TheNewsGuru

Tag: Deadline

  • Tax: VAIDS writes defaulting wealthy Nigerians, warns of March 31 deadline

    The Voluntary Assets and Income Declaration Scheme (VAIDS) office in the Federal Ministry of Finance has identified thousands of tax defaulters across the country and has written to them, requesting compliance before the expiration of the declaration period on March 31.

    According to the VAIDS office, the defaulters, mostly high net-worth individuals (HNIs), were identified through transaction, income and assets data obtained from a variety of sources. Following the identification process, the VAIDS office communicated with them via nudge letters to draw attention to their defective tax status.

    The letters, revealed the VAIDS office, has elicited positive responses from recipients, with many of them visiting or phoning the VAIDS office to request for more information on declaration and compliance.

    More letters are currently being sent out to other identified defaulters based on transaction data obtained from the Corporate Affairs, Federal Inland Revenue Service (FIRS), Central Bank of Nigeria, Nigerian Communications Commission (NCC), state governments, Nigerian Customs Service, land registries, as well as payment platforms such as Government Integrated Financial and Management Information System and Remita in the case of tax-defaulting companies.

     

  • Oct 1 Quit Notice: We won’t leave North by deadline – Resident Igbos

    Oct 1 Quit Notice: We won’t leave North by deadline – Resident Igbos

    …as Northern Youth Coalition reaffirms safety of Igbos in region

    The leadership of the Igbo community in the 19 Northern states has said that the Igbos will not heed to the call by an association of lawyers in Anambra State to leave the region by the October 1 deadline initially issued by the coalition of youth associations in the region.

    Vice President of Igbo Delegate Assembly in 19 Northern states, Chief Chris Nnoli said, the call by the so-called lawyers was not nationalistic and condemnable.

    Nnoli, a Lawyer expressed disappointment that his learned colleagues could make such call.

    He, however, assured that no Igbo man living in the north will heed such call insisting every Nigerian under the constitution of the country has right to live anywhere they feel like within the country.

    Nnoli who is also the President General of Igbo Community Welfare Association (ICWA) in Kaduna State said, October 1st remains Nigeria’s national day and they will all celebrate together as Nigerians.

    “We are not in support of such call and if lawyers actually made such call, because I also read the story in a national daily, then it is very unfortunate and are not going heed to it”, he said.

    In a related development, Shettima who also reacted to the call by the lawyers asking the Igbos in the north to return home before October 1st to avoid been caught unaware as it happened in 1966.

    According to the Northern youths coalition leader, the lawyers asking the Northern-based Igbos to return home at the period are mischief makers and enemies of Nigeria.

    According to Shettima, “we are people of honour and respect. We honour our words. So, Igbos in the north can go about their normal business and they should not listen to mischief makers.

    “We have sensitised our members to ensure safety of every Nigerian, especially the Igbos and we can assure you that, nothing will happen to the Igbos by October 1st and even beyond”, Shettima assured.

  • SEC extends deadline for issuance of dividend warrants to Dec. 31

    SEC extends deadline for issuance of dividend warrants to Dec. 31

    The Securities and Exchange Commission (SEC) has extended the deadline for stoppage of issuance of physical dividend warrants in the nation’s capital market to Dec. 31, 2017.

    Mr Naif Abdussalam, SEC Head, Corporate Communications disclosed this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Lagos.

    Abdussalam said that the deadline was extended to give room for investors to key into the e-dividend payment platform.

    He told NAN that the extension became necessary to perfect the commission’s rules on issuance of dividend warrants that was exposed to the public a week ago.

    Abdussalam stated that the commission’s issuance of dividend warrants would be a thing of the past by Dec. 31, 2017, with the amendment of the rules and keying into the e-dividend payment platform by more investors.

    NAN reports that SEC had in 2016 announced June 30, 2017, as deadline for issuance of physical dividend warrants to shareholders by quoted companies to tackle unclaimed dividends and mitigate the risks associated with warrants.

    He also said that SEC had extended the underwriting cost of investors e-dividend registration to Dec. 31, 2017, from against the earlier underwriting deadline of June 30, 2017.

    Abdussalam said that the deadline was also extended to give room for enrolment of more investors in the e-dividend payment platform.

    “E- dividend simply refers to an online system of paying dividends to investors when companies declare dividends, which are the profits meant for investors, rather than send it by post, they will just wire it to the investor’s bank account.’’

    He stated that the commission’s decision to continue to underwrite the cost till Dec. 31, was part of its developmental role to curb the menace of unclaimed dividend.

    The commission’s spokesman said that the e-dividend would strengthen the KYC of all investors in the capital market to curb unclaimed dividend and stoppage of unauthorised sale of shares in the market.

    Abdussalam added that loss of dividends would be a thing of the past with the e-dividend payment platform.

    He said that the commission would continue to leverage on the BVN initiative of the Central Bank of Nigeria (CBN) to boost investors’ confidence in the nation’s capital market.

    NAN reports that Mr Mounir Gwarzo, SEC Director-General at the Capital Market Committee meeting in May said that 2.2 million investors had mandated their accounts for the e-dividend payment policy as of April 30, 2017.

    He stated that the commission would urge all listed companies to participate in the on-going enlightenment campaign on e-dividend by informing their shareholders at Annual General Meetings (AGM) on the processes put in place to increase the figure.

    Gwarzo explained that the e-dividend form could be obtained and properly filled at bank branches or in the office of a registrar and stock broking firms, or could be downloaded and filled by individuals.

    He added that the major aim of the e-dividend payment system was to curb unclaimed dividends in the market, noting tha unclaimed dividend figure was reducing due to the e-dividend.

    NAN also reports that major shareholder groups in the capital market had been calling for the extension of the deadline to allow more investors to embrace the initiative.

     

    NAN