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Reps Summon Revenue Generating Agencies Over Non-Remittance of Taxes

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House of Reps Session

By Adedapo Adesanya

The House of Representatives Committee on Public Accounts has summoned the Nigeria Customs Service (NCS), the Federal Inland Revenue Service (FIRS), and the Oil and Gas Free Zone Authority (OGFZA) over allegations of non-remittance of taxes to the federation account.

The resolution followed an interactive session with major stockholders in the oil sector at the National assembly.

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Members of the committee sought to know if Tenaris Global Services Nigeria Ltd remitted taxes to the relevant government agencies.

The company appeared before the House Committee following a petition by the Office of the Auditor General of the Federation against its perceived sharp practices.

The Chairman of the committee, Mr Oluwole Oke, while tackling the representatives of the company lamented that most of the oil companies in the zone were deliberately shortchanging the federal government with the connivance of government agencies.

Mr Oke said that the relevant government agencies would be invited to give more insight into the tax compliance status of the company at the next public hearing.

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He declared that the committee was not out to witchhunt the companies but rather acting on the petition received from the appropriate quarters for the government which must be thoroughly investigated by the parliament.

Other agencies that appeared before the committee included the Federal Character Commission and the Bureau of Public Procurement who submitted various departments for the defence of the various queries raised against them by the Auditor-General of the Federation.

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Power Black Aims to Disrupt Nigerian Energy Drinks Market

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Power Black Energy drink

By Adedapo Adesanya

Power Black Energy drink, a Turkish energy drink with a presence in over 35 countries across Europe, Asia, Africa and the Middle East, has landed in Nigeria, being the first and only energy drink in Nigeria with a hygienic cover.

Speaking at a recent launch, the Marketing Manager of Frisson Nigeria Limited, the sole distributor of Power Black Energy Drink in Nigeria, Mr Ojotobor Samuel, said Power Black Energy Drink is a premium energy drink that offers Nigerians needed the power to achieve their goals with class and finesse.

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Mr Ojotobor said as the first and only energy drink with a hygienic cover in Nigeria, Power Black seeks to encourage healthy consumption of energy drinks whereby consumers do not have to finish the can of drink at a go as it can be preserved with the hygienic cover all day long.

The Frisson Nigeria boss said Power Black Energy Drink is made with clean water, sugar glucose syrup, carbon dioxide, acidity regulator (Citric acid & Sodium citrate), Taurine, Vitamins B2, B3, B5 and B6. These ingredients, according to him enrich the human body with desired energy and account for the positive effect on the cognitive performance of every individual.

He added that there is no negative side effect to Power Black energy drink if consumed in moderation and advised Nigerians that it is healthy to consume everything, including water in moderation.

Validating the claims of the distributing firm, a representative of the manufacturer, Ares Gida Manufacturing-Turkey, Mr Recep Yildiz said Power Black Energy drink is made with finest of ingredients and purest of water and it guarantees good health and energy for Nigerians.

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He added that the brand is the leading brand in the energy drinks market of countries like Spain, Germany, United Arab Emirates, Kuwait, Qatar, Jordan, Chad, Ghana, Ivory Coast and Mali.

As the latest entrant in the Nigerian market, the company has noted that the brand will soon take its leadership position in Nigeria.

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Konga represents stretch factor in Nigerian e-commerce – Ibukun Awosika

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1642538704 Ibukun Awosika

Mrs. Ibukun Awosika, a serial entrepreneur and former Chairman, First Bank of Nigeria Plc., has hailed Konga, Nigeria’s leading composite e-commerce giant as a stretch factor that has taken on and surmounted huge challenges, while positively disrupting the face of e-commerce in Nigeria.

She made the call on Saturday, January 15, 2022, at the Konga Group’s retreat held at the impressive Yudala Heights on Idowu Martins, Victoria Island, Lagos

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Awosika, who was one of the special guests at the half-year business review retreat organized by Konga, heaped praises on the e-commerce giant for bouncing back from a potential exit in 2018 after acquisition by the Zinox Group and restoring hopes among millions of Nigerians in the viability of the e-commerce industry.

‘‘This has proven that we have globally experienced entrepreneurs with capacity to alter our economic destinies. In your journey in life, there are many who would say you cannot do it. But do not pay heed to them. Konga has proved this axiom by showing that nothing is impossible when you set your mind to it. Today, many of us are witnesses to the impressive strides recorded by the company in the e-commerce industry, coming from a near-exit in 2018 to eventually turning profitable.’’

While assessing the resilience, huge strength and adaptability that has seen Konga thrive in a difficult terrain, as well as the huge ambition driving the brand, Awosika drew fitting analogies with quality fabric which often recover to its starting point after being stretched – a process used by garment and furniture makers in working out the stretch factor of individual fabric.

Addressing Management and staff at the session, she said: ‘‘In my opinion, Konga is a stretch factor and a great ambassador for Nigerian e-commerce. I urge you all to remember that as employees, you are the face of the brand and must carry this with mandate with responsibility everywhere you go,’’ she stated.

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Her thoughts were echoed by Mr. Funso Akere, Chief Executive, Stanbic IBTC Capital, who equally identified Konga as a potential leader of African e-commerce, in view of its high ethical standing, current growth trajectory and perception among interested investors.

Konga

‘‘There is a huge opportunity for Konga to assume leadership of the African e-commerce space and sustain it comfortably from what I have experienced. You have a brand that is highly respected, known for its zero-tolerance for unethical practices and one that is growing at a fast pace. There are four things investors look at. First is, the opportunity. The second is the ambition – how big it is. Third is the skills – what are the human resources or assets available and the fourth is the execution or what you would call the process. Under process, you talk about governance and control.

‘‘Konga has done very well in these areas and it is no surprise that some of the biggest investors in the world are interested in the business,’’ he concluded.

In his closing remarks at the exciting two-day retreat which witnessed excellent presentations and thought-provoking conversations, Co-CEO, Konga Group, Nick Imudia, who declared 2022 as the year of partnerships, reiterated the unwavering determination of the entire Management and staff of the company in keeping up the pace of Konga’s fast-paced growth in the e-commerce industry.

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... Konga represents stretch factor in Nigerian e-commerce – Ibukun Awosika Read More on ... Nairametrics.

Source: NairaMetrics

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