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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

Bank’s N949bn deposits intact, NDIC assures customers

Bank’s N949bn deposits intact, NDIC assures customers

Nigeria Deposit Insurance Corporation (NDIC), has assured customers of the defunct Sky Bank Plc, of maximum guarantee and unhindered access to their deposits in excess of N949.60 billion. Besides, the Corporation revealed that plans have been concluded to settled over ...

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ETPs net flows hit $358b worldwide, as Nigeria’s pension rises to N8.3tr

ETPs net flows hit $358b worldwide, as Nigeria’s pension rises to N8.3tr

Fund managers call for broader distribution channels Chief Executive Officer, The Nigerian Stock Exchange (NSE), Oscar Onyema, has revealed that the global net flows of the Exchange Traded Products (ETPs), is currently put at $358 billion, even as pension fund ...

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AMPs will help AMCON recover N740billion, says Kuru

AMPs will help AMCON recover N740billion, says Kuru

The Asset Management Corporation of Nigeria (AMCON), has reiterated its full support for its Asset Management Partners (AMPs), in the pursuit to recover the 20 per cent or N740billion of the total N3.7trillion Eligible Bank Assets (EBAs) portfolio that are ...

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Global export near $19.6tr in 2018 amid slow economic recovery

Global export near $19.6tr in 2018 amid slow economic recovery

Although Nigerian non-oil exporters express optimism of recovery in 2019, latest data from the United Nations Conference on Trade and Development (UNCTAD), has shown that global merchandise exports could grow by 10.4 per cent this year, hitting almost $19.6 trillion. ...

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‘Nigeria, others must deepen intra-African trade for economic integration’

‘Nigeria, others must deepen intra-African trade for economic integration’

Participants at the 13th African Economic Conference called on African countries to leverage the full range of their strengths and resources to accelerate the region’s drive towards continental integration. Indeed, the experts agreed that a self-reliant approach that emphasizes intra-African ...

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Jaiz Bank partners CBN to deepen rural financial inclusion

Jaiz Bank partners CBN to deepen rural financial inclusion

Determined to strengthen Nigeria’s economic diversity, Jaiz Bank Plc, is partnering with the Central bank of Nigeria (CBN), to promote financial inclusion especially in the rural communities. The Managing Director of the bank, Hassan Usman, revealed the strategic plan will ...

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Govts Urged to Establish Entrepreneurial Hub to Tackle Poverty

The federal and state governments have been advised to set up private sector-led initiatives such as an entrepreneurial hub to tackle the rising incidence of poverty in the country. The Financial Derivatives Company Limited stated this in its latest bi-monthly ...

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SEC, stakeholders reiterate commitment to developing nation’s bourse

SEC, stakeholders reiterate commitment to developing nation’s bourse

The Securities and Exchange Commission (SEC), in collaboration with other stakeholders have adopted strategies to improve key areas in the capital market, especially investor protection and enlightenment campaigns, to enable the market play a dominant role in economic development. The ...

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GSMA highlights policy reforms to lift Nigeria’s economy

GSMA highlights policy reforms to lift Nigeria’s economy

Says country has potential to connect 55% Nigerians by 2025 The Global System for Mobile Telecommunications Association (GSMA), has said modernising regulation and policy reform will be crucial to boosting Nigeria’s digital economy, and accelerating Internet access for millions through ...

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Nigeria gets fresh $200m loan to finance electricity projects

Nigeria gets fresh $200m loan to finance electricity projects

The Federal Government has been granted $200 million loan for the funding of the nation’s electrification project.“The Board of Directors of the African Development Bank Group has approved a $150 million sovereign loan to the Federal Government of Nigeria to ...

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Market indices depress further over persistent free fall in equity prices

Stock market index depreciates by 0.14%

The continued free fall in equity prices, which indicates a low buying interest among the investor-community, has resulted to another significant decline in the market capitalisation and All-Share Index (ASI), estimated at 2.5 per cent. Indeed, the managers of the ...

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Reserves rebound to N42 billion as interbank market gets $541 million

Reserves rebound to N42 billion as interbank market gets $541 million

The nation’s foreign exchange reserves, at the weekend, halted a four-month decline, adding $477 million, accumulated in three trading days, to settle at $42.07 billion. The accretion has been widely attributed to the trickles of the recently floated $2.8 billion ...

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Tightening noose against policy riggers of ‘41 items’

Tightening noose against policy riggers of ‘41 items’

Why interventions are not quick fixes of structural gaps CBN insists policy option is potent, saves $21b in food imports It is not going to be a journey as usual for banks, companies and individual operators behind activities aimed at ...

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SEC DG Restates Commitment to Develop Capital Market

SEC, stakeholders reiterate commitment to developing nation’s bourse

The Acting Director General of the Securities and Exchange Commission (SEC), Ms. Mary Uduk, thursday reaffirmed the commitment of the commission to develop the nation’s capital market in line with the 10-Year Master Plan. Uduk stated this while speaking on ...

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Nigeria imports $3.3 billion steel product

Nigeria imports $3.3 billion steel product

• Awards N15billion contract for gold, lead Minister of State, Mines and Steel, Abubakar Bwari, has said Nigeria still imports an estimated $3.3 billion worth of steel and associated derivatives annually. Bwari said at the 16th Edition of Mines and Money, ...

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Dollar weakens as cautious Fed leads to rate-hike rethink

Dollar weakens as cautious Fed leads to rate-hike rethink

The dollar weakened against other major currencies on Thursday as markets took Federal Reserve Chairman Jerome Powell’s comment that U.S. interest rates were just below neutral as a signal that a three-year rate-hiking cycle is nearing an end. The dollar ...

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Nigeria’s economy is bleak, says World Bank

Nigeria’s economy is bleak, says World Bank

The World Bank has said that Nigeria’s Gross Domestic Product (GDP) growth is expected to hover slightly below two per cent in 2018, largely driven by non-oil industry and services. Its “Economic Update” issued in Abuja yesterday indicates that Nigeria, ...

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Germany invests €20m to address unemployment, migration in Nigeria

Germany invests €20m to address unemployment, migration in Nigeria

The Head of Cooperation, Embassy of Federal Republic of Germany in Nigeria, Christopher Wenzel, has said the German government has identified the need to address growing skill gap in Nigeria, particularly by providing necessary skills to tackle youth unemployment and ...

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As Nigeria struggles with N30,000, South Africa increases minimum wage to N126,480

As Nigeria struggles with N30,000, South Africa increases minimum wage to N126,480

South Africa has increased its minimum wage to N126,480 per month. The news is coming at a time Nigerian workers are uncertain their struggle for a N30, 000 minimum wage would yield result. The Global Wage Report 2018/19 released yesterday ...

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Postal commission bill threatens 100,000 courier jobs– LCCI

Postal commission bill threatens 100,000 courier jobs– LCCI

The Lagos Chamber of Commerce and Industry has kicked against the Nigeria Postal Commission Bill currently before the National Assembly. The chamber in a statement signed by its Director General, Mr. Muda Yusuf, on Sunday, expressed reservation about the bill, ...

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