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British billionaire Ratcliffe’s indicates interest in buying Man United

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By Francesca Iwambe

British billionaire Jim Ratcliffe’s Ineos company officially joined the race to buy Manchester United.

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United’s owners, the Glazer family, said they were willing to listen to offers for the Premier League club in November and Ratcliffe is keen to strike a deal.

Boyhood United fan Ratcliffe, who made an unsuccessful £4.25 billion ($5.2 billion) bid to buy Chelsea last year, has long been linked with the Old Trafford outfit.

“I can confirm that we have formally put ourselves into the process,” an Ineos spokesman told AFP.

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After failing with his Chelsea takeover when Roman Abramovich sold the Blues to American tycoon Todd Boehly and his consortium, Ratcliffe is back in the hunt for a Premier League giant.

United have yet to comment on the news of the 70-year-old’s interest in taking over from the United States-based Glazers.

But, born in Failsworth, Greater Manchester, Ratcliffe is one of Britain’s richest men and might be more palatable to the United support than the Glazers, who have experienced numerous fan protests during their troubled reign.

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The Glazers, who completed a leveraged takeover of the club in 2005, have proved deeply unpopular with supporters due to the team’s declining fortunes on the pitch in recent years.

Their purchase of United also saddled the club with huge debts and they have long been accused of taking more out financially than they have invested in terms of transfer funds.

The Glazers further angered United fans by backing the failed European Super League project in April 2021 which would have led to the club joining a breakaway competition.

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A statement from United in November said the board will “consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company”.

United have not won the Premier League since 2013 and their last major trophy came six years ago.

After a dismal sixth-place finish in the Premier League last season, United have been revitalised by boss Erik ten Hag and sit fourth in the table after beating arch rivals Manchester City 2-1 on Saturday.

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JUST IN: IMF ask CBN to extend Feb 10 deadline for old naira notes

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By Francesca Iwambe

The International Monetary Fund (IMF) has advised the Central Bank of Nigeria (CBN) to extend the February 10 deadline for the use of old naira notes if the difficulties in getting new notes persist.

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According to the IMF, the call become necessary as the development had led to the disruptions to trade and payments due to the shortage of new noted in the bank.

The call was contained in a statement made available to journalists on Wednesday.

“In light of hardships caused by disruptions to trade and payments due to the shortage of new bank notes available to the public, in spite of measures introduced by the CBN to mitigate the challenges in the banknote swap process, the IMF encourages the CBN to consider extending the deadline, should problems persist in the next few days leading up to the February 10, 2023 deadline,” the statement reads.

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BREAKING: Supreme Court suspends February 10 deadline for naira swap

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By Francesca Iwambe, Abuja

The Supreme Court of Nigeria has restrained the Central Bank of Nigeria (CBN) and Federal Government from ending the legal tender statuses of old N200, N500 and N1000 banknotes on February 10, 2023.

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The apex court made the order following the suit filed by three State governments challenging the Naira swap policy.

Recall that governments of Kaduna, Zamfara and Kogi States had approached the Supreme Court seeking an order to stop the policy.

Naijablitznews.com will bring you more details shortly

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CBN captures more Communities as currency swap is continuous in Taraba

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Emmanuel Awari-Jalingo

The Central Bank of Nigeria (CBN), on Friday extend her currency swap exercise to more Communities of Yorro, Ardo-Kola and Ibi local government areas of Taraba state.

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The Director Financial System Strategy, Central Bank of Nigeria, Ibrahim Hassan who disclosed this to our correspondent in Jalingo said, the development was in continuation of the CBN initiative targeted at ensuring that all rural dwellers in Taraba have their old naira notes swapped to new ones or deposited in banks before the extended CBN deadline for currency swap.

Hassan noted that the currency Swap Initiative was to help save communities who do not have access to bank, swap their old naira notes to the new notes.

“Just as we have been doing to ensure that people in the rural Communities of Taraba who do not have access to Bank have their old naira notes swap to new ones. CBN delegation have been drafted to more Communities of Yorro, Ardo-Kola and Ibi local to ensure success of the initiative.

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“CBN delegation for Yorro is led by Mr Jackson Imandi, the Deputy Director, the one Ardo-Kola is led by Mr. Kazeem Olatinmu while the one in Ibi local government is been led by the CBN Head of Banking Services in Taraba State, Hayatu Yahaya Shehu to ensure the villagers gain advantage of the Ten days extension for the currency swap” Hassan explained.

When contacted, the chief of Mumuye in Yorro local government, Ado Adamu Manang, that of Ibi, Abubakar Salihu Danbaw and some beneficiary of the exercise in Ardo-Kola local government, Mohammed Musa, Hafsatu Babangida and Isa Mahmud, commended the central Bank of Nigeria for the exercise as it was the best for villagers and promised to help create massive awareness for people to swap their old naira notes to the new ones.

According to them, businesses were already collapsing as people were no longer accepting the old naira notes even before the extended window.

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