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FG Slashes Business Registration Fees By 50 Percent

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The Federal Government has slashed the costs of registering businesses in Nigeria by 50 percent, in its bid to encourage investment in the country.

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The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, disclosed this, Tuesday, in Abuja during the signing of a Memorandum of Understanding between his ministry and Brazil’s Ministry of Development, Industry and Foreign Trade on the promotion of trade and investment.

He said the Corporate Affairs Commission had, since October 1, 2013, reduced capital registration costs by 50 per cent for equity registration of N500m or lower, and by 25 per cent for equity registration above N500m.

The initiative, he explained, was in line with the ministry’s investment climate reform programme, aimed at strategically repositioning Nigeria as the preferred destination for both local and foreign investments.

According to him, “Following the directive from the President, the CAC has since October 1, 2013, slashed fees for business registration by 50 per cent. Under the new regulations, capital registration fees for companies (under Part A) have been reduced across board.

“While capital registrations below N1m will retain a flat fee of N10,000; all registrations between N1m and N500m are reduced by 50 per cent; and all registrations above N500m are reduced by 25 per cent.”

Aganga said by this action, Nigerian companies would save over N2bn per annum, which they could use to hire more workers and expand their businesses.

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The wicked shall not go unpunished – Oyedepo tells hoodlums looting, vandalizing properties

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The wicked shall not go unpunished - Oyedepo tells hoodlums vandalizing properties

General Overseer of the Living Faith Church, Bishop David Oyedepo, has reacted to the ongoing vandalization and looting of government and private properties by hoodlums in the country.

Oyedepo declared that all the hoodlums taking undue advantage of the unrest in the country will not go unpunished.

The cleric made the declaration during his Sunday service on October 25.

The clergyman also prophesied that unrest in the country was over and that the peace of God has been restored back to the land.

“The sources of agitation will be wisely dealt with and favorably dealt with; the land shall rest again in the name of Jesus Christ.

“All the hoodlums who are taking advantage of this season, let hand be joined in hand, the wicked shall not go unpunished.

“Innocent people on the streets going about their own cause and businesses, they were in their shops, the only business they have.

“CAUTION! You don’t have a double life, you have only one, you don’t have a spare. Caution! I bind all activities of the devil behind every form of unrest being inflicted by hoodlums in the name of Jesus,” he prayed.

 

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I have no plans of relocating, Laycon tells fan

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I have no plans of relocating, Laycon tells fan

Laycon, winner of Big Brother Naija season 5 edition has made it known that he has no plans of relocating outside Nigeria, in spite of all that is embroiling in the country.

His statement comes after one of his Icon fans expressed that few of the ex-housemates are planning to relocate outside the country, asking what Laycon plans on doing.

Laycon, thereafter, restated his love and commitment to his fans, adding that for him to leave the country, he would have to go with all his fans.

 

 

The fan identified as Amara wrote on Twitter:

“Vee, Neo, Nengi, Ozo dey plan japaa, only Laycon still dey write motivational tweets. @itsLaycon which way na?!”

In response, he tweeted:

“If I wan japa, I gats carry all my icons with me… So until that one dey possible, I dey here with Una.”

See post below:

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Untrained soldier flogs woman at ATM stand for telling him to join the queue

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Untrained soldier flogs woman at ATM stand for telling him to join the queue

A Nigerian lady, Ada-oma, has take to social media to recount her experience in the hands of a soldier with the Nigerian Army.

According to her, she was at an ATM machine of the UBA branch at Oshodi area of Lagos when a soldier  approched her, flouting the the rules of an existing queue.

The said soldier reportled assaulted Ada-Oma after she asked the uniform man to join the queue.

 

 

Taking to Twitter, she wrote,

“Hello Nigerians, I was just assaulted by an army official this morning 26/10/2020 at the ATM stand of @UBAGroup at their oshodi branch. i’m still shaking and crying as i write this because i have never felt this way in my entire life.

“I’m also scared writing this because he Threatened me. so my Life is your hands Nigerians.
I was on the ATM queue and this @NigerianArmy official asked me to move so he can pass, i asked him if he was on the queue that there is a queue, he asked me to move,i moved and continued asking him if he was on the queue, he flared up as you will see in the video below, and before i knew what happened he brought out his belt and hit me.

“This happened at your branch in oshodi and your security men were there. He hit me!!!!! I literally cried my way to the office. I never insulted him.

“Only asked if he was on the queue and he got angry and furious and violent. He threatened to make me bleed blood, in my own country because i asked if he was on the queue.I want justice.”

Watch the videos below:

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