Business

Manchester United confirm Varane agreement with defender set for £41m Old Trafford switch

  Manchester United have confirmed an agreement with Real Madrid for the signing of Raphael Varane. The 28-year-old centre-back will become Ole Gunnar Solskjaer’s second major signing of the summer after the arrival of Jadon Sancho earlier in the month.   The two clubs agreed a fee, understood to be £34million ($47m) plus add ons, on Monday and the deal is now ...

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CBN Bans Sale Of Forex To Bureau De Changes Operators

The Central Bank of Nigeria says it has ended the sales of forex to Bureau De Change operators, saying the parallel market has become a conduit for illicit forex flows and graft. The bank said it will also no longer process applications for BDC licences in the country. Weekly sales of foreign exchange by the CBN will henceforth go directly ...

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Jadon Sancho completes £73m move to Manchester United

  Manchester United have completed the signing of Jadon Sancho from Borussia Dortmund for a fee of £73 million ($101m). The England international, who was part of the Three Lions squad that finished runners-up at Euro 2020, becomes Ole Gunnar Solskjaer’s first signing of the summer after he successfully completed a medical and agreed personal terms to join the Red Devils. And ...

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Wasiu Ayinde Opens Mayegun Resort In Ijebu Ode

Popular fuji musician Wasiu Ayinde, a.k.a K1 has opened a Resort Centre in his hometown, Ijebu Ode, Ogun State. The music legend opened the resort on Wednesday, 21 July, according to a statement by his media aide, Kunle Rasheed. The resort is named Mayegun Royal Resort. K1 was spotted at the resort during the opening as he conducted guests on a ...

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Obiang Son Of E/Guinea Leader Buys Michael Jackson’s Glove For N113M

  Teodoro Obiang Mangue, son of Equatorial Guinea long serving president, has no inhibitions splashing the cash as he did when he bought a glove worn by Michael Jackson at $275,000, about N113M. Britain is exasperated by his excesses and on Thursday sanctioned him for misappropriating millions of dollars which London said was spent on luxury mansions and private jets. ...

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Bitcoin Slips Below $30,000 Again; Around $90bn Wiped Off Entire Cryptocurrency Market

Bitcoin dropped below the $30,000-mark for the first time since June 22, wiping around $90 billion from the entire cryptocurrency market in 24 hours on Tuesday, according to data from CoinMarketCap.com. Other leading coins were also dragged down. Ethereum declined from $1,824 to $1,730, while Binance Coin dropped from $299 to $261, and XRP declined from 58 cents to 52 ...

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FCMB appoints Yemisi Edun as new MD

The Board of Directors of First City Monument Bank (FCMB) have appointed Yemisi Edun as the Managing Director of First City Monument Bank. This comes after the end of the bank’s former Managing Director, Adam Nuru.  The board had reviewed the media allegation made against the former MD and concluded that it did not violate any of its policies. The Board of ...

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Chelsea Billionaire Owner, Roman Abramovich ‘Releases Funds For The Club To Sign Erling Haaland For £150m

Roman Abramovich has handed Chelsea the funds to go and get Borussia Dortmund star striker Erling Haaland this summer for £150million, according to reports. The 20-year-old striker is expected to be chased by several of Europe’s elite this summer, with Sportsmail revealing in March that the Blues are one of three European sides interested in the forward along with Manchester ...

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PSG sign Hakimi from Inter in a €70m deal

  Paris Saint-Germain have completed the signing of Inter full-back Achraf Hakimi.   The Morocco international will cost in the region of €60 million (£52m/$71m), plus €10m (£9m$12m) in add-ons, and he leaves the Serie A champions after just one season playing in Italy’s top flight.   The transfer comes as a significant blow for Inter, with Hakimi considered to be ...

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Kim Kardashian’s Skims named official Olympic loungewear for Team USA

  American reality star and business mogul, Kim Kardashian had announced that her Skims company is the official loungewear for Team USA at Tokyo Olympic in Japan. The 40-year-old entrepreneur, revealed on Monday June 28, that her brand has been made Team USA’s official loungewear for Tokyo Olympics in Japan. Her company would be designing the official undergarments, pajamas, and ...

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Nigeria moves to sell electricity to four West African countries

Nigeria is in talks with four West African countries expected to buy unused electricity from it. The acting Managing Director of the Transmission Company of Nigeria (TCN) and Chairman, Executive Board of the West African Power Pool (WAPP), Engr. Sule Ahmed Abdulaziz, stated this on Wednesday during the WAPP meeting on the Northcore project in Abuja. According to Daily Trust, ...

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Twitter starts collection of money from users

Twitter announced on Thursday the launch of its first subscription service, dubbed Twitter Blue, designed for users willing to pay a monthly fee for exclusive features. The company said Twitter Blue will be available to users in Canada and Australia respectively for $3.49 and $4.49 in local currencies per month. The company did not disclose when the service will become ...

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Nigerian firm completes acquisition of Shoprite

Ketron Investment Limited, a Nigerian company owned by a group of local investors led by property firm Persianas Investment Ltd, has completed the acquisition of Shoprite Holdings Limited. With the acquisition, Shoprite, Africa’s largest food retailer, has completed exiting the Nigerian market 16 years after it opened its first outlet. Ketron in a statement said Shoprite is changing its strategy ...

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Naira crashes to almost N500 to US dollar

The Nigerian Naira has suffered two consecutive days of melt down in the unofficial market as it tumbles by about N17 for each dollar. The market had some semblance of stability for weeks, selling and buying at between N480-485. But the long suffering Nigerian currency moved south wards after the Central Bank published on Monday night a devalued rate for ...

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Traders continue to urge FG to remove stockfish from forex ban list

The Nigerian Stockfish Dealers Association has raised an alarm over the growing challenges faced in the stockfish business in the country. The chairman of the association, Gregory Ilobinso, spoke with the News Agency of Nigeria (NAN) on Monday in Lagos on the current problems plaguing the trade. Mr Ilobinso noted that earlier in the year, an appeal was made to ...

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Messi’s record-breaking boots bought for £125,000

Lionel Messi’s boots which scored him his one-club record-breaking goal have been bought for £125,000 at an auction. The Barcelona captain scored his 644th goal for the club in last year’s December 3-0 win over Real Valladolid. The goal broke past record by Pele, who had netted 643 times for Santos, and set Messi as the player to have scored ...

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Amazon to open African headquarters in South Africa

Amazon, a United States multinational technology company, has chosen South Africa as the headquarters for its African market. This development comes a week after Twitter, US-based microblogging and social networking service announced the opening of its first-ever African office in Ghana. Similarly, the German government said a new German-West African Centre for Global Health and Pandemic Prevention will be located ...

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Buyer of Shoprite business in Nigeria revealed

A Nigerian property company, Persianas has been revealed as the buyer of Shoprite’s local business in Nigeria. Shoprite, with more than 2,300 stores across Africa, is awaiting regulatory approval on the sale of its Nigerian supermarket operation, though no further details have been disclosed. Banking sources told Reuters that Persianas Properties emerged as the buyer after a bidding process and ...

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Turkey bans use of cryptocurrencies citing risks

Bitcoin tumbled more than 4% on Friday after Turkey’s central bank banned the use of cryptocurrencies and crypto assets for purchases citing possible “irreparable” damage and transaction risks. In legislation published in the Official Gazette, the central bank said cryptocurrencies and other such digital assets based on distributed ledger technology could not be used, directly or indirectly, to pay for ...

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Burger King to open in Nigeria amid economic woes

  American fast food retail chain, Burger King, is expected to start its operations in Nigeria by the fourth quarter of 2021. Nairametrics reported an exclusive interview with Antoine Zammarieh, Burger King’s franchisee in Nigeria and Managing Director, Allied Food & Confectionery Services Limited. “Burger King will start operations by Autumn, i.e. between September and November 2021. We have set ...

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FUTO gets new female Vice Chancellor

The Governing Council of the Federal University of Technology, Owerri (FUTO) has elected Prof Nnenna Oti as the new Vice Chancellor of the institution. She succeeds the outgoing vice chancellor, Prof. Francis Eze. Prof. Oti was the deputy Vice Chancellor, Academic until her new appointment. She emerged top with 75.5 points to beat six other candidates. Her closest rival was ...

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