Taxes
Swedish House Mafia Named in Explosive Pandora Papers Financial Data Leak
Legendary electronic music trio Swedish House Mafia have been named in the Pandora Papers, an explosive leak of offshore financial data. Published by the International Consortium of Investigative Journalists, the cache of 11.9 million leaked documents implicates dozens of politicians, billionaires, celebrities, and business leaders. They expose scores of sensitive financial deals, secret bank accounts, and controversial tax infrastructures, leading to a global scramble by the world’s elite to mitigate the fallout. According to a report by Swedish national public television broadcaster SVT, Swedish House Mafia formed a company in the British Virgin Islands to manage ownership of various recordings released by the group, as well as its name and logo. ...
Catholic Church seeks Nigerian government’s partnership to tackle climate change
YouTube The Catholic Bishop of the Abuja archdiocese, Ignatius Kaigama, has urged the federal government to collaborate with the church to ensure a clean and healthy environment for Nigerians. Mr Kaigama made the call Saturday at an event to mark the beginning of a seven year climate improvement programme by the diocese, with the theme: “Care for our common home.” Mr Kaigama said local and international environmental realities had proven that “nature has been wounded and the church must be part of its healing” process. “We are interested in collaboration. We just hope that the government will return the gesture and embrace us. We must work together for beautifying the earth, for creating harmony and order in our society. “When we are doing it our way, providing the quality schools and clin...
EFCC has recovered over $100 million for NPA – chairman
The chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, says the agency has recovered over $100 million for the Nigerian Ports Authority Bawa said the recovery was part of the outstanding remittances owed to the country through the Nigerian Ports Authority. In 2017, the federal government had terminated the boat pilotage agreement it signed with Intels, after Abubakar Malami, attorney-general of the federation (AGF), said it violated the constitution. The company was also accused of not paying taxes in 2017 — the same year NPA accused it of failing to remit an outstanding debt. Speaking at the weekly ministerial briefing organised by the presidential media team at the presidential villa, Abuja, on Thursday, Bawa said EFCC had made recoveries directly for the...
Gunmen attacks: Ebonyi governor threatens to deploy Ebubeagu to Benue
Gov. David Umahi has urged the Benue government to form a replica of the Ebubeagu security outfit to protect a village inhabited mainly by Izzi natives from Ebonyi in the state. Umahi spoke on Wednesday when he visited the village known as Nwori-Ndi Obasi Village in Ado Local Government Area (LGA) of Benue which was attacked by gunmen on 30 May. The attack, which left some persons dead and many wounded, was stopped from spilling over to the neighbouring Okwofuruike and Odoke Villages of Ebonyi LGA by a combined team of security agencies and Ebubeagu security outfit. Speaking during the visit, Umahi said Ebonyi Government may be forced to deploy Ebubeagu to Benue if the state government failed to set up an outfit to protect the people. “These are Ebonyi people paying their taxes in Benue an...
Rice millers protest ‘multiple taxation’ in Ebonyi
Rice millers in Abakaliki, Ebonyi State, have protested against what they claimed to be multiple taxation in the state’s mill market. The millers, who decried alleged extortions of traders by the management of the market, called on the state government to find a lasting solution to it. They appealed to the government to review its revenue policy and reduce the increased taxes. The protesters carried placards with different inscriptions such as, “Management should not take rice mill as their father’s business”, “We are tired of the multiple and high taxes”, “We need an elected chairman and not Caretaker Committee to move development forward in the mill.” Speaking with journalists in Abakaliki on Tuesday, Chukwuma Eniokoro, the chairman of millers in the market, said they embarked on the pea...
Firm cautions Nigerian government over sale of national assets
Agusto Consulting has cautioned the federal government over its plan to relinquish national assets to private hands, saying, the risk involved is unquantifiable. Agusto Consulting, in a report titled “Rethinking Nigeria’s Models for Infrastructure Development,” noted that, the benefits of relinquishing control to the private sector are glaring, but remain difficult to implement. Noting that the federal government’s handing off certain critical assets of the country that have been dormant over the years will positively impact on the country’s budgetary allocation, but added that this decision has caveats and risks associated with operating models that involve private sector participation regardless of the levels of participation. “First is the high level of corruption in the country and the...
The U.S. Government Is Suing Ja Rule For $3 Million in Unpaid Taxes
HipHopWired Featured Video Source: Cassidy Sparrow / Getty Looks like Ja Rule is once again about to take on the United States government as the IRS is zeroing in on the former face of Murder Inc. Radar is reporting that the Queens rapper allegedly owes Uncle Sam over $3 million in federal taxes. Really?! When he’d start making millions like that again?! (no shots). According to the lawsuit filed by lawyers representing the United States of America, the artist born Jeff Atkins owes $3,139,237.76 for royalties made in 2005-2010 and 2012-2017. The breakdown is $357,421.23 (2005), $518,700.88 (2006), $348,087.49 (2007) $267,193 (2008), $198,817.99 (2009), $47,901.53 (2010), $128,926.37 (2012), $116,720.65 (2013), $229,577.62 (2014), $212,270.42 (2015), $526,431.46 (2016) and $187,188.52 (2017...
Report: Nigerian politicians own 800 assets worth $400 million in London, Dubai
File Photo An Associate Fellow of Chatham House, London, Mr. Matthew Page, said yesterday that 800 property worth $400 million and owned by Politically Exposed Persons (PEP) in Nigeria were located in London and Dubai. The revelation is coming as the Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanonye, said it dragged about 2,000 corporate entities into the country’s tax net. A statement issued by ICPC said Page made the disclosure in his paper presentation titled: “IFFs through the Real Estate and Education Sectors: Implications for Investigators,” at an event organised by the agency in Abuja. He urged the investigators of the ICPC to pay attention to real estate and education sectors-linked illicit financial flows. He noted ...
Analysts: Printing currency could hurt economy
Analysts have expressed concerns over a recent claim that the federal government resorted to printing money to augment the monthly allocation to the three tiers of government, warning that it could heighten inflationary pressure with dire consequences for the country’s exchange rate and economy. The analysts, in separate interviews with newsmen, warned that a sustained policy of printing the currency, if not well managed, would hurt the economy. The concern came on the heels of recent revelation by Governor of Edo State, Mr. Godwin Obaseki, that due to the dwindling revenue in the face of declining oil revenue arising from the growing sources of alternative sustainable energy, the federal government had to print money to augment the amount available for sharing by the federal, state and lo...
Troops eliminate terrorists on looting spree, burst Boko Haram tax collectors
The Nigerian troops on the evening of Monday, 22 March, ambushed and killed scores of Boko Haram/ISWAP elements who were reportedly on looting spree at Magumeri axis of Borno State. This is coming as troops from another sector bursted Boko Haram elements who were collecting taxes and levies from Villagers and herdsmen in Geidam area of Yobe State. Sources told PRNigeria that following a tip off, troops led by Lt Col Ibrahim Bunu, sighted scores of terrorists around 5pm on about 10 motorcycles heading towards Ngowala ward in Magumeri Local Government Area, laid ambush and eliminated them. The troops who were accompanied by civilian joint task force members, captured sophisticated weapons from the neutralized terrorists including AK 47 Rifles, Barreta assault rifles, hand grenade and Bandoli...
Femi Falana: EFCC can mandate bank MDs, executives to declare assets
The Economic and Financial Crimes Commission (EFCC) is charged with the responsibility of enforcing the provisions of all laws relating to economic and financial crimes, Africa’s leading human rights lawyer, Mr. Femi Falana (SAN) has said. Consequently, according to the senior advocate, the anti-graft commission is empowered to cause investigations to be conducted into the properties of any person as stipulated under Section 7 (1) (b) of the EFCC Act, 2004. Also yesterday, Transparency International (TI) argued that if the provisions of the Bank Employees, etc. (Declaration of Assets) Act, 1986 were effectively enforced, Nigeria could save between $15 billion and $18 billion illicit financial flows (IFFs) annually. Falana clarified the roles of the EFCC in a response to inquiries on whethe...
RTEAN: Commercial buses strike illegal
Pool Photo The Lagos State Chapter of the Road Transport Employers Association of Nigeria (RTEAN) on Monday said the stay-off-road action by commercial buses on the Lagos-Badagry Road was unnecessary. The Secretary of the chapter, Abdulrahman Amusan, told newsmen that the N800 ticket imposed on commercial buses in the state was for tax purposes. Newsmen report that the commercial bus drivers had on March 1, embarked on what they called “Cease Commuter Operation” on the Lagos-Badagry Expressway – from Badagry to Mile 2 – following what they termed an unbearable increment in ticketing and brutality by RTEAN. The drivers were still off the expressway while passengers remained stranded at various bus stops. It is still not certain when they will return to the roads. They claim that both the RT...
