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

Import dependence worsening food crisis in Nigeria — IMF

Import dependence worsening food crisis in Nigeria — IMF

The International Monetary Fund has said that the food crisis currently ravaging Nigeria and other sub-Saharan countries has been exacerbated by over-reliance on imported foods. In a new report titled, “Africa Food Prices Are Soaring Amid High Import Reliance,” the …

Read More »

Businesses face crunch, CBN raises rate to 15.5%

Businesses face crunch, CBN raises rate to 15.5%

•It’s a panic measure, NACCIMA, others•Rate hike’ll worsen cost of capital – Economists•CBN eyes liquidity mop-up on Thursday In consideration of the galloping global and local inflationary levels, the Monetary Policy Committee of the Central Bank of Nigeria, on Tuesday, …

Read More »

VAT Revenue Grows As  FG, States, LGAs Share N673.137bn Allocation For August

VAT Revenue Grows As  FG, States, LGAs Share N673.137bn Allocation For August

The Federal Government, States and Local Government Councils,have received from the Federation Account Allocation Committee ( FAAC) a total of N673.137 billion  for  August,2022,from the federation account revenue. According to a release signed by Henshaw Ogubike Director of Information, Press …

Read More »

Nigeria’s economic outlook uncertain, welfare worsening – W’Bank

Nigeria’s economic outlook uncertain, welfare worsening – W’Bank

The World Bank has said that Nigeria’s economic outlook is uncertain and its ability to attract domestic and foreign investments is also crashing. It also noted that the condition of welfare in Nigeria was worsening despite the economic recovery from …

Read More »

ICPC boss, Owasannoye, diversion of public funds, illicit financial flows

ICPC boss, Owasannoye, diversion of public funds, illicit financial flows

The chairman of the independent and anti-corrupt practices commission (ICPC), Prof Bolaji Owasannoye has decried the alarming rate of diversion of public funds in the country. Speaking during a two-day capacity-building workshop for members of the House of Representatives Committee …

Read More »

Senate eyes tax on unoccupied, expensive Abuja buildings

Senate eyes tax on unoccupied, expensive Abuja buildings

  The newly appointed chairman of the Senate Committee on the Federal Capital Territory, Senator Smart Adeyemi, has said that the upper chamber will introduce a property tax on unoccupied buildings and outrageously expensive buildings within the capital city. Adeyemi …

Read More »

Cybercrime, bane of banking industry – expert

Cybercrime, bane of banking industry – expert

A non Executive Director, Central Bank of Nigeria, Prof. Mike Obadan, has expressed concern over the activities of hackers. He noted that they have continued to affect the growth of the banking sector. Obadan, who stated this on Wednesday at …

Read More »

2023 presidential election crucial to Nigeria’s economy – LCCI

2023 presidential election crucial to Nigeria’s economy – LCCI

  The Lagos Chamber of Commerce and Industry has said the forthcoming 2023 presidential polls will play a crucial role in bringing Nigeria’s economy out of the doldrums. The President of the chamber, Dr Michael Olawale-Cole, stated this at the …

Read More »

Many traders haven’t benefitted from TraderMoni – Traders’ association

Many traders haven’t benefitted from TraderMoni – Traders’ association

The Market Traders Association of Nigeria has said many traders across Nigeria did not benefit from the soft loans meant for traders known as ‘TraderMoni’. The Chairman, Project Committee of MATAN, Olakunle Johnson, said this on Thursday while speaking  in …

Read More »

Nigeria targets 10MT per hectare maize production by 2025

Nigeria targets 10MT per hectare maize production by 2025

The Federal Government, through Nigeria Sovereign Investment Authority (NSIA), has unveiled plans to support increased maize production from 1.5tonnes to 10tonnes per hectare by 2025. The NSIA Managing Director, Uche Orji, while speaking at a media briefing, yesterday, in Abuja …

Read More »

Estimated bill consumers rise to 5.85 million – Report

Estimated bill consumers rise to 5.85 million – Report

The number of power consumers on estimated billing in Nigeria increased to 5.85 million in the second quarter of 2022, from 5.84 million recorded in the first quarter of this year. A report on Nigeria Electricity Data released on Tuesday …

Read More »

CBN approves payment coy for Access Corporation

CBN approves payment coy for Access Corporation

  The Central Bank of Nigeria has given its final approval for a new payment subsidiary, Hydrogen Payment Services Company Limited, a company fully owned by Access Corporation. This was disclosed in a letter signed by the Access Corporation’s Secretary, …

Read More »

Buhari seeks Senate approval for N402bn promissory notes

Buhari seeks Senate approval for N402bn promissory notes

The President, Major General Muhammadu Buhari (Retd.), in separate letters to the Senate, sought approval for the issuance of promissory notes totaling over N402bn to three states. The first of such requests read in plenary by President of the Senate, …

Read More »

Corruption ruining Nigeria, fuel subsidy organised crime – Obi

Corruption ruining Nigeria, fuel subsidy organised crime – Obi

  The presidential candidate of the Labour Party, Mr Peter Obi, has said that fiscal recklessness, inability to tackle insecurity and corruption  have been primarily responsible for Nigeria’s failing economy. Obi also said that domestic problems, caused by leadership failure, …

Read More »

ICPC uncovers N400bn fraud in 2021, 2022 budgets

ICPC uncovers N400bn fraud in 2021, 2022 budgets

  •••N100bn dubiously inserted •••N50bn manipulated as salaries for ghost workers The Independent Corrupt Practices and Other Related Offences Commission,  on Thursday, disclosed that the N13.59trillion 2021 budget was padded by the various Ministries, Departments and Agencies, with duplicated projects …

Read More »

Shea butter, vegetable oil import gulp $264m – RMRDC

Shea butter, vegetable oil import gulp $264m – RMRDC

The Raw Materials Research and Development Council has said Nigeria spent $264m on the importation of shea-butter and castor oil in 2021. Speaking at a strategic sectoral dialogue session on the future of the chemical and pharmaceutical industry in Nigeria …

Read More »

Nigeria’s inflation hits 20.52% in August

Nigeria’s inflation hits 20.52% in August

The National Bureau of Statistics on Thursday said Nigeria‘s headline inflation climbed to a new high of 20.52 per cent in August on a year–on–year basis. This was 3.52% points higher compared to the rate recorded in August 2021, which …

Read More »

Banks deposits rise by 24% to N42tn

Banks deposits rise by 24% to N42tn

Total deposits in the banks rose by 24.17 per cent from N33.85tn as of the end of June 2021 to N42.03tn in the corresponding period of 2022. The Deputy Governor, Financial Systems Stability Directorate, Aishah Ahmad, disclosed this in her …

Read More »

Stock market loses N38bn as 13 equities decline

Stock market loses N38bn as 13 equities decline

  The equities market of the Nigerian Exchange Limited declined by N38bn at the end of trading on Monday as 13 firms saw their share prices fall. The NGX All-Share Index closed at 49,625.71 basis points on Monday from 49,695.12 …

Read More »

2023: Senate, minister disagree over N12.43tn budget deficit

VAT Revenue Grows As  FG, States, LGAs Share N673.137bn Allocation For August

  The Senate, through its Committee on Finance, has disagreed with the Minister of Finance, Budget and National Planning,  Zainab Ahmed, as well as heads of revenue generating agencies in the country on the proposed  2023 – 2025   Medium Term …

Read More »
× Get News Alert