Economy
Kaduna Hosts VAIDS Stakeholder Symposium March 1
By Dipo Olowookere
Thursday, March 1, 2018, has been fixed for a stakeholders’ symposium to deliberate on the Federal Government’s tax amnesty scheme called the Voluntary Assets and Income Declaration Scheme (VAIDS).
Leading a high-powered Federal Government delegation to the Umaru Musa Yar’adua Hall of the Murtala Square in Kaduna State is the Minister of Finance, Mrs Kemi Adeosun.
The VAIDS stakeholders’ symposium is being hosted by the Kaduna State Government, and will be attended by the Governor of Kaduna State, Mallam Nasir el-Rufai; Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler; members of the State Executive Council, members of the State House of Assembly, and traditional rulers.
Also expected at the tax amnesty sensitization forum, according to a statement issued by the FIRS, are business leaders, business owners and groups, tax advisers, captains of industries as well as professional and artisan bodies, among other strategic economic groupings within Kaduna State and environs.
The statement noted that the VAIDS stakeholders’ symposium was aimed at promoting greater public understanding of the procedure for the tax amnesty scheme.
“The one-day stakeholder engagement event by the Federal Internal Revenue Service and the Federal Ministry of Finance in collaboration with the Kaduna State government is aimed at forging mutually beneficial cooperation between the government and diverse socio-economic interest groups for the success of the VAIDS scheme,” the government agency said.
The FIRS quoted the Minister of Finance as stating that regular tax payment by Nigerians was fundamental to the growth and development of the country.
Mrs Adeosun noted that predictable tax revenue inflow would lead to more investment by the Federal and State Governments in infrastructure and job and wealth creation across the nation.
The Minister urged tax payers to take advantage of the VAIDS opportunity to regularise their tax profiles, adding that tax defaulters would be subjected to investigations as well as made to face criminal prosecution for tax offences upon the close of the VAIDS window.
The VAIDS programme commenced on 1st July, 2017 and provides opportunity for tax payers to voluntarily and truthfully declare their assets and incomes before the March 31st, 2018 deadline.
The scheme embraces all Federal and State taxes such as Companies Income Tax, Personal Income Tax, Petroleum Profits Tax, Capital Gains Tax, Stamp Duties, Tertiary Education Tax, Technology Tax, Tenement Rates, and Property Taxes.
It also covers all back taxes for the last six years in line with the statutory periods of limitation under the relevant tax statutes.
Tax payers who utilise the VAIDS window are expected to be free of penalties and interests on owed tax backlogs and tax audits. They will also be allowed to spread the payment of calculated tax backlogs over a maximum period of three years”
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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