By Ayomide Otitoju President Bola Tinubu has directed the Federal Ministry of Justice and the National Assembly to address issues raised regarding the Tax Reform Bills currently under legislative review. The bills, which aim to overhaul Nigeria’s tax system, have sparked significant criticism, particularly from northern governors and stakeholders who claim they could exacerbate poverty…
By Ayomide Otitoju Zenith Bank Plc has clinched the prestigious ‘Bank of the Year, Nigeria’ title at the 2024 Banker’s Bank of the Year Awards, organized by The Banker Magazine, a publication of the Financial Times Group, UK. The award ceremony, held in London on December 4, 2024, honored the bank’s robust management, sound business…
A Vietnamese court has upheld the death sentence for property magnate Truong My Lan, convicted in a multi-billion dollar fraud case that shook the nation’s financial sector. The decision, delivered Tuesday by the Ho Chi Minh City court, found “no basis” to reduce the penalty for the 68-year-old founder of Van Thinh Phat Group. Lan…
By Ayomide Otitoju Former Anambra State Governor Peter Obi has called on the Bola Tinubu administration to conduct a national debate involving citizens before finalizing the contentious tax reform bills. Obi emphasized the importance of public engagement in ensuring inclusivity and trust in policymaking. Speaking on the matter, Obi acknowledged the critical nature of tax…
By Ayomide Otitoju The Economic and Financial Crimes Commission (EFCC) is set to arraign several individuals, including the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, and the current Managing Director of Arik Air, Captain Roy Ilegbodu, before the Special Offences Court in Ikeja, Lagos. The arraignment, scheduled for today,…
By Ayomide Otitoju The Economic and Financial Crimes Commission (EFCC) has announced its largest asset recovery to date, with the final forfeiture of an estate in Abuja measuring 150,500 square meters, containing 753 duplexes and other apartments. Justice Jude Onwuegbuzie delivered the ruling on December 2, 2024, marking this as the EFCC’s most significant recovery…
A U.S. judge has upheld her ruling to invalidate Elon Musk’s $55.8 billion compensation package at Tesla, denying the company’s attempt to reinstate the deal through a shareholder vote. In a court filing Monday, Chancellor Kathaleen McCormick of Delaware’s Court of Chancery rejected Tesla’s effort to ratify the pay package during a June shareholder vote….
By Ayomide Otitoju The Office of the Auditor-General of the Federation (OAuGF) has received all necessary documentation to verify the Nigerian National Petroleum Company Limited’s (NNPCL) N2.7 trillion fuel subsidy claim against the Federal Government, The Trust Africa News reports. This marks a significant step in the forensic audit initiated in April 2024 by the…
By Ayomide Otitoju The Chairman of the Presidential Tax Reform Committee, Taiwo Oyedele, has called on Nigerians to focus on the transformative potential of the proposed Tax Reform Bills rather than allow minor controversies to hinder their passage. The bills, submitted to the National Assembly by President Bola Tinubu, have drawn criticism, particularly from prominent…
