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ZENITH BANK ACTIVATES THE SPIRIT OF CHRISTMAS WITH AJOSE ADEOGUN STREET LIGHT-UP

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ZENITH BANK ACTIVATES THE SPIRIT OF CHRISTMAS WITH AJOSE ADEOGUN STREET LIGHT-UP

ZENITH BANK ACTIVATES THE SPIRIT OF CHRISTMAS WITH AJOSE ADEOGUN STREET

LIGHT-UP

The yuletide season has come to life in Lagos with the 2021 Zenith Bank Christmas Light-Up
Ceremony, which held at the Ajose Adeogun Street Roundabout, Victoria Island, Lagos, on
Saturday, November 20 2021.
With the theme “Let There Be Light”, this year marks the 15th edition of the traditional Light-up
Ceremony at the Ajose Adeogun Roundabout. Following the onset of the Coronavirus (COVID-19)
pandemic, which stopped the annual event from holding last year, this year’s ceremony is indeed a
momentous and significant one as it signals the return of what could be described as a spectacle
that has come to be recognized by not only Lagosians but Nigerians in general as an iconic place
and tourist attraction because of the beautiful decorations adorning the length and breadth of Ajose
Adeogun Street – home to Zenith Bank’s Headquarters, during the yuletide season.
The official lighting ceremony, which was performed by the Group Managing Director/CEO of
Zenith Bank Plc, Mr. Ebenezer Onyeagwu, supported by Executive Management, saw thousands
of the Bank’s staff and customers joining virtually and through the Bank’s social media platforms.
Speaking during the ceremony, Onyeagwu praised Quantum, the company responsible for the
annual decorations, for the very outstanding, gorgeous and extremely beautiful work that they have
done this year. In his words, “each year when we come in, and we see the decorations, I keep
asking myself what next? Would there be something better than what we have seen and I see that
at the end of every season, they come up with innovations and creativity, and they make it even far
better and take it to a higher level”.
Onyeagwu expressed his delight that this year’s Light-up Ceremony is able to hold following the
cancellation of last year’s edition due to the COVID-19 pandemic and the EndSARS protests.
According to him, “last year was a very unusual year. Covid threw a curveball at humanity, and as
a result, it changed the way we engaged and the way we live; it transformed so many other things,
and as a country, we had some unique challenges. As a result of those challenges, especially the
EndSARS protest, last year we couldn’t light up, not because there was no money. It was because
we had to grapple with Covid-19, and again during the EndSARS protest, the fittings that we
employ in having this light-up were terribly vandalized, and it required time and resources for us to
put it together. We didn’t want to have any undue exposure or create vulnerability. Therefore we
had to allow time to put the fittings back, and as soon as we have put it back, here we are today”.
He noted that Zenith Bank is very happy to be able to reconnect with activating the spirit of
Christmas, with the return of the annual turning on of the Christmas lighting and the decorations of
  • Ajose Adeogun Street, which can compare and compete with any decorations anywhere in the
    world – be it in Europe, North America, or Asia.
    Whilst wishing everyone a Merry Christmas filled with joy, love, peace and harmony, he enjoined
    all to remember that Christmas is also a time for sober reflection when we think about things that
    we couldn’t do and focus our thoughts on being better people and building a better society and
    country. He also used the opportunity to remind Nigerians and the whole world in general that the
    fight against COVID-19 is far from over. He, therefore, appealed to everyone that as “we celebrate
    Christmas, we should celebrate responsibly, maintain social distance, wear our masks and for
    those of us who haven’t been vaccinated, please take your vaccine for vaccination is saving lives”.
    The Light-Up Ceremony is one of the many Corporate Social Responsibility and Sustainability
    Initiatives of Zenith Bank, as the Bank continues to lead in corporate social responsibility (CSR)
    contributions and spending by Nigerian financial institutions. Indeed, Zenith Bank has clearly
    distinguished itself in the Nigerian financial services industry as an institution that is committed to
    building a more sustainable and inclusive economy and one that promotes responsible business
    practices in Nigeria through the integration of sustainability principles in its business operations.
    Zenith Bank’s sustainability and CSR initiatives are hinged on the belief that today’s business
    performance is not all about the financial numbers – the Bank believes that an institution’s social
    investments, contributions to inclusive economic growth and development as well as improvements
    in the condition of the physical environment, all constitute a balanced scorecard.
    Through its CSR initiatives, the Bank has embodied the overarching objective of the 17 SDGs,
    which provide a framework for addressing the major challenges confronting our society. Its social
    investments are targeted at health, education, women and youth empowerment, sports
    development and public infrastructure enhancement. Overall, Zenith Bank’s total social
    investments in 2020 stood at NGN3.29 billion ($8.62million), representing 1.66 per cent of its Profit
    After Tax.
    The Bank remains committed to furthering the economic, cultural and social development of host
    communities, particularly through community-based initiatives and philanthropy. As a good
    corporate citizen, it continues to deliver projects that have long-term social and economic benefits
    for the communities because it believes that its business is only as strong as the communities in
    which it operates.
    To demonstrate its commitment to creating and expanding opportunities, the Bank regularly makes
    donations towards the setting up of ultramodern ICT centres in several educational institutions
    across the country. It also supports various developmental projects, and healthcare delivery
  • causes in Nigeria and contributes to the development of sports in Nigeria through its sponsorship
    of the Zenith Women Basketball League and the Zenith Bank Delta State Principals’ and
    Headmasters’ Football Competitions, to mention a few.
    The Bank also demonstrates leadership when its host communities deal with a crisis. For example,
    following the unfortunate gas explosion incident of March 15, 2020, which led to the loss of lives
    and properties at the Abule-Ado area in Amuwo Odofin Local Government Area of Lagos State,
    Zenith Bank made a donation of NGN100 million to the Emergency Relief Fund set up by the
    Lagos State Government for the victims of the explosion.
    Amidst the COVID-19 pandemic, Zenith Bank’s commitment to sustainability has not waned, as the
    Bank donated NGN1 billion as part of the Coalition Against COVID-19 (CACOVID), a private
    sector-led initiative to support the Nigerian Government to combat the Covid-19 crisis
    ZENITH BANK ACTIVATES THE SPIRIT OF CHRISTMAS WITH AJOSE ADEOGUN STREET LIGHT-UP

Business

Deadline of Compliance: Nigeria’s Urgent Call for Tax Return Filing

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Deadline of Compliance: Nigeria’s Urgent Call for Tax Return Filing

By George Omagbemi Sylvester | Published by SaharaWeeklyNG.com

“Shift or Structural Demand? A Declaration of Civic Duty in a Nation at a Fiscal Crossroads.”

In the unfolding narrative of national development and economic reform, few instruments are as defining as tax compliance. For Nigeria, a nation perpetually grappling with revenue shortfalls, structural dependency on a single export commodity, and entrenched informal economic behaviour, the Federal Government’s recent clarification on tax return deadlines is not mere bureaucratic noise. It is a deliberate and inescapable declaration: the social contract between citizen and state must be honoured through transparent, lawful and timely tax reporting.

At its core, the government’s pronouncement is stark in its simplicity and radical in its implications. Federal authorities, speaking through the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, have made it unequivocally clear that every Nigerian, whether employer or individual taxpayer, must file annual tax returns under the law. This encompasses self-assessment filings by individuals that too many assumed ended once employers deducted pay-as-you-earn taxes from their salaries.

This is not an optional civic suggestion, it is mandatory, backed by statute, and tied to a broader vision of national fiscal responsibility. Citizens can no longer hide behind ignorance, apathy, or false assumptions. “Many people assume that if their employer deducts tax from their salaries, their obligations end there. That is wrong,” Oyedele warned, emphasizing that the obligation to file remains with the individual under both existing and newly reformed tax laws.

The Deadlines and the Reality They Reveal.
Across the federation, state and federal revenue authorities have reaffirmed statutory deadlines in pursuit of compliance. The Lagos State Internal Revenue Service, for instance, moved to extend its filing date for employer returns by a narrow window, reflecting the reality that compliance often lags behind legal timelines. The extension was intended not as leniency, but as a pragmatic effort to allow accurate and complete submissions, underscoring that true compliance rises above mere mechanical ticking of a box.

At the federal level, Oyedele’s intervention was even more fundamental. He reminded Nigerians that annual tax returns for the preceding year must be filed in good faith, with integrity and in respect of the law. This applies regardless of income level including low-income earners who have historically believed that they are outside the tax net. “All of us must file our returns, including those earning low income,” he stated.

Herein lies one of the most challenging truths of contemporary Nigerian governance: widespread tax non-compliance is not just a technical breach of law, it is a deep cultural and structural issue that reflects decades of mistrust between citizens and the state.

The Root of the Problem: Non-Compliance as a Symptom.
Nigeria’s tax culture has long been under scrutiny. Public discourse and economic analysis consistently show that a significant majority of eligible taxpayers do not file annual returns. Oyedele highlighted that even in states widely regarded as tax administration leaders, compliance remains strikingly low, often below five percent.

This widespread non-compliance stems from multiple sources:

A long history of weak tax administration systems, where enforcement was inconsistent and penalties were rarely applied.

A perception that public services do not reflect the taxes collected, eroding the citizenry’s belief in reciprocity.

An informal economy where income often goes unrecorded, making filing seem irrelevant or impossible to many.

Lack of awareness, with many Nigerians genuinely believing that tax liability ends with employer deductions.

The government’s renewed push for compliance directly challenges these perceptions. It signals a shift from voluntary or lax compliance to structured accountability, a stance that aligns with best practices in modern public finance.

Why This Matters: Beyond Deadlines.
At its most profound level, the insistence on tax return filings is about nation-building and shared responsibility.

Scholars of public finance universally agree that a robust tax system is the backbone of sustainable development. As the eminent economist Dr. Joseph E. Stiglitz has observed, “A society that cannot mobilize its own resources through fair taxation undermines both its government’s legitimacy and its capacity to provide for its people.” Filing tax returns is not a mere administrative task, it is a declaration of participation in the collective project of national advancement.

In Nigeria’s context, this declaration carries weight. With the enactment of comprehensive tax reforms in recent years (including unified frameworks for tax administration and enforcement) authorities now possess broader statutory tools to ensure compliance and accountability. These measures, which include electronic filing platforms and stronger enforcement powers, have been framed as fair and equitable, targeting efficiency rather than arbitrariness.

Yet the success of these reforms depends heavily on citizens embracing their civic duties with sincerity. And this depends on mutual trust, the belief that paying taxes yields tangible benefits in infrastructure, education, healthcare, security and social services.

Voices From Experts: Fiscal Responsibility as a Public Ethic.
Tax law experts and economists, reflecting on the compliance push, have underscored a universal theme: taxation without transparency is inequity, but taxation with accountability is empowerment. When managed with fairness, a functional tax system can reduce dependency on volatile revenue sources, stabilise national budgets, and support long-term investment in human capital.

Professor Aisha Bello, a respected authority in fiscal policy, notes that “Tax compliance is not a burden; it is the foundation upon which social contracts are built. A citizen who honours tax obligations affirms the legitimacy of governance and demands better performance in return.”

Similarly, a leading tax scholar, Dr. Emeka Okon, argues that “The era when Nigerians could evade broader tax responsibilities simply because automatic deductions occur at source must end. For a modern economy, every eligible citizen must be part of the formal tax fold not as victims, but as stakeholders.”

These authoritative voices point to an unassailable truth: filing tax returns is both a legal requirement and a moral responsibility, an expression of citizenship in its fullest sense.

Challenges on the Ground: Compliance and Capacity.
While the rhetoric of compliance is compelling, the reality on the ground demands nuanced understanding. Many taxpayers (especially in the informal sector) lack meaningful access to digital platforms and resources for filing returns. For others, the fear of bureaucratic complexity and perceived punitive enforcement deters participation.

The government, for its part, has responded by promoting online systems and pledging greater taxpayer support. Tax authorities are increasingly engaging stakeholders to demystify filing processes, explain requirements and offer assistance. This mix of enforcement and facilitation is essential. As one seasoned revenue specialist observed: “The state cannot compel compliance through force alone; it must earn it through education, simplicity and fairness.”

The Broader Implication: A New Social Compact.
Ultimately, Nigeria’s renewed emphasis on tax return filing transcends administrative deadlines. It is an unequivocal declaration that national development is a shared responsibility, that citizens and state must engage in a transparent, accountable, and reciprocal relationship.

Tax compliance, therefore, becomes far more than a legal act; it becomes a moral claim on the nation’s future.

When citizens file their returns honestly, they affirm their stake in the nation’s destiny. When the government collects taxes transparently and deploys them effectively, it strengthens not only public services but civic trust itself.

In this sense, the deadlines proclaimed by Nigeria’s fiscal authorities mark not an end but a beginning; the beginning of a civic epoch in which accountability replaces apathy, participation replaces indifference and national purpose triumphs over fragmentation.

The road ahead will not be easy. But in demanding compliance, Nigeria is demanding more than tax returns. It is demanding commitment and that, ultimately, is the foundation on which nations are built.

 

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BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025

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BUA FOODS PLC RECORDS 101% PROFIT GROWTH IN H1 2025, CONSOLIDATES LEADERSHIP IN NIGERIA’S FOOD SECTOR …Revenue Rises to ₦912.5 Billion; PBT Hits ₦276.1 Billion

BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025

By femi Oyewale

BUA Foods Plc has delivered one of the most impressive financial performances in Nigeria’s fast-moving consumer goods (FMCG) sector, recording a 91 per cent increase in Profit After Tax (PAT) for the 2025 financial year.
According to the company’s unaudited financial results for the year ended December 31, 2025, Profit After Tax rose sharply to ₦508 billion, compared with ₦266 billion recorded in 2024, underscoring strong operational efficiency, improved cost management, and resilience despite a challenging macroeconomic environment.
The near-doubling of profit reflects BUA Foods’ ability to navigate rising input costs, foreign exchange volatility, and inflationary pressures that weighed heavily on manufacturers throughout the year. Analysts note that the performance places the company among the strongest earnings growers on the Nigerian Exchange in 2025.
The company’s Q4 2025 performance further highlights this momentum. Group turnover stood at ₦383.4 billion, while gross profit came in at ₦151.5 billion, demonstrating sustained demand across its core product lines including sugar, flour, pasta, and rice.
Despite a year marked by higher operating costs across the industry, BUA Foods maintained disciplined spending. Administrative and selling expenses were kept under control relative to revenue, helping to protect margins.
Operating profit for Q4 2025 stood at ₦126.9 billion, reinforcing the company’s strong core earnings capacity. Although finance costs and foreign exchange losses remained a factor, reflecting the broader economic realities, BUA Foods still closed the period with a Net Profit Before Tax of ₦102.3 billion for the quarter.
Earnings Per Share Rise Sharply
Shareholders were among the biggest beneficiaries of the strong performance. Earnings Per Share (EPS) rose significantly, reflecting the substantial growth in net income and strengthening the company’s investment appeal.
Market watchers say the improved earnings profile could support sustained investor confidence, especially as the company continues to consolidate its leadership position in Nigeria’s food manufacturing space.
BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025

By femi Oyewale
Industry Leadership Amid Economic Headwinds
BUA Foods’ 2025 results stand out against a backdrop of currency depreciation, energy cost spikes, and logistics challenges that constrained many manufacturers. The company’s scale, backward integration strategy, and local sourcing advantages are widely seen as key contributors to its resilience.
Outlook
With a 91% year-on-year growth in PAT, BUA Foods enters 2026 on a strong footing. Analysts expect the company to remain a major driver of growth in the consumer goods sector, provided macroeconomic stability improves and cost pressures ease.
For now, the 2025 numbers send a clear signal: BUA Foods is not only growing—it is accelerating.
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Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards

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Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards

Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards

In celebration of the season of love, Adron Homes and Properties has announced the launch of its special Valentine campaign, “Love for Love” Promo, a customer-centric initiative designed to reward Nigerians who choose to express love through smart, lasting real estate investments.

The Love for Love Promo offers clients attractive discounts, flexible payment options, and an array of exclusive gift items, reinforcing Adron Homes’ commitment to making property ownership both rewarding and accessible. The campaign runs throughout the Valentine season and applies to the company’s wide portfolio of estates and housing projects strategically located across Nigeria.

 

Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards

Speaking on the promo, the company’s Managing Director, Mrs Adenike Ajobo, stated that the initiative is aimed at encouraging individuals and families to move beyond conventional Valentine gifts by investing in assets that secure their future. According to the company, love is best demonstrated through stability, legacy, and long-term value—principles that real estate ownership represents.

Under the promo structure, clients who make a payment of ₦100,000 receive cake, chocolates, and a bottle of wine, while those who pay ₦200,000 are rewarded with a Love Hamper. Payments of ₦500,000 attract a Love Hamper plus cake, and clients who pay ₦1,000,000 enjoy a choice of a Samsung phone or a Love Hamper with cake.

The rewards become increasingly premium as commitment grows. Clients who pay ₦5,000,000 receive either an iPad or an all-expenses-paid romantic getaway for a couple at one of Nigeria’s finest hotels, which includes two nights’ accommodation, special treats, and a Love Hamper. A payment of ₦10,000,000 comes with a choice of a Samsung Z Fold 7, three nights at a top-tier resort in Nigeria, or a full solar power installation.

For high-value investors, the Love for Love Promo delivers exceptional lifestyle experiences. Clients who pay ₦30,000,000 on land are rewarded with a three-night couple’s trip to Doha, Qatar, or South Africa, while purchasers of any Adron Homes house valued at ₦50,000,000 receive a double-door refrigerator.

The promo covers Adron Homes’ estates located in Lagos, Shimawa, Sagamu, Atan–Ota, Papalanto, Abeokuta, Ibadan, Osun, Ekiti, Abuja, Nasarawa, and Niger States, offering clients the opportunity to invest in fast-growing, strategically positioned communities nationwide.

Adron Homes reiterated that beyond the incentives, the campaign underscores the company’s strong reputation for secure land titles, affordable pricing, strategic locations, and a proven legacy in real estate development.

As Valentine’s Day approaches, Adron Homes encourages Nigerians at home and in the diaspora to take advantage of the Love for Love Promo to enjoy exceptional value, exclusive rewards, and the opportunity to build a future rooted in love, security, and prosperity.

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