Author: topnews

FBN Money Market Fund gets ‘Aa-(f)’ rating from Agusto

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The FBN Money Market Fund has been given an ‘Aa-(f)’ rating by Agusto & Co. It said the rating assigned to the fund reflected its minimal to low exposure to downside risk (impairment to the net asset value) in the medium term, and would expire on November 30, 2019. According to a statement by the rating organisation, the FBN MMF has maintained low exposure to credit risk by investing in good quality assets with minimum credit rating of ‘Bbb’ in local currency. The statement said the fund had also kept…

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New drug suggests possibility of age reversal

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According to a new study, a drug that helps the immune system clear away old cells could restore youthfulness. The research suggests it may be possible to reverse the ageing process and could potentially pave the way for anti-ageing treatments that actually work. Researchers at the Weizmann Institute of Science in Israel investigated the way the immune system is involved in clearing away old, senescent (or, ageing) cells that are not completely dead but are irreparably damaged and barely functioning. Within weeks, those who received the team’s new drug had…

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INEC to deploy manual transmission of results in 2019 elections

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In line with the existing electoral act 2010 (as amended), there would be manual transmission of results in this year’s elections, this was made known by the National Commissioner in charge of Operations, Okechukwu Evans of (INEC) yesterday. He stated this while presenting the 2019 general elections guidelines yesterday in Abuja, adding that it is empowered by extant laws to use the smart card reader technology for accreditation during the forthcoming polls. It said it has residual powers under the 2010 Electoral Act (as amended) to adopt any accreditation and…

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Three journalists shot at APC rally in Lagos

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A rally organised for the governorship candidate of the All Progressives Congress in Lagos, Babajide Sanwo-Olu, went bloody as three journalists we’re shot. The rally was held at Skypower field, Ikeja, Lagos. Among those that were hit by the gun was the group political editor of Nation newspaper, Emmanuel Oladesu, NewsTelegraph correspondent, Temitope Ogunbanke, Ibile Television cameraman, Abiodun Yusuf, among others. A number of persons were also injured, robbed and beaten at the rally. Trouble started at about 1:30 pm when Lagos governor, Akinwunmi Ambode was delivering his speech. Suspected…

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Union Bank gives Succor to the Underprivileged

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Union Bank, through its UnionCares initiative, provided relief for thousands of the underprivileged by donating over 6,000 care bags containing staple food items. The campaign, now in its third year, is co-funded by Union Bank and its employees. The bags containing nutritional staples included rice, beans, oil, salt and readymade stews. In various parts of the country, the Bank’s employees were seen handing out the bags to people in underserved communities. The Bank also made financial donations to over 30 orphanages, care homes and NGOs including Wesley Schools for the…

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$1 Trillion Is Leaving Britain Because of Brexit

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Brexit hasn’t happened yet but it’s already shrinking the United Kingdom’s financial services industry. Banks and other financial companies have shifted at least £800 billion ($1 trillion) worth of assets out of the country and into the European Union because of Brexit, EY said in a report published Monday. Many banks have set up new offices elsewhere in the European Union to safeguard their regional operations after Brexit, which means they also have to move substantial assets there to satisfy EU regulators. Other firms are moving assets to protect clients…

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FIRS Breaks All-time Record, Generates N5.3trn In One Year

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Federal Inland Revenue Service (FIRS) has broken Nigeria’s all-time revenue generation record, after generating N5.3 trillion in 2018. In Nigeria, FIRS highest revenue generation was previously recorded in 2012, when the agency generated N5.07 trillion. Tunde Fowler, FIRS chairman, who announced the 2018 record said the cost of collection as a percentage of actual taxes collected has been reducing, as the government is generating more at a time when oil prices are low. “While we have been steadily increasing revenue collection over the years, our cost of collection has actually…

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78- year-old woman raped by bus driver in Lagos

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41-year-old commercial bus driver, Jelili Lawal, has been arrested by the operatives of the Lagos State Police Command for allegedly raping a 78-year-old woman in the Adeniyi Jones area of Ikeja, Lagos State. The septuagenarian, who was going to her place of residence in the Ketu area of Lagos, was said to have missed her way before Lawal offered her a lift to her destination. The Lagos State Commissioner of Police, Edgal Imohimi, said at a press briefing on Monday that the woman, who was delighted at Lawal’s offer, never…

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Customs impound Dangote truck over suspected smuggled rice

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The Nigeria Customs Service, Adamawa-Taraba Area Command, has impounded a truck belonging to the Dangote Group, which was caught with 150 bags of suspected smuggled rice along the Mayo-Belwa-Yola Road. The Area Controller, Adamawa-Taraba Command, NCS, Kamardeen Olumoh, while making the disclosure in Yola on Friday, said the driver, who is on the run, had been declared wanted for criminal prosecution. He said the truck driver evaded arrest, adding that the service was soliciting the cooperation of his employers, the Dangote Group, to hand him over for prosecution. Olumoh also…

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Women leader allegedly kills man in Rivers for pasting APC campaign posters

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A middle- aged man, Chimezie Dike, was allegedly stabbed to death by an All Progressives Congress (APC) Women Leader in Rivers State and her son, for placing campaign posters in their neigbourhood. It was learnt that the posters bore the image of APC candidate, Collins Owondah, who is contesting the PHALGA Constituency II in the House of Representatives. It was also learnt that the suspects attacked the victim because their preferred candidate lost to him (Owondah) during the party’s primary election for the slot. An eyewitness said that there was…

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