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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

PenCom gives insurance compliance, submission deadline

PenCom gives insurance compliance, submission deadline

In compliance to the Pension Reform Act (PRA) 2014, the National Pension Commission (PenCom), has given employers of labour up till March 31st, to comply with the guidelines for life insurance policy for employees, and the submission of insurance certificates. ...

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Stock Market Sheds N196bn over Deferment of Polls

Stock Market Sheds N196bn over Deferment of Polls

The Nigerian stock market took a plunge yesterday as some disappointed investors reduced their appetite for equities while others sold to lock in profits due to apprehension over the delayed elections. The Nigerian Stock Exchange (NSE) All-Share Index, which gained ...

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FG Highlights Gains of GEM, World Bank-funded Project

FG Highlights Gains of GEM, World Bank-funded Project

The project implementation Unit of the GEM Project yesterday said the $160 million World Bank-funded project, being implemented by the Federal Ministry of Industry, Trade and Investment (FMITI), has been a success story. The Strategy Communications Adviser to the Minister ...

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Economy as epicenter of elections brouhaha in 2019

Economy as epicenter of elections brouhaha in 2019

Barely 24 hours to the kick off of 2019 general elections, which were botched at the last minute, the National Bureau of Statistics said the country yearly inflation dropped to 11.37 per cent in January, down from the seven-month high ...

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Sector to lose N46 billion income to 9.2m uninsured vehicles

Sector to lose N46 billion income to 9.2m uninsured vehicles

The gale of premium losses to the nation’s insurance industry has continued with estimated N46 billion on the line from non-insurance of 9.2 million vehicles across the country.According to the Nigerian Bureau of Statistics(NBS) report, out of estimated 11.7 million vehicles ...

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CIS To Train Stockbrokers On Investment Analysis

Stock Market Sheds N196bn over Deferment of Polls

The Chartered Institute of Stockbrokers has revealed plans to train stockbrokers to enable them to understand the dynamics of technical analyses for capital market investment. The CIS, in a statement on Thursday last week, said the training was part of ...

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Tax Defaulters: FIRS Contravening Tax Laws – KPMG

Tax Defaulters: FIRS Contravening Tax Laws - KPMG

KPMG, one of the big four auditors in the world, says the Federal Inland Revenue Service has contravened the Companies Income Tax Act by freezing the accounts of suspected tax defaulters. KPMG said the FIRS had gone draconian by giving ...

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Banks’ Instant Pay Transactions Hit 2.5 Million On Val’s Day

Banks’ Instant Pay Transactions Hit 2.5 Million On Val’s Day

Bank customers carried out about 2.5 million transactions on Nigeria Interbank Settlement System Instant Pay platform recorded on Valentine’s Day, live updates provided by the NIBSS have shown. As shopping for gift items and visit to entertainment spots in the ...

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2019 budget an opportunity for private sector to thrive, says Akabueze

2019 budget an opportunity for private sector to thrive, says Akabueze

Worried by the dwindling fortunes of Nigeria’s economy, the Director-General, Budget Office of the Federation, Ben Akabueze, has said the proposed N8.83 trillion 2019 national budget presents opportunities for the organised private sector to strive. Akabueze said this in a ...

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CBN eases Capital Pressure on Struggling Banks

CBN eases Capital Pressure on Struggling Banks

Nigeria’s central bank has given the country’s lenders some much-needed relief by extending the time they will have to implement stricter accounting rules for bad loans. Lenders in the West African country now have four years to absorb impairments arising ...

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Ashaka Cement to inaugurate N11bn 16MW power plant

Ashaka Cement to inaugurate N11bn 16MW power plant

Ashaka Cement Company, a subsidiary of Lafarge Africa Plc has unveiled plans to inaugurate a 16-megawatt power plant in order to improve and solve the country’s energy problem. The Managing Director, Ashaka Cement, Rabiu Abdullah Umar, who disclosed this while ...

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Nigeria’s small businesses suffer N48 trillion funding gap

Nigeria’s small businesses suffer N48 trillion funding gap

CBN sensitises judicial officers on collateral registry The numerous intervention schemes notwithstanding, the Central Bank of Nigeria (CBN) has put the existing financing gap in the small business segment of the economy at $158 billion (N48 trillion).According to the apex ...

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Stockbrokers knock FG for not reconstituting SEC board

Stockbrokers knock FG for not reconstituting SEC board

Chartered Institute of Stockbrokers (CIS) has faulted the Federal Government’s failure to reconstitute the Securities and Exchange Commission (SEC) board, after almost five years that the previous board had been dissolved. Past president of the institute, Michael Itegboje, at the ...

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Court warns CBN, NCC, others against concluding Etisalat’s sale

Court warns CBN, NCC, others against concluding Etisalat’s sale

• Aggrieved shareholders plan fresh suits The Federal High Court, Abuja, has warned the Central Bank of Nigeria (CBN), Nigerian Communications Commission (NCC) and others involved in the move to sell Etisalat (9mobile) against taking any further step in that ...

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Sluggish Investment Decisions To Moderate 2019 Growth —ICAN

Sluggish Investment Decisions To Moderate 2019 Growth —ICAN

Sluggish investment decisions that may arise as a result of expectations from the general elections among other factors will moderate the growth prospects for Nigeria in 2019, the Institute of Chartered Accountants of Nigeria, has said The President, ICAN, Alhaji ...

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FG Deploys Tools To Check Price Disparity In Procurement Contracts

FG Deploys Tools To Check Price Disparity In Procurement Contracts

The Federal Government has deployed a new portal to be known as the price checker to harmonise prices of items to be acquired by agencies of government during procurement processes. The move is one of the financial management reforms being ...

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AFAR Develops Forensic Research To Curb Financial Fraud

AFAR Develops Forensic Research To Curb Financial Fraud

The Association of Forensic Accounting Researchers has said it is committed to the development of forensic accounting research in the country to curb incidence of financial fraud. The Chairman, AFAR Governing Board, Prof Muhammad Mainoma, said this during the association’s ...

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Bankers Canvass New Economic Strategies, Approval Of CFTA

Bankers Canvass New Economic Strategies, Approval Of CFTA

Bankers in Nigeria have said it is cogent for the country to rethink its strategy of handling some of its economic activities and that the Continental Free Trade Agreement should be rectified. The President/Chairman of Council, Chartered Institute of Bankers ...

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Investors’ wealth soars by N258b in four trading days of bulls’ run

Investors’ wealth soars by N258b in four trading days of bulls’ run

Increased bargain-hunting for blue-chip stocks despite the high wave of volatility has continued to buoy transactions in the equities sector of the Nigerian Stock Exchange (NSE) as investors’ wealth soared significantly by N258 billion in four trading days. Precisely, the ...

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Telecoms ecosystem projects to see $10b in IPO, M&E

Telecoms ecosystem projects to see $10b in IPO, M&E

MTN expects 20% in 2018 earnings Telecoms ecosystem in Nigeria, and other sub-Saharan Africa, have been projected to see over $10 billion deals in 2019, as investors’ appetite and valuation grows. According to TMT Finance, Africa Telecom, Media and Technology ...

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