Author: Opalim Lifted

Foreign portfolio investors will lose a preferential tax rate on interest from Indian government securities and corporate and foreign currency bonds, a senior tax official said on Saturday. Foreign portfolio investors have been enjoying a lower 5% tax on interest earned on bonds since 2013, making investments in the country more attractive. Ending this treatment would require them to pay a 20% tax on the interest income from July 1. “It has not been extended,” Central Board of Direct Taxes chairman Nitin Gupta told media reporters. “Our viewpoint is that it was a revenue foregone by the government. “We have…

A Spanish high court has ruled in favour of a man who was fined for walking naked through the streets of a town in the region of Valencia and later tried to attend a court hearing in the nude. In a statement, the region’s high tribunal said it had struck down an appeal against a lower court decision to annul fines handed out to the man for being naked in the streets of Aldaia, a town on the outskirts of the regional capital. The tribunal, however, acknowledged a “legal vacuum” in Spanish law regarding public nudity. Alejandro Colomar, 29, was…

Big Brother Titans (BBTitans) housemate, Nana has said she used popular sex enhancer, Kayan Mata, to attract Senators. Nana revealed this during a conversation with Yvonne, Olivia, and Yaya. The Kaduna State indigene who had earlier said she doesn’t enjoy sex disclosed that she was able to attract the right clients and if she had listened to her friends, she would have built a house and bought a car from the proceeds. BBTitans: My baby died and was decaying inside me – Nana “When I got it, the senators I gathered, Jesus… back to back, I’m always flexing like if…

The invisible Big Brother Titans (BBTitans) instructor, Biggie, has punished two housemates, Nellisa and Yemi, for breaking some of the rules in the house. Recall that Yemi Cregx and Nelisa emerged as the week’s Tail of House, a title recently introduced as one of the many twists and additions to the BBTitans edition. For their rewards, they are required to wear the trademark tail and use a whiteboard to indicate when they want to speak. BBTitans: South African Khosi begs Nigerian Yemi for more love They, however, failed to follow the rules, and Biggie doesn’t like his rules being broken.…

The Federal Government says it is focused on ensuring that the Premium Motor Spirit (PMS) ‘fuel’ scarcity and queues are normalized. Chief Timipre Sylva, Minister of State, Petroleum Resources, made this known on Friday while speaking with newsmen shortly after inspecting some filling stations in the Federal Capital Territory (FCT), including Conoil and TotalEnergies filling stations in Central Area. “Mr. President directed that we must ensure that the fuel supply situation is normalized quickly. And that is why I have to ensure that we sort out this problem. “A lot of things have been done. All hands have been on…

The National Association of Nigerian Travel Agencies (NANTA) has called on the Federal Government to wade into the exorbitant airfares currently charged by foreign airlines. Mrs. Susan Akporiaye, National President of NANTA, during a media briefing on Friday in Lagos, said that it was disheartening that a Nigerian traveller would have to pay over 2,000 dollars for an economy ticket. “As we speak, it is only in Nigeria that a traveller is made to cough out over 2,000 dollars for an economy ticket and also change the date of the flight itinerary for whatever personal reasons with about N1.5m to…

The Minister of Aviation, Sen. Hadi Sirika, says Federal Government is ready to implement Satellite Based Augmentation System (SBAS) to enhance safety at all phases of flight. Sirika made the declaration at the “ SBAS Flight Demonstration and Outreach Prgramme“ in Abuja on Thursday. The minister explained that the implementation of SBAS would enhance the accuracy, integrity, reliability, availability, and continuity of air navigation service in continental, remote continental, and oceanic airspaces. According to him, the implementation of SBAS in Nigeria will help to survive the prevailing global economic and security challenges in the aviation sector. “The programme could not…

Police operatives in Ogun State have arrested a 46-year-old man, Hassan Azeez, for setting his wife ablaze. Azeez had asked his wife, Olayinka Hassan, to prepare food for him, but instead of preparing the food, she was busy washing clothes, which infuriated him to pour petrol on her, setting her ablaze. A statement by the State Police Public Relations Officer, Abimbola Oyeyemi, on Friday, said that the suspect was arrested following a report lodged at Ibokun Police Station by Hassan’s father on October 22, 2022. Azeez who left Nigeria for Benin Republic after committing the crime was, however, arrested on…

Television Continental (TVC) and Arise television stations have been sanctioned for breaching sections of the Nigeria Broadcasting Code. The television houses are to pay a fine of N2m each, a letter by the Commission’s Director General, Barabe Shehu Ilelah, stated. A part of the letter reads: “The penalty shall be paid within two weeks of the receipt of this letter or sanction shall be graduated. Yuletide: GOtv improves signal quality in Abuja, Rivers “The broadcaster shall ensure that its presenters handle the program with professionalism and sound judgment, to ensure that it does not lose focus or lead to unfair…

The Nigerian National Petroleum Company Limited (NNPCL) and Daewoo Engineering Construction Nigeria Limited have signed a maintenance service contract for the quick-fix repairs of the Kaduna Refining and Petrochemical Company Limited (KRPC). Group Chief Executive Officer, of NNPCL, Malam Mele Kyari, and CEO of Daewoo E&C Nigeria, Mr. Jung Taewon, signed the contract on behalf of their respective organizations. The proposed quick-fix initiative on Kaduna Refinery (KRPC) is expected to restore it to a minimum of 60 percent of its nameplate capacity by the fourth quarter of 2024. Kyari said restoring local refining capacity would guarantee energy sufficiency, being one…