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General Electric in Multi-Million Dollar Tax Deduction Mess

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General Electric GE

By TheCable

General Electric (GE) withheld tax in excess of $3 million from its payments to Arco Group Plc, a Nigerian oil servicing company, according to documents seen by TheCable.

There is strong evidence backing Arco’s allegation, but GE has told TheCable it would not comment “for confidentiality reasons”.

In one of the documents, Arco claimed that GE deducted 10% as withholding tax for a contract between 2006 and 2015 as against the 5% stipulated by Nigerian laws.

GE, a multinational company operating in the Nigerian oil and gas sector, had engaged Arco for the supply of local personnel.

“Our interpretation of the contract of supply is that the applicable WHT rate should be 5% in line with the Federal Inland Revenue Service Circular No. 2006/02 dated February 2006,” Arco wrote, in a letter addressed to the Federal Inland Revenue Service (FIRS) seeking clarification on the applicable withholding tax rate to the contract.

“However, the IOC insisted that the rate is 10% in line with the contract for technical services in the same circular under reference. However, section 3.5 of the circular (Lines 8-11) referred to what should be classified as technical services states: the use of industrial machinery/equipment to provide a service does not render it to be technical because industry position requires that only arrangements that involve a transfer of technology, should be classified as technical.”

In a mail dated June 21, 2017, Fasilat Ransome-Kuti of General Electric Corporate, who was subsequently introduced as a senior manager from Price Waterhouse Coopers (PwC), advised ARCO Group to seek clarification from the FIRS.

“We request you seek the clarification from the tax policy unit of FIRS in Abuja as only such clarification will suffice and give us comfort,” she wrote.

“Also, we are unable to suspend the remittance of WHT on payment to Arco as this will amount to non-compliance. There is penalty for non-compliance and this will be an additional cost to GE.”

In a letter dated November 2, 2017, and signed by Tunde Fowler, FIRS chairman, he said the only part of the contract that is subject to 10% tax is office rent which is to be deducted by Arco and remitted to FIRS.

Responding to the letter, GE said they had engaged PwC to confirm from FIRS.

It also expressed willingness to liaise with the FIRS on how the excess will be treated in the event the service upholds its position.

“This is based on the fact that the tax has already been deducted and remitted to the FIRS by GE. It is our view that the FIRS should either refund the excess WHT to Arco or apply it as a credit against Arco’s future tax liability,” GE wrote.

In a letter dated March 6, 2018, and signed by Benjamin Omotomiye, its group head of finance and admin, Arco demanded a refund of the funds deducted within the eight-year period.

He wrote: “What we are requesting now, is the refund of 50% of total WHT deducted from Arco’s invoices from the period 2006 to 2015 as earlier communicated to you in our letter dated November 6, 2017, following the FIRS’ clarification as follows:

   – €56,577.61 (Fifty-six thousand, five hundred and seventy-seven euros, sixty-one cents)

   – $2,923,642.36 (Two million, nine hundred and twenty-three thousand, six hundred and forty-two dollars and thirty-six cents)

   – N360,482,041.19 (Three hundred and sixty million, four hundred and eighty-two thousand, forty-one naira and nineteen kobo).”

When TheCable reached out to GE for a reaction, the company refused to comment.

“On the questions raised, we can confirm the existence of a contractual relationship between Arco Group and ourselves,” Obagbemi Olusegun of BHGE Communications Sub-Saharan Africa, said.

“However, due to the confidentiality provisions governing this relationship, we are unable to disclose details of commercial dealings between both parties.

“I trust you understand our position on this.”

TheCable

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Mastering SEO: Proven Methods to Grow Your Online Presence

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RiseGrower

Search Engine Optimization isn’t what it used to be.

Gone are the days of stuffing keywords, buying random backlinks, and expecting overnight rankings. Today, SEO is a sophisticated blend of technical precision, content authority, brand positioning, and strategic digital PR.

At RiseGrower.com, we’re launching with one mission:

To help brands grow through ethical, scalable, authority-driven SEO.

This isn’t just another SEO agency. This is the next evolution of ranking strategy.

🌍 SEO in 2026: What Has Changed?

Search engines—especially Google—have become dramatically smarter.

Modern ranking systems analyze:

  • Topical authority
  • Content depth and expertise
  • User engagement signals
  • Link quality (not quantity)
  • Brand credibility
  • Search intent satisfaction

SEO today is no longer about “gaming the algorithm.” It’s about becoming the most trusted answer in your industry.

That’s where RiseGrower comes in.

🚀 What RiseGrower.com Is Built For

We specialize in performance-focused SEO strategies designed to:

  • Increase organic traffic
  • Improve high-intent keyword rankings
  • Strengthen domain authority
  • Build sustainable backlink profiles
  • Turn search visibility into revenue

Our approach combines:

  • Advanced technical SEO audits
  • Strategic content architecture
  • Authority guest posting campaigns
  • White-hat link acquisition
  • On-page optimization
  • Data-driven reporting

We don’t chase vanity metrics. We build growth systems.

🧠 Our Philosophy: Authority Wins

Search engines reward expertise and trust.

That’s why our strategy centers around three pillars:

1️ Topical Authority

We help brands dominate entire keyword clusters—not just single keywords.

2️ Editorial Authority

Through high-quality guest posting on real industry publications, we build contextual backlinks that move rankings safely and effectively.

3️ Technical Excellence

From crawl optimization to structured data, we ensure search engines fully understand and prioritize your content.

🔥 Why Most SEO Strategies Fail

Many businesses struggle with SEO because:

  • They focus only on backlinks without strategy
  • They publish content without search intent research
  • They ignore technical site health
  • They chase short-term wins instead of long-term growth

SEO is not a trick.

It’s a system.

RiseGrower builds systems.

📊 Our Approach Is Data-Driven

Every campaign starts with:

  • Competitive analysis
  • Keyword gap research
  • Link profile audit
  • SERP intent mapping

We analyze what’s ranking—and why.

Then we engineer a strategy that outperforms it.

🏢 Who We Work With

RiseGrower is built for ambitious brands:

  • SaaS companies
  • eCommerce brands
  • Agencies
  • Startups
  • Enterprise businesses
  • Niche industry leaders

If your goal is sustainable organic growth, you’re in the right place.

⚖️ White-Hat SEO Only

We believe in:

  • Real editorial placements
  • Ethical outreach
  • Genuine authority building
  • Search engine compliance

We do not use:

  • Private Blog Networks (PBNs)
  • Spammy link schemes
  • Automated backlink tools
  • Manipulative ranking shortcuts

Long-term growth requires integrity.

📈 The Rise of Performance-Based SEO

The future of SEO isn’t “deliverables.”

It’s measurable outcomes.

At RiseGrower, we align our strategy with:

  • Ranking milestones
  • Traffic growth targets
  • Lead generation goals
  • Revenue impact

Because rankings are only valuable if they drive business growth.

🌟 What Makes RiseGrower Different?

We blend:

  • SEO strategy
  • Digital PR
  • Authority guest posting
  • Content intelligence
  • Conversion-focused thinking

We don’t just improve rankings.

We build market leaders.

🔮 The Future of Search

AI-generated content is flooding the internet. Competition is rising daily.

Search engines will increasingly reward:

  • Authentic expertise
  • Brand mentions
  • Trusted backlinks
  • Valuable long-form content
  • Real-world credibility

The brands that invest in authority now will dominate tomorrow.

RiseGrower was created for that future.

🚀 Launching Soon

RiseGrower.com is preparing to launch with a clear promise:

Growth through strategic SEO authority.

If you’re ready to:

  • Outrank competitors
  • Scale organic traffic
  • Build long-term visibility
  • Turn search into revenue

We’re ready to grow with you.

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Globy Platform: B2B Marketplace and Its Logistics Calculator

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Globy Platform

Wholesale marketplaces were created so that business owners could find profitable offers and make deals on B2B platforms worldwide. In addition to buyers and sellers, there are traders, distributors, logisticians, and other professionals on such platforms. Let’s take a closer look at these professions. Traders purchase goods in order to resell them at a higher price; speculation is allowed on B2B marketplaces and is a legal instrument. Distributors are the official representatives of the manufacturer, meaning you can purchase original products at the lowest price. Most often, goods are purchased in China and then transported by sea to European countries or North America. We suggest you try the Globy Platform, where the most reputable Asian distributors are registered. Logisticians can also register on Globy. They provide services for the transportation of goods by sea. The following are the advantages of Globy, which are mentioned most often:

  • quick registration on the portal;
  • website with simple navigation and management;
  • excellent choice of reliable suppliers;
  • most relevant products in the catalog;
  • free registration;
  • no commission.

Some B2B platforms process payments, but Globy allows participants to make money payments outside the platform using one of the secure methods. In addition, Globy does not charge a commission when concluding a purchase deal. To start working on the platform, you need to register in accelerated mode or fill out a form with your company’s details. You can be sure that your banking details, personal, and contact information are protected. Third parties can only see the information that you leave open. When registering, do not forget to enter your company’s contact information (messenger, phone, email) so that new partners can contact you. You can pay attention to the fact that the Globy catalog contains items without specifying a price, but the product profile contains the vendor’s contacts. You can contact the seller to discuss the deal details, determining the price of the product.

Logistics Tool on Globy

There is often a situation when the supplier does not provide transportation services and the buyer has to search for a carrier on their own. In fact, this problem is solved simply. Globy has a special tool that helps you quickly find a charterer. You would open the freight calculator and fill in all the fields in the suggested form. You would specify the sending and destination port, and don’t forget to specify the dates and choose the container size. If you want to place containers in an optimal way, then use the load calculator, which is also available for free on the official website. You can use these tools only after registration. You can log in quickly if you have a Google account or a LinkedIn profile. After entering the data, the freight calculator will process your request and provide a list of prices. You can select a suitable line and contact the charterer to discuss the details of the contract. It is recommended to choose a sea delivery with a minimum number of intermediate stops, in which case the cargo will arrive at the destination port faster.

Receiving Cargo at the Destination Port

Buyers should remember that you can check the cargo when it arrives at the port. If the rules of transportation were violated, there was a long delay, or the goods were damaged, you can refuse the cargo, explaining the reason. You can discuss a price reduction with the supplier if the product has lost its proper appearance or the packaging is damaged. You can evaluate the cargo yourself or with the help of third-party experts. It is best to carefully check the documentation when receiving the goods at the port. All documents must be executed in accordance with international law. You can register on Globy today, find the goods you need, and use the logistics tools for free. More than fifty-five thousand users have already been registered on the platform, which indicates the high authority of Globy. If you have any questions, you can ask them in the Help Center on Globy website.

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MSC, Nigerdock Seal 45-Year Port Concession Deal for Snake Island Terminal

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Snake Island Terminal

By Adedapo Adesanya

Shipping giant, Mediterranean Shipping Company (MSC), has signed a 45-year concession agreement with ​Nigerian maritime company, Nigerdock, to develop, operate ‌and maintain a new container terminal at Snake Island Port in Lagos.

A statement by MSC on Thursday noted that the new container terminal would be completed by 2028 with a 910-meter quay, six Ship-to-Shore (STS) cranes, two ship berths, three barge berths, and up to 18 meters of draft.

The ​dedicated MSC terminal would be part of ​the company’s announced $1 billion investment in infrastructure ⁠and logistics in Nigeria.

“We are thrilled to take this step forward in our partnership with MSC to develop a world-class container terminal within Snake Island Port.

“This gives the world’s leading shipping line a home in Nigeria and brings significant foreign direct investment into the country to accelerate growth in the maritime and logistics industry,” it said.

Global shipping companies ​are pushing to secure long-term footholds in emerging ​markets as supply chains are reconfigured worldwide.

MSC said the terminal, to be built ​by ITB Nigeria and DEME Group, is expected to be ‌ready ⁠by 2028.

It will occupy 30 hectares (74 acres) and feature a 910-metre (3,000 ft) quay capable of handling ship‑to‑shore cranes and mobile harbour ​cranes, serving both ​deep-sea vessels ⁠and barges.

MSC President, Mr Diego Aponte, said: “Completing this key phase in the development of Snake Island Container Terminal with Nigerdock and our trusted partners demonstrates MSC Group’s commitment to providing excellent service to our customers in Nigeria and throughout Africa.

“The new terminal will open up opportunities, enhance efficiency, and elevate Snake Island Port as a major global shipping centre.

“Together with our Group’s other long-term investments in Nigeria, it will generate many local jobs and significantly increase economic revenue and resilience.”

Snake Island Port is an 85-hectare facility operated ⁠by ​Nigerdock, a maritime and ​logistics company, and comprises three terminals serving the Lagos port ​complex.

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