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

Nigeria’s Capital Importation Fell To $875.62m In Q2

Nigeria’s capital importation fell to $875.62m in Q2

The total value of capital importation into Nigeria declined to $875.62m in the second quarter of 2021 from $1.91bn in the first quarter of 2021. The National Bureau of Statistics disclosed this in its report titled, ‘Nigerian capital importation (Q1 …

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Ibadan Gemstones Market Undeveloped Despite FG’s Promises

Ibadan gemstones market undeveloped despite FG’s promises

•We are formalising, developing, enhancing value- Minister Six months after the Federal Government declared its intention to establish an international gemstones market in Ibadan and stated that it had commenced the process for the construction, media source reports that the …

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In rare courage, CBN weakens BDC operations, stops FX funding

In rare courage, CBN weakens BDC operations, stops FX funding

• Indicts operators for money laundering • We receive 5,000 fresh BDC applications monthly, says Emefiele • MPR, other monetary parameters retained • Decision a rumour until we see CBN circular, operators insist • Cordros Research: Discontinuation of FX to …

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MPC urged to maintain status quo amid inflation, weak economy

MPC urged to maintain status quo amid inflation, weak economy

As the Monetary Policy Committee (MPC) meets, experts have called on the Central Bank of Nigeria (CBN) to keep monetary policy rates at current values while strengthening intervention initiatives in critical sectors of the economy. According to experts, maintaining the …

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Nigeria’s revenue-to-GDP ratio lowest, private sector choking – World Bank

Nigeria’s revenue-to-GDP ratio lowest, private sector choking – World Bank

Nigeria’s revenue-to-Gross Domestic Product ratio, which fell to between five and six per cent last year, is the lowest in the world, the World Bank said on Monday. The Country Director for Nigeria, World Bank, Dr Shubham Chaudhuri, said this …

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Oil, gas firms lead as stock market gains N94bn

Oil, gas firms lead as stock market gains N94bn

Oil and gas firms led the upturn in the stock market on Monday as investors gained N94.04bn at the end of trading on the floor of Nigerian Exchange Limited. The NGX All-Share Index appreciated by 0.47 per cent on Monday …

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Stock Market Rebounds With N376bn Weekly Gain

Stock market rebounds with N376bn weekly gain

Stock trading on the floor of the Nigerian Exchange Limited rallied with a total gain of N375.50bn last week despite the lower trade volume occasioned by the public holidays on Tuesday and Wednesday. The NGX All-Share Index closed 1.90 per …

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Naira Exchanges For 503/$ At Parallel Market

Naira exchanges for 503/$ at parallel market

The naira exchanged to the dollar at 503 at the parallel market on Friday according to the Bureau de Change operators. Figures obtained from naijbdcs.com, the official website for the licensed BDCs by the Central Bank of Nigeria showed that …

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Beans, Tomatoes, Rice Record 253%, 123%, 51% Price Hike

Beans, tomatoes, rice record 253%, 123%, 51% price hike

•Farmers decry worsening insecurity, FG promises intervention The cost of food items in Nigeria has been recording significant increases in the past one year. A survey carried out by our correspondents in markets across Lagos, Ogun and Federal Capital Territory …

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Economy Shrank In May Amid Low Purchasing Power – CBN

Economy shrank in May amid low purchasing power – CBN

The Purchasing Managers Index revealed that the Nigerian economy contracted in May, according to data obtained from the Central Bank of Nigeria on Thursday. The personal statements of some members of the Monetary Policy Committee indicated that the PMIs for …

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Senate Committee Urges FG To Concession Eleme-Onne Road

Senate committee urges FG to concession Eleme-Onne road

The Senate Committee on Trade and Investment has called on the Federal Government to give out the Eleme-Onne Road in Rivers State to a private investor for reconstruction and management, considering that the road is a key transport artery for …

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Lagos Fair Will Position MSMEs For Growth, Says Commissioner

Lagos Fair Will Position MSMEs For Growth, Says Commissioner

The Commissioner for Commerce, Industry and Cooperatives in Lagos State, Dr Lola Akande, has stated that the Lagos Micro Small and Medium Enterprises Exclusive Fair will position MSMEs for growth and continually yield dividends long after the event. According to …

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Reps panel recommends arrest warrants on Emefiele, Kyari, others

Reps panel recommends arrest warrants on Emefiele, Kyari, others

The Committee on Public Accounts has prayed the House of Representatives to issue warrants of arrest on Governor of the Central Bank of Nigeria, Godwin Emefiele; Group Managing Director of the Nigerian National Petroleum Corporation, Melee Kyari; Sole Administrator of …

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Stock Trading Volume Jumps 189% As 22 Firms Gain

Stock trading volume jumps 189% as 22 firms gain

Twenty-two firms listed on the Nigeria Exchange Limited saw their share prices increase on Monday, with trading volume rising by 189.27 per cent. Investors in the equities market gained N3bn as the market capitalisation rose to N19.77tn while the NGX …

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AMCON Recovers N1.4tn, Says 350 Chronic Debtors Owe N2.05tn

AMCON recovers N1.4tn, says 350 chronic debtors owe N2.05tn

The Managing Director of the Assets Management Corporation of Nigeria, Ahmed Kuru, on Monday disclosed that so far, the corporation had recovered about N1.48tn out of N4.158tn owed by bank debtors. He stated that due to debt recovery challenges the …

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FG Plans N12.3bn Subsidy For Two Million Farmers

FG plans N12.3bn subsidy for two million farmers

Over 2.2 million farmers are to receive about N12.3bn as agricultural subsidy from the Federal Government in coming weeks, it was gathered on Sunday. Presidency officials confirmed that the President, Major General Muhammadu Buhari (retd.), had already approved a N6.15bn …

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External Reserves Drop By $180m In Two Weeks

External reserves drop by $180m in two weeks

The country’s external reserves lost $180m in two weeks, the latest figures obtained from the Central Bank of Nigeria showed on Sunday. According to the figures, the reserves, which stood at $33.28bn on July 1, dropped to $33.09bn as of …

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Stock Market Sheds N24.5bn As 32 Firms Record Losses

Stock market sheds N24.5bn as 32 firms record losses

The Nigerian stock market lost N24.49bn last week as 32 firms saw their share prices decline at the end of trading. The Nigerian Exchange Limited All-Share Index dipped by 0.12 per cent to close at 37,947.18 basis points on Friday …

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Alakija Launches N1bn Fund To Promote Female Entrepreneurship

Alakija launches N1bn fund to promote female entrepreneurship

Flourish Africa has announced the launch of a N1bn facility to fund and promote female-owned businesses in Africa. The female empowerment platform, founded by a Nigerian businesswoman and philanthropist, Mrs Folorunsho Alakija, was designed to help women achieve their full …

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Nigeria Wants Small-Scale Fishers Exempted From WTO’s Subsidy Ban

Nigeria wants small-scale fishers exempted from WTO’s subsidy ban

The Minister of Industry, Trade and Investment, Niyi Adebayo, has called on the World Trade Organization to exempt small-scale and artisanal fishers from the scope of its fisheries subsidies discipline. Adebayo expressed Nigeria’s readiness to negotiate on appropriate special and …

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