Connect with us

Published

on

The Kogi State Internal Revenue Service (KGIRS) has sealed Dangote Cement factory in Obajana, Kogi State.

A staff confirmed the development to POLITICS NIGERIA on Wednesday afternoon, adding that, “in fact, I’m on my way home as we speak”.

 

This newspaper learnt that the KGIRS sealed the company over tax evasion and acquisition controversy.

 

The action was reportedly backed by the Kogi State House of Assembly.

 

Kingsley Fanwo, the Kogi State Commissioner for Information, was quoted as saying: “Pursuant to the Constitutional authorities of the Kogi State House of Assembly, and upon petition by the people of Kogi State, an investigation was carried out on the acquisition of Obajana Cement Company by Dangote Company.

“It was found that no valid acquisition took place, as Dangote could not show evidence of what was paid as consideration for the acquisition.

 

“The legislators invited the Chairman of the Company, Aliko Dangote, before the house for explanations but he failed to appear before the state assembly, giving excuses.

 

“The House of Assembly therefore ordered the closure of the company pending when they are able to present it with credible evidence of a valid acquisition.”

 

At 16.25Mta capacity across five lines, Dangote’s cement factory at Obajana is the largest of its three factories in Nigeria.tories in Nigeria.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Breaking: PDP induces people to impersonate political parties, plans press conference.

Published

on

Concerned citizens in Ogun state on Friday raised an alarm over the inducement of some buyable politicians by PDP governorship candidate, Hon. Ladi Adebutu.

 

The insider source revealed that Adebutu, who lost out in the governorship election of last Saturday, has slated a press conference where some people will impersonate the executives of the Ogun State Chapter of Inter-Party Advisory Council (IPAC) along with few politicians claiming to be Chairmen of registered political parties, with a promise of N2 million naira each.

The press conference slated for Park Inn Abeokuta, owned by Ladi Adebutu’s father will hold any moment from now.

 

According to the insider source, “Ladi and his party know they cannot win at the Tribunal because they are quoting a wrong section of the Electoral Act 2022, while ignoring the relevant and applicable section of the law. That is why they are bent on inciting and inducing the public instead of going to the Tribunal”

Continue Reading

Business

Wema Bank Organises Financial Literacy Programme for Students to mark 2023 Global Financial Literacy Day

Published

on

Wema Bank Plc, Nigeria’s leading Innovative Financial Institution is championing financial literacy for the next generation by participating in the Global Money Week to commemorate the Financial Literacy Day on March 23, 2023.

 

In alignment with the theme “Plan your Money, plant your Future”, Wema Bank organized financial literacy sessions for secondary school students across all states where the Bank is represented. This is to instill an early understanding of the significance of building a solid financial foundation and achieving financial stability and success from a young age.

 

The Deputy Managing Director of Wema Bank, Mr. Wole Akinleye, led the Financial Literacy Session at Yola Model School, Adamawa State. The students were trained on personal finance topics such as budgeting, emergency funds, saving for goal actualization, investment, donating for positive societal impact amongst others. He further encouraged the students on the importance of developing financial literacy as a life skill.

 

Speaking on the significance of Financial Literacy Week, Mr. Akinleye emphasized Wema Bank’s commitment to empowering young minds with the skills and knowledge necessary to make informed financial decisions. In his words, “Our hope is that through these initiatives, we can empower more individuals to take control of their finances and achieve financial stability.”

 

Financial literacy is vital for the achievement of financial stability, and it is essential to ensure that everyone has the necessary tools to manage their finances effectively and achieve their financial goals. Wema Bank Plc is committed to providing educational resources and opportunities for children through the Royal Kiddies Account and a range of other savings products, supporting financial empowerment for the next generation.

Continue Reading

Trending News