Business

Sallah: CBN boosts supply with $240m

In the last trading day of the week and ahead of June 26 and 27 holiday declared by the Federal Government to commemorate the Eid-el-Fitr, the Central Bank of Nigeria (CBN) on Friday, June 23, allocated the total sum of $240 million to the Retail Secondary Market Intervention Sales (SMIS) for spot and forward deals. […]

Business

N2bn probe: EFCC storms Abuja estate

By Mayowa Okekale, As part of its ongoing investigations bordering on inappropriate land deals running into billions of Naira, operatives of the Economic Financial Crimes Commission (EFCC) have stormed an Abuja Estate, Winning Clause Limited (WCL). Some operatives of the anti-graft agency who were on a “search-visit” mission on Friday morning, inspected the vicinity of […]

Business

US bans fresh Brazil beef imports

The U.S. Department of Agriculture (USDA) halted imports of fresh beef from Brazil on Thursday over recurring safety concerns about the products. Since March, USDA officials increased testing to cover “100% of all meat products” coming from Brazil, and turned away 11% of the country’s fresh beef products, the USDA said in a statement. In […]

Business

Delta enters $20m oil palm production deal

The Delta Government has signed a $20 million Memorandum of Understanding (MoU) with Norsworthy Investment, a private firm, for the cultivation of 3,000 acres of oil palm and processing plant project. The project which would be sited at Akwukwu-Igbo in Oshimili North Local Government Area of the state, was signed in Asaba on Thursday by […]

Business

Clooney sells Tequila to Diageo for $1 Billion

Diageo Plc agreed to acquire fast-growing tequila brand Casamigos, co-founded four years ago by Clooney, for as much as $1 billion. The deal expands the London-based distiller’s lineup in a fast-growing category, where it already owns the Don Julio, DeLeon and Peligroso brands. The purchase will be Diageo’s biggest since its $3.2 billion acquisition of […]