- FIRS Shuts More Firms for Tax Default
The Federal Inland Revenue Service on Friday continued its crackdown on tax-defaulting companies in Abuja.
The FIRS enforcement team, led by Zubairu Usman, sealed off the offices of Dayak Nigeria Limited, located at Idu Industrial Layout in Area One part of the city, according to a statement.
The company allegedly has a Value Added Tax liability of N41,535,829.47 owed between 2013 and 2016.
However, R.T Communications, with an alleged tax liability of N106,408,475.00, could not be located at its registered address.
Ceezali Limited, located at Thaba Tseka Street, which was thought to owe N14,603,941.00, presented evidence of payment and was not sealed.
Earlier in the week, the FIRS had shut Ace Products and Services Limited located at 20, Sanni Ashimu Close, Ologun Bus stop, Awoyaya, Lagos, over an alleged tax debt of N157.562m.
On Tuesday, the team sealed off Finchglow Travels Agency at 25, Ademola Street, Ikoyi, Lagos, over an alleged tax debt of N30.553m. Other firms sealed include Westcom Technologies at 18 A, Onikepo Akande Street, Lekki Phase I, Lagos, which reportedly owed N25.978m; and Globasure Technologies Limited at Plot 10B2, Lekki Phase I, Lagos, which was also said to owe N34.572m in tax debt.
On Monday, four companies in Lagos and Port Harcourt were shut over their alleged failure to meet their tax obligations totalling N630m.
The affected firms include Charcoal and Spices Restaurant Limited, GRA, Port Harcourt; and Cioscon Nigerian Limited of 14 Aba Road, Port Harcourt.
The leader of the FIRS enforcement team, Mrs. Anita Erinne, sealed both companies after showing a warrant to officials of the firms.
Charcoal and Spices Restaurant Limited allegedly owed N12,388,979.50, while Cioscon Nigerian Limited was said to have a tax liability of N479,203,464.43 from 2014 to 2016, which it had allegedly failed to remit.
Erinne told the defaulting firms that their premises would be unsealed when they cleared their outstanding tax bills.
BUA, Kainos Exploration to Drag Each Other to Court Over $20 Million Scandal
BUA Group on Monday threatened to drag Mr James Onyejekwe, the Managing Director of Kainos Exploration to court over a publication that claimed the Group was involved in a $20 million scandal.
BUA stated in a statement issued on Monday.
It stated that the publication engineered by Mr Onyejekwe was a “clear intent to impugn the integrity and reputation of BUA Group and its Chairman, Mr Abdul Samad Rabiu.”
“BUA takes its reputation seriously and we will continue to do everything to protect it from anyone and any entity who obstructs our mandate to conduct business in a proper, legal and socially-responsible manner.
“BUA will, therefore, utilise its legal and human resources to resist every campaign of defamation and distraction,” the statement further said.
The leading cement manufacturing company said its independent investigation showed Mr. Onyejekwe was behind the false story that went viral online.
“We have, therefore, instructed our legal team to immediately commence criminal defamation proceedings against the person of Mr James Onyejekwe who is the said originator of the malicious letter fraudulently attributed to Cavendish Petroleum against our person, with damages,” the statement seen by Investors King noted.
BUA explained that “We deem these actions necessary, in order to protect the name and reputation of BUA Group.”
“We see no reason why Mr James Onyejekwe of Kainos Exploration and Processing would single out BUA in a supposed business dispute which had no link to the BUA Group in its entirety.
“Therefore, BUA finds it absurd that Mr Onyejekwe or anyone else will decide to drag BUA into their issues and/or put out such a malicious and defamatory statement, fraudulently using the name of Cavendish/Mr Mai Deribe without recourse to the truth, facts, decorum or decency,” it added.
BUA Group described the story bordering on allegations of corruption as “false, malicious and spurious.”
Dangote Cement Emerges Best Performing Firm In Africa
The Kogi State Chamber of Commerce, Industry, Mines and Agriculture (KOCCIMA) has named the Dangote Cement Plc, Obajana Plant, as the best performing company in Africa.
The award was presented to the company in Lokoja at the weekend by the Deputy Governor of Kogi State, Chief Edward Onoja, who represented the State Governor, Alhaji Yahyah Adoza Bello, at the Annual General Meeting(AGM) of KOCCIMA.
Speaking at the occasion, the President of KOCCIMA, Mr. Victor Ibrahim, said the Dangote Cement emerged through a thorough screening process that involved 20 companies.
He said: “Our screening committee considered many criteria before Dangote Cement Plc was selected”.
According to him, the Chamber put into consideration Dangote Cement’s contributions to the state’s economy through Internally Generated Revenue(IGR), as well as its good relationship with KOCCIMA.
Mr. Ibrahim said another criterion that placed the Dangote Cement in good stead is that the company has been environmentally friendly.
“We’ve visited DCP Obajana Plant and we found it complying with global best practices when it comes to the environment. Your parking lot does not constitute any environmental danger. We also considered returns to investors, the welfare of staff, the 43km Obajana-Kabba concrete road, your good relationship with the host community and your positive image”.
He announced that the Chamber of Commerce was planning to host its Trade Fair by year-end and looking forward to collaborating with the Dangote Cement Plc.
The Deputy Governor Mr. Edward Onoja expressed the appreciation of the Kogi State Government, saying the contributions of KOCCIMA and the private sector were crucial to the development of the state.
Speaking to newsmen on the sideline of the event, representative of the Dangote Cement Plc Mr. Ademola Adeyemi said the company was elated and that the award will further spur it to continue its support to the state’s economy, KOCCIMA and Corporate Social Responsibility schemes.
MTN Appoints Chika Ekeji as Executive Lead for Strategy and Transformation
MTN Appoints Chika Ekeji, A Nigerian-American as Executive Lead for Strategy and Transformation
MTN Group has announced the appointment of Chika Ekeji, a Nigerian-American national as an executive to lead the strategy and transformation unit of the mobile network operator.
Chika has a Master of Engineering in Computer Science from Cornell University and an MBA from MIT.
He will be leaving from McKinsey & Company, where he led the West Africa Digital Practice and served telco, financial services, and public sector clients across Africa.
His appointment with Africa’s leading mobile operator will be effective on, 15th of March. In his new role, he will be based in SA.
“We are very pleased that Chika is joining us as we work to accelerate our strategic repositioning,” says MTN Group chief operating officer Jens Schulte-Bockum.
To support the execution of the repositioned strategy, Ekeji joins a group of other recent appointees, including the new group chief financial officer, Tsholofelo Molefe.
In recent weeks, MTN also made changes to the group’s regional structure and the executive committee.
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