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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

I’ve never violated any process in AfDB — Adesina

I’ve never violated any process in AfDB — Adesina

African Development Bank President, Dr Akinwumi Adesina, has denied violating any process of the bank. Adesina, in a statement, said “the bank’s institutional framework was solid and efficient” and he stood by it. He insisted that he was innocent of ...

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CBN suspends intervention-loan repayment for one year

CBN suspends intervention-loan repayment for one year

The Central Bank of Nigeria has said it is giving one-year moratorium on all principal repayments for COVID-19 intervention loans through its participating Other Financial Institutions with effect from March 1, 2020. The apex bank said this in a circular ...

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NCC suspends spectrum trading, to adopt new policy

NCC suspends spectrum trading, to adopt new policy

The Nigerian Communications Commission on Wednesday said it has suspended the Spectrum Trading Guidelines of 2018 for the Nigerian telecommunications industry. A statement by the Director of Public Affairs of NCC, Dr Henry Nkemadu, stated that the Board of Commissioners ...

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Nigerian Breweries, Stanbic lead as market gains N9bn

Nigerian Breweries, Stanbic lead as market gains N9bn

The local bourse on Tuesday opened the trading week on the positive trajectory after two-day Sallah holiday declared by the Federal Government. The major performance measures, the NSE ASI and market capitalisation, rose further by 0.07 per cent each as ...

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Nigeria’s GDP rose by 1.87% in Q1 – NBS

Nigeria’s GDP rose by 1.87% in Q1 – NBS

Nigeria’s Gross Domestic Product grew by 1.87 per cent (year-on-year) in real terms in the first quarter of 2020. The National Bureau of Statistics disclosed this in its ‘Nigeria’s Gross Domestic Product’ report for the first quarter of 2020 on ...

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Experts seek removal of VAT, withholding tax on dividend, others

Experts seek removal of VAT, withholding tax on dividend, others

To spur stock market rebound post-COVID-19, experts have called for the removal of Value Added Tax (VAT), and stamp duty on capital market transactions. Also, they urged regulators to review upward the current N5billion investors’ compensation claims in the Investor ...

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TUC urges federal government to reject loan from China

TUC urges federal government to reject loan from China

The Trade Union Congress of Nigeria (TUC), has cautioned the Federal Government against getting loans from China. The union maintained that Nigeria must be circumspect, even as it noted some African countries have rejected China’s loan offers because of the ...

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Oil price rebound improves investors’ patronage, lifts index by 5.59%

Experts seek removal of VAT, withholding tax on dividend, others

• Analysts predict gloomy outlook,blame rising pandemic,weak economy The rebalancing in the oil market, which has resulted in a 94 per cent rebound in crude prices, added to enhanced institutional investors’ patronage in the Nigerian bourse buoyed equities transactions last ...

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Lagos made more money than 26 states combined

Lagos made more money than 26 states combined

Lagos State has retained its place as Nigeria’s economic capital, generating N398.7bn in 2019 alone. The sum is the equivalent of the combined internally generated revenues by 26 states of the federation. The N398.7bn IGR of Lagos State is more ...

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Banks’ Total Assets Rise 11.2% To N42 Trillion

Banks’ Total Assets Rise 11.2% To N42 Trillion

The total assets of banks rose to N42.2 trillion as of the end of February 2020. A member of the Monetary Policy Committee, Dr Rafindadi Sanusi, disclosed this in his presentation during the last MPC meeting of the Central Bank ...

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Inflation hit two-year high at 12.34% in April –NBS

Nigeria’s GDP rose by 1.87% in Q1 – NBS

The consumer price index, which measures the rate of inflation in Nigeria, increased by 12.34 per cent (year-on-year) in April 2020. According to the Consumer Price Index April 2020 report released by the National Bureau of Statistics on Thursday, the ...

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We’re still consulting on revised budget — Finance minister

We’re still consulting on revised budget — Finance minister

The Minister of Finance, Budget and National Planning, Zainab Ahmed, on Thursday met with the leaders of some key committees of the National Assembly to get their input for the revised 2020 budget. The budget is still being put together ...

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FG begins sale of N150bn Sukuk bond

FG begins sale of N150bn Sukuk bond

The Federal Government on Thursday commenced the sale of N150bn seven-year Sukuk bond offer meant for the development of road infrastructure in different parts of the country. The Debt Management Office disclosed this on its website adding that the offer ...

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BDCs warn members against speculation, dollar exchanges N461/$

BDCs warn members against speculation, dollar exchanges N461/$

The Association of Bureaux De Change Operators of Nigeria has warned its members and forex speculators putting pressure on the naira to stop the practice or risk losing their money. This came as the dollar was on Wednesday exchanged for ...

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No forex for goods with local substitutes –Emefiele

No forex for goods with local substitutes –Emefiele

The Central Bank Governor, Mr Godwin Emefiele, has said that the CBN will not support the importation of items that can be produced in Nigeria with forex. As Nigeria continued the process of full reopening of the economy, he urged ...

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Stock market indices gain N36 billion

Stock market indices gain N36 billion

Following price gains recorded by most blue-chip stocks, the Nigerian equities market commenced trading for the week on a positive note yesterday, as investors’ wealth appreciated by N36billion. Specifically, at the close of transactions yesterday, the All Share Index (ASI) ...

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DBN tasks SMEs on sustainability measures

DBN tasks SMEs on sustainability measures

The Development Bank of Nigeria Plc has advised micro, small and medium enterprises in the country to reinvent their current business models to enable them to leverage growth opportunities for their businesses in the post COVID-19 era. A statement from ...

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Banks adjust operations as lockdown eases

Banks adjust operations as lockdown eases

Deposit Money Banks are adjusting their operations and introducing measures for customers to access the banking halls as the lockdown directives ease. While some have been sending lists of branches that will open during the week, other banks say use ...

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LCCI demands one-year tax holiday for manufacturers, healthcare firms

LCCI demands one-year tax holiday for manufacturers, healthcare firms

Given the devastating blow coronavirus has dealt businesses in the past five weeks, business owners in the country have demanded one-year tax break among others from the government to enable them to recover. This was contained in the Lagos Chamber ...

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InterSwitch Boss Advises Start-Ups On Funding

InterSwitch Boss Advises Start-Ups On Funding

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