revenue decline

Buhari summons FIRS boss over tax revenue decline

President Muhammadu Buhari has summoned the Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, to the Presidential Villa today to explain tax collection variations between 2015 and 2018. Specifically, President Buhari in a letter alleged variations in budgeted ...

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Bearish run pushes market index down by N15 billion

Bearish run pushes market index down by N15 billion

The reign of bears sustained on the equities sector of the Nigerian Stock Exchange (NSE), as more bluechip stocks joined the league of the losers, resulting to a further slide in market capitalisation by N15 billion. Yesterday, the NSE-ASI fell ...

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Stakeholders seek clarification of forex ban for food import

Stakeholders seek clarification of forex ban for food import

• Say action will fuel smuggling • As claim on food sufficiency is misleading  Industry stakeholders have called for further clarification on the recent pronouncement by President Muhammadu Buhari that Nigeria has attained food security, and as such, the Central ...

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Central Bank to disburse lower currencies to microfinance banks

Central Bank to disburse lower currencies to microfinance banks

To stem the scarcity and hawking of the currency, the Central Bank of Nigeria (CBN), has released guidelines for the disbursement of lower denominations of the naira through microfinance banks (MFBs), across the country. A circular issued by the CBN’s ...

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NITDA insists internet regulation is in public interest

NITDA insists internet regulation is in public interest

The National Information Technology Development Agency (NITDA), has warned interest groups in the information and communications technology (ICT) sector not to set government agencies regulating them on a collision course. NITDA, which said it enjoys a harmonious relationship with the ...

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Unity Bank’s agribusiness, retail lifts profit by 96%

Unity Bank’s agribusiness, retail lifts profit by 96%

Unity Bank Plc has stated that its increasing focus on areas of strength, especially agribusiness and retail banking, has impacted positively its bottom line, as it recorded 96 per cent rise in Profit Before Tax (PBT) for the half-year ended ...

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‘Nigeria can fight poverty if forex potential is explored’

‘Nigeria can fight poverty if forex potential is explored’

Nigeria can reduce its level of unemployment and fight poverty if the potential in the foreign exchange (fx) market is fully explored, FX expert has said. According to them, using institutional mechanism to drive a profitable foreign exchange in the ...

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BUA, NETAFIM seal pact on automated sugar irrigation project

BUA, NETAFIM seal pact on automated sugar irrigation project

BUA Group and Netafim of Isreal have signed an agreement for the largest ever fully automated drip irrigation project for the BUA Lasuco Sugar Company, Lafiagi, Kwara State, Nigeria. This agreement signing which took place at the Nigeria Sugar Development ...

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Ecobank canvasses standards, good governance to drive intra-Africa trade

Ecobank canvasses standards, good governance to drive intra-Africa trade

The Group Chairman, Ecobank Transnational Inc., Emmanuel Ikazoboh, has urged Nigerians to ensure their products meet global standards. He explained that good products and services that meet international standards coupled with good corporate governance and trust are major factors that ...

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NCC to decommission 693 abandoned telecoms masts

NCC to decommission 693 abandoned telecoms masts

• Owners get 90-day notice to fix, remove, others The Nigerian Communications Commission (NCC) may decommission about 693 telecoms masts alleged to have been abandoned in several parts of the country. NCC however, gave owners of the mast 90-days to ...

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Absence of clear economic direction, others drag NSE index further 1.17%

Absence of clear economic direction, others drag NSE index further 1.17%

At the close of transactions last week, the All-Share Index (ASI) and market capitalisation of the Nigerian Stock Exchange (NSE) depreciated by 1.17 per cent to close the week at 27,306.81 points and N13.307 trillion respectively. Similarly, all other indices ...

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How global rate cut push is supporting credit in Nigeria

How global rate cut push is supporting credit in Nigeria

Central banks in advanced and developing countries are adopting expansionary monetary policy stance in order to stimulate economic growth. The move, which now tends towards a global unanimity, is, however, creating initial benefits for Nigeria, even as it remains cautious ...

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SEC advises Nigerians to shun ponzi schemes

SEC advises Nigerians to shun ponzi schemes

The Securities and Exchange Commission (SEC) has again warned Nigerians to desist from investing in schemes that offer unreasonable returns and not approved by the commission. Acting Director-General of SEC, Mary Uduk, who stated this in an interview with journalists ...

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1,500 MSMEs To Benefit From Shared Facility Scheme — Osinbajo

1,500 MSMEs To Benefit From Shared Facility Scheme — Osinbajo

The Vice President, Prof. Yemi Osinbajo, has said that over 1,500 micro, small and medium enterprises (MSMEs) will benefit directly from the first phase of the shared facility scheme being facilitated by the federal government. Osinbajo stated this at the ...

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