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Popular Bank’s Private Jet grounded 

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4 months ago

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Popular Bank’s Private Jet grounded

 

 

PRIVATE JET– The Federal Government through the Nigeria Customs Service has grounded a United States-registered Gulfstream G650ER jet belonging to a leading Nigerian bank, signalling the commencement of government clampdowns on private jet owners over unpaid import duty running into several billions of naira.

 

 

The development came barely two weeks after the NCS began a one-month verification exercise for private jet owners in the country. The exercise which began on June 19, 2024, is expected to end on July 19, 2024.

In a public notice by the Customs, the exercise aims to identify private jet operators that have illegally imported aircraft into the country without paying the necessary import duties.

The customs had recovered about N2bn into the government coffers when a similar exercise was carried out in 2019.

At least 80 private jet owners are expected to present their import documents and aircraft certificate of registration to the Customs in Abuja during the one-month exercise.

Although the grounding of private jets which fail to pay the necessary import duty is expected to begin after the one-month Customs verification exercise, findings showed that moves by some operators to export their aircraft might have forced the NCS to begin the clampdowns on some private jet operators.

 

The Nigeria Customs Service had last week said some operators of foreign registered private jets were temporarily flying their aircraft out of the country apparently in a bid to evade the exercise.

However, findings by The PUNCH on Sunday disclosed that a luxury Gulfstream G650ER plane belonging to a tier-1 bank had been grounded at Lagos airport over unpaid import duties reportedly estimated at N1.9bn.

It was learnt that the NCS had written the Nigerian Civil Aviation Authority and the Nigerian Airspace Management Agency asking them to cancel the flight clearance approval given to the private aircraft.

Our correspondent gathered that the agencies had received the letters to distrain the US-registered Gulfstream G650ER with registration number N331AB and manufacturer’s serial number 6487.

The bank is reportedly owing about N1.9bn in unpaid import duties to the government on two formerly owned private jets (Gulfstream G450 and Gulfstream G550 aircraft), which according to sources have since been taken out of the country.

It was also understood that the assessment of N1.9bn was based on a verification exercise carried out by the NCS in 2021.

It was learnt that going by the current exchange rate, the N1.9bn might be raised to about N6bn. Aircraft import duties are computed based on prevailing exchange rate.

 

 

NCAA and NAMA officials said they had received the cancellation of the previously granted flight clearance approval for the Gulfstream G650ER aircraft.

According to the letter, the luxury aircraft which cost over $65m, was found to have contravened the Federal Government’s import duty regulations and as such denied the necessary Export Permit by the Customs Service Area Command at the Murtala Muhammed Airport, Lagos.

A copy of the letter written to the NCAA and NAMA, which was sighted by one of our correspondents, was titled “Re: cancellation of flight clearance approval for Gulfstream G650ER with registration N331AB and manufacturer’s serial number 6487.”

The letter read in part, “The above subject matter refers.  The Nigeria Customs in its drive for enhanced revenue collection decided to do a verification exercise on private airlines operating in Nigeria.

“The verification aims to identify privately owned aircraft that were inappropriately imported into the country. This will enable the Service to perfect these Imports and collect revenue accruable to the Federal Government.

“The above-cited aircraft has been found to have contravened the Federal Government’s import duty regulations and as such denied Export Permit by the Customs Service (MMIA Command).

“In furtherance to the above, we are soliciting your kind co-operation and assistance to deny flight clearance approval”

The Comptroller General, NCS, Adewale Adeniyi, had two weeks ago said a good number of private jets were leaving the country as the verification began.

Adeniyi, who disclosed this while speaking in an interview with Arise Television, stated that since the exercise started,  only a few owners have shown up.

“Very few of them (private jet operators) have showed up for verification and we gather intelligence that a good number of them are leaving Nigeria since the announcement was given because they would not want to be verified,” he said.

The CGC explained that the service introduced the private jet verification exercise because more private jets were operating outside the ambits of the law.

“We have seen so many of these aircraft flying and our record tends to show that only a few of them have shown up to pay duty and this is why we are bringing this verification up,” he said.

The CGC disclosed that data obtained from the Nigerian Civil Aviation Authority revealed that though many private jets were operating in the country, only a few had paid customs duties.

 

 

 

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Sahara weekly online is published by First Sahara weekly international. contact [email protected]

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Ooni of Ife endorsed the 7th edition of the Adron Games

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8 hours ago

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October 21, 2024

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Ooni of Ife endorsed the 7th edition of the Adron Games

On Sunday, October 20, 2024, top real estate firm, Adron Homes and Properties, led by its Chairman and CEO, Aare Adetola Emmanuelking, paid a courtesy visit to the Palace of His Imperial Majesty, Ooni Adeyeye Enitan Ogunwusi Ojaja II, CFR, in Ile-Ife. This visit was to seek the revered monarch’s endorsement for the upcoming ADRON GAMES 2024, scheduled to take place in November 2024 in Ibadan, Oyo State.

 

Following a week of celebratory activities for the Ooni’s milestone birthday, Aare Adetola, also known as Aare Akile Adimula Oodua, commended the Ooni for his unwavering support for real estate professionals in Nigeria. He emphasized Ooni’s significant contributions to sports development, highlighting its essential role in fostering community growth. During the visit, Aare Adetola presented a soccer ball to the Ooni, who showcased his skills with it. A framed official jersey was also gifted to symbolize the Ooni’s endorsement of the forthcoming Adron Games. This event aims to unite sports enthusiasts, real estate firms, and various stakeholders under one roof to participate in a range of indoor and outdoor competitions, with exciting prizes for winners in different categories.

 

The Ooni, through a signed letter, formally endorsed the Adron Games and expressed his intention to attend the event. He encouraged Adron Homes to continue its commitment to sports development, recognizing it as a vital unifying force for youth across the nation, transcending racial and regional divides. He also expressed gratitude to Aare Adetola and his team for their support during the Annual Olojo festival and for celebrating his birthday with generous gifts.

In his remarks, Aare Adetola highlighted that Adron Homes is honoured to collaborate with traditional rulers and contribute to the development of their communities. He extended best wishes to His Imperial Majesty for continued good health and prosperity, expressing hope for many more years of celebratory milestones. Aare was accompanied by several senior executives from Adron, including Adenike Ajobo (MD), Ihuoma (DGSM), Azuru, Emmanuel Oladapo (DAS), and several other key team members.

 

Ooni of Ife endorsed the 7th edition of the Adron Games

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Adron Homes Unveils 2024 Lemon Friday Promo: Huge Discounts and Flexible Payment Options Up to 60 Months

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5 days ago

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October 17, 2024

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Adron Homes Unveils 2024 Lemon Friday Promo: Huge Discounts and Flexible Payment Options Up to 60 Months

 

Adron Homes and Properties, Nigeria’s leading real estate company, has officially launched its highly anticipated 2024 Lemon Friday Promo, marking the ninth consecutive year of this revolutionary campaign. The promotional offer, which has transformed the lives of countless Nigerians, promises even greater opportunities for aspiring homeowners with a suite of exciting benefits and incentives.

At the official unveiling event held at Adron Homes’ headquarters in Lagos, Mrs. Adenike Ajobo, the Managing Director of the company, expressed her delight in launching this year’s Lemon Friday Promo. She highlighted how the promo has consistently created opportunities for many Nigerians to become proud property owners, offering not only affordable housing options but also an array of valuable gifts such as cows, inverter batteries, air conditioners, refrigerators, televisions, washing machines, and more.

“The Lemon Friday Promo has been life-changing for many of our customers. It reflects Adron Homes’ unwavering commitment to making housing accessible to all Nigerians, regardless of income level. This year, we’re offering an even more flexible payment plan, with options extending up to 36 months. It’s our way of ensuring that everyone, from all walks of life, can become a homeowner,” said Mrs. Ajobo.

Subscribers to the Lemon Friday Promo can enjoy up to 45% discount on various properties with a payment option of up to 60months, in addition to a variety of mouth-watering gifts including bags of rice, inverters batteries, gift vouchers, and even cows. This year’s edition continues to cater to the needs of all Nigerians, ensuring that Adron Homes’ properties remain affordable, accessible, and appealing to a diverse clientele.

With properties spanning Lagos, Abuja, Ogun, Oyo, Osun, Nasarawa, Niger, Ekiti, and Plateau States, Adron Homes has been at the forefront of reducing Nigeria’s housing deficit by providing secure, comfortable, and affordable housing solutions. The Lemon Friday Promo is a shining testament to Adron Homes’ dedication to creating a sense of community while promoting homeownership across the country.

“At Adron Homes, we pride ourselves in our ability to create communities that foster togetherness. This year’s Lemon Friday is not just about offering homes, but about building family-centric communities where people can thrive,” Mrs. Ajobo added.

The 2024 Lemon Friday Promo is set to surpass previous editions in scale, benefits, and impact, embodying the core values of Adron Homes: affordability, accessibility, and community building. This is a once-in-a-lifetime opportunity for Nigerians to own property while enjoying significant savings and exclusive gifts.

Don’t miss out on this life-changing opportunity! Take advantage of the 2024 Lemon Friday Promo and become a proud property owner with Adron Homes today.

For more information on how to subscribe and benefit from this offer, visit Adron Homes’s official website or send a DM on our social media platforms.

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Why We Want To Change FIRS Name – Adedeji

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5 days ago

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October 17, 2024

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FIRS allays fears over tax reform, denies new taxes

Why We Want To Change FIRS Name – Adedeji

The Chairman of the Federal Inland Revenue Service, Zaccheus Adedeji, on Wednesday, explained the need for the change of the FIRS to the Nigeria Revenue Service.

 

Mr Adedeji, while appearing before the House of Representatives Committee on Finance, explained that the current name does not reflect the true function of the agency, and limits its power to carry out functions.

It would be recalled that President Bola Tinubu sent four bills on tax reform to the National Assembly for passage.

 

One of the bills, the Nigeria Revenue Service Act repeals the FIRS Act, and also makes a name change.

 

The other bills are the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.

 

Mr Adedeji explained that the “federal” and “inland” in the current name limit the powers of the commission.

In case of “federal”, he stated that the agency currently collects money for federal, states and local governments with the VAT collection.

 

He noted that the agency equally collects funds outside the shores of Nigeria from Amazon, Google and others, hence, the agency cannot be called “inland”.

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