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  The  Chairman of the Chartered Institute of Taxation of Nigeria (CITN), Abuja District, Ben Enamudu, has dismissed claims that bank balances are taxed under Nigeria’s new tax regime, saying only certain electronic transfers attract a ₦50 stamp duty and that the reforms are designed to shield low-income earners. Speaking in an interview with the newsmen on Tuesday, Enamudu said misinformation about the reforms—particularly around bank transfers and income thresholds—has caused undue concern among Nigerians. “The narrative out there, which is the wrong narrative, is that the money in your bank account will be taxed. There is no provision for that in our tax laws. Nobody taxes the money in your bank account,” he said. He explained that the charge applicable to electronic transfers is a stamp duty, not a tax on deposits or account balances. “When  you make transfers from your account to someone else, there is a ₦50 stamp duty that applies. However, if you maintain multiple ...

  Oil  extended losses on Wednesday after Donald Trump said Venezuela would turn over millions of barrels to the United States, while equities were mixed after a record-breaking start to the year. Crude has seen wild swings since the U.S. president ordered the toppling Saturday of Nicolás Maduro, his counterpart in Caracas, and said Washington would run the country while demanding “total access” to its key resource. But both main contracts sank more than one percent on Wednesday — having lost 1.7-2.0 percent on Tuesday — after Trump announced the latest development. “The Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America,” he wrote on his Truth Social platform. “This oil will be sold at its market price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States.” Analysts...

Controversial General Overseer of the Mountain of Liberation and Miracle Ministries, widely known as the Grace Nation International or Liberation City, Pastor Chris Okafor, on Tuesday reported to the State Criminal Investigation Department (SCID) in Panti, Yaba, after failing to respond to an earlier police invitation on Monday. The cleric’s appearance came after warnings from influential individuals who cautioned him on the implications of defying a lawful summons. The ongoing investigation centres on a case between Okafor and his estranged lover who is a Nollywood actress, Doris Ogala, currently being handled by the Assistant Inspector-General of Police (AIG), Zone 2 Command, Onikan. It was gathered that Pastor Chris  Okafor had initially dismissed the invitation on the assumption that the case was already being addressed at the zonal level, where he was the complainant and Ogala the suspect. “But some highly placed persons read the news that he shunned the police invitation and ...

  Venezuela’s caretaker president, Delcy Rodriguez, on Tuesday appointed a former central bank director to her cabinet’s top economic post, one she herself had held until the toppling of leftist leader, Nicolás Maduro. Rodriguez picked Calixto Ortega Sanchez, who led Venezuela’s central bank from 2018 to 2025 and also has a background in the oil industry. It was her first cabinet change since being sworn in as interim president Monday, two days after a U.S. military strike that led to Maduro being whisked away in handcuffs to stand trial in New York. Rodriguez held the same economic portfolio Sanchez will now take over, while she also served as Maduro’s vice president and oversaw Venezuela’s key hydrocarbons sector. In a statement on state TV, she said the government hoped “to consolidate” last year’s numbers going forward — citing a projection of the ECLAC regional economic commission of 6.5 per cent growth for Venezuela in 2025. The South American country’s economic outlook is co...

  The  angry confrontation between Nigeria’s duo of Victor Osimhen and Ademola Lookman has been resolved. This  was confirmed by the team’s media officer, Promise Efoghe, through their official medial channel. According to Efoghe, the incident has been handled internally, although he did not provide further detailed. “The  matter has been resolved within the team. We advise everyone to ignore all reports suggesting otherwise,” he said. Osimhen and Lookman were involved in a bust-up on the pitch during Monday’s 2025 Africa Cup of Nations (AFCON) Round of 16 clash against Mozambique. The  incident happened in the 64th minute with the Super Eagles already three goals up, thanks to Osimhen (brace) and Lookman. Osimhen appeared to confront Lookman over his decision to shoot rather than pass to him, before signalling to the coaching crew to take him off.

The W est African cinema industry recorded a strong performance in 2025, generating a total box office gross of ₦15.6 billion from theatrical releases across the region. The figure, compiled by FilmOne Entertainment, shows a total of 2.79 million people who went to see movies in cinemas in 2025, with 248 new films shown across 122 cinemas in West Africa. According to the scorecard posted on the film’s official Instagram page on Tuesday, 16 movies crossed the ₦200 million mark, while 14 Nollywood films earned above ₦100 million. The average movie ticket price for the year stood at ₦5,596. In the subcontinent, “Behind The Scenes emerged as the highest-grossing Nollywood title, while FilmOne Entertainment ranked as the highest-grossing distributor of the year.” Oth er category leaders included “Zootopia 2 as the highest-grossing animation, Sinners as the highest-grossing Hollywood title, and Demon Slayer: Kimetsu no Yaiba – The Movie: Infinity Castle as the top-grossing anime.” The data f...