UK-educated Wang Sicong, the only child of mega-rich property magnate Wang Jianlin, and the heir to his estimated $12.5 billion fortune has been banned enjoying ultra-rich lifestyle. This means he’s forbidden from flying first class, buying luxury goods, taking high-speed trains and going on holiday after refusing to pay debts, according to a district court … Continue reading Chinese billionaire’s son banned from flying first class after refusing to pay $21.6 million debt
Nigeria’s Company Income Tax Amongst Highest In The World
Nigeria has one of the highest company income tax rates globally which is a disincentive for business growth, Tax leader, PwC Nigeria, Taiwo Oyedele has said. According to Oyedele, Nigeria is in the top 10 in the world, for highest income tax rate. “We pay Company Income Tax, CIT 30 per cent, education tax, 2 … Continue reading Nigeria’s Company Income Tax Amongst Highest In The World
N537.3m debt: AMCON takes over Donald Duke’s Ikoyi house
Justice Chuka Obiozor made the order on August 8, 2019, in a ruling. The order was under an ex-parte application, brought before the court by AMCON and UBA. The defendants in the suit are Stonehedge Investment Limited, Mr. Duke and Mrs. Owanari Bob-Manuel Duke, respectively. The applicants had prayed the court for “An order of … Continue reading N537.3m debt: AMCON takes over Donald Duke’s Ikoyi house
CLEMENT ISONG on N1,000 Note To Be Honoured After 35 Years
AKWA IBOM STATE GOVERNMENT, CLEMENT ISONG FOUNDATION SET TO LAUNCH BIOGRAPHY OF THE LATE DR. CLEMENT NYONG ISONG . Arrangements are in top gear for the public presentation and official launch of the biography of the second indigenous Governor of the Central Bank of Nigeria, CBN, and first Civilian Governor of the old Cross River … Continue reading CLEMENT ISONG on N1,000 Note To Be Honoured After 35 Years
Nigerians Excited As MMM Returns
Just like the previous version, participants are to register, invest a particular amount in the form of “providing help” and “get help” with their investment and interest back after 30 days. Notorious Mavrodi Mundial Moneybox (MMM), the Ponzi scheme which dashed the hope of over three million Nigerians in 2017, is back. The new version … Continue reading Nigerians Excited As MMM Returns
Ponzi Scheme: Micheno Boss To Remain In Prison Over N320m Fraud Charge
The Economic and Financial Crimes Commission, EFCC, has arraigned the registered trustee of Micheno Multi-purpose Cooperative Society, Mr. Uno Michael Eke before Justice Simon Amobeda of the Federal High Court, sitting in Calabar, Cross River State, on a separate 74-count charge, for allegedly obtaining over N320 million (Three Hundred and Twenty Million) by false pretence … Continue reading Ponzi Scheme: Micheno Boss To Remain In Prison Over N320m Fraud Charge
Kenya introduces new banknotes to curb corruption
Kenya's President Uhuru Kenyatta has announced that the country's currency is to be replaced with a new generation of banknotes. Kenyans must return their 1,000 shilling ($10; £8) notes to banks by 1 October, in a bid to fight money laundering, counterfeits and corruption. New currency is to be brought in over the coming months with other denominations being phased out gradually.
Diezani ‘bribe’: court convicts INEC chiefs
The Federal High Court in Lagos on Thursday convicted a former Independent National Electoral Commission ( INEC ) Administrative Secretary in Kwara State Mr Christian Nwosu. Justice Mohammed Idris found him guilty of laundering N264million. “I find that the prosecution has proved the case beyond reasonable doubt in the manner required by law.
Buhari Orders Prosecution Of NFF President, Pinnick Over Multi-Billion Fraud
It was learnt that the Federal Government through the Presidential investigative panel headed by Mr. Okoi Obono-Obla, had placed Pinnick on travel ban. Buhari gave the order for Pinnick’s prosecution when the Obono-Obla presented a preliminary investigation report to him.
Nigeria’s VAT rises to N273.5Bn in Q3 – NBS
The NBS announced the figure in a sectoral distribution of value added tax report for third quarter, 2018 posted on its website.
India’s stock market is 7th biggest in the world
India’s ranking has improved two notches in the league table of the world’s biggest stock markets. Currently, India ranks seventh with a market cap of $2.1 trillion. At the end of 2017, India was at the ninth position despite its market cap being $2.4 trillion. The domestic market has seen an erosion of $308 billion in investor wealth this year.
Western Union open to Cryptocurrency adoption
Global cash transfer giant Western Union has revealed that it is evaluating options for the integration of blockchain technology and Cryptocurrency services to its platform. The revelations were made via a blog post and a video on the company’s blog. The news follows an increased buzz around cryptocurrencies globally.
Worlds First Cryptocurrency Phone, Launches to the Public.
It has been almost 7 months since Phil Chen, HTC’s Decentralised Chief Officer, stood on stage at Coindesk’s Concensus summit in New York and announced the worlds first cryptocurrency focused phone, the Exodus1.