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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

Health, education, Niger-Delta to suffer N321bn budget cut

Health, education, Niger-Delta to suffer N321bn budget cut

The slash in the Federal Government’s budget by about N321bn would mostly affect projects to be implemented in the Niger-Delta, North-East, basic education, healthcare and other sectors of the economy. The executive arm of government had on Wednesday sent a ...

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Stock market extends gain by N77bn

Stock market extends gain by N77bn

Nigerian stocks on Wednesday sustained its positive outlook as the overall performance measures, NSE ASI and market capitalisation, rose further by 0.71 per cent each. Market watchers attributed the development to renew of confidence as bargain hunters leverage undervalued stocks. ...

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FG slashes budget, sends to National Assembly for review

Health, education, Niger-Delta to suffer N321bn budget cut

The Federal Government has revised downward the revenue projection for the 2020 budget by N3.3tn from the initial approved amount of N8.41tn to N5.08tn. The revised revenue projection is contained in a proposal sent to the National Assembly by the ...

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$320m Abacha loot: Nigeria opposes US senator’s moves against return

$320m Abacha loot: Nigeria opposes US senator’s moves against return

The Nigerian government has kicked against an attempt by United States lawmaker, Senator Chuck Grassley, to block the repatriation of $320m laundered by the late Head of State, Gen. Sani Abacha. Grassley, who is the highest ranking senator in the ...

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Markets slowly return to life for Easter shopping

Markets slowly return to life for Easter shopping

Pushed by the pangs of declining economic power, many traders in Lagos yesterday took the window of the four hours grace to return actively into their bristling commercial activities. Few days after the pronouncement of the lockdown by the president ...

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Panel to monitor COVID-19 fund usage, says FG

Panel to monitor COVID-19 fund usage, says FG

The Federal Government will soon constitute a special committee to monitor the disbursement of donations made by individuals, corporate organisations and public sector players towards addressing the coronavirus pandemic. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, ...

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Zenith Bank introduces automated voice banking service

Zenith Bank introduces automated voice banking service

Zenith Bank Plc says it has introduced an automated voice banking service, an interactive voice response solution which enables customers to perform basic banking transactions by dialling a dedicated phone line through their registered phone numbers and following the prompts. ...

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Buhari Approves N500billion COVID-19 Intervention Fund

COVID-19: Buhari approves withdrawal of $150m from Sovereign Wealth Fund

By Kenneth Jukpor   Nigeria’s President, Mohammadu Buhari has approved the establishment of N500 billion COVID-19 Crisis Intervention Fund to provide a holistic fiscal approach to addressing the pandemic in the country.   The establishment of this COVID-19 Crisis Intervention ...

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CBN warns against rising COVID-19 cyberattacks

CBN warns against rising COVID-19 cyberattacks

The Central Bank of Nigeria has urged bank customers to avoid cybercriminals who are taking advantage of the COVID-19 pandemic to defraud citizens. According to the CBN, the fraudsters steal sensitive information, or gain unauthorised access to computers or mobile ...

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Nigeria to borrow $6.9bn from World Bank, IMF, AfDB

Nigeria to borrow $6.9bn from World Bank, IMF, AfDB

The Federal Government is to raise the sum of $6.9bn through external borrowing from the World Bank, the International Monetary Fund and the African Development Bank. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed this on ...

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COVID-19: Buhari approves withdrawal of $150m from Sovereign Wealth Fund

COVID-19: Buhari approves withdrawal of $150m from Sovereign Wealth Fund

The President, Major-General Muhamadu Buhari (retd.), has given approval for the withdrawal of $150m from the Sovereign Wealth Fund for distribution to the three tiers of government. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed this ...

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NAICOM adjusts rules of insurers’ operations

NAICOM adjusts rules of insurers’ operations

The National Insurance Commission says it has given regulatory forbearance to insurance companies as part of business continuity measures to ensure availability of insurance services and protection of policyholders during the COVID-19 movement restriction. In a circular to the regulated ...

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Index slumps further by 3.51% as pandemic wreaks havoc on global economy

Index slumps further by 3.51% as pandemic wreaks havoc on global economy

As COVID-19 continues to wreak havoc on economic activities across the globe, the Nigerian equities market recorded another bearish outing at the end of last week”s transactions. Specifically, the All-Share index and market capitalisation plummeting by 3.51 per cent to ...

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Refunds For Some Failed Bank Transactions Suspended

Refunds For Some Failed Bank Transactions Suspended

Refunds for failed Visa and Verve card transactions on other banks Automated Teller Machines and Point of Sale terminals have been suspended. Fidelity Bank notified it customers in a mail sent out to them on Thursday. The message read, “Kindly ...

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Small Businesses Worry Over Access To Stimulus Package

Small Businesses Worry Over Access To Stimulus Package

Small business owners have raised concerns over the requirements placed before them by the Central Bank of Nigeria to access the stimulus package announced by the President, Major General Muhammadu Buhari (retd.), for the sector. The President, Association of Small ...

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Mouka Donates 700 Mattresses To LASG

Mouka Donates 700 Mattresses To LASG

Mouka Foam, one of Nigeria’s leading manufacturers of mattresses and bedding products, says it has donated 700 mattresses to the Lagos State Government. This was contained in a statement from the company, indicating that 500 of the mattresses were meant ...

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BoI Records N39.33bn Profit

BoI Records N39.33bn Profit

‌The Bank of Industry (BoI) has said the profit before tax of the group grew by 7.2 percent year-on-year to N39.33bn at the end of 2019 from N36.66bn at the corresponding period of 2018. The increase in profitability was as ...

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COVID-19: FG urges Telcos to subsidise calls, data for Nigerians

COVID-19: FG urges Telcos to subsidise calls, data for Nigerians

ISA Pantami, minister of Communications and Digital Economy, has called on telecommunications service providers to subsidy and relax calls and data for Nigerians. Pantami, on his Twitter handle, said: “As earlier conveyed, as the Minister of Federal Ministry of Communications ...

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Dangote Cement leads gainers to halt market downtrend

Dangote Cement leads gainers to halt market downtrend

The Nigerian equity market on Thursday closed on a positive note as Dangote Cement Plc led other gainers to halt the negative sentiment of three consecutive trading days. However, the market breadth closed negative, with 19 losers as against seven ...

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Foreign reserves shed $3.02bn in three months

Foreign reserves shed $3.02bn in three months

The country’s foreign reserves have continued its downward trend dropping by $3.02bn from $38.53bn on January 2, 2020 to $35.51bn as of March 27, 2020, latest statistics from the Central Bank of Nigeria have revealed. According to the figures, the ...

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