Monday, May 17African Business News
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Tag: MMF

Insurers woo Nigerians on investment culture through MMF

Insurers woo Nigerians on investment culture through MMF

Insurance
Despite the growth in savings and investment products, Nigeria still recorded low mobilisation for such products, research by FSDH has shown. The research said the ratio of gross national savings to the Gross Domestic Product (GDP) was one of the lowest among some countries in the world. For instance, mutual funds have recorded impressive growth in the last five years, but the ratio of mutual fund assets to the GDP is about 0.5 per cent. For this reason, underwriting companies are encouraging Nigerians to utilise its Money Market Fund (MMF), as a savings tool in navigating the current economic downturn intensified by the coronavirus pandemic. According to them, the Money Market Fund is a large pool of funds that investors can invest in, including T...