we are watching

ok na

Looks like Optimus-prime's Son.

sleemoon:
5k for Dish and decoder!!!

DSTV (On ur tracks) [Get set] <disappear>

sleemoon:
5k for Dish and decoder!!!

DSTV (On ur tracks) [Get set] <disappear>

In line with the ongoing reforms in the nation’s freight forwarding profession, the President of the Institute of Freight Forwarders of Nigeria, Mr. Zeb Ikokide, announced at the weekend that the institute had changed its name to Nigerian Institute of Freight Forwarders (NIFF).


In a statement made available to newsmen in Lagos, Mr. Ikokide said that the re-branding of the institute reflected its commitment to changes in freight forwarding industry in the country.

He said that it was also due to the concomitant responsibilities imposed on her as an accredited professional organ of the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN).

According to him, the CRFFN Act 2007 gave the institute new responsibilities that had necessitated its re-branding to deliver top of the range professional training and services to members and stakeholders.

“The institute, among other things, has been charged by the council to provide a Mandatory Continuing Professional Development Programme for all freight forwarders.

SOURCE: https://brandspurng.com/freight-forwarders-rebrand-change-name-to-nigerian-institute-of-freight-forwarders/

This is to bring to the notice of the public that the Debt Management Office (DMO), on behalf of the Federal Government of Nigeria (FGN), wishes to introduce a retail savings product that will be accessible to all income groups – the FGN Savings Bond.


Kindly note that the FGN Savings Bond for September 2017 kicks off today.
Details are as follows;
ISSUANCE
MATURITY
2 Year FGN Savings Bond
September 20, 2019 : Coupon 13.817% per annum
3 Year FGN Savings Bond
September 20, 2020: Coupon 14.817% per annum
Opening Date
Monday, September 11, 2017
Closing Date
Friday, September 15, 2017
Settlement Date
Wednesday, September 20, 2017 (this is the date the bonds will be credited into your CSCS Account domiciled with your broker)
Units of Sale
N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.
Interest Payment
Quarterly (Coupon rate divided by 4)
Redemption
Bullet payment on the maturity date
Purpose
To deepen the national savings culture.
To provide opportunity to all citizens irrespective of income level to contribute to National Development.
To enable all citizens participate in and benefit from the favorable returns available in the capital market.
To diversify funding sources for the Government.
Benefits
Interest income is paid quarterly directly into bond holder’s account.
The Bond is acceptable as collateral for loans by banks and can be sold for cash in the secondary market before maturity.
Good for savings towards retirement, marriage, school fees, house projects, etc.
Safety: backed by the full faith and credit of the Federal Government of Nigeria.
Liquidity

The Bond will be listed on the Nigeria Stock Exchange for trading and provides liquidity for investors who want to exit before maturity.

Subscription Mode
Investors are to subscribe through stockbroking firms trading on the floor of The Nigerian Stock Exchange (NSE) and accredited by the DMO to act as Distribution Agents. (Please visit www.dmo.gov.ng for the list of accredited Stockbroking Firms).

How to Invest

https://brandspurng.com/introducing-fgn-savings-bond-offer-for-september-2017/

BMW AG is unleashing its biggest-ever sport utility vehicle, a brawny three-row luxury cruiser targeted at churning out fat margins to help fund the company’s shift to electric vehicles.


Featuring a massive vertical grille in the brand’s trademark kidney shape and glaring narrow headlights, the new X7 will go on sale next year to challenge the likes of the Cadillac Escalade, Lexus LX and Mercedes-Benz GLS. A prototype of the vehicle will be on display next week at the Frankfurt International Auto Show.

The X7 was revived after plans for a big SUV were culled almost a decade ago. At the time, the global financial crisis prompted BMW to rein in spending as high oil prices pushed consumers to smaller cars. But now, the German carmaker is counting on upscale models to shore up its bottom line as it invests in next-generation vehicles, such as the self-driving battery-powered iNext, which will take years to pay off.

While BMW this week announced plans to roll out 12 battery-powered vehicles by 2025, the bulky sport utility vehicle won’t be entirely at odds with the green-car shift. The company will show the X7, which will be built at BMW’s plant in Spartanburg, South Carolina, with a plug-in hybrid powertrain that can drive emission free for short distances.

“Electric mobility has absolute priority for us, and we’ll increase the number of electrified models across all brands,” Chief Executive Officer Harald Krueger said at an early unveiling of the car in Munich. Flanking that effort are plans to “increase sales and revenue from the high-end segment significantly,” including models like the glitzy 8-Series coupe, he said.

SOURCE: https://brandspurng.com/bmw-goes-big-with-three-row-suv-monster/

Tamarapetty:
is your safe??

Tamarapetty:
is your safe??

Just passing by

HTC?
ayam not surprised

The Tin-Can Island Port Command of the Nigeria Customs Service (NCS) generated N183 billion between January and August 2017, its Customs Area Controller, Yusuf Bashar said.


NAN reports that the customs area comptroller said this in a statement issued by the Public Relations Officer of the command, Mr Uche Ejesieme in Lagos on Thursday.

Bashar, who compared the amount to N156 billion the command generated in 2016, attributed the high revenue generated by the command to policies and plans aimed at blocking all areas of revenue leakages.

He said that the revenue for August stood at N28 billion, a development he described as the highest in the history of the command.

“But for the exclusion of 41 items from the Foreign Exchange window, the command could have doubled its revenue profile,’’ the controller said.

According to him, the command is becoming more thorough in its revenue drive, to the extent that all high-yielding revenue consignments are closely monitored to avoid circumvention of procedures.

The area comptroller said that the Customs headquarters expected so much from the command, assuring that the command would continue to develop adequate operational template and modalities capable of entrenching integrity in its operations.

Bashar said that all officers and men of the command had the compelling need to discharge their functions in line with the change mantra of the Comptroller-General of Customs, retired Col. Hameed Ali.

The controller said he would sustain and surpass the revenue target of the command in line with the expectations of the NCS management.

Bashar commended port stakeholders for complying with the fiscal policies of the Federal Government.

The controller urged port stakeholders yet to comply with the policies to toe the path of sanity through honest declaration.

He stressed that integrity, due diligence, honest declaration and transparency were key elements of Customs operations.

He also stressed the need for leadership skills and advised officers in charge of terminals and other senior officers to exhibit high moral standards.

The controller, who noted that high cargo traffic was usually expected at this period of the year, advised importers to desist from importing prohibited goods.

“All importers ought to be conversant with the external tariff, especially schedules 3 & 4,’’ he said.

Bashar urged patriotic Nigerians to oblige the command with credible information about illegal documentation, with promised that the identity of informants would be protected.

SOURCE: https://brandspurng.com/tin-can-customs-generate-n183bn-in-8-months/

Just about time we need somthing like this..
We dont just give out phones for kids to play with all in the name of encourging smartness or device usage ability.

am tripped..
This is encouraging.

I didnt see this coming..
Hu-are-we ke?

When buying a car, buyers are faced with a lot of options. Dozens of brands and hundreds of models are available from every continent, which, of course, is great news for buyers. It gives them an excellent choice and the assurance that they will find a vehicle that’s perfect for their needs and also perfect for their money. But which one to choose? There are so many models, and you can never be 100% sure about the quality of certain brands, regardless of the price.


Innoson cars are fast becoming famous for their reliability and they are one of the most popular choices in Africa currently. In fact, Innoson is defiantly stepping foot in other African countries after Mali ordered 400 cars.

Innoson cars might not be in every family’s garage, but they are certainly a great choice for quality-conscious buyers. Innoson vehicle manufacturing also boast of many sporty options with an eye-catching design that have won the hearts of many car buyers across Nigeria.

Buying an Innoson car is a reasonable choice, especially if we’re talking about cars that come directly from the factory. There are many reasons why purchasing such vehicle is a good option, which has to do with the quality that comes with the cars.

First of all, you need to know that driving in Nigeria is not as convenient as in other countries. Especially in large cities like Lagos and Abuja, the traffic is so busy that it makes more sense to travel by a public transport, and we took all these in mind to manufacture a car that can stay in traffic without overheating, go on long trips without breaking down and consumes less fuel.

Safety:
At Innoson Vehicle Manufacturing Company we value lives and that is why we put safety first. We put our nose to the grindstone to manufacture cars that can outlive other competitive cars. We do this without minding how long the production will take us. Our cars undergo rigorous testing before we put them out to be sold. The safety control system, including its BOSCH ABS+EBD system, 2 SRS airbags and high-rigidity body-cage structure, forms an impeccable safety shield just like a bodyguard protecting you from any danger and allowing to completely enjoy your driving experience

Fewer Service Visits:
Innoson Vehicles are durable long-lasting vehicles. All Innoson cars sold 3 years ago are still on the road, squeaky clean just like the day it was bought. Innoson cars last a long time and save you the stress of constantly visiting a mechanic to haggle one issue or another. What more can you ask for from a car manufacturing company that gives three years warranty on Engine, Axles, and gear.

No Overheating:
Overheating is an Engine greatest enemy. It can ruin your day and make you regret why owning a car. In responding to the Nigerian hot environment, IVM built in additional fans to the AC condenser together with the one of the radiator. The AC condenser has two fans while the radiator has a big fan making it three sets of fans. This unique feature is one of the reason while IVM vehicles esp. its buses and SUV hardly overheat.

Reinforced Shock Absorbers:
When we think of smooth drive, we usually think of horsepower and top-performing engine. However, little of us are aware that powerful engine is pretty much useless without driver’s ability to control the car. That’s where shock absorbers take the stage. As their name entails, shock absorbers, literally absorb unpleasant effects of bumpy roads and unavoidable holes thus enhancing driver’s control over the vehicle as well as the overall comfort of all passengers. Our cars has a strong shock absorber that makes driving fun even.

Nigerian-Made Features
The Innoson brand boasts an impressive amount of Nigerian-made content, we manufacture our cars from scratch with authentic Nigerian contents. Furthermore, we took account of all problems a Nigerian car owner faces on the road and developed an antidote for such hazards in our cars like building a car that can withstand the harsh Nigerian sun, unending potholes etc.

Comfort:
Comfort is the most common thing everyone looks at when buying a car. Since the invention of our first car, the challenge of enhancing passengers’ comfort has been a major part of our manufacturing process. Various technologies, including its intelligent weather-sensor system and automatic induction headlight system, will bring you to a new level of human—car interaction.

Fuel Economy:
Innoson cars come with a continuously variable valve lift mechanism designed for low fuel consumption. The Engine has the capacity to produce a high output, at low fuel consumption and low exhaust emission.

Also, we’ve partnered with Sterling Bank to enable Nigerians to own a car with ease. Through our IVM auto finance scheme, Nigerians can now own a car, drive home and pay as you go!

All our existing and future range of automobile brands are available through this auto finance scheme and we are not relenting in our efforts to partner with many more Nigerian banks.

So what are you waiting for?

1) Choose your preferred vehicle.

2) Walk into any Sterling Bank nationwide to open an account for auto finance processing.

3) Contact us for the pro forma invoice of your preferred vehicle after Sterling Bank account opening confirmation.

4) Pay the required 25% down payment and wait for your vehicle to be delivered to you wherever you are in Nigeria.

Are you thinking about getting an Innoson car?

Then hurry.

To Purchase Innoson IVM cars and make further inquiries

https://brandspurng.com/7-reasons-why-innoson-cars-can-be-relied-on/

Brandzone in collaboration with the Centre for Values in Leadership (CVL) founded by Professor Pat Utomi is hosting a 2-day National Branding Conference themed ‘Branding: A Catalyst for Development and Growth’ at the Oriental Hotels from Tuesday October 17 to Wednesday October 18, 2017. The conference is designed to create a distinct image that will position the nation positively in the minds of her citizens and the international community.


In its 4th year, the conference is an annual Thought Leadership Series – Brand Innovation Conference, created by Brandzone Consulting. This year’s conference is a strategic response to the country’s quest for an appropriate narrative for country, and the need to project her diversity to the world. Specifically, the conference will address the need for Nigerians to take ownership of and start promoting more positive narratives around ‘Brand Nigeria’.

With practical insights from the some of the country’s most accomplished business leaders, policy makers and entrepreneurs, this year’s national branding conference shall be chaired by Mrs. Ibukun Awosika, Chairman of First Bank of Nigeria. It is anticipated to stimulate deliberations that will provide a framework for creating appropriate narratives about Nigeria. Additionally, the framework will halt continued interpretation of the country through a limited prism at the expense of her highly-diversified economy and enterprising population.

As Nigeria’s most influential industry conference, the annual Brand Innovation Conference is a transformation platform that leverages its extensive network of experienced and accomplished speakers to offer perspectives on and proffers solution to issues of national, economic and social importance.

Accordingly, this year’s conference will kick-start the journey to creation of positive narratives that will showcase areas of endeavours currently driving positive development and creating growth opportunities for the nation. Contributions of sectors such as solid minerals, mining, agriculture, travels, hospitality, globalization and entertainment, fashion & life style will be accentuated to substantiate the place of SMEs as the growth engines of the Nigerian economy.

Speaking on the conference, Chizor Malize, Managing Partner, Brandzone and Convener Brand Innovation Conference noted “the National conference will serve as a precursor to an envisioned national branding story that will create a sense of pride in Nigeria and earn Nigeria the admiration and collaboration of the international community, particularly the leading nations of the world. We have identified experienced speakers and industry thought leaders who have done remarkable great things building credible operations and businesses across the public and private sectors such as technology, banking, manufacturing, telecommunications, consumer goods, SMEs, entertainment and style.

These speakers shall highlight their areas of impact in the diverse sectors, sharing the core positive attributes that have driven the demonstrable success, which have catalyzed growth in their diverse areas of endeavor and the nation as a whole. The objective is to tap from such remarkable performances to find positive narratives capable of providing opportunities in defining the nation’s core essence”.

Earlier, Prof. Pat Utomi, Co-Convener of the 2017 Brand Innovation Conference had said that “the conference will provide a realistic outcome that will serve as resources driving a positive change in mind set while creating the much-required narratives for Nigeria and empower every Nigerian with appropriate themes to project the country”.

The conference is focused on achieving collective intelligence and hinged on collection and documentation of fresh knowledge and insights.Therefore, the two-day event will start with plenary sessions with resource and faculty drawn from the public and private sectors, while day two of the conference will run as a workshop where participants will create a national brand experience journey as part of the process of mapping our strong brand narrative.

In addition to the plenary sessions and workshops the National Branding Conferenceis designed to have an exhibition of high opportunity sectors such as SMEs, Agriculture, Agro allied products, technology, production and locally produced consumer goods which contribute to development and growth and combine to create positive stories for the nation. The conference shall provide fresh insights and new knowledge to continue creating the most innovative strategies and ideas for projecting our nation positively.

SOURCE: https://brandspurng.com/brandzones-branding-conference-to-discuss-national-development/

Kia Motors Europe has announced a range of upgrades to the Sorento, the company’s seven-seat flagship SUV. The new Sorento will be on public display for the first time at the 2017 Frankfurt International Motor Show, and is due on sale across Europe from Q4 2017.


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The new Kia Sorento features a refreshed exterior and interior design, and is available with Kia’s latest safety and in-car connectivity technologies. A new GT Line variant is also available, as well as an efficient new eight-speed automatic transmission for 2.2-litre diesel model.

Related image

Michael Cole, Chief Operating Officer of Kia Motors Europe, commented: “The Sorento accounted for 15,769 sales across Europe in 2016, and it remains an important contributor to the company’s sustained sales growth. The current model has a broad appeal among buyers, with a combination of high practicality, handsome design, and good value. Upgrades to the car’s exterior and interior design, safety, and in-car technology all add to the appeal of the car and will ensure sales remain strong.”

Related image

Kia’s designers have made a series of modifications to the Sorento’s exterior design. These include revised front and rear bumpers, new LED head- and tail-lamps, and a new dark metallic finish to the ‘tiger-nose’ grille. The result is a more sophisticated and purposeful front-end appearance. New Rich Espresso and Gravity Blue exterior paint finishes are now available, as well as a new design for the Sorento’s 17-, 18- and 19-inch aluminium alloy wheels.

Inside, the cabin features a newly-designed steering wheel and driver instrument cluster, as well as a new climate control LCD display. The dashboard also features a new Audio-Visual Navigation (AVN) system (see ‘Technology’).

The new Sorento features an increased proportion of soft touch materials and leather for a more premium cabin ambience. Customers can specify the interior in single-tone (black) or two-tone (black and stone beige), with cloth or leather upholstery. Optional brown or light grey leather upholstery is also available. The driver and front passenger seats are equipped with four-way and two-way adjustable lumbar support respectively, to enhance seating comfort.

The new Sorento is the first SUV from Kia available with the company’s new eight-speed automatic transmission. Designed in-house by Kia and launched in 2016, the transmission boasts 143 newly-patented technologies and delivers a slick-shifting, more decisive drive, while reducing emissions slightly.

The new eight-speed automatic transmission is available on Sorento models powered by the 2.2-litre diesel engine, replacing the six-speed automatic transmission (a six-speed manual transmission is also available). Compared to other automatic transmissions, Kia’s new eight-speed unit requires fewer control valves, enabling a more direct mechanical link to the engine. This allows the transmission to shift more quickly than the outgoing six-speed automatic transmission. The greater choice of gears enables more decisive acceleration, while reducing CO2 emissions from 172 to 159 g/km.

The new transmission offers four different drive modes: Eco, Comfort, Sport and Smart. Drivers can select their preferred mode with the Sorento’s electronic Drive Mode Select system. Each mode enables the driver to customise the powertrain’s responses to driver inputs, enhancing fuel economy or acceleration characteristics depending on driver preference. The Drive Mode Select also adapts the weight of the rack-mounted power steering system, for more relaxed or more immediate, engaging steering responses. The new Smart Mode is designed to understand and anticipate the driver’s steering preferences, automatically switching between Eco, Comfort and Sport modes. This enables the Sorento to adapt to the driver’s steering behaviour as road conditions change, pre-empting the driver’s preference for different speeds and driving environments.

SOURCE : https://brandspurng.com/newly-designed-kia-sorento-to-go-on-sale-q4-2017-pictures/

Infinix Mobility, Africa’s leading smartphone brand and makers of Infinix Hot, Hot 2, Hot 3 and Hot 4 announces the launch of the latest Infinix Hot series smartphone ‘Infinix Hot 5 and Hot 5 lite in Nigeria.

The announcement from Infinix was made with launch partners Jumia as its exclusive online partner and Slot Limited as its exclusive offline retail partner. The new Infinix Hot 5 and Hot 5 lite is promoted as Nigeria’s first Mobile cinema smartphone, which ensures real time mobile viewing with its 5.5HD display, dual front speakers and 3D Dirac stereo to enable users optimize their mobile experience.
Powered by Android 7.0, the new I offers the customized user interface XOS 2.2 on 4000mah battery life, which ensures 35hrs talk time for all users. The well-equipped affordable smartphone also offers internal 16GB ROM and 2GB RAM for speed targeted at Hot series fans & trendsetters stated Regional Country director Infinix Mobility ‘Mr Bruno Li’ at the product briefing.
According to Jumia, Infinix Hot 5’s predecessor was the best seller on their platform in 14 countries and Infinix Hot 5 would deliver a bigger success in the African market based on its specifications.

SOURCE: https://brandspurng.com/infinix-mobility-partners-with-jumia-slot-to-launch-hot-5-lite/

In collaboration with Mercedes-Benz Headquarters, Daimler AG, Weststar Associates (Authorized General Distributors of Mercedes-Benz passenger cars and commercial vehicles in the Federal Republic of Nigeria) recently held a one-week product training in its premises. Participants included nationwide dealers as well as dealer representatives from various African countries such as the Gambia, Rwanda, Ghana and Nigeria.

The product training which was organized by Daimler AG, was jointly coordinated by Abdul Ligali, head trainer, Weststar Associates and Uwe Strauss, certified global trainer for Mercedes-Benz passenger cars. The primary focus of this year’s training was to equip sales staff, customer relationship personnel and other Mercedes-Benz dealers with technical knowledge needed for the incoming products to be launched later in the year; some of which include the new S-class, the X-class and the recently launched GLA and GLC.

Speaking with one of the trainees, the Marketing director for Akagera Business Group in Kigali, Rwanda – Roopak Gorajia stated, “It was quite an exciting experience, getting to interact with professionals from different countries while learning about the new Mercedes-Benz products and analyzing various African markets.”

Since inception, Weststar has organized technical and non-technical trainings for staff, dealers, and customers in order to expand the knowledge base of all employees and meet the various needs of customers. An in-house training department was formally set up in 2012 to accommodate more trainees with over 2000 participants attending various categories of trainings such as drivers trainings, product trainings, sales trainings, customer service relationship trainings, etc.

Mr. Mirko Plath, MD/CEO, Weststar Associates expressed his thoughts after the training stating thus, “Considering the remarkable training facility we have here in Nigeria, we were pleased to host other countries as this exposed us to networking opportunities and new perspectives on how to expand the Mercedes-Benz market in the country.”

SOURCE: https://brandspurng.com/weststar-hosts-global-training-for-mercedes-benz-dealers-from-around-africa/

Nice one OP...
FP worthy

Nice one OP...
FP worthy

Oya na, Lets go there.

Between January and September 2017, a total of 852 cases of domestic violence and related cases were recorded in Lagos State, the State’s Domestic and Sexual Violence Response Team has disclosed.

etween January and September 2017, a total of 852 cases of domestic violence and related cases were recorded in Lagos State, the State’s Domestic and Sexual Violence Response Team has disclosed.

Speaking on Tuesday at a media parley held at the Bagauda Kaltho Press Centre in Alausa to commemorate the Domestic and Sexual Violence Awareness Month, the State’s Attorney General and Commissioner for Justice, Mr. Adeniji Kazeem, said out of the total number, there were 564 domestic violence cases, 60 defilement cases, 30 rape cases, 11 attempted rape, 123 child neglect and abuse cases, and 84 other cases.

Mr. Kazeem, who is also the Chairman of DSVRT, disclosed that the trend from the data showed an increase in men coming forward to report cases of domestic violence, just as he said that this year alone, a total number of 55 men came forward to report in contrast to 14 men that reported last year.

He said the data revealed that most of sexual assault cases were perpetrated in the afternoon during weekdays, while corroborating that 95 percent of the perpetrators of sexual violence are known to the victims, which according to him, necessitated the need to embark on sensitisation campaigns for parents on parenting skills and child abuse prevention tips as well as training for children on child’s rights, child abuse, safety, and how to preserve evidence.

While some of the cases have been charged to court, Mr. Kazeem said the State Government through the Ministry of Youth and Social Development and other stakeholders, provided shelter for the survivors.

Aside from that, Mr. Kazeem said all the survivors of sexual assault received medical attention from comprehensive Primary Health Care Centers and referral centers, among other efforts to properly rehabilitate and re-integrate them into the society.

Mr. Kazeem, however, noted that under the present administration, the interventions of DSVRT were gradually breaking the silence around issues of sexual and gender based violence in the state.

“There is a growing confidence urging people to speak out more, there is an astronomical increase in reporting of cases in the media. Lagos has indeed revolutionized the way sexual and gender based violence is being tackled in Nigeria with all the pioneering initiatives of Governor Ambode,” he said.

Besides, the Attorney General revealed that the State Government has concluded plans to launch a short service code that would afford residents the opportunity of reporting cases of domestic violence, sexual abuse, child abuse, and other related offenses with ease.

He said the initiative was aimed at ensuring that victims of all forms of abuse reach out to the appropriate agencies and receive timely information on what to do and where to get assistance.

“This would be achieved by members of the public using keywords, that is, ‘Child Abuse to 6820’ or *6820#, and an interactive menu browser to get the relevant information from such users such as name, location, specific case or complaint which would, in turn, ensure that the whole response team is automatically activated.

“Anybody that needs to report a case of child abuse, rape, or domestic violence or requires a child or a woman to be rescued can make use of the platform and should receive timely and accurate information,” Mr. Kazeem said.

SOURCE: https://brandspurng.com/lagos-records-852-domestic-violence-cases-in-nine-months/

agbo dudu

Let the common man feel it first.
.05 or 0.055

Let the common man in the street feel it first.

okies

Making calls to....

ok

London remains the leading hub, offering a still unbeatable combination of size and international appeal. It continues to attract, as well as generate, the largest number of foreign direct investment projects in financial services: 232 and 532, respectively, for the four years to the end of 2016. It hosts the biggest outstanding volumes of international debt securities, based on the issuer’s country of residence ($2964bn) and a healthy 18.83% ratio of foreign listings of the total floating on its stock market.

Furthermore, the city’s financial services cluster is expanding, with 1208 new firms launching operations in London between June 2016 and early May 2017, according to data provider Dun and Bradstreet, bringing the total to 49,185.

New York in profit
In second place, New York continues to impress for the size of its capital markets and the profitability of its banks. Its largest banks – the 11 large enough to be included inThe Banker’s 2017 Top 1000 World Banks ranking – closed 2016 with pre-tax profits of $88.68bn, a figure more than four times that of London. While only nine lenders were included in the banking analysis of the UK hub (the number of London-based Top 1000 banks), their total assets were only marginally smaller than New York’s, making the profitability comparison all the more relevant.

Singapore also performed well and improved its ranking, overtaking Hong Kong to come in in third place. Among the city-state’s distinctive attributes are a high-quality regulatory environment – the best of all IFCs, according to the World Bank, which considers financial and investment freedoms among many other indicators in its assessment. An overall good environment for businesses continues to attract solid numbers of FDI.

Dubai in Top 10
Dubai has been ranked 10th in The Banker magazine’s annual International Financial Centre (IFC) rankings, placing it alongside hubs such as London, New York, Hong Kong and Singapore.

Since its establishment in 2004, Dubai International Financial Centre (DIFC) has become the leading financial hub for the Middle East, Africa and South Asia (MEASA) region. In the first six months of 2017, the Centre grew by 6.2% to 1,750 incorporated companies. This followed 14% growth over the course of 2016.

DIFC offers all the elements found in the world’s most successful financial industry ecosystems, including an independent regulator, an independent judicial system with an English common-law framework, a global financial exchange, inspiring architecture, powerful, enabling support services and a vibrant business community. DIFC is constantly looking to lead innovation, which led the recent launch of FinTech Hive at DIFC. FinTech Hive is a first-of-its-kind accelerator in the region, which brings cutting-edge financial services technology to the broader MEASA.

The Banker, part of the Financial Times Group, published its annual survey on the leading IFCs on 1 September 2017. The ranking focuses on the level of international business and the value offered to institutions seeking to expand their international operations. It is based on data ranging from financial markets indicators to economic potential to business environment factors.

Methodology

The Banker’s ranking of IFCs is based on data ranging from financial markets indicators to economic potential to business environment factors. A total of 82 indicators have been used in our analysis. The ranking focuses on the level of international business and the value offered to institutions seeking to expand their international operations. In recognition of the fact that data for specialised financial centres is seldom consistent with that for mainland financial centres, The Banker has surveyed each specialised IFC and has compiled a separate table using information relevant to these locations. Publicly available data sources were used as well as The Banker Database and FDI Markets.

SOURCE: https://brandspurng.com/london-remains-no-1-worlds-financial-centre-2017-dubai-and-jborg-is-10-and-39/

The Federal Inland Revenue Service (FIRS) through tax collections, generated the sum of N2.11 trillion as revenue from January to July, 2017.

This is contained in a progress report of the FIRS from January to July, 2017 obtained by the News Agency of Nigeria (NAN) yesterday, showing their revenue performance and impact of the new tax regime.

The aggregate revenue projected in the 2017 budget is N4.94 trillion, out of which oil revenue will contribute N1.98 trillion.

This is based on an estimated crude oil production of 2.2 mbpd converted at an exchange rate of N305 to a dollar.

Non-oil revenue for the year is projected at N1.37 trillion, which represents about 28 per cent of the budgeted revenue.

Independent revenues, various recoveries and mining will account for the balance of about N1.58 trillion.

A breakdown of the report showed that the FIRS from January to July this year collected N720.28 billion as Petroleum Profit Tax (PPT) while the Value Added Tax (VAT) revenue collected in the same period was N548.22 billion.

The federal government had also collected the sum of N679.9 billion as Company Income Tax (CIT) and N91.4 billion as Education Tax collection.

The report also showed that consolidated tax revenue for the first seven month of the year was N62.3 billion, which already supersedes the N59.8 billion generated from the area in the entire 2016 financial year.

Also, the service recorded success in boosting its collection of National Information Technology Development Fund (NITDEF) levy, which went from N6.75 billion in 2016 to N9.87 in the first seven months of 2017.

A further analysis of the report showed that the service generated more money from taxing the non-oil sector compared to the oil and gas sector.

The report showed that non-oil tax revenue contribution was at 65.9 per cent while oil and gas contribution to revenue for the year was at 34 per cent so far.

According to the report, tax improvements recorded so far was due to the latest steps by the service to increase tax collection.

“FIRS have adopted e-services as a medium to achieve innovation, convenience and transparency of its operations to ensure that every effort is made to improve efficiency in collections and tax administrations.

“A 45-day window from October 5 to November 2017 was given to tax payers with tax liabilities to come forward and pay 25 per cent of the agreed tax liability, spreading the balance liability while waiving penalty and interest.

“FIRS in collaboration with Corporate Affairs Commission (CAC), Central Bank of Nigeria (CBN) and Nigeria Customs Service (NCS) undertook a massive Nationwide registration exercise of new taxpayers in 2016.

“We are also carrying out a sector-by-sector tax audit, which have increased compliance across all tax types and taxpayers categories. Over N8 billion have been recovered through this.

“Also, the Voluntary Assets and Income Declaration Scheme (VAIDS) encourage voluntary disclosure of previously undisclosed assets and income for the purpose of payment of all outstanding tax liabilities to boost revenue collection.

“All this will help improve the low tax ratio from 6 per cent to 15 per cent by 2020 and curb the use of tax havens for illicit fund flow and tax avoidance,” it stated.

According to the report, the service was instrumental in the signing of a Bilateral Taxation Agreement on double taxation on income and capital gains.

Also, the service had signed the Organisation for Economic Co-operation and Development’s Multilateral Instrument, which aims to tackle issue of base erosion and profit shifting by multinational companies operating in the country.

The report showed there were currently a number of bills at the National Assembly that when passed would help to improve tax revenue.

Some of the bills include the Stamp Duties Act Bill, 2017 and the Value Added Tax Bill, 2015.

SOURCE: https://brandspurng.com/firs-generates-n2-11tn-in-seven-months/