Y would a biz man not pay tax, buh you all defending them if u work, u pay tax, on every item u buy u pay tax, so y would a billionaire fail to pay common 30mil, isn't that wickedness??, d next tin u guys do Is turn it into a tribal affair........ I weep for u easterners

joeprince23:
GOD nigeria is in trouble! All federal agency have suddenly began to hunt most dissident and opposition voices,you may fern ignorance but believe me we are no longer save especially we from SS and our brothers from SE. Buhari even made this clear with his 95% and 5% anology...

Is Adenuga an opposition voice?

Is Jimoh Ibrahim an opposition voice?

Why do people just defend criminality?

You do realize that tax evasion is a crime?

Did AMCON help Ubah to borrow 100bn?

There is no clime where "tax evasion" is condoned. Individuals go to prison for this in sane societies. Wesley Snipes spend some years in jail for tax evasion.

Let's not be unduly sentimental!

You can argue that the government is not doing anything with your tax. The tax law does not recognize that excuse for tax evasion. Just vote them out at the next elections.

IT IS A CRIME TO EVADE TAX!!!

Even paying ur tax is now witch hunting, i tire for this wailers fowler continue with ur job jare

shamecurls:


Read the article before you jump into conclusions

what exactly did the article say? Mr Readers Digest

joeprince23:
GOD nigeria is in trouble! All federal agency have suddenly began to hunt most dissident and opposition voices,you may fern ignorance but believe me we are no longer save especially we from SS and our brothers from SE. Buhari even made this clear with his 95% and 5% anology...

When it's other regions, it's prudent measures. But if it's the East or South South, it's witch-hunting.... you need Jesus - ASAP!

Is this new trend with apc govt? From looting to tax invasion. God help us

omolola15:
Ok

am in to marketing....i work in roasabon financial service in sabo-yaba in lagos state.... i need to spread my market on social network i.e nairaland

zuchyblink:
there are other ways to do this

I believe going to their houses and kneeling down to beg them to pay their tax is the "other"way to do it right?


Every kid now think they have an opinion.

Only foolz would see an ethnic undertone in this. A company deprived the government of due tax and has attracted the attention of the FIRS. Simple. Tax evasion is a crime.

hmmm

omolola15:



This country is in trouble. Our so called leaders of tomorrow can't even read and comprehend. Their thinking is one way. They can't look at things from another perspective. They are quick to think negatively. How will we move forward if we reason the same way all the time.

Earlier today there was a thread about adenuga and his debts. My proud yoruba brothers never shouted which hunt or support him. We all know he's guilty. Right now you are all here shouting which hunt and marginalization. One mumu even said common 30 million.

They visited folawiyo first. That was why his company wasn't closed. They got late to capital oil, so there was no way they can pay again by that time. If you read the article very well. You'd have understood what happened. But as usual. You start shouting which hunt.

Even my little niece would understand the article. And he's just 7

I'm disappointed in you pipu.

Even Almighty LIONEL MESSI is in court for tax evasion

My brother I tire for them ooo. Anything the Govt does, they must give it ethnic or religious colouration. The future is really bleak if these youth ever get to leadership positions.

Anyi3:


It is quite possible they visited Capital Oil late in the day and the other one earlier.

Instead of you being happy, a businessman is being forced to pay his tax you're crying over your brother who very likely doesn't know you exist. Tax evasion is a crime be you Igbo or yoruba.

I am Igbo

shut your putrid mouth


so why didn't they visit capital oil in the morning then visit others later in the day? and why was capital oils appeal not considered but the others appealed and where given soft landing.


Yes you are an igbo.... phool

xtgozie:
They sealed that of a South-East man who owes 30million, but the one that owes 430 was pardoned for another day.... I'm a tribalist, ngwa make una chop me!

U are not a tribalist Bro! What is good for the goose, is good for the ganda too! That's how peace and progress can reign in our land!

brainpulse:
Read with your head before commenting with your teeth.This is done in all civilized society all over the world. Tax evasion is a serious crime and the mighty are not speared. Folawiyo's company was not speared also. These were all nonsense GEJ allowed. Now we have a country. Why do you people like associating with all criminal acts.

tribal begot....what's good for the goose is good for the gander, why not give Capital oil the same grace


ZOMBie Alert

When this news came up in the morning, the mod refused to push it to fp

[b]ConOil, owned by Nigeria’s second richest man is
being pursued for a combined debt of over $
140.5 million by two foreign and one local
companies, PREMIUM TIMES has learned.
Despite making several pledges to pay, ConOil
and other companies owned by Mr. Adenuga
have reneged on paying the debts, multiple
sources in the oil and gas sector have told this
newspaper.
Things have got so bad that some of the creditor
companies have either commenced or are
considering commencing legal actions to force
the billionaire businessman to pay up having
exhausted all options to make him honour
promises and agreement to pay.
In fact, one company has successful secured an
interim order from a federal court to place one of
Mr Adenuga’s companies under receivership.
The increasing debt profile of the telecom and oil
mogul, who increased his net worth by almost $5
billion in the last year, according to luxury lifestyle
magazine, Forbes, has hit some his creditors so
hard that they had to shut down some of their
operations.
One of such companies is Depthwize, a local oil
servicing company, which is owed $40 million by
ConOil.
The refusal of the management of ConOil to pay
Depthwize, a small drilling contractor has forced
the company to lay off workers and shut down
services on two of ConOil’s rigs until the money is
paid, those familiar with the matter said.
“Depthwize says it can no longer afford the day to
day running cost of working on the rigs,” one
source said.
Similarly, American oil and gas firm, Baker
Hughes, was forced to lodge a court petition to
wind up one of Mr Adenuga’s company, Belbop
Nigeria Limited, over a USD $12.09 million bill
they had been unsuccessfully trying to get the
company to pay.
Baker Hughes argued that in 2009, Belbop
awarded it a contract for the provision of
directional drilling, MWD/LWD services and supply
of drilling fluids and drilling bits, Logging cabin
and surface acquisition system.
The company told the court that after it duly
discharge its obligation and rendered all requisite
services, Belbop refused to pay. Baker Hughes
said it incurred a liability of $9.4 million in the
course of executing the contract.
On April 12, 2016, Babs Kuewumi of the Federal
High Court in Lagos placed an interim injunction
on the accounts of Belbop pending the
determination of suit.
The judge therefore appointed the Chief Registrar
of the Federal High Court as the receiver/manager
of Belbop until the substantive suit is determined.
Mr Adenuga has also been given multinational oil
firm, Total, the runaround over a $28.5 million
debt it owed the French oil giant since 2009.
Although Total has been trying to resolve the
debt without litigation, the refusal of Mr. Adenuga
to pay the debt has forced the company to stop
work at OML 136 gas field. Total is ConOil’s
technical partner in the project.
At a meeting held with Total in November 2015, it
was agreed that ConOil would pay the $28.5
million dollars owed before January 31 2016.
That meeting, which minutes is in the possession
of PREMIUM TIMES, was chaired by Mr. Adenuga
and attended by four executives from Total.
But those familiar with the matter told this
newspaper Mr. Adenuga’s company is yet to pay
up. All attempts by Total to make him release the
money have also failed, insiders said.
Some said they are baffled by Mr Adenuga’s
refusal to pay Total the $28.5 million, which
would have seen work commence on the lucrative
oil field.
The OML 136 asset is considered to be one of the
largest gas fields in Nigeria, with a proven reserve
of 11 trillion cubic feet (TCF) of gas. The
exploration of the oil assets would have boosted
Nigeria’s economy by creating jobs and would
have yielded massive return to Total and ConOil,
they explained.
When contacted, Total’s spokesperson, Charles
Ogan, in an email to PREMIUM TIMES, said the
matter is an “obvious internal administrative
subject.”
Also, ConOil is engaged in a decade-long dispute
with British oil firm, Vitol, over its alleged failure to
pay a $60 million debt incurred from lifting of
cargoes of refined petroleum products.
Vitol secured a court judgement in the UK in
respect of the debt but has been unable to
enforce it in Nigeria because ConOil got a stay of
execution from a Nigerian court.
Conoil’s financial problems, PREMIUM TIMES
gathered, may have been caused by Mr
Adenuga’s slowness in taking advantage in
potential money earners for the company.
For instance, in 2005, ConOil was granted
exploration licence for OPL 257 by the federal
government, but the company surprisingly left
the block fallow until its licence expired. Now it is
frantically asking the government for a two-year
extension of its expired licence to enable it
explore the field.
On January 22, 2016, Taiwo Olushina, the
managing director of ConOil, wrote a letter to the
National Petroleum Investment Management
Services (NAPIMS) blaming insecurity, high cost
of drilling and technical hitches for its failure to
explore the field before the expiration of the
licence.
“Having attended to technical and financial
challenges peculiar to ultra -deep offshore blocks,
this approval will provide us with ample time in
drilling three identified prospective locations in
preparation for further development towards
boosting national oil and gas reserves and
production,” the letter read in part.
The spokesperson for Mr. Adenuga, Bode
Opeseitan, could not be reached to comment for
this story. He did not answer or return calls
seeking comment.
Another spokesperson ducked when approached
by this reporter to comment for this story.
Despite being identified by Truecaller app, Mike
Oduniyi told PREMIUM TIMES that we had reached
a wrong number and promptly terminated the
call.


Tax palaver and bad loan
Mr Adenuga’s companies have also had tax issues
in the recent past. In 2009, the Federal Inland
Revenue Service (FIRS) sealed the Lagos office of
ConOil, and Continental Oil and Gas, another
company owned by the businessman, over the
non-remittance of $610 million tax to
government.
Last month, seven years after his companies were
first sealed, the FIRS shut the Lagos office of
Globacom, the second largest mobile telephone
company in the country, owned by the billionaire,
for allegedly failing to remit Value Added Tax
worth N24.3 billion.
Earlier in February this year, the Osun State
Internal Revenue Service (OIRS) sealed the offices
of the telecommunication firm in the state for
failing to pay outstanding taxes and other levies
in respect of mast/ base stations and laying of
fibre optics.
The state said several meetings were held with
the company’s representatives in the past three
years to resolve the issue, but that the company
failed to comply.
The Asset Management Company of Nigeria
(AMCON) also listed Mr. Adenuga as one of the
country’s biggest debtors for a N2.4billion loan
his real estate company, Convenant Apartments
Complex Limited, took from Wema Bank.
AMCON acquired the loan from the bank in 2010,
after Convenant Apartments failed to pay up.[/b]

www.premiumtimesng.com/news/headlines/205953-special-report-adenugas-mountain-debt-several-firms-amcon-chase-billionaire-unpaid-bills.htm

And they say this is not witch hunt a man owing 40 million his company was sealed and an occupier in it ejected . Even when they were told that they would remit the money they gave excuse that it bank was closed for the day and another owing 450 million, was pardoned and you I don't smell tribalism, and witch hunt in this I S.M.H for this country. Naija which way.

Doing business in Nigeria is very difficult. By the time you spend money buying diesel to power your generator,you realise you've exhausted all your profit which makes it difficult to pay tax. The Govt have failed to provide basic infrastructure that would've made life a bit easier for the citizens. If there is constant power,a lot of business would be able to pay tax from profits made,IMO!

Boeing777pilot:


Because of people like you, service providers should test IQ of potential customers.

This is disgraceful attitude by FIRS..shiooor!! How can you mix people owing N100+ million with people owing common N1 million.. someone must call this FIRS oga to order. HABA!!

zuchyblink:
there are other ways to do this

unfortunately in Nigeria both govt and the people don't respect that civil ways but strikes and shutdown

Thank God for the federal Govt renewed drive for tax revenue.. What the Govt need to turn around the nation is already in the land..tax the taxable & use the money for proper development. Oil revenue should be 30% or less ,let this be the new focus & we shall see how things will change for better in the land. We have nations who have no much natural resources but they are surviving very well through proper taxation system . .Under two years,things will change like they are in Lagos state. With or without federal allocation,Lagos state can survive very well. This is as a result of financial reengineering of the state's financial system. .

xtgozie:
They sealed that of a South-East man who owes 30million, but the one that owes 430 was pardoned for another day.... I'm a tribalist, ngwa make una chop me!

Pls wat is d name of the director of enforcement again?

joeprince23:
GOD nigeria is in trouble! All federal agency have suddenly began to hunt most dissident and opposition voices,you may fern ignorance but believe me we are no longer save especially we from SS and our brothers from SE. Buhari even made this clear with his 95% and 5% anology...

Everything is always about "Witch and Hunting", in the minds of all you these greedy, confused, lost tribe of Arabia!!

Upon all the never-ending Price increases of Petrol, how come your "Bloder" Andy Ubah cannot pay his Tax liabilities?
Even small individuals like me cannot escape paying Tax!

The is a crook is even lucky that he was not sent to jail, as would likely be the case in advanced countries for serious Tax evasion.

Go and ask Wesley Snipes, what sent him to Jail in the US, despite his popularity.


Pay your Tax, its a civil responsibility ......and criminal not to.

ofcourse, all those tribal fools will always find a way to point finger or say "why not this and that"




Lastpage!

I wait for the people from the SE to invade here screaming witch hunting.

xtgozie:
They sealed that of a South-East man who owes 30million, but the one that owes 430 was pardoned for another day.... I'm a tribalist, ngwa make una chop me!

my dear are you sawing what i see,no problem.

Reading comments here makes me realize how deeply divided we are in this country.

It would be hard for us to progress as a country if we don't change.

TAX INVASION is a serious crime and thus, should never be overlooked; and issues like this should never be politicized.

We want this country to be like a developed/civilized country but we are never ready to do what developed countries do...

Toll gates, my Brothers will shout. Pay your Tax, they'll shout...SMH

Let's change our approach please.....

Money miss road

Were they earlier served Demand Notice?

Capital Oil Ifeanyi Uba Igbo N30m Sealed

De Mange Igbo N20m Sealed

City Chef Igbo N2.1m Sealed

Comet Hotel Igbo N2.3m Sealed

Folawiyo Energy Folawiyo Yoruba N430m Not sealed

Makon Engineering Lanre Anafi Yoruba N26m Not sealed

omolola15:







This country is in trouble. Our so called leaders of tomorrow can't even read and comprehend. Their thinking is one way. They can't look at things from another perspective. They are quick to think negatively. How will we move forward if we reason the same way all the time.

Earlier today there was a thread about adenuga and his debts. My proud yoruba brothers never shouted which hunt or support him. We all know he's guilty. Right now you are all here shouting which hunt and marginalization. One mumu even said common 30 million.

They visited folawiyo first. That was why his company wasn't closed. They got late to capital oil, so there was no way they can pay again by that time. If you read the article very well. You'd have understood what happened. But as usual. You start shouting which hunt.

Even my little niece would understand the article. And he's just 7

I'm disappointed in you pipu.

Even Almighty LIONEL MESSI is in court for tax evasion

NB: It is witch hunt and not which hunt