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Globacom in Huge Tax debt as Osun state Government seals company’s office

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The Osun State Internal Revenue Service (OIRS) on Wednesday announced the sealing of the offices of telecommunication firm, Globacom, in the state for not effecting the payment of outstanding taxes and other levies in respect of mast/ base station and laying of fibre optics.

The state said the charges became “due and payable to the Osun State Government arising from back- Duty-Investigation-Exercise”.

This Acting Chairman/Chief Executive Officer, Osun Internal Revenue Service, Dayo Oyebanji, said the action became necessary following Globacom’s non-compliance in ensuring remittance of all outstanding taxes due to the State.

“The distrain action is in line with the provision of Section 104 of the personal Income Tax Act 2004 LFN (as amended in 2011) and will not be reopened for business until all full compliance is attained,” Mr. Oyebanji said.

He said several meetings were held with the company’s representatives in the past three years to resolve the issue, but that the company failed to comply.

The latest meetings, he said, were held October 8 and November 13, 2015, adding that the company’s representatives reneged on their promise to facilitate payment.

Mr. Oyebanji said the Osun State House of Assembly also intervened in the matter by inviting Globacom to appear before its special session on December 3, 2015.

 

He said representatives of the company appeared before the House on that day, the promises they made to remit the outstanding tax liabilities within two weeks were yet to be kept.

Mr. Oyebanji added, “Another important issue is the failure to obtain relevant approval for laying of fibre optics in line with the State’s relevant regulation on physical and urban planning. He emphasized that in the last few months, it has been discovered that GLO has been laying cables and masts especially in Ife Axis without obtaining necessary approval and thus violating the law.

“OIRS has intensified its efforts on advocacy, publicity and enlightenment programmes on the statutory obligations of the citizenry for voluntary compliance by paying their taxes promptly as prescribed in the Nigeria constitution and the applicable tax legislations.

“In spite of its efforts, some corporate organizations and individuals still engage in several violations. As a result of this, OIRS is set to begin enforcement of tax payment, prosecution of all tax defaulters in the State of Osun to ensure that the defaulters are made to face the full scale of the law.

“Personal Income Tax Act mandates all taxable institutions to file its annual tax return for the preceding year at the expiration of 90 days from the commencement of every year of assessment, a taxable person or corporate organizations who fails to file its returns with OIRS by the stipulated date is in breach of the provisions of the law.”

He, however, thanked those who had continued to express their unalloyed support to the State through their regular tax payment. He assured members of the public that the state government remained committed to building a vibrant economy aimed at boosting commerce, industry and improving the welfare of the citizenry which he said could only be achieved through prompt tax payments.

He said the OIRS would “not hesitate to take legal action against recalcitrant individuals or corporate organizations that fail to perform their civic responsibility to the State government in the area of tax payment”.

 

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Dennis Ekamah Isn’t Building Houses—He’s Redefining What Home Means for Africans Through PropTech

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Dennis Ekamah Isn’t Building Houses—He’s Redefining What Home Means for Africans Through PropTech.

 

The founder of coHouse.ng is reimagining how millions of Africans access, experience, and share housing through technology.

 

In Africa’s rapidly evolving innovation landscape, the most transformative companies are no longer defined by the industries they enter, but by the systems they redesign.

 

For Dennis Ekamah, the opportunity was never about constructing buildings, it was about confronting a deeper question.

 

why is access to housing still so structurally difficult for millions of Africans in a digital age?

 

Rather than stepping into real estate as a developer. Dennis chose a different path, positioning coHouse.ng as a PropTech platform rethinking how housing is accessed, experienced, and shared. At the heart of this vision which is connecting potential home owners together via resource pooling for the purpose of either Living or Growth. Simply, *Connect. Live. Grow.*

 

*A Platform Not a Property Company*

 

coHouse.ng is not a real estate company. It is a technology-driven ecosystem connecting like-minded individuals into structured communities where they can live intentionally, invest collectively, and grow within a shared system.

 

From Insight to Recognition

 

In 2025, coHouse.ng was recognised among the Top 50 Tech Startups in Africa. Even ahead of its official launch, the platform attracted over 1,000 early waitlist users, individuals eager to be part of a new way of living and investing.

 

Solving for Access, Alignment, and Trust

 

Dennis Ekamah’s diagnosis goes deeper than supply shortfalls. The real barriers he argues are access, coordination, and trust. coHouse.ng tackles all three through identity verification powered by a third party verification system api. coHouse is not flying solo without the help and collaboration with government bodies across Nigeria and other African countries.

 

In his words;

“Imagine what you would achieve as an individual or group if you’re living with the right people or like-minded individuals around you.”

 

I’m not a developer, I’m not a professional realtor, I’m just someone who sees the need for this solution based on the problem we face as youth/young entrepreneurs in today’s housing deficiency across Africa.

— Dennis Ekamah

 

Join our waitlist by visiting www.cohouse.ng

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Landmark Judgment: Federal High Court Dismisses ₦50bn Oil Spill Claim Against ExxonMobil

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Landmark Judgment: Federal High Court Dismisses ₦50bn Oil Spill Claim Against ExxonMobil

 

The Federal High Court sitting in Uyo has dismissed a ₦50 billion lawsuit filed against ExxonMobil, sued as Mobil Producing Nigeria Unlimited, now Seplat Energy Producing, in a ruling analysts say could significantly reshape oil spill litigation and compensation claims in Nigeria’s petroleum sector.

Delivering judgment on April 29, 2026, Justice Onyetenu held that the suit instituted by the Ejige Ore Njenyisi Muma & Fishing Co-operative Society Ltd was incompetent and liable to dismissal for lack of jurisdiction.

The plaintiffs had sought ₦50 billion in damages over an alleged hydrocarbon spill said to have occurred on September 12, 2021.

However, counsel to the defendant, Chinonso Ekuma of KENNA LP, successfully argued that the claimants failed to disclose any legally recognisable violation attributable to the oil firm.

In its findings, the court held that the plaintiffs failed to establish any actionable wrongdoing against the defendant.

A key element in the court’s decision was the Joint Investigation Visit (JIV) Report tendered by the plaintiffs themselves, which showed that the alleged spill incident was confined within ExxonMobil’s operational facility and did not impact the members of the cooperative society or their sources of livelihood.

The court further ruled that claims arising from such incidents must be pursued strictly under the statutory compensation framework provided in Section 11(5) of the Oil Pipelines Act, rather than through common-law claims founded on negligence or nuisance.

Justice Onyetenu held that the plaintiffs’ attempt to circumvent the statutory regime by framing the suit as a tort action rendered the matter incompetent before the court, thereby depriving it of jurisdiction.

Legal analysts say the judgment reinforces the supremacy of the Oil Pipelines Act in determining compensation procedures relating to oil pipeline incidents and environmental claims in Nigeria.

The ruling is also seen as strengthening the evidential weight of Joint Investigation Visit Reports, particularly in cases where such reports indicate no direct impact on claimants or host communities.

Industry observers believe the judgment will have far-reaching implications for future oil spill litigation, especially regarding the procedural requirements for compensation claims against oil operators.

The court’s decision further provides clarity for operators within Nigeria’s energy sector by reaffirming that compliance with Section 11(5) of the Oil Pipelines Act is mandatory and cannot be sidestepped through alternative legal formulations.

While K.O. Uzuokwu appeared for the plaintiffs, the defence was led by Chinonso Ekuma of KENNA LP on behalf of ExxonMobil.

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Union Bank Honoured by ASBON at Nigeria National SME Business Awards

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Union Bank Honoured by ASBON at Nigeria National SME Business Awards

 

 

Lagos, Nigeria – Union Bank of Nigeria has reaffirmed its reputation as a strong supporter of Nigerian businesses, receiving the Best SME Growth Banking Initiatives Award for 2025 from the Association of Small Business Owners of Nigeria (ASBON) at the Nigeria National SME Business Awards, held recently in Lagos.

The award was presented to the Bank in recognition of its strategic leadership in advancing the growth and resilience of small and medium-sized enterprises, through a differentiated suite of solutions designed to enable business expansion and long-term value creation.

Receiving the award on behalf of the Bank, Ayokunnumi Abraham, Head of SME Segment at Union Bank, described the recognition as a strong endorsement of the Bank’s commitment to supporting small and medium-sized businesses. He said:

“We are honoured to receive this recognition, which reflects Union Bank’s continued commitment to helping SMEs grow by making banking simpler, faster, and more accessible. Through enhancements to our specialised platforms such as Union360, we have meaningfully reduced the time it takes for businesses to come on board and begin transacting. These improvements have shortened onboarding, increased digital adoption among our SME customers, and supported the acquisition of new business clients. Our focus remains on delivering practical solutions that help Nigerian businesses thrive.”

Organised by ASBON in partnership with the Lagos State Government through the Ministry of Commerce, Cooperatives, Trade and Investment, the event convened stakeholders from the public and private sectors to recognise individuals and organisations driving meaningful impact across Nigeria’s SME ecosystem.

Union Bank remains focused on deepening its support for SMEs through customer-led solutions and processes that strengthen business growth across the ecosystem.

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