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Chelsea owner Roman Abramovich agrees to sell stake in gold mine worth £1billion

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Chelsea owner Roman Abramovich agrees to sell stake in gold mine worth ?1billion

Russian billionaire and Chelsea owner, Roman Abramovich is set to get richer, as he has agreed to sell his gold mine in a deal said to be worth £1billion.

Abramovich, whose financial worth reduced this year due to the covid-19 pandemic, has agreed to sell his stake in Highland Gold Mining Ltd to Fortiana Holdings Ltd, according to Bloomberg.

The gold market is enjoying a resurgence amid the pandemic and the 53-year-old who is currently valued at around $12billion (£9m) by Forbes, will now sell his 40 per cent stake in Highland Gold, in which he was a shareholder for many years.

Fortiana Holdings Limited, a Cyprus-registered company of Russian businessman Vladislav Sviblov, agreed to buy 145,759,871 shares in Highland Gold from Abramovich and his partners at £3.00 per share.

Chelsea owner Roman Abramovich agrees to sell stake in gold mine worth ?1billion??????

Highland Gold is one of the top ten gold producers in Russia with several mines in Russia’s Far East.

The offer is expected to complete in the fourth quarter of 2020.

 Chelsea have won 16 trophies since Abramovich bought the club.

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Breaking: Bitcoin crosses $19,000 for the first time since December 2017

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The pioneer digital coin broke above the critical resistance of $19,000 for the first time in nearly three years. At the time of writing, BTC/USD is changing hands at $18,980. 

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Minimum wage earners should be exempted from paying income tax – FG

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The Federal Government, in an offer to additional pad the current financial conditions in the nation, has proposed in the new Finance Act that the individuals who procure the lowest pay permitted by law should be absolved from settling personal duty.

This was reported by President Buhari through the official Twitter handle of the Presidency.

The President unveiled that this new arrangement would supplement the tax reductions given to independent companies a year ago, to additionally invigorate the economy.

President Buhari, in the tweet string, clarified that the move was a satisfaction of the guarantees made to help diminish cost of transportation and the effect of swelling on normal Nigerians.

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it was accounted for that the Federal Government on Wednesday, November 18, 2020, affirmed the 2020 Finance Bill to help the 2021 spending plan.

While clarifying the substance of the bill, the Minister of Finance, Budget and National Planning, Mrs Zainab Shamsuna Ahmed, gave an affirmation that the bill would not prompt an expansion in expense, in light of the fact that the circumstance in the nation didn’t warrant an expansion in charges.

She said the plan was to facilitate the taxation rate on Nigerians and a few classifications of organizations, particularly the little and medium organizations.

The Minister revealed that the bill, which was intended to get steady changes the country’s duty laws, was viewed as basic to the execution of the 2021 spending plan, and would before long be sent to the public get together for thought.

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FG secures $72 million from World Bank for states to develop land information systems

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The Nigerian government has declared that it has made sure about the amount of $72 million from the World Bank for the 36 conditions of the league to build up a land data framework.

As per Punch, this was unveiled on Monday at the Geoinformation Society of Nigeria 2020 Annual Conference in Abuja by Ogbonnaya Onu, Minister of Science and Technology, who was spoken to by the Acting Director-General, National Space Research and Development Agency, Francis Chizea.

“The use of data innovation is the fundamental driver of the ongoing World Bank space attributes and duty program moored by the Federal Ministry of Finance, Budget, and National Planning.

“This program made sure about $2m each for all the 36 conditions of the organization to create states land data framework pointed toward social occasion improved essential information,” he said.

He additionally added that the plan is required to make 50,000 positions cross country.

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This comes after Nigeria as of late declared that it would look for a World Bank credit of $750 million to help battle the impacts

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