Business

Saudi Crown Prince wants to buy Manchester United

Saudi Crown Prince, Mohammad bin Salman, wants to buy Manchester United, and has reportedly made a £3.8 billion takeover bid. This comes after United chiefs were last year seen spending an increasing amount of time in Saudi Arabia over the proposed takeover bid Although the American owners of the Old Trafford club have not indicated their interest to sell Manchester United, ...

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Details Of Newly Extended Contract Between NIKE And Super Eagles Revealed.

  Barrister Solomon Dalung has commended sportswear manufacturing giants NIKE for including women in the bonuses scheme in their newly extended 4-year contract signed with the Nigeria Football Federation in November 2018.   The Minister of Youth and Sports gave the commendation at the NIKE UK office in London where he, alongside the NFF President Mr Amaju Pinnick and 2nd ...

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Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lagos. Photos/Video

    Reports have it that Dangote refinery has taken delivery of a gigantic distillation component.   It is learnt that the component is one of the biggest in the world as the refinery is billed to start producing PMS and allied products later this year. The engineers received the distillation component, which has attracted attention from Lagosians in Ibeju-Lekki ...

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Access Bank acquires Diamond Bank

Access Bank has acquired Diamond Bank as confirmed by Cableng, who alleged that the official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria (CBN).   This came after Diamond Bank announced its decision to drop its international operating licence, to focus on national operations following capitalisation issues. Sources alleged that the acquisition ...

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World’s Oldest Billionaire, 100, Reveals He Still Goes To The Office Every Day.

  The world’s oldest billionaire has revealed he still goes into the office every day despite his advancing years. Chang Yun Chung, founder of Singaporean shipping company Pacific International Lines (PIL), handed over control of the company to his son earlier this year.   But that hasn’t stopped him making daily appearances at the office to check everything is running ...

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Businessman Shows Off His Range Rover Vogue Rotating In His Parlour. Photos/Video

  Nigerian billionaire businessman and record label owner, Okwudili Umenyiora is in the news again after showing off 2018 Range Rover Vogue, parked and rotating in his living room in his mansion in Lagos.   Mr. Dilly, Chairman of ‘Dilly Motors’, who reportedly owns one of the most expensive mansions in Nigeria – is known for flaunting his luxury vehicles in ...

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Meet 8 Nigerians that made 2019 Forbes 30 under 30 nomination list

  Eight Nigerians have made the 2019 Forbes 30 under 30 nomination list. Forbes 30 under 30 is a set of lists issued annually by Forbes magazine and some of its regional editions to recognise business and industry figures. 300 trailblazers from 20 industries with an average age of 26 made the list. Over 55 per cent of them are founders or co-founders. Nigerians ...

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Diamond bank denies Access Bank acquisition rumours

  PUBLICATION ON NEWS MEDIA: PURPORTED TALKS FOR ACCESS BANK PLC TO ACQUIRE DIAMOND BANK PLC The attention of Diamond Bank Plc (“the Bank”) has been drawn to the rumor in the media stating that the Bank is purportedly in discussions with Access Bank Plc to acquire the Bank. We wish to state categorically that the Bank is not in ...

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Manchester City Could Face Sanctions As Club Owner Is Accused Of Cheating.

Sheik Mansour (centre) is accused of picking up the tab for inflated sponsorship deals   Manchester City have been accused of cheating after claims that their owner paid large parts of inflated sponsorship deals himself. According to a report by German newspaper Der Spiegel, based allegedly on more hacked documents from the Football Leaks whistle-blowers, City owner Sheik Mansour paid ...

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Governors Agree To Pay N22,500 As New Minimum Wage.

The Nigeria Governors’ Forum has agreed to pay the sum of N22, 500 as new minimum wage for workers, as against the existing N18,000. Chairman of the Forum and Zamfara State Governor, Abdul’Aziz Yari, disclosed this in a statement at the end of an emergency meeting of the governors held on Tuesday in Abuja. The decision was reached after a ...

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Canada is running out of marijuana barely two days after making it legal

Barely two days after becoming the first industrialised nation to legalise marijuana, Canadian stores are already running low on stock.   According to the Daily Mail, Canadians seeking out legal recreational marijuana on Thursday not only had to contend with long lines, but also supply shortages in the wake of the historic change. One man called Alexandre was apparently turned ...

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Saudi crown prince planning to splash over £3bn to buy Manchester United

Saudi Arabian crown prince, Mohammad bin Salman, who is worth £850billion is reportedly planning to .splash over £3bn to buy Manchester United.   Mohammad bin Salman, is said to be set to make a huge Middle East investment by splashing over £3bn to buy Manchester United football club. The 33-year-old who holds the second highest position in the Saudi government behind ...

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Bank PHB Was In Distress Before CBN Examination, Says Witness

Ayokunnunmi, who stood as a witness of the Economic and Financial Crimes Commission (EFCC), said this on Thursday during the criminal trial of Francis Atuche, Managing Director of defunct Bank PHB Plc, now Keystone Bank Plc.   Adeniji Ayokunnunmi, a retired Deputy Director, Banking Supervision Division of the Central Bank of Nigeria (CBN) has told the Federal High Court In ...

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FAO: Drought, Flood Cause Rise In Sugar Cost

The price index for sugar is 21 per cent lower than September 2017 estimates, but a 2.6 per cent rise occurred between August and September 2018.   The cost of sugar has climbed up by 2.6 per cent according to the Food Agriculture Organisation (FAO). The spike in prices is predicated on drought in the world’s largest sugar exporter — ...

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Google announces plan to shut down Google Plus after security breach

Google has announced its plan to shut down Google Plus, it social media platform, after it discovered a security vulnerability that exposed the private data of up to 500,000 users of the service. In a blogpost by Google on Monday, when the company’s technical staff discovered the bug in March, they decided against disclosing the issue to users because they hadn’t ...

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Ed Sheeran made £75k a day last year and over £27 million in profit, making him the richest solo artist in the world

English singer-songwriter, Ed Sheeran, made £75,000 a day last year and over £27 million in profit. In the list revealed by The Sun, the 27-year-old is now considered the richest solo artist in the world, surpassing Adele as the highest-earning musician on the planet who made £8.6 million profit in the last year and had over £41 million cash in the bank.   ...

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Man finds lottery ticket worth $1.75million in old coat

A man cleaning out a closet at his sister’s insistence received a shock when he found, in the lining of a jacket, a lottery ticket worth $1.75million purchased 10 months earlier in Montreal, Canada. The sisterly advice proved most profitable: The man, named as Gregorio De Santis, on Friday pocketed winnings of Can$1.75 million ($1.35 million). “When he went to have the ...

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Nigeria’s economy will cripple with a N50k minimum wage – APC stalwart

A second republic senator, Chief Olorunnimbe Farukanmi and stalwart of the ruling APC, yesterday said the N50,000 minimum wage would have dire consequences on Nigeria’s economy.   According to TheNation, the financial expert said labourers are entitled to their wages, but expressed the need for trade unions to consider and look at various sources of revenue accurable to their employers in ...

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Amusement parks in Abuja get low patronage on independence day – Report

Amusement Parks in Abuja, the Federal Capital Territory (FCT) yesterday recorded low patronage during the 2018 Independence Day Anniversary, the News Agency of Nigeria (NAN) reports. According to the report, Magicland Amusement Park, near the City Gate, few fun-seekers were in the park but most of the facilities were not in use due to lack of patronage.   A fun-seeker, Mr. Emeka ...

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Transportation minister, Amaechi orders Chinese company to employ Nigerian engineers (photos)

Nigeria’s Minister of Transportation, Rotimi Amaechi ordered the China Civil Engineering Construction Corporation (CCECC) to employ indigenous Engineer.   According to Israel Ibeleme, the media aide to the minister who shared the photos on Facebook, Amaechi said; “I am giving you till this weekend to employ six Nigerian engineers. Between the Ministry of Transportation and the Nigerian Railway Corporation (NRC), two ...

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Michael Kors buys Versace for $2.1bn, renames it Capri Holdings

American sportswear fashion designer, Michael David Kors has bought Italian luxury fashion brand Versace for $2.1bn including the debt of the company. According to BBC, creative director, Donatella Versace, who ran Versace since the 1997 murder of her brother Gianni, called the sale a “very exciting moment” and “allow Versace to reach its full potential”. In a statement by Michael Kors chief executive, John Idol, he ...

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Liberians demonstrate after new banknotes vanish into thin air

  Hundreds of Liberians took to the streets of the capital Monrovia Monday to demonstrate over the disappearance of newly printed bills worth nearly $100 million. The cash was officially destined for Liberia’s central bank after arriving in the country at an unspecified time between last November and August this year, but has vanished without trace. A crowd consisting mainly of youths, with ...

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Oil Prices May Reach $100 Per Barrel In 2019, Say Traders

  Oil prices have been projected to rise next year, according to projections by stakeholders in the sector. This is just as newly imposed sanctions on Iran by the US are expected to come into force early November. According to Reuters, oil traders, Trafigura and Mercuria, have projected a possible hike in Brent petroleum prices from its recent four-year peak ...

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