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No VAIDS Extension For Tax Defaulters – Adeosun Reveals, Says 130,000 Individuals, Firms Identified

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The Minister of Finance, Mrs. Kemi Adeosun, has ruled out an extension of the of the tax amnesty programme deadline saying sufficient period had been given to tax payers to voluntary and truthfully declare their assets and income which had not been declared previously.

Speaking while appearing on the Good Morning Nigeria programme of the Nigerian Television Authority, Adeosun revealed that the data mining efforts of the federal government through the Federal Ministry of Finance has identified a new batch of over 130,000 high net worth individuals and companies that have potential tax underpayments.

She disclosed that the data was currently being compiled by Project Lighthouse in preparation for the closure of the ongoing Voluntary Assets and Income Declaration Scheme (VAIDS), which ends on 31st March 2018.

“The data has been received from a number of sources including land registries of the governments of Lagos, Kaduna, Kano and Ogun States as well as the Federal Capital Territory,” she stated.

“In addition, Nigeria has been able to request data from a number of nations including traditional tax havens. The data has been received from a number of foreign jurisdictions under the exchange of information protocols.

“Under the exchange of information protocols, this information relates to bank records and financial filings for tax purposes and is obtained from tax havens who are signatories to the information sharing agreements such as British Virgin Islands and Mauritius.

“The sole interest of the federal and state governments in the use of the data is in raising tax revenues. There is absolutely no hidden agenda on the use of the data,” she added.

Adeosun hailed the ‘unprecedented’ level of cooperation between the federal and state governments, which she said was a marked change from the past when the various arms of government did not align their efforts and advised non-compliant tax payers to seek professional advice and to also consult relevant literature available from the tax authorities on tax rules.

Star rejects dead fan’s bank account gift.

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Editor
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Bollywood star Sanjay Dutt has refused to be the recipient of a dead fan’s bank savings and valuables, saying he never met her.

Nishi Harishchandra Tripathi, a Mumbai-based woman and a fan of Dutt’s films, died aged 62 in January.

Last month, the bank informed Dutt that Tripathi had made him the receiver of her money and valuables.

Dutt told the bank that he was “deeply overwhelmed by the gesture of the fan” but waived his right to her money.

One of Bollywood’s most bankable stars, Dutt has appeared in more than 100 films.

The star’s lawyer Subhash Jadhav told the BBC that Dutt was surprised when the bank informed him that Tripathi had made him the nominee of her savings and safe deposit locker valuables.

He said they had “no idea of the worth” of her savings, as the bank had provided no such information.

“We are overwhelmed and deeply humbled by the gesture of the fan. I am not personally acquainted with her and never met her. So I waive my rights as a nominee of the account and the [safe deposit] locker,” Dutt was quoted as telling the bank by Mr Jadhav.

Mr Jadhav said they had communicated to the bank that they will “adhere to any legal proceedings necessary to transfer the money and valuables back to the [Tripathi’s] family”.

The Mumbai Mirror newspaper reported that Tripathi died from a terminal illness and was survived by her 80-year-old mother and three siblings. The family lived in an apartment in an upmarket neighbourhood in Mumbai.

Dutt remains popular for his role as a lovable gangster in the Munnabhai movies and has dabbled in politics.

He also served a sentence for firearms offences linked to the 1993 Mumbai blasts which killed 257 people and injured 713. He was released from prison in 2016.

NCDMB : Sue Offenders of Local Content Act

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Simbi Kesiye Wabote, Executive Secretary, NCDMB

Oil and Gas companies that fail to comply with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act will henceforth be dragged before the law courts by the Nigerian Content Development and Monitoring Board (NCDMB), the Executive Secretary, Engr. Simbi Wabote, said in Abuja on Tuesday.

He spoke at the first national seminar for Justices and Judges on the Role of the Judiciary in the development of the Nigerian Local Content Law and Policy, organized by the Juris Law Office and NCDMB in collaboration with the National Judicial Institute (NJI).

He noted that the NCDMB had used administrative procedures to enforce the Act in the past eight years but will begin to prosecute cases of infringement in line with Section 68 of Nigerian Content Act.

He said, “We are changing gear in NCDMB from writing letters of non-compliance on infractions to the actual prosecution of offenders who think they can trample on the law of the land on Local Content and get away with it.”

The Executive Secretary said the Board delayed the prosecution option because it wanted to fully exploit the Alternative Dispute Resolution (ADR) methods, develop its operating guidelines and organize capacity building workshops on the Nigeria Content Act for the Judiciary.

He noted that “After this workshop, we will begin to institute cases in the courts. If we don’t enforce the provisions of the Act, we will not be able to create employment opportunities for Nigerians from the activities in the industry.”

Giving details of the Board’s achievements, Wabote explained that most fabrication, engineering, and procurement in the oil and gas industry were done abroad prior to the enactment of the NOGICD Act in 2010 and it resulted in the estimated capital flight of $380 Billion Dollars in 50 years.

“Estimated job lost opportunities was in the region of two million. The narrative then was that nothing can be done in-country resulting in less than five percent of in-country value addition,” he said.

He added much of the 28 percent Local Content achievement recorded since the enactment of the Act till date were done using the passion and commitment of the various directorates in the Board.

According to him, “our next big leap from 28 percent to 70 percent in-country value retention will require a step change in the enforcement of the law to drive the reversal of capital outflow.”

He further solicited the support of the Justices when interpreting the objectives and philosophy of the NOGICD Act if cases bordering on Local Content become subject to litigation. “We need the support of the judiciary to achieve our drive to create wealth for local businesses and jobs for our teeming populace in line with the law.”

The Local Content boss stated further that the target Nigerian Content level is meant to create 300,000 direct jobs and retain over $14 billion in-country out of the $20 billion yearly spend.

In his keynote address, the Chief Justice of Nigeria, Justice Walter Onnoghen charged judiciary officers to always refer to the Nigerian Content Act when deciding matters related to oil and gas servicing and exploration contracts as such agreements must comply with the Act.

He underscored the need for Justices and Judges to keep abreast with developments in the Nigerian oil and gas sector, adding that “the adjudicatory duty of a Judge can only be performed optimally when he remains up to date with the emerging developments and trends in jurisprudence pertaining to the oil and gas sector.”

The CJN challenged Judicial Officers to ensure speedy resolution of disputes so as to assure investors and other major players in the Oil and Gas industry that their investments are safe.

Onnoghen also directed judicial officers to encourage the use of Alternative Dispute Resolution methods, such as Arbitration and Mediation to ensure quick resolution of cases in the oil and gas industry.

Russian poisoning horror as 27 workers at top secret defence plant struck with mystery illness

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Editor
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Staff at a top secret defence factory in Russia claim they have been exposed to deadly thallium and that their government is trying to cover it up.

The 27 men and women who work at the plane-making factory have issued a plea for help after accusing their bosses of attempting to suppress the truth over the potentially radioactive leak.

Many have lost their hair from the attack and suffered chronic sicknesses from which they may not fully recover.

Doctors were confused by the poisoning and initially diagnosed gastritis or rotavirus – or told staff they were healthy.

Thallium was seen as Cold War weapon – but it is not normally used in the factory, which makes the poisoning all the more mysterious.

The outbreak is revealed as ex-Russian military spy Sergei Skirpal and his daughter Yulia were hit by a mystery poisoning in Wiltshire, in the UK.

 

One woman called Inna Aleinikova showed on a video how she is going bald after becoming ill at the Taganrog Beriev Aircraft Scientific and Technical Complex, a leading maker of amphibious aircraft in Russia.

“This is my hair – all that’s now left of it now,” she said.

“It is as if your body has lost all its skin – you can’t touch it.

“In early December, me and some other employees of the legal department felt similar symptoms – acute pains in the chest, muscles and joints.

“I turned to doctors in Taganrog but they said I was healthy.

“In early January I began to lose my hair, as did four other colleagues.

“Blood tests proved that I had thallium poisoning.”

Other workers had different symptoms.

Thallium in isotope form can be radioactive but it is not clear is this was the case here.

Workers are “angry that their symptoms have not been properly checked and the authorities want to cover up and deny the thallium poisoning”, one local report said.

Economist Ksenia Sergus said she woke feeling severe pains when she breathed in. These spread to her back and bottom.

Others suffered nausea, vomiting and diarrhoea.

The plant’s medical department and local doctors denied anything suspicious – and it was left to the workers to check their symptoms on the internet and conclude they had thallium poisoning. They then had private tests to verify the diagnosis.

Victim Konstantin Kolesnikov, who is now in a wheelchair, told Blokot: “At first they treated me from gastritis, then they diagnosed polyneuropathy, this is something common for people drinking alcohol.

“But then the doctor called me and asked to have a test on thallium.

“The results were shocking. I have lost almost all my hair.”

Only in January did tests prove he had talcum poisoning.

His wife Elena said: “We were told that he would walk himself in about a year but nobody can guarantee anything about his eye sight.”

Others fear that antidotes were not given promptly because of the misdiagnosis.

Thallium has been used as a murder weapon in several countries because it was seen as hard to trace.

Workers have signed a petition complaining about the failure to diagnose their conditions, and inappropriate treatments.

Now the secret defence plant has promised financial support for the workers, but the plant denies using deadly thallium.

“The poisoner is among the victims,” they claimed.

Despite the mass alleged poisoning, no formal criminal case has been opened.

Toddler locks iPhone for 48 years and the same thing could happen to you

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Editor
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Pic shows: The phone with the 47 year old wait to unlock.

A two-year-old boy in Shanghai reportedly shut down his mum’s iPhone by repeatedly entering the wrong passcode.

The mum said her DS (Mumsnet slang for Darling Son) was allowed to use the phone to watch ‘educational videos’. But she returned home to find that he had entered the wrong password so many times that it locked for 25 million minutes.

‘I couldn’t really wait for 48 years and tell my grandchild it was your father’s mistake,’ the woman said, according to the South China Morning Post.

One Chinese technician said he’d seen phones locked for 80 years.  Theoretically, the same thing could happen to your phone if someone spent long enough typing in the wrong password.

Apple’s security system locks the phone in increasing increments of time when the wrong password is entered, starting with a small amount and then quickly growing with each incorrect attempt.

We have also found entries on tech support pages which report the same problem, suggesting there’s a very real chance that your iPhone could be put into a state of suspended animation by a button bashing bambino.

Of course, locking your phone like this isn’t a total nightmare, because all you need to do is erase your phone data and do a factory reset. If you’ve kept a backup of your iPhone (which you can learn how to do by visiting Apple’s support page) there’s no harm done.

The story sparked passionate debate over in China, with parents saying the iMum should not have given the phone to her child and let him play unsupervised. So be careful and make sure you don’t give your phone to any kids. Unless, of course, they’re slightly older and scary-looking. In case we’d heartily advise you to hand over your iPhone if they ask you for it.

 

 

Coca-Cola breaks 130-year-old tradition with first alcoholic drink

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Editor
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With its iconic red label and secret recipe, it’s been one of the world’s most famous soft drinks for more than a century. Now, however, Coca-Cola is on the brink of a new chapter – with plans to launch its first alcoholic drink.

The company is currently experimenting with the creation of a popular type of Japanese alcopop known as Chu-Hi, containing distilled shochu alcohol mixed with flavoured carbonate water.

The low alcohol canned drink will be launched in Japan, home to a thriving if competitive industry, with countless Chu-Hi flavoured drinks – from kiwi to yuzu – sitting on convenience store shelves across the country.

Confirming the plan in an interview on the company’s website, Jorge Garduño, Coca-Cola’s Japan president, said: “This is a canned drink that includes alcohol; traditionally, it is made with a distilled beverage called shochu and sparkling water, plus some flavouring. We haven’t experimented in the low alcohol category before, but it’s an example of how we continue to explore opportunities outside our core areas.”

Highlighting how “unique” this venture was for the company, Mr Garduño, who did not specify a timeline for the new product, added: “Coca-Cola has always focused entirely on non-alcoholic beverages, and this is a modest experiment for a specific slice of our market.

“The Chu-Hi category is found almost exclusively in Japan. Globally, it’s not uncommon for non-alcoholic beverages to be sold in the same system as alcoholic beverages. It makes sense to give this a try in our market.”

The concept of alcoholic Coca-Cola drinks, however, was likely to stay within Japan rather than expand globally, due to the “unique and special” qualities of the Japanese market, he added.

Coca-Cola’s inaugural foray into the world of alcoholic beverages takes place more than 130 years after the original drink was first launched in the US, minus any alcohol in order to circumvent restrictive prohibition laws.

It coincides with shrinking global demand for soft fizzy drinks, due to health concerns relating to sugar consumption, with sports drinks and water emerging as Coca-Cola’s strongest performing beverages.

Meanwhile, Japan’s alcopop market has grown expansively since the country’s first ready-to-drink Chu-Hi product for stores – called hiLicky – was reportedly released in 1983, with young women fuelling sales.

The telegraph

Marriage and Money issues

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017985556912069
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The Beatles said all you need is love, but a solid marriage needs a good financial management strategy as well. Money problems are the number one source of conflict within a marriage, according to Smart Money.

The best way to avoid money problems in marriage is to create a money plan before the wedding. If you’re already married, you can still work with your spouse to set goals and make a plan that will reduce stress in the marriage.

Make a commitment to work together. Any problem, including money issues require you and your spouse to vow to work as a team to solve the problem. It will involve a willingness to listen and respect each others feelings and ideas.

View the money situation as “ours”. Although there are two people in the marriage, you are a single couple going through life as partners. His earnings are your earnings and visa versa.That also means his student loan is your student loan and your consumer debt is his consumer debt. This is especially important if there is inequity, such as one spouse earns significantly more or one has more debt, which can lead to resentment.

Make financial goals as a couple. This includes long-term goals such as retirement and children’s college funds, as well as short-term goals such as vacations and home improvement. Also make budgeting goals that cover all expenses, but allow each spouse a little flexibility. For example, if your husband eats out too much, set a dining out allowance that doesn’t break the bank. If you spend too much on clothes, set an allowance that allows new items without overdoing it.

Decide who will be the main money manager. While you need to work together, choose the more financially responsible person to pay bills, prepare taxes and manage investments. However, the non-money manager should still review accounts and the current financial situation on a regular basis.

Open a separate credit account for each spouse. While many financial advisors advocate having joint bank and savings accounts, each spouse should have an account in his or her own name for credit purposes. This is especially true if one spouse is dependent on another financially. If there is a death or divorce, you don’t want to be without good credit.

DSS frees detained journalist.

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Editor
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The Department of State Services, DSS has released Anthony Ezimakor, the Abuja Bureau Chief of the Daily Independent Newspaper after holding him for about seven days at its Abuja headquarters.

Ezimakor was detained following a news report he wrote for the newspaper that detailed how senior officials of the agency were allegedly racketeering and profiting from the ransom payments made to the Boko Haram by the federal government.

His lawyer said the DSS unsuccessfully pressed him to disclose the identity of his source for the story in exchange for his freedom.

A source, who is close to the newspaper that has knowledge of the development said that he was freed around 10.30pm on Tuesday night.

His release followed wide condemnation of the DSS from both local and international rights groups over his detention.

Adesina to Edwin Clark: State of emergency did not achieve anything under Jonathan.

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Editor
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The Special Adviser to the President on Media and Publicity, Mr Femi Adesina, has questioned the call for a state of emergency in some troubled states by a former Minister of Information, Edwin Clark.

Recalls that Clark had asked President Muhammadu Buhari to declare a state of emergency in Borno, Adamawa and Yobe states in order to win the war against Boko Haram insurgency.

He also condemned the abduction of 110 schoolgirls by the insurgents in Yobe and accused the state governor as well as that of Borno and Adamawa of failing in their duties as chief security officers of their states.

However, Adesina, in response to the suggestion, said a similar state of emergency did not yield any result insisting that he declaration of a state of emergency is not enough to defeat insurgency.

“Under President Goodluck Jonathan, state of emergency was declared in those three states, what did it achieve?” he told Channels Television.

Adesina also insisted that the Federal Government has a totally different approach to fighting the insurgency.

“What should happen is bringing a decisive and final end to the insurgency raving those states and by the grace of God, we are almost there,” he continued.

“The President is going to those states to visit everyone; all stakeholders are going to be invited for meetings – traditional rulers, farmers, herdsmen, community leaders.”

Why you should visit Port Harcourt.

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I can think of a million and one reasons to live in Port Harcourt, Rivers State, Nigeria. Aside from the fact that the city is a beautiful place to live in and it offers a different culture, there is so much going on there!

Port Harcourt city (PHC) attracts thousands of tourists a year, making it one of the most prominent cities in the country in terms of visitor popularity. From the people to the places, from the food to the drinks and from the bars to the gardens

You can actually save. There is the rumour that PHC is a very expensive city and things are not really cheap. While there is a measure of truth to this, Port Harcourt is hardly a city you would describe as notoriously expensive. The standard of living is still a little lower than in such cities as Abuja and Lagos and aside from that, food items, clothing, and transportation is quite affordable; you just need to know where to go and how to navigate the city.

You, therefore, do not spend so much catering to daily expenses and you can save for your dream house or goal.

Transportation is easy. You do not necessarily need to have a car when living in PHC since there are easy and well-organized transport system. The transport in PHC is so great, the commuters are calm and enter their choice of a transport system in an orderly manner.

Even better, you can literally walk everywhere. For instance, you can trek from Waterlines to Agip or from mile-1 to Town, everywhere almost close to each other; unlike in Lagos and other metropolitan cities within the country where everywhere is just far from each other and walking could imply suicide.

Active nightlife Nightlife in Port Harcourt is huge. Home to hundreds of pubs and bars, embracing diverse music scenes, PHC is a great night out 7 days a week. A lot of silent places in the daytime suddenly come alive with music and activities that drag night owls from their homes to hubs, joints and hotels.

With numerous live events hosted weekly, you’ll be sure to catch your favourite band on one of the nights. The city is full of wonderful people. The reputation of the PHC people for being hostile to visitors is misdirected.

The city is actually populated by friendly, helpful and open-minded citizens – for the most part – who relish the idea of a more metropolitan and multicultural future for the city.

The Port Harcourt Cultural center is a famous tourist attraction. Located on Bonny Street, it serves as a center for exhibiting the cultural diversity of Port Harcourt and Rivers State as a whole. The center exhibits artifacts that tell the history of the city, and also houses shops that sell copies of these local artifacts as well as African jewelry, home wares, pottery and souvenirs within the center.

Again, with a theater a stage and auditorium for live performance of cultural dance and plays, it holds a huge attraction for visitors. Take time out to see a play at the cultural center and have fun learning new things about the city’s rich culture. The tickets are usually very affordable.

The Port Harcourt Tourist Beach is a man-made beach created along the Kolabi Creek line. The beach is dotted with several open bush bars, restaurants and relaxation spots where seafood and barbecue is served. The beach also hosts informal games of volleyball and beach soccer.

Bole and fish! You may have tasted it in other parts of the country; you may have liked it or you may have hated it. In PHC, however, Bole and Fish, a popular meal among the locals in the city, is a different ball game altogether. With a diverse and exciting array of this delicious cuisine found literally at every corner of the city– and it is wonderful to have it quite literally on tap wherever you go- it is sure to excite your taste buds and give you a reason to stick around.

Marvellous Shopping People in PHC love shopping and as such, you’ll be spoilt for choice with boutiques and Malls strategically positioned around town. Your friends will be dying to come up for a weekend, then you can always head to one of the many lounges or bars to put your feet up after showing off the miles of shopping heaven that is the city.

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