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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

Agric sector records $12bn post-harvest losses annually – FG

Agric sector records $12bn post-harvest losses annually – FG

The post-harvest losses recorded in Nigeria’s agriculture sector annually is currently about $12bn, the Federal Government said on Thursday. It disclosed this in Abuja through its Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, during the breakfast meeting on the ...

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CBN expects $2bn diaspora remittances monthly, says Emefiele

CBN expects $2bn diaspora remittances monthly, says Emefiele

The Governor of the Central Bank of Nigeria, Godwin Emefiele, on Thursday, said the target of the CBN is for the country to attract about $2bn monthly as remittances from citizens in diaspora. Emefiele’s position is coming after the apex ...

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Reps summon Ahmed, Emefiele over $21bn NLNG funds, N1.2tn proceeds

Reps summon Ahmed, Emefiele over $21bn NLNG funds, N1.2tn proceeds

The House of Representatives, on Thursday, summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed; Governor of the Central Bank of Nigeria, Godwin Emefiele; and the Accountant General of the Federation, Ahmed Idris, over alleged illegal withdrawal of ...

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Present your budgets to National Assembly, Reps tell CBN, FIRS, others

Present your budgets to National Assembly, Reps tell CBN, FIRS, others

The House of Representatives has called on the Central Bank of Nigeria, Federal Inland Revenue Service and other statutory bodies of the Federal Government to emulate the Nigerian National Petroleum Corporation, by making their finances open to the National Assembly ...

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Forex liquidity presents risks to Nigerian banks’ ratings – Fitch

Forex liquidity presents risks to Nigerian banks’ ratings – Fitch

Fitch Ratings has said foreign currency liquidity presents a significant risk to Nigerian banks’ ratings. The international rating organisation said this in its report on Tuesday entitled ‘Fitch Ratings sees gradual recovery for African banks in 2021’. Part of the ...

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FG, Egyptian firm sign pact to invest in gold mining

FG, Egyptian firm sign pact to invest in gold mining

The Federal Government and Messrs La Mancha Incorporated, a leading Luxembourg Incorporated Private Gold Development and Mining Company in Cairo, Egypt, have signed an Expression of Interest to invest in gold mining in Nigeria. Speaking at the signing ceremony supported ...

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Solar system: 25 million Nigerians to pay N4,000 monthly

Solar system: 25 million Nigerians to pay N4,000 monthly

The estimated 25 million Nigerians that will benefit from the Federal Government’s Solar Home Systems that commences this week will be expected to pay about N4,000 monthly, the Presidency has said. The Senior Special Assistant to the Vice President on ...

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12 banks earn N133.92bn from e-payments in nine months

12 banks earn N133.92bn from e-payments in nine months

Increased investment in technology and the introduction of new online payment channels have earned Nigerian banks N133.92bn. media source gives a breakdown of their earnings The adoption of electronic channels for financial transactions earned 12 Deposit Money Banks about N133.92bn ...

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Nigeria, Germany hold consultations on bilateral, economic cooperation

Nigeria, Germany hold consultations on bilateral, economic cooperation

The Federal Government on Sunday announced that it just concluded conversations with the government of Germany on the exchange of views on future bilateral cooperation between both countries. Minister of State, Budget and National Planning, Clem Agba, said both governments ...

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FG disburses N10b Survival Funds to 101,567 beneficiaries nationwide

FG disburses N10b Survival Funds to 101,567 beneficiaries nationwide

Says initial challenges are being surmounted The Federal Government said it has so far disbursed about N10billion from the Micro, Small and Medium Enterprise (MSMEs) Survival Funds, to 101,567 beneficiaries till date, as part of commitment to lift Nigerians out ...

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Some banks, MDAs colluding to divert funds, alleges Lawan

Some banks, MDAs colluding to divert funds, alleges Lawan

President of the Senate, Ahmad Lawan, has accused some banks of conniving with certain categories workers in government agencies to divert public funds to private pockets. He has therefore tasked the anti-corruption agencies to focus more on the activities of ...

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2021 budget report ready on Dec 3, says Senate

Some banks, MDAs colluding to divert funds, alleges Lawan

The Senate Committee on Appropriation on Wednesday promised to submit the harmonised version of the 2021 budget at plenary on December 3. The Chairman of the Committee, Senator Jubril Barau, stated this after some chairmen of other standing panels, submitted ...

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Google to integrate bank accounts in payments app

Google to integrate bank accounts in payments app

The internet giant said Wednesday it would be partnering with commercial banks and credit unions starting next year to allow users to manage mobile-based accounts through the Google Pay platform, in the latest move by tech giants into consumer finance. ...

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C’River, CBN, Dantata to create 20,000 agric jobs

C’River, CBN, Dantata to create 20,000 agric jobs

Cross River State Government is collaborating with the Central Bank of Nigeria and the Dantata Group to create 20,000 agro-based jobs for young people in the state. The state governor, Prof. Ben Ayade, disclosed this when officials from the Dantata ...

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Despite COVID-19, FG, states, LGs shared N2.054tn in Q3, says NEITI

Despite COVID-19, FG, states, LGs shared N2.054tn in Q3, says NEITI

The Federation Account Allocation Committee disbursed a total of N2.05tn to the three tiers of government and other statutory recipients in the third quarter of the year, figures released on Tuesday by the Nigeria Extractive Industries Transparency Initiatives showed. According ...

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We’re not part of FG’s plan to sell national assets – Senate

We’re not part of FG’s plan to sell national assets – Senate

The Senate has said it was not carried along in the planned arrangement by the Federal Government, through its Bureau of Public Enterprises, to either sell or concession some national assets in order to fund part of the 2021 budget. ...

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Experts blame borrowing, fuel price hike as inflation climbs to 14.23%

Experts blame borrowing, fuel price hike as inflation climbs to 14.23%

The hike in food prices and other individual consumption across the country further increased the rate of inflation in Nigeria to 14.23 per cent in October. Figures released by the National Bureau of Statistics on Monday showed that the country’s ...

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Naira plunges to 475 as dollar demand rises

Naira plunges to 475 as dollar demand rises

The naira weakened further on Monday, trading at 475 to the United States dollar in the parallel market amid a rise in demand for the greenback. The local currency, which has come under pressure in recent days, fell to 470 ...

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Govt plans bridge bank to support struggling lenders

Buhari inaugurates 5,000bpd refinery in Imo

Nigeria plans to start a fund that will operate a bridge bank to nurse struggling lenders back to health, Bloomberg reported on Monday. The Central Bank of Nigeria will inject N10bn, or an amount that still needs to be determined by its ...

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FG may reduce minimum tax rate next year

Reps summon Ahmed, Emefiele over $21bn NLNG funds, N1.2tn proceeds

The draft Finance Bill 2020 contains a proposal for the reduction of the minimum tax rate to be paid by companies next year in light of the current economic climate, according to the Fiscal Policy Reforms Committee. The Fiscal Policy ...

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