Posted on May 25, 2009 by Fortune&Class
Tax Evasion! Adenuga May Have Problems With Foreign Banks
A feel of public opinion immediately after the publication of the damning news of company income tax evasion by Continental Oil and Gas and Conoil Producing, two upstream oil companies belonging to Otunba Mike Adenuga Jr., was that the $610million (N89billion) tax demand the Federal Inland Revenue [...]
Filed under: BusinessNEWS | Tagged: 2004, Aba Textile Mills Plc, adeleke adebayo, Africa Equity Fund, Africa's most populous country, African markets, Agusto & Co, Asaba Textile Mills Plc, average overdraft interest rates per annum, Ayo Salami, Bank and Other Financial Institutions Act, banking industry, banking sector, banking transactions in Nigeria, BCN Plc, Beverages & Tobacco Sector, brewing, bumper state oil revenues, business entities, business etiquette, Business News, capital oil plc, capital position, capoil, CBN, cement, Central Bank of Nigeria Minimum Rediscount Rate, Cheque Booklet Fee and Transaction Alert Fee, Christlieb Plc, commercial bank, Commission On Turnover (COT), competitive pricing pressures, conoil producing, construction, continental oil and gas, corporate attorneys, corporate result, credit, daily official list, delisted firms, deposit funds, Duet's African Opportunities Fund, Earnings Per Share, epfr global, Epic Dynamic Plc, erastus akingbola, ethics, excess overdraft interest, excess unattached five per cent VAT, Excess-Bank Draft Fee, Excess-Commission on Turnover, extraordinary general meeting, federal inland revenue service, Femi Ogbiyele, Ferdinand Oil Mills Plc, fibre network, finance house, financial institutions, food, footwear sector, Footwears & Accessories Plc, foreign banks, Foreign Fund Managers, Foreign Trade & Exchange Policy Circular No. 37 of January 02, forensic consulting, Forensic Consulting Consultants, fortune and class limited, fortune&class magazine, fortune&class weekly, fund tracker, global financial turmoil, Guide to Bank Charges and other provision of monetary policies, Healthcare Sector, hottest investment destinations, illegal loan recovery commission, Illegal-Lease Fee, Illegal-Overdue Charges, income tax, independent shareholders association of nigeria, Industrial/Domestic Products, intercontinental bank plc, interest on overdrawn balances, interest rate, international financial market, Investec's Horne, Investments and Securities Tribunal, isan, John Mackie, lack of evidence30 illegal fund managers, law, Lease Facility principal sum, Liz-Olofin & Company Plc, margin account, mathew azu, micro finance bank, MINIMUM REDISCOUNT RATE, Mr. Femi Fabamwo, Multi-Links Nigeria, national coordinator, Nigeria's respected rating company, nigerian operation, Nigerian operations, nigerian stock exchange, Nigerian stock market, Oluwa Glass Company Plc, Other identified excess charges, other West African countries, otunba mike adenuga, Price to Earning Ratio, profit after tax, proshare analyst services, proshare investigation, proshare ni, proshare nigeria, proven insight consultants limited, recoup funds, retail, reuters, Roelof Horne, roy bassey ukoh, Securities and Exchange Commission, shareholders, Sir Sunny Nwosu, South African Rand, specialized bank, Stanlib, sterling bank plc, stock brokers, stockbroking firms, stranded investors, Swap Technologies & Telecoms Plc, tax evasion, telecom infrastructure sub-sector, telecommunications, telkom, Telkom Media, Textiles Sector, The Monetary, total bank charges, true bond energy limited, unity bank, unity bank plc, upstream oil companies, value of returned cheques/reversals uncovered, Vetiva Capital Management Ltd, Vodacom 2010 demerger, Vodacom black economic-empowerment deal, Vodacom Group, wonder bank | Leave a Comment »
Posted on May 17, 2009 by Fortune&Class
This week on your Fortune&Class Magazine;
FIRS SEALS ADENUGA’S OIL COMPANIES OVER N89 BILLION TAX EVASION
It would sound rather ironical that the totality of the Nigerian state has been compelled to reconsider the structure of its national budget which has a built-in 500 million dollar deficit financing plan, about 30 per cent of the national budget, [...]
Filed under: BusinessNEWS | Tagged: 2009 financial year, access bank shares, adelani ajanaku, Agric – Business, ahmad zuaiter, ahmed lawan, aig-imoukhuede, alert mandate, alhaji aliko dangote, all-share index, analyst, backroom transaction, bassey e.e., bgl, Business News, cisco, conoil plc, conoil producing limited, continental oil and gas, continental shelf block, corporate communications department, dangote oil and gas, deficit financing plan, diamond bank plc, dimension data, EFCC, Federal Government, federal government agency, federal inland revenue service, femi awoyemi, firs, geroge SOROS, global economic meltdown, global financial meltdown, goodluck jonathan, institutional players, interest, investing public, investors, kajola integrated investment plc, Kajola Microfinance Bank, KJL Microfinance Bank Limited in Osogbo, making money in the nigeria capital market, marina securities, market capitalization, market investor, meristem securities, Microfinance Banking, Mike Adenuga, mike okoli, mohammed buba, national budget, national headquarters, nigeria's unofficial richest man, nigerian stock exchange, Nigerian stock market, nitel, Oil & Gas, oil blocks, oil prospecting licences, Olusegun obasanjo, penalties, petroleum equalisation fund, placement memorandum, portfolio manager, presisency, private placement, proshare nigeria, Real Estate Development, sanctions, sanjay mansur, sat 3, shareholders' funds, shariff atta, shortfall, soros management funds, south atlantic 3/west africa submarine cable, state securities services, sudden upwardtrending, tax collection, tax evasion, tax officials, tom iseghoni, Tourism / Hotel Development, transcorp md, western world | 1 Comment »
Posted on May 13, 2009 by Fortune&Class
The controversy generated in consequence of an Access Bank Plc customer accusation of stealing and cheating against the bank in description of what the customer, Messrs Abivico Investment & Promotions Company ascribed to illegal and excess bank charges and the part admittance of the accusation of the customer by Access Bank may provide the basis [...]
Filed under: BusinessNEWS | Tagged: access bank, advisory & consultation fee, CBN, commitment fee, duty to keep customer's account accurate, excess bank charges, forensic consultant, forensic consulting, guide to bank charges, law of banking in nigeria, management fee, messrs abivico investment & promotions company, Ori Adeyemo, processing and renewal fee, prudential guidelines, restructuting fee | Leave a Comment »
Posted on May 13, 2009 by Fortune&Class
The exposition of the brazen breach of basic business transaction procedure by Vista International Limited, a company described as the largest paper products distributor in Nigeria, may not be the only factor that qualifies the company to be listed in the nation’s class of white collar infamy. Here.
Filed under: BusinessNEWS | Tagged: adedotun ajiboye, anoop viryani, dev viryani, fortune&class weekly, indians, tolaram group, tony uzurigbo, vaswani brothers, vista international, white collar infamy | Leave a Comment »
Posted on May 13, 2009 by Fortune&Class
With the public chastising of Conoil Plc last Wednesday by members of the Senate Committee on Public Account, an uncanny connect was established between the arrest and brief detention of Dr. Mike Adenuga by the Economic and Financial Crimes Commission in November 2006 and the culpability of his oil company, Conoil Plc in withholding statutory [...]
Filed under: BusinessNEWS | Tagged: conoil nigeria, conoil petroleum, conoil plc, economic financial crimes commission, federal inland revenue services, Mike Adenuga, mike adenuga's oil company, petorleum equalisation fund, sanjay mansur, senate committee on public account, senatot caleb zagi, umar musa yar'adua | Leave a Comment »
