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
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CBN to mop up dormant account balances, unclaimed funds
The Central Bank of Nigeria has proposed that banks should transfer funds in accounts that have been dormant for…
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Global growth slows to 2% in 2023 – World Bank
The World Bank Group President, David Malpass says global growth is expected to be weak in 2023, slowing to two…
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Debt servicing rose by 115% in 2022 –DMO
Nigeria’s debt servicing bill went up by 115 per cent to N3.36trn in 2022, data from the Debt Management Office…
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Naira depreciated by 10% in 2022 – World Bank
The World Bank has revealed that the naira has suffered a record depreciation of 10.2 per cent in 2022. This,…
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3,000 Nigerians lost millionaire status in 10 years – Report
Nigeria, Africa’s largest economy, experienced negative millionaire growth of 30 per cent from 2012 to 2022, resulting in 2,949 individuals…
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Carbonated drink tax affected manufacturers in 2022 – MAN
The Manufacturers Association of Nigeria has said that a major setback that plagued the productive sector in 2022 was the…
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360% rise in public debt worrisome, says LCCI
The Lagos Chamber of Commerce and Industry has said that it was worried about the 360.4 per cent increase in…
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FG borrows $800m for mass transit, cash transfers
The Federal Government has secured $800m from the International Bank for Reconstruction and Development (World Bank) to provide post-petroleum…
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AfDB approves $525,000 grant for African fintech firms
The African Development Bank has approved a grant of $525,000 for an online digital hub to serve as a repository…
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FG approves 173 loan apps, bars illegal online banks
The Federal Competition and Consumer Protection Commission has approved 173 digital lending applications to operate in the country. Of…
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Chinese loans rise by 209% under Buhari, hit $4bn
Federal Government’s borrowing from China has grown by 209.15 per cent under the Major General Muhammadu Buhari (retd.) administration.…
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Delta, Akwa Ibom, Rivers lead as states share N9.3tn in three years
The 36 states in Nigeria shared a total of about N9.3tn as federal allocation between June 2019 and December…
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External reserves fall by $1.46bn in two months- CBN
The country’s external reserves fell by $1.46bn between January and March, figures obtained from the Central Bank of Nigeria…
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OPS predicts woes as national debt hits N46tn
The Debt Management Office, on Thursday, revealed that Nigeria’s total public debt stock increased to N46.25tn or $103.11bn in the…
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FG $22bn loan request rejected by Chinese bank – Reps
N’Assembly extends 2022 budget implementation to June The House of Representatives, on Tuesday, approved the request by the Federal Government…
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Stock market dips by 1.2% amid profit-taking
The Nigerian Exchange Limited on Tuesday witnessed a further drop in market indices by 1.2 per cent, amid sustained negative…
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Bank credit to govt hits N28.43tn
Banks’ credits to the government rose by N3.77tn in the first two months of 2023. Figures obtained from the Central…
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Mobile subscriptions rise to 226 million
Mobile subscriptions have risen by 4.61 million to hit 226.84 million in 2022, according to new industry statistics from the…
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Banks raise cash withdrawal limits to reduce queues
Deposit Money Banks are set to raise their cash withdrawal limits from the current N20,000-N50,000 range to over N80,000-N100,000, according…
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Women entrepreneurs suffer $42b financing gap in Africa, says Adesina
Women entrepreneurs across Africa have continued to suffer insufficient funds with an estimated $42b financing gap that has crippled…
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