UBA Business Series: Digital Entrepreneurs Highlight Authenticity, Consistency, Passion as Real Game-Changer

UBA Business Series: Digital Entrepreneurs Highlight Authenticity, Consistency, Passion as Real Game-Changer

 

Directorate Head, Group Resources, United Bank for Africa(UBA), Tomiwa Sotiloye; Group Head, Remittances, United Bank for Africa, Uzomaka Oyeka; Nigerian Content Creator, Nasiru Lawal (Nasboi); Kenyan Actress and Media Entrepreneur, Catherine Kamau; Group Head, Marketing & Corporate Communications, Alero Ladipo; Managing Director/CEO at Nitro 121, Dr. Lampe Omoyele; Nigerian Digital Influencer, Enioluwa Adeoluwa and Digital Creator & Actor, Elozonam Ogbolu; at the UBA Business Series , themed , “Content that Converts: Building Influence and Driving Growth Through Strategic Marketing,” held at the UBA House in Lagos on Thursday

Africa’s Global Bank, United Bank for Africa (UBA) Plc, hosted another enlightening edition of the UBA Business Series, bringing together some of Africa’s most dynamic digital entrepreneurs and influencers to discuss the secrets behind building impactful online communities.

 

This edition of the Business Series, which had the theme, “Content that Converts: Building Influence and Driving Growth Through Strategic Marketing,” was held at the Tony Elumelu Amphitheatre in UBA Head Office, Marina, Lagos on Thursday.

 

The very engaging session, shed light on how authenticity, consistency, and passion remain true cornerstones of success in the ever-evolving digital landscape, while the content creators shared first-hand experiences from their journeys across diverse industries and markets.

 

UBA’s Group Head, Digital Banking, Kayode Olubiyi, who welcomed participants and the panellists to the session, reaffirmed the bank’s commitment to empowering entrepreneurs across Africa through knowledge-sharing and capacity-building initiatives such as the Business Series.

 

He emphasised that the quarterly event continues to serve as vital avenues for supporting innovation and entrepreneurship, equipping individuals with practical insights to grow their brands and businesses in a competitive digital economy.

 

In his keynote address, the Managing Director/CEO at Nitro 121, Dr. Lampe Omoyele, who said that “You can create something out of what appears to be nothing,” gave insight on key trends to develop content that creates Impact.

 

He noted that content creation should go beyond aesthetics or trends to focus on value, purpose, and agility as he pointed out that creators who aim to make a difference must develop a clear personal brand identity and remain consistent in delivering messages that resonate with their audience.

 

The panel session featured an impressive line-up of digital entrepreneurs and content creators, including Digital Creator and Actor, Elozonam Ogbolu; Digital Health Educator, Chinonso Egemba (Aproko Doctor); Kenyan Actress and Media Entrepreneur, Catherine Kamau; Content Creator, Nasiru Lawal (Nasboi) and Digital Influencer, Enioluwa Adeoluwa, who was also the moderator of the event.

 

Growth is very important, says Nasiru Lawal. “For the younger creators here, my best advice is this: please prioritise your growth. As a creator, the moment you become famous, you no longer move at your own pace; you move at the people’s pace. It is therefore important to ensure you grow consistently and then overtime, the recognition and the money begins to roll in.”

 

Elozonam Ogbolu who agreed with Lawal, had this to say: “Content creators have to engage their audience with proper storytelling, because brands are always out to carefully choose their creators. For the brands, you must pick your influencer or ambassador very deliberately and work together over time to grow. That is when you will see a proper return on investment.

 

In his submission, Chinonso Egemba, said, “If you’re building a business or doing content creation, treat content creation as a business. When you treat it as a business, it needs proper structure. Otherwise, it won’t last. If you don’t put structure in place, you’ll end up responsible for everything, and that leads to burnout. You have to build structure, because if you want longevity, structure is very essential.

 

For Catherine Kamau, it is important for content creators to find a balance and stay close to their community. “What I realized is I have a community that keeps me grounded, and that’s family. When you get famous, you tend to forget where you come from, you know, social media is an illusion and you start assuming that it is your real family until bad things happen to you. So please remember the real people in your life, because fame can get to your head, but those are not the people who are going to have your back when things go south.”

 

The creators while sharing their diverse experiences, they collectively emphasized that building a personal brand should take precedence over chasing financial gain. They also underscored the importance of originality, urging young creators to find their unique niche rather than replicating what others have done.

 

UBA’s Group Head of Marketing and Corporate Communications, Alero Ladipo, who commended panellists for taking time to share their useful insights at the event, took time to celebrate the UBA Management for organising conversations like this which according to her, ‘remain impactful and will impact not just the individual customers, but also the economies at large.”

 

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

FirstHoldCo sustains growth momentum as gross earnings rise 17% to N2.6trn By Chima Nwokoji

FirstHoldCo sustains growth momentum as gross earnings rise 17% to N2.6trn

By Chima Nwokoji

FirstHoldCo Plc has sustained its growth momentum across core business segments, reporting a 17.1 percent year-on-year increase in gross earnings to ₦2.64 trillion for the nine months ended September 30, 2025, compared to ₦2.25 trillion in the corresponding period of 2024.

According to the unaudited results released by the Group, interest income rose sharply by 40.4 per cent to ₦2.29 trillion from ₦1.63 trillion in September 2024, reflecting improved asset yields and loan book expansion. Net interest income also climbed 71.7 per cent year-on-year to ₦1.5 trillion, buoyed by stronger core banking operations.

However, non-interest income declined 49.2 percent to ₦296.9 billion, while impairment charges for credit losses surged 68.6 percent to ₦288.9 billion, reflecting prudent risk provisioning in a volatile operating environment.

Operating income rose 23.2 percent to ₦1.80 trillion, though profit before tax slipped 7.3 percent to ₦566.5 billion, down from ₦610.9 billion a year earlier. Profit after tax also fell by 15.5 percent to ₦450.9 billion, largely due to reduced fair value gains and higher operating costs, which jumped 39.3 percent to ₦942.7 billion.

Despite the profit decline, the Group maintained balance sheet stability, with total assets at ₦26.4 trillion, marginally lower than ₦26.5 trillion as of December 2024. Customer deposits rose 4.2 percent year-to-date to ₦17.9 trillion, while net loans and advances increased by 9 percent to ₦9.6 trillion.

Key performance ratios show that FirstHoldCo maintained a post-tax return on average equity of 19.9 per cent and a post-tax return on assets of 2.3 percent. The Group’s cost-to-income ratio stood at 52.4 per cent, compared with 46.4 percent a year earlier, while the non-performing loan (NPL) ratio improved to 8.5 per cent from 10.2 percent in December 2024.

Group Managing Director, Adebowale (Wale) Oyedeji, described the results as a reflection of the Group’s underlying resilience and commitment to sustainable growth.

“FirstHoldCo has once again demonstrated solid earnings capability,” Oyedeji said. “Our interest and operating income grew strongly by 40.4 percent and 23.2 percent, respectively, supported by a 26.9 percent rise in fees and commission income. The decline in profit before tax was due to the normalisation of fair value gains and balance sheet strengthening initiatives.”

He noted that the Group’s strategic risk management measures were already yielding results, as seen in the improved asset quality.

On the recapitalisation of FirstBank, Oyedeji disclosed that the first phase of its private placement capital raise had been successfully executed and is awaiting final regulatory approvals.

“We expect to conclude this phase in November 2025, ensuring FirstBank’s full compliance with the new minimum capital requirements by year-end,” he said. “Subsequent capital raising rounds will further enhance our financial solutions and support value-accretive initiatives.”

Oyedeji reaffirmed the Group’s commitment to achieving its 2029 financial targets, noting that FirstHoldCo remains well-positioned to deliver stronger shareholder value through operational scalability and prudent capital management.

Casinos That Accept Credit Card Deposits: Regional Rules

Introduction

For those looking to dive into the world of online gambling, knowing which casinos accept credit card deposits is crucial. While many players prefer the convenience and security of using their credit cards to fund their accounts, it’s important to be aware of the regional rules and regulations that govern these transactions. In this article, we’ll explore the core concept of credit card deposits at online casinos, how they work, the pros and cons, practical tips, and examples of use cases. We’ll also touch on payment/costs, safety considerations, and conclude with some frequently asked questions. Let’s dive in!

Core Concept

Credit card deposits are a popular method for funding online casino accounts. This payment option allows players to transfer funds from their credit card to their casino account quickly and conveniently, enabling them to start playing their favorite games without delay. Many online casinos accept credit card deposits, making it a convenient choice for players around the world.

How It Works or Steps

  • 1. Select the credit card deposit option on the casino’s payment page.

    2. Enter your credit card information, including the card number, expiration date, and CVV code.

    3. Choose the amount you wish to deposit and confirm the transaction.

    4. The funds will be instantly credited to your casino account, allowing you to start playing immediately.

    5. Keep in mind that some casinos may require additional verification steps for credit card deposits.

Overall, the process of making a credit card deposit at an online casino is simple and user-friendly, making it a popular choice among players.

Pros

  • 1. Instant deposits ensure that players can start playing their favorite games right away.

    2. Widely accepted by many online casinos, providing a convenient payment option for players.

    3. Offers an added layer of security, as credit card transactions are often protected by fraud prevention measures.

    4. Can earn reward points or cashback on credit card deposits, depending on the card and casino.

    5. Allows players to easily track their spending by reviewing their credit card statements.

Cons

  • 1. Some credit card issuers may charge cash advance fees for casino deposits.

    2. Not all banks or credit card companies allow transactions to online casinos, leading to declined payments.

    3. Players may be tempted to overspend if using a credit card as a payment method.

    4. Potential for identity theft or fraud if credit card information is compromised.

    5. Withdrawals to credit cards may take longer to process compared to other payment methods.

Tips

  • 1. Check with your credit card issuer to ensure online casino transactions are allowed.

    2. Monitor your credit card statements regularly to track your spending at online casinos.

    3. Look for online casinos that offer rewards or cashback for credit card deposits.

    4. Set a budget for your online gambling activities to avoid overspending.

    5. Consider using a dedicated credit card for online casino transactions to track your gambling expenses separately.

    6. If experiencing issues with credit card deposits, consider alternative payment methods such as e-wallets or prepaid cards.

Examples or Use Cases

Many players around the world rely on credit card deposits to fund their online casino accounts. Whether you’re a casual player looking to enjoy some entertainment or a high roller seeking the thrill of big wins, credit card deposits offer a convenient and secure way to play your favorite games. From slot machines to table games, players can easily top up their accounts with a few simple clicks, allowing them to focus on the excitement of the game.

Payment/Costs (if relevant)

When using a credit card to make a deposit at an online casino, players should be aware of any potential fees or charges that may apply. Some credit card issuers may treat casino deposits as cash advances, resulting in additional fees or higher interest casino with credit card rates. It’s essential to review the terms and conditions of your credit card agreement to understand any potential costs associated with using your card for online gambling transactions.

Safety/Risks or Best Practices

While credit card deposits offer convenience and speed, it’s essential for players to prioritize their safety and security when making online transactions. To minimize risks, players should only use reputable online casinos that employ advanced encryption technology to protect sensitive financial information. Additionally, players should regularly monitor their credit card statements for any unauthorized charges or suspicious activity. If you ever suspect fraudulent activity on your credit card, contact your issuer immediately to report the issue and protect your account.

Conclusion

Credit card deposits are a popular choice for online casino players around the world, offering instant transactions and secure payment options. By understanding the pros and cons of using credit cards for online gambling, players can make informed decisions to enhance their gaming experience. Remember to follow best practices for safety and security while enjoying the convenience of credit card deposits at your favorite online casinos.

FAQs

Q1: Can I use any credit card to deposit at online casinos?

A1: While many online casinos accept a wide range of credit cards, some issuers may restrict transactions to gambling sites. Check with your credit card issuer to ensure online casino deposits are allowed.

Q2: Are there any fees associated with using a credit card for online casino deposits?

A2: Some credit card issuers may treat casino deposits as cash advances, resulting in additional fees or higher interest rates. Review your credit card agreement for any potential costs.

Q3: How quickly will my credit card deposit appear in my online casino account?

A3: Credit card deposits are typically processed instantly, allowing players to start playing their favorite games right away.

Q4: Can I withdraw my winnings to my credit card?

A4: While some online casinos allow withdrawals to credit cards, the processing time may be longer compared to other payment methods.

Q5: What should I do if I suspect fraudulent activity on my credit card?

A5: If you notice unauthorized charges or suspicious activity on your credit card, contact your issuer immediately to report the issue and protect your account.

Casinos That Accept Credit Card Deposits: Regional Rules

Introduction

For those looking to dive into the world of online gambling, knowing which casinos accept credit card deposits is crucial. While many players prefer the convenience and security of using their credit cards to fund their accounts, it’s important to be aware of the regional rules and regulations that govern these transactions. In this article, we’ll explore the core concept of credit card deposits at online casinos, how they work, the pros and cons, practical tips, and examples of use cases. We’ll also touch on payment/costs, safety considerations, and conclude with some frequently asked questions. Let’s dive in!

Core Concept

Credit card deposits are a popular method for funding online casino accounts. This payment option allows players to transfer funds from their credit card to their casino account quickly and conveniently, enabling them to start playing their favorite games without delay. Many online casinos accept credit card deposits, making it a convenient choice for players around the world.

How It Works or Steps

  • 1. Select the credit card deposit option on the casino’s payment page.

    2. Enter your credit card information, including the card number, expiration date, and CVV code.

    3. Choose the amount you wish to deposit and confirm the transaction.

    4. The funds will be instantly credited to your casino account, allowing you to start playing immediately.

    5. Keep in mind that some casinos may require additional verification steps for credit card deposits.

Overall, the process of making a credit card deposit at an online casino is simple and user-friendly, making it a popular choice among players.

Pros

  • 1. Instant deposits ensure that players can start playing their favorite games right away.

    2. Widely accepted by many online casinos, providing a convenient payment option for players.

    3. Offers an added layer of security, as credit card transactions are often protected by fraud prevention measures.

    4. Can earn reward points or cashback on credit card deposits, depending on the card and casino.

    5. Allows players to easily track their spending by reviewing their credit card statements.

Cons

  • 1. Some credit card issuers may charge cash advance fees for casino deposits.

    2. Not all banks or credit card companies allow transactions to online casinos, leading to declined payments.

    3. Players may be tempted to overspend if using a credit card as a payment method.

    4. Potential for identity theft or fraud if credit card information is compromised.

    5. Withdrawals to credit cards may take longer to process compared to other payment methods.

Tips

  • 1. Check with your credit card issuer to ensure online casino transactions are allowed.

    2. Monitor your credit card statements regularly to track your spending at online casinos.

    3. Look for online casinos that offer rewards or cashback for credit card deposits.

    4. Set a budget for your online gambling activities to avoid overspending.

    5. Consider using a dedicated credit card for online casino transactions to track your gambling expenses separately.

    6. If experiencing issues with credit card deposits, consider alternative payment methods such as e-wallets or prepaid cards.

Examples or Use Cases

Many players around the world rely on credit card deposits to fund their online casino accounts. Whether you’re a casual player looking to enjoy some entertainment or a high roller seeking the thrill of big wins, credit card deposits offer a convenient and secure way to play your favorite games. From slot machines to table games, players can easily top up their accounts with a few simple clicks, allowing them to focus on the excitement of the game.

Payment/Costs (if relevant)

When using a credit card to make a deposit at an online casino, players should be aware of any potential fees or charges that may apply. Some credit card issuers may treat casino deposits as cash advances, resulting in additional fees or higher interest casino with credit card rates. It’s essential to review the terms and conditions of your credit card agreement to understand any potential costs associated with using your card for online gambling transactions.

Safety/Risks or Best Practices

While credit card deposits offer convenience and speed, it’s essential for players to prioritize their safety and security when making online transactions. To minimize risks, players should only use reputable online casinos that employ advanced encryption technology to protect sensitive financial information. Additionally, players should regularly monitor their credit card statements for any unauthorized charges or suspicious activity. If you ever suspect fraudulent activity on your credit card, contact your issuer immediately to report the issue and protect your account.

Conclusion

Credit card deposits are a popular choice for online casino players around the world, offering instant transactions and secure payment options. By understanding the pros and cons of using credit cards for online gambling, players can make informed decisions to enhance their gaming experience. Remember to follow best practices for safety and security while enjoying the convenience of credit card deposits at your favorite online casinos.

FAQs

Q1: Can I use any credit card to deposit at online casinos?

A1: While many online casinos accept a wide range of credit cards, some issuers may restrict transactions to gambling sites. Check with your credit card issuer to ensure online casino deposits are allowed.

Q2: Are there any fees associated with using a credit card for online casino deposits?

A2: Some credit card issuers may treat casino deposits as cash advances, resulting in additional fees or higher interest rates. Review your credit card agreement for any potential costs.

Q3: How quickly will my credit card deposit appear in my online casino account?

A3: Credit card deposits are typically processed instantly, allowing players to start playing their favorite games right away.

Q4: Can I withdraw my winnings to my credit card?

A4: While some online casinos allow withdrawals to credit cards, the processing time may be longer compared to other payment methods.

Q5: What should I do if I suspect fraudulent activity on my credit card?

A5: If you notice unauthorized charges or suspicious activity on your credit card, contact your issuer immediately to report the issue and protect your account.

Casinos That Accept Credit Card Deposits: Regional Rules

Introduction

For those looking to dive into the world of online gambling, knowing which casinos accept credit card deposits is crucial. While many players prefer the convenience and security of using their credit cards to fund their accounts, it’s important to be aware of the regional rules and regulations that govern these transactions. In this article, we’ll explore the core concept of credit card deposits at online casinos, how they work, the pros and cons, practical tips, and examples of use cases. We’ll also touch on payment/costs, safety considerations, and conclude with some frequently asked questions. Let’s dive in!

Core Concept

Credit card deposits are a popular method for funding online casino accounts. This payment option allows players to transfer funds from their credit card to their casino account quickly and conveniently, enabling them to start playing their favorite games without delay. Many online casinos accept credit card deposits, making it a convenient choice for players around the world.

How It Works or Steps

  • 1. Select the credit card deposit option on the casino’s payment page.

    2. Enter your credit card information, including the card number, expiration date, and CVV code.

    3. Choose the amount you wish to deposit and confirm the transaction.

    4. The funds will be instantly credited to your casino account, allowing you to start playing immediately.

    5. Keep in mind that some casinos may require additional verification steps for credit card deposits.

Overall, the process of making a credit card deposit at an online casino is simple and user-friendly, making it a popular choice among players.

Pros

  • 1. Instant deposits ensure that players can start playing their favorite games right away.

    2. Widely accepted by many online casinos, providing a convenient payment option for players.

    3. Offers an added layer of security, as credit card transactions are often protected by fraud prevention measures.

    4. Can earn reward points or cashback on credit card deposits, depending on the card and casino.

    5. Allows players to easily track their spending by reviewing their credit card statements.

Cons

  • 1. Some credit card issuers may charge cash advance fees for casino deposits.

    2. Not all banks or credit card companies allow transactions to online casinos, leading to declined payments.

    3. Players may be tempted to overspend if using a credit card as a payment method.

    4. Potential for identity theft or fraud if credit card information is compromised.

    5. Withdrawals to credit cards may take longer to process compared to other payment methods.

Tips

  • 1. Check with your credit card issuer to ensure online casino transactions are allowed.

    2. Monitor your credit card statements regularly to track your spending at online casinos.

    3. Look for online casinos that offer rewards or cashback for credit card deposits.

    4. Set a budget for your online gambling activities to avoid overspending.

    5. Consider using a dedicated credit card for online casino transactions to track your gambling expenses separately.

    6. If experiencing issues with credit card deposits, consider alternative payment methods such as e-wallets or prepaid cards.

Examples or Use Cases

Many players around the world rely on credit card deposits to fund their online casino accounts. Whether you’re a casual player looking to enjoy some entertainment or a high roller seeking the thrill of big wins, credit card deposits offer a convenient and secure way to play your favorite games. From slot machines to table games, players can easily top up their accounts with a few simple clicks, allowing them to focus on the excitement of the game.

Payment/Costs (if relevant)

When using a credit card to make a deposit at an online casino, players should be aware of any potential fees or charges that may apply. Some credit card issuers may treat casino deposits as cash advances, resulting in additional fees or higher interest casino with credit card rates. It’s essential to review the terms and conditions of your credit card agreement to understand any potential costs associated with using your card for online gambling transactions.

Safety/Risks or Best Practices

While credit card deposits offer convenience and speed, it’s essential for players to prioritize their safety and security when making online transactions. To minimize risks, players should only use reputable online casinos that employ advanced encryption technology to protect sensitive financial information. Additionally, players should regularly monitor their credit card statements for any unauthorized charges or suspicious activity. If you ever suspect fraudulent activity on your credit card, contact your issuer immediately to report the issue and protect your account.

Conclusion

Credit card deposits are a popular choice for online casino players around the world, offering instant transactions and secure payment options. By understanding the pros and cons of using credit cards for online gambling, players can make informed decisions to enhance their gaming experience. Remember to follow best practices for safety and security while enjoying the convenience of credit card deposits at your favorite online casinos.

FAQs

Q1: Can I use any credit card to deposit at online casinos?

A1: While many online casinos accept a wide range of credit cards, some issuers may restrict transactions to gambling sites. Check with your credit card issuer to ensure online casino deposits are allowed.

Q2: Are there any fees associated with using a credit card for online casino deposits?

A2: Some credit card issuers may treat casino deposits as cash advances, resulting in additional fees or higher interest rates. Review your credit card agreement for any potential costs.

Q3: How quickly will my credit card deposit appear in my online casino account?

A3: Credit card deposits are typically processed instantly, allowing players to start playing their favorite games right away.

Q4: Can I withdraw my winnings to my credit card?

A4: While some online casinos allow withdrawals to credit cards, the processing time may be longer compared to other payment methods.

Q5: What should I do if I suspect fraudulent activity on my credit card?

A5: If you notice unauthorized charges or suspicious activity on your credit card, contact your issuer immediately to report the issue and protect your account.

China warns against interference in Nigeria’s affairs after US threat of military action

 

 

BREAKING‼️

 

China warns against interference in Nigeria’s affairs after US threat of military action

 

The Chinese government says it firmly supports the President Bola Tinubu administration as it “leads its people on the development path suited to its national conditions”.

 

Addressing a press conference on Tuesday, Mao Ning, spokesperson of China’s foreign ministry, said “as Nigeria’s comprehensive strategic partner, China firmly opposes any country using religion and human rights as an excuse to interfere in other countries’ internal affairs, and threatening other countries with sanctions and force”.

 

Ning was answering a question on US President Donald Trump’s threat of military action in Nigeria over alleged persecution of Christians.

Board warns Nigerians against fake paramilitary recruitment messages

 

 

The Civil Defence, Correctional, Fire and Immigration Services Board has warned Nigerians to beware of fraudulent recruitment messages circulating online, as the 2025 paramilitary recruitment exercise enters a crucial phase.

 

In a statement posted on its official X handle late Wednesday, the board clarified that it will not contact applicants through email or SMS, stressing that all legitimate updates are available only on its portal.

 

It urged applicants to visit the site to update their profiles and print examination slips, as part of the ongoing shortlisting process.

 

“CDCFIB will not send emails or SMS to applicants. Visit our portal, and once shortlisted, update your profile to print your examination slip.

“Follow the instructions carefully. Beware of scammers,” the Board said.

 

The CDCFIB’s warning follows the release of names of candidates shortlisted for the paramilitary agencies’ computer-based test.

In a statement on Wednesday, the secretary to the board, retired Maj.-Gen. Abdulmalik Jubril, urged candidates who applied for recruitment into any of the four paramilitary agencies to visit its official recruitment portal at https://recruitment.cdcfib.gov.ng from Thursday to check if they had been shortlisted.

 

“From Thursday, October 30, 2025, candidates are to check if they have been shortlisted for the next stage of the exercise, as well as centres for the Computer-Based Test (CBT).

 

“Shortlisted candidates are further requested to take note of the venue, date, as well as time scheduled for the CBT,” he said.

 

The statement enjoined applicants to take note of the correct portal address highlighted to avoid being scammed.

 

PUNCH Online reports that the agencies are the Nigerian Correctional Service, the Nigeria Immigration Service, the Federal Fire Service, and Nigeria Security and Civil Defence Corps.

EXPLAINER: How new tax laws affect Nigerians abroad

 

 

The Presidential Fiscal Policy and Tax Reforms Committee has released detailed clarifications addressing concerns by Nigerians in the diaspora about the new tax reforms taking effect in 2026.

 

This was disclosed in a material obtained by PUNCH Online on Thursday from the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele.

 

According to the document, “genuine personal transfers such as family remittances, gifts, refunds (e.g., flight tickets), or community savings contributions are not treated as taxable income.”

 

It explained that “only income earned or deemed to be income (e.g., wages, business profits, investment returns) is subject to tax,” adding that “every individual is required to self-report their income and pay tax where applicable.”

On double taxation, the committee clarified that “income earned abroad and brought into Nigeria by a non-resident individual is now specifically exempted from tax in Nigeria regardless of whether tax was paid abroad or not.”

 

It added that “Nigeria has Double Taxation Agreements (DTAs) with several countries, and the new tax laws provide for a unilateral relief where a DTA does not exist to ensure that the same income is not taxed twice.”

 

Explaining how residency is determined, the statement said, “Residency is based on the 183-day rule (cumulative days of physical presence in Nigeria within a 12-month period). Non-residents are taxed only on income derived from Nigeria (e.g., rental income, dividends, business profits).”

 

The committee clarified that “diaspora Nigerians living abroad who are not tax resident in Nigeria are not taxed on their foreign employment or business income,” and that “dual citizenship has no impact on the tax status of an individual whether resident or non-resident in Nigeria.”

 

On investments, it noted that “income from investments in Nigeria are either exempt, subject to capital gains tax (CGT) or withholding tax as a final tax,” adding that “government bonds, including Sukuk are tax exempt.”

 

It further stated, “CGT applies to the sale of real estate other than sale of owner-occupied buildings. Shares are exempt up to proceeds not exceeding ₦150 million and ₦10 million gains in a year.

 

“Dividends, non-government bond interest and rental income are subject to withholding tax at 10% as final tax which may be reduced to 7.5% for recipients in certain countries such as the UK, South Africa and China.”

Addressing questions on pensions and remote work, the material noted that “only income that arises in Nigeria is taxable for non-residents. Pensions and stipends from abroad are not taxed in Nigeria unless received for work done in Nigeria.”

 

It added, “Remote workers are taxed based on the rules in the country where they are resident or earn such income, not merely where payment is made.”

 

On tax identification requirements, the committee explained that “a TIN is not required and there is no requirement to file tax returns unless you earn employment or business income from Nigeria.”

It continued, “Non-residents without Nigerian-source income are not obliged to file annual returns. Those with taxable employment or business income in Nigeria are required to file returns. Simplified channels (e.g., TaxProMax, online TIN applications) are available to ease compliance.”

 

“For individuals, a TIN can be obtained from the Joint Tax Board via https://tin.jtb.gov.ng. For companies, TIN is now automatically assigned at the point of registration with the Corporate Affairs Commission,” the committee said.

 

Regarding NGOs and diaspora-owned businesses, it stated that “NGOs are tax-exempt if they are registered and operate strictly for charitable purposes, and comply with reporting and filing requirements.”

 

“Diaspora-owned SMEs in Nigeria are treated like local businesses, taxed on profits but eligible for incentives and reliefs available to small enterprises,” the material added.

 

The document also noted that the reforms mandate transparency measures, including public reporting, governance structure and independent oversight for tax revenues.

 

“Other fiscal measures are being strengthened to link tax revenues to visible infrastructure and service delivery with safeguards against corruption and framework to prevent and punish misuse of taxpayer data,” it said.

 

On incentives, the committee explained that “incentives under the new laws apply generally to certain investments including diaspora-led investments in key sectors (e.g., priority sector incentives in agriculture, creative sector, manufacturing, etc.), SME corporate tax exemption threshold, exemption of VAT on real estate, etc.”

 

According to the Presidential Fiscal Policy and Tax Reforms Committee, reforms make the tax system in Nigeria fairer and more friendly to Nigerians in the diaspora, address incidence of double taxation, align Nigeria with global best practice, simplify and provide clarity where tax is payable or filing obligation is applicable.

Maresca slams Delap’s ‘foolish’ red card in Chelsea EFL Cup win

 

 

 

Chelsea manager Enzo Maresca, labelled Liam Delap’s red card as “very stupid” after the striker’s late dismissal overshadowed the Blues’ dramatic 4–3 Carabao Cup victory over Wolves.

 

Delap, making his return from a 10-week hamstring lay-off, was sent off just 26 minutes after coming on as a second-half substitute.

 

According to BBC Sports on Thursday, the 22-year-old picked up two yellow cards in quick succession, first for pushing Yerson Mosquera, then for barging into Emmanuel Agbadou, and will now miss Saturday’s London derby against Tottenham, with João Pedro already a fitness doubt.

 

When asked whether Delap deserved to be sent off, Maresca said, “Absolutely, yes. Stupid foul. We can avoid that.”

 

The dismissal came as part of a wider Chelsea collapse.

 

They built a 3-0 lead at the interval, but after the break Wolves scored three times, with Jamie Gittens’ sensational late strike enough to scrape the Blues into the quarter-finals to face Cardiff City.

Maresca added, “The three goals we conceded, I think all of them we can avoid. Certainly, we also received a very unnecessary red card today.

 

“After the first yellow card, I told him [Delap] four or five times to keep calm. But Liam is a player who, when he’s on the pitch, is probably playing the game for himself and struggles to realise and listen to those around him.”

 

It was Chelsea’s sixth red card in nine games, including Maresca’s own dismissal for celebrating a last-minute winner against Liverpool before the international break.

 

The Italian was asked to clarify whether he had wider concerns about indiscipline, with Chelsea also having received the highest number of yellow cards in the Premier League over the past three seasons.

 

He continued, “I completely understand when there are red cards like against Brighton [Trevoh Chalobah red] or Manchester United [Robert Sanchez red], that’s difficult, but the red cards against Nottingham Forest and today, both we can and have to avoid.

 

“It’s embarrassing when it’s a red card like today because it’s two yellow cards in five or 10 minutes. Both, I think, we can avoid. So it’s not good.”

Coup controversy: Military tracks N45bn in NDDC

 

 

 

Military investigation into the alleged coup plot has reportedly uncovered a trail of N45 billion disbursed from the bank accounts of the Niger Delta Development Commission to some politically exposed persons and the soldiers detained in connection with the rumoured conspiracy to topple President Bola Tinubu’s administration.

 

Earlier this month, Sahara Reporters reported that 16 Nigerian Army officers were detained for allegedly planning a coup d’etat to overthrow President Bola Tinubu.

 

The online newspaper had linked the alleged coup to the cancellation of Nigeria’s 65th Independence Day by the Federal Government.

 

However, the military, in a statement by the Director of Defence Information, Brig. Gen. Tukur Gusau, denied the report linking the detention of the16 military officers to a failed coup.

Multiple reports on Tuesday stated that some Nigerian Army personnel raided the Abuja residence of ex-governor Timipre Sylva, also a former Minister of State for Petroleum, in connection with the alleged coup plot currently under investigation by the Defence Intelligence Agency.

 

Sequel to the discovery, the Defence Intelligence Agency investigators grilled some top NDDC officials about the sources of the fund, beneficiaries and how it was utilised.

 

The development has set off panic alarms at the NDDC headquarters over alleged links to the financing of subversive activities.

 

The Federal Government had also denied the coup plot against Tinubu’s administration. The Defence Headquarters described reports of a coup attempt as “false, misleading, and malicious” and stated that 16 military officers in custody are being investigated for professional misconduct, not a coup plot.

 

While details of the interrogation of the NDDC officials remain unclear, investigators are said to be scrutinising a series of high-value transactions carried out in recent months allegedly linked to politically-exposed persons.

 

They include a shoreline project awarded to a former governor in the South-South to the tune of N45bn, some of which allegedly found its way to the account of some of the detained officers.

 

Security sources with knowledge of the ongoing probe confirmed that the interrogation of the NDDC top shots was “part of a broader intelligence-based inquiry into the movement of public funds.”

 

Sources in the NDDC disclosed to The PUNCH that many top officials are apprehensive that the development may trigger a broader probe into the commission’s financial dealings.

 

They affirmed that the invitation of the top NDDC executives had triggered widespread anxiety among senior officials.

According to one insider, who spoke on condition of anonymity, “Since the news broke about the interrogation of the top shots, the atmosphere here has been uneasy. Many directors are being cautious about their movements and communications.”

 

Some executive directors who maintain close administrative ties with the embattled NDDC top shots are said to be worried about the development.

 

The development has sparked intense speculation within the commission, with staff expressing concern that the investigation could widen and implicate other senior officials.

 

The NDDC spokesperson, Seledi Thompson-Wakama, declined comments when asked about the quizzing of the commission’s officials.

 

Meanwhile, Sylva has denied alleged involvement in the coup plot.

 

His Special Assistant on Media and Public Affairs, Chief Julius Bokoru, said the rumour in some quarters is the handiwork of ‘’desperate and self-seeking politicians trying to actualise their ambitions in 2027.’’

 

On Wednesday, The PUNCH reported how Sylva’s Abuja home was raided by Defence Intelligence Agency operatives probing the controversial plot to forcefully change the government.

 

During the raid, which took place on Saturday, the operatives arrested Sylva’s younger brother, Paga, who is his Special Assistant on Domestic Affairs and also took his driver into custody.

 

The former Bayelsa governor and All Progressives Congress chieftain was outside the country during the operation.

 

The media aide disclosed that the operatives did not remove anything from Sylva’s Abuja residence during the operation, noting that the two men that were arrested have yet to be released from custody.

 

Bokoru explained that no reason was provided for the raid. He further clarified that the former governor’s Yenagoa residence was not raided by the operatives.

He confirmed that Sylva and his wife, Alanyingi, were out of the country at the time.

 

Explaining their absence, Bokoru said Sylva was in the United Kingdom for routine medical checks and would soon be on his way to Malaysia to attend “a professional conference.”

 

He said, “It’s not true. It is the handiwork of people in the state APC who are concerned about their governorship ambition in 2027,” he stated.

“Those doing this are in the state APC. It is about the 2027 governorship ambition. They are appointees of the Federal Government and instead of focusing on their work, they are playing local toxic politics.

 

‘’Such wicked politicians took their desperation to a nauseating level following Sylva’s intimidating political presence and credibility that had continued to expose their self-serving ambitions and evil agenda.”

 

Bokoru also said Sylva’s driver, as well as his younger brother, Paga, who were whisked away by the operatives on Saturday, were yet to be released from custody.

 

He disclosed that the operatives of the Defence Headquarters did not remove anything from Sylva’s Abuja residence when they raided it last Saturday.

 

However, a close associate of Sylva told The PUNCH that several parts of the house were damaged following Saturday’s raid.

 

He said, “Expensive doors were destroyed while a number of other household appliances were ransacked and scattered during the raid but nothing incriminating was found.”

 

He dismissed allegations linking the Managing Director of the NDDC, Dr. Samuel Ogbuku, to Sylva as part of the coup plot.

 

Ogbuku was the Chief of Staff to Sylva while he was Bayelsa governor.

 

When contacted, Ogbuku denied he was arrested. In a short message to our correspondent, he said, “I’m not aware of such. Just the way you are seeing it is the same way I’m seeing it too on social media.”

 

Earlier, in a statement on Wednesday, titled, ‘Setting the record straight on recent false reports about Sylva,’ Bokoru denied Sylva’s reported involvement in the alleged coup plot.

 

He insisted that his principal was not involved in the planning or logistics of any coup.

 

The statement read, “In the past 48 hours, I have been inundated with calls from members of the press, political associates, and concerned individuals regarding a circulating report alleging that His Excellency, Chief Timipre Sylva, has “fled” the country in connection with certain purported matters.

 

“For the avoidance of doubt, it is true that the residence of His Excellency, Chief Timipre Sylva, was recently subjected to a raid by individuals believed to be operatives of the Defence Headquarters. During the said operation, considerable damage was inflicted upon the property.

 

“Despite sustained efforts, I have been unable to ascertain the reasons or authorisation for this raid. To the best of my knowledge, the officers involved did not provide any categorical explanation for their actions, either at the time or subsequently.

“It is important to state unequivocally that His Excellency, Chief Timipre Sylva, CON, and his esteemed wife, Her Excellency, Alanyingi Sylva, were both outside the country at the time of the incident.

 

“As at my last communication with His Excellency, he was engaged in a routine medical check-up in the United Kingdom, after which he was scheduled to proceed to Malaysia to attend a professional conference.

 

“The next development I was made aware of, regrettably, were reports circulating across social media and other platforms concerning the raid on his residence.

 

“While the Defence Headquarters has already debunked the swirling rumours of a coup in Nigeria, it is important to state emphatically that Chief Timipre Sylva, CON, has no involvement whatsoever—either in planning or in logistics—with any such plot.

 

“Chief Sylva is a thoroughbred democrat, whose entire political journey has been defined by his faith in democratic processes and institutions. From the 1990s, when he was first elected into the Old Rivers State House of Assembly, to his tenure as Governor of Bayelsa State, Sylva has achieved every milestone through transparent, democratic engagement and the will of the people.’’

 

The statement further added, “His unwavering support for President Bola Ahmed Tinubu is a matter of public record. It remains fresh in memory how he mobilized the entire Bayelsa APC structure to unanimously endorse President Tinubu at the APC Bayelsa Expanded Stakeholders’ Meeting.

 

“These rumours are nothing more than the handiwork of desperate and narcissistic politicians, already consumed by ambitions for 2027, who see Sylva as their last real obstacle—a man whose political presence and credibility continue to expose their dark, self-serving ambitions.”

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