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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

CBN, SEC anchor cryptocurrency ban on financial system protection

CBN, SEC anchor cryptocurrency ban on financial system protection

The Central Bank Governor, Mr Godwin Emefiele, on Tuesday said the bank’s decision to prohibit deposit money banks, non-banking institutions and other financial institutions from facilitating trading and dealings in cryptocurrency was in the best interest of Nigerian depositors and ...

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NSE market capitalisation appreciates by N27bn

NSE market capitalisation appreciates by N27bn

The market capitalisation of the Nigerian Stock Exchange for the third consecutive day on Wednesday posted further growth increasing by N27bn. The News Agency of Nigeria reported that the market capitalisation rose by N27bn or 0.23 per cent to close ...

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Lagos Trade Fair, TBS concession process begins Q2 2021

Lagos Trade Fair, TBS concession process begins Q2 2021

The process for the concession of the Lagos International Trade Fair Complex and the Tafawa Balewa Square is expected to commence in the second quarter of the year. Also, the Bureau of Public Enterprises on Tuesday explained that the Federal ...

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FG plans N493.4bn revenue from national assets’ sale

FG plans N493.4bn revenue from national assets’ sale

The Federal Government plans to earn a total of N493.4bn from the sale or concession of about 36 of its assets across the country. Some the assets up for sale or concession include the country’s refineries, the International Conference Centre ...

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Investors lose N130bn as 30 stocks slump

Investors lose N130bn as 30 stocks slump

Investors in the nation’s stock market lost N130bn on Thursday as 30 firms saw their share prices decline at the end of trading. The Nigerian Stock Exchange All-Share Index fell by 0.63 per cent to 40,212.19 basis points from 40,465.32bps ...

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Banks cut borrowings from CBN over excess liquidity

CBN, SEC anchor cryptocurrency ban on financial system protection

Deposit Money Banks have continued to reduce their borrowings from the Central Bank of Nigeria. The CBN attributed this new development to excess liquidity in the system. Banks borrowed N15.95bn from the CBN in the Standing Lending Facility window in ...

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External reserves down by $565m in two weeks

External reserves down by $565m in two weeks

The country’s external reserves dipped by $565m from $36.198bn as of February 1, to $35.633bn as of February 15, latest figures from the Central Bank of Nigeria revealed on Wednesday. The reserves which had gained in recent weeks started a ...

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Use of cryptocurrencies, a concern – IMF

Use of cryptocurrencies, a concern – IMF

The International Monetary Fund has called for caution in the use of cryptocurrencies, describing it as a concern. It disclosed this during a virtual briefing on the recently published 2020 Article IV IMF Staff Report for Nigeria. The Resident Representative ...

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Stock market sheds N40bn as 20 firms record losses

Stock market sheds N40bn as 20 firms record losses

The nation’s stock market finished lower on Tuesday as 20 firms saw their share prices decline at the end of trading. The Nigerian Stock Exchange All-Share Index fell by 0.19 per cent to close at 40,494.35 basis points from 40,571.67bps ...

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CBN’s fight against inflation failing, say economic experts

CBN’s fight against inflation failing, say economic experts

Economic analysts on Tuesday said the continued rise in the rate of inflation across the country showed that the fight against inflation by the Central Bank of Nigeria was failing. Experts in firms such as the Financial Derivatives Company Limited ...

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Naira gains slightly, exchanges for 473/$

Naira gains slightly, exchanges for 473/$

The naira on Monday exchanged at  473/$ at the parallel market, after trading at  477 the previous week. At the Investors & Exporters forex window, the naira hit a high of  422/$ before closing at  390/$. The Central Bank of ...

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Senate confirms Kuru, Hasan as AMCON, NDIC MDs

Senate confirms Kuru, Hasan as AMCON, NDIC MDs

The Senate on Wednesday confirmed Mr Ahmed  Kuru; and Bello Hassan as managing directors of the Asset Management Corporation of Nigerian; and Nigeria Deposit Insurance Corporation, respectively. The confirmation of both nominees followed consideration of two separate reports of the ...

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CBN sticks to unpopular option on digital currency

CBN sticks to unpopular option on digital currency

• Banks disable platforms, track accounts • Investors offload assets • ‘Stay ahead of innovation, don’t stifle it’ • Moghalu knocks CBN over ‘knee-jerk’ approach • Directive good for anti-money laundering war, says Gwadabe Exchanges and investors in cryptocurrencies have ...

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2.85 million farmers benefitted from anchor borrowers programme – CBN

2.85 million farmers benefitted from anchor borrowers programme – CBN

About 2.85 million farmers benefitted from the Anchor Borrowers Programme from the inception of the scheme to the end of 2020. According to figures obtained from the Central Bank of Nigeria on Monday, N554.63bn had been disbursed, of which N61.02bn ...

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Cryptocurrencies breed illegal activities, raise risks – CBN

Cryptocurrencies breed illegal activities, raise risks – CBN

The Central Bank of Nigeria has said cryptocurrencies promote illegal activities and raise risks, among other reasons. It said this on Sunday in a statement regarding various comments and reactions following its recent reminder to Deposit Money Banks to desist from transacting ...

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BEARS: ‘Infamous conduct’

BEARS: 'Infamous conduct'

A former Attorney General of Cross River, Joseph Abang, has been removed from all roll of legal practitioners in the country by the Legal Practitioners Disciplinary Committee (LPDC). The legal body gave the order after findings revealed that the former ...

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Investors lose N110bn as stock market extends decline

Investors lose N130bn as 30 stocks slump

Investors in the equities market lost N110bn on Thursday as 25 firms saw their share prices drop at the end of trading on the floor of the Nigerian Stock Exchange. The market fell for the fourth straight trading session as ...

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Review export proceeds policy, LCCI tells CBN

Review export proceeds policy, LCCI tells CBN

The Lagos Chamber of Commerce and Industry has said there is a need for the Central Bank of Nigeria to review its policy on the repatriation of export proceeds in order to encourage exports. The chamber also called for the ...

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Lagos govt to phase out yellow buses

Lagos govt to phase out yellow buses

The Lagos State Government says it plans to phase out yellow buses in accordance with its transportation masterplan of the state. Commissioner for Transportation, Dr Frederic Oladeinde, said this in a virtual forum on Thursday, adding that the busses would ...

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Poor Nigerians’ll increase by 15 million soon – World Bank

Poor Nigerians’ll increase by 15 million soon – World Bank

Nigeria needs to implement key reforms in order to get the economy out of the current doldrums and achieve sustainable inclusive growth, the World Bank and the Chairman of the Presidential Economic Advisory Council, Dr Doyin Salami, have said. They ...

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