The Nigerian National Petroleum Company Limited, NNPCL, pledged 335,000 barrels per day of crude oil for an acquisition of 20 percent stake in the Dangote Petroleum Refinery. According to data from the NNPCL’s newly released audited financial report, it revealed the state-owned company acquired a 20 percent stake in the petroleum refinery for $2.76 billion through a $1.036 funding from Lekki Refinery Funding Limited of which $1 billion was paid to Dangote Refinery and $36 million accounting for transaction costs. “The balance of the cost of equity investments made in DPRP FZE, which is $1.76 billion will be paid upon…
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The Federal Inland Revenue Service, FIRS has revealed plans to ensure skit makers, influencers, and digital content creators in Nigeria pay their tax. This was contained in a press statement issued by the Special Adviser on Media to the Chairman of the FIRS, Dare Adekambi. Adekambi added that social media content creators and influencers constituted a major block of tax evaders. According to him, the Revenue Service will first set up a meeting and discuss with the entertainers why they should voluntarily pay their tax, but if the appeal fails, they will move to use enforcement. “Skit makers, influencers, and…
Nigeria is set to host the 17th edition of The Headies Awards after the previous two editions were held in the United States. In a statement on their Instagram page on Wednesday, February 7, the organizers expressed the significance of bringing the event ‘back home’ to the birthplace of the influential Afrobeat sound that has gained global recognition. The 2022 and 2023 editions showcased African music talents on an international stage, and now, in 2024, The Headies is returning to celebrate the music that has put the continent at the forefront of global pop culture. “As the event that recognized the arrival of our…
Sony Group has entered into a groundbreaking agreement to acquire a 50% stake in the music catalogue of the late pop icon, Michael Jackson. The deal is worth over $1.2 billion but it indicates that the valuation of these music assets surpasses $1.2 billion, with some estimates suggesting a figure upwards of $1.5 billion. Regardless, the Sony music group deal is valued at least $600 million, and stands as the largest-ever acquisition of its kind. The comprehensive agreement encompasses the ownership of master recordings and publishing rights for Michael Jackson’s extensive repertoire of songs. Additionally, there are indications that the deal may…
The Federal Inland Revenue Service (FIRS) has disclosed why the agency cannot tax online content creators and skit makers. A staff who spoke under the condition of anonymity stated that these individuals are outside the scope of the FIRS. The clarification emphasized that FIRS does not handle Personal Income Tax, as this falls under the jurisdiction of State governments. This is coming on the heels of a media report that said FIRS has labeled content creators and influencers as major tax evaders. The service clarified that it primarily collects Company Income Tax, saying that only corporate entities earning profits of N25 million…
The Real Housewives of Atlanta star, Porsha Williams has filed for divorce from her husband, Simon Guobadia after just 15 months of marriage. The filing was made in Georgia on February 22, just days after it became apparent that Guobadia was in danger of deportation as his request for U.S. citizenship was denied. Guobadia first entered the U.S. from Nigeria in 1985 and is accused of credit card fraud and identity fraud, among others. Their relationship was controversial from the start, with Williams exiting the Bravo franchise after announcing their engagement. This was just a month after they began dating. At the time,…
Russian opposition leader Alexei Navalny’s widow has accused the Russian government of hiding his body to cover up his murder. In a video statement on Monday, February 19, Yulia Navalnaya accused Russian President Vladimir Putin of killing her husband with a Novichok nerve agent, and subsequently ‘hiding’ his body to ensure traces of the nerve agent disappear. Navalnaya vowed to name those involved in his death and said he was killed because Putin “couldn’t break him”. Navalny’s spokesperson Kira Yarmysh, said that his 69-year-old mother and lawyers were told that Russian investigators have not yet established the cause of Alexei Navalny’s death and…
A judge in Haiti investigating the July 2021 assassination of President Jovenel Moïse, on Monday, 19 February, indicted his widow, Martine Moïse. A former prime minister Claude Joseph and the former chief of Haiti’s National Police, Léon Charles, among others have also been indicted. Dozens of suspects were indicted in the 122-page report issued by Walther Wesser Voltaire, who is the fifth judge to lead the investigation after previous ones stepped down for various reasons, including fear of being killed. Charles, who was police chief when Moïse was killed and now serves as Haiti’s permanent representative to the Organization of the American…
No fewer than 30 individuals have lost their lives after an illegal deep gold mine in La Paragua, Venezuela collapsed. The collapse of the Bulla Loca mine, which stands at a towering height of 114 feet, occurred on Tuesday, February 22, in the remote town of La Paragua, nestled near the Venezuelan Amazon within Bolivar state. According to reports, over 100 men were trapped within the confines of the mine as rescue efforts swiftly commenced. Mayor Yorgi Arciniega noted that as of Wednesday, February 21, numerous miners remained trapped, prompting urgent dispatches of rescue teams to the remote area. He acknowledged plans…
The European Union (EU) has fined tech giant Apple €1,800,000,000 for violating music streaming regulations and favoring its own music streaming service over rivals, following a complaint by streaming service Spotify. The EU alleges that Apple did not adequately inform users of alternative and cheaper subscription services, resulting in iPhone and iPad users paying significantly higher prices for music streaming subscriptions. According to the EU statement released on Monday, March 4, Apple’s restrictive policies prevented app developers from informing iOS users about alternative subscription options available outside of the app, thereby limiting competition and consumer choice. These policies included banning…