Business News
Court threatens to sell Ecobank and Union Bank branches
@ecobank_nigeria and @UNIONBANK_NG risk losing all their branches in Akwa Ibom after they were shut down with operation placed on hold. The court ordered the closure of the banks’ branches, with an order to sell them within fourteen days.
Ecobank and Union Bank risk losing all their branches in Akwa Ibom after they were shut down with their operations placed on hold. The State High Court, Uyo Division ordered the closure of the banks’ branches, with an order to sell them within fourteen days.
Tax evasion: The decision made by the court was prompted by an application filed by Akwa Ibom State Internal Revenue Service (AKIRS) accusing both banks of tax evasion.
[READ ALSO: Fine: MTN wants tribunal to overule FIRS on tax deduction]
According to a report, a notice pasted outside the branches reveals that the banks “have not been remitting the actual tax-deductible from their employees’ salaries and other relevant taxes due to the state, hence, failed to comply with the provisions of relevant tax laws.”
Akwa Ibom State Internal Revenue Service closing one of Ecobank’s branch. (Photo Credit: Premium Times)
The court granted an ex parte order to recover the state revenue. Although the amount wasn’t disclosed, the debts were said to run into millions of naira. And to recover the debts, AKIRS has received a mandate to sell the branches if the banks don’t negotiate with it within the next 14 days.
“After 14 days of non-compliance, we have the mandate of the court to sell the property and recover the tax owed the state.”
Banks ignored dialogue: The tax agency said it tried to resolve the tax issue out of court but Ecobank and Union Bank neither honour invitations nor reply the letters sent to them. This provoked the Akwa Ibom’s tax agency to seek redress in court.
[READ ALSO: Taxes you need to be aware of if you are about to start a business]
Ecobank and Union Bank are, however, not the only organisations involved in the tax evasion according to the tax agency. It was revealed that billions of naira are stuck with over 200 companies trying to evade state taxes.
Why the crackdown? The Director, Enforcement and Recovery of the tax authority, Leo Umanah, reiterated AKIRS’ commitment to recover revenues owed to Akwa Ibom State in order to enable the government work and conclude state projects.
Corporate Press Releases
Transcorp Hotels launches Aura, an online marketplace for accommodation and experiences
Nigeria’s largest hospitality brand launches a new platform for booking vacation homes, holiday lets, and experiences.
Africa’s leading hospitality brand Transcorp Hotels Plc. has announced the launch of Aura, a new digital platform through which people can book accommodation, restaurants, and experiences.
The new brand, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.
“It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc., Dupe Olusola said.
“For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.
The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.
Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”
“To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.
Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.”
Working with thousands of partners across Nigeria and different cities in Africa, Transcorp Hotels Plc. is building the continent’s largest platform for people-driven hospitality. While travellers enjoy the right selections at the best prices on Aura, hosts can also earn a lot of money by receiving guests in their unoccupied homes and sharing the local culture with them.
For travellers who would rather stay in hotels, Aura also has a great selection of some of the best hotels in every city.
With the launch of Aura, Transcorp Hotels Plc. has further cemented its leadership in the hospitality industry and reinforced its commitment to innovation and superior guest experience across different demographics.
Guests and hosts can sign up at aura.transcorphotels.com to start booking or hosting. The service is currently available in Nigeria only, but the company said plans are already in place to expand to major cities in Africa.
Transcorp Hotels Plc is one of Africa’s leading hospitality companies, committed to redefining service standards across the continent while remaining truly and authentically African.
Aura by Transcorp
Aura is Africa’s best platform for connecting travellers with great accommodation, good food, and memorable experiences. The platform is also an avenue for people with unoccupied homes, hotels, restaurants, or different skill sets that may interest others can earn an income by becoming hosts.
Corporate Press Releases
DISCLAIMER: Ex-Cavendish MD distances self from alleged statement on OML 110
Alhaji Ibrahim Mai Deribe, a former MD of Cavendish Petroleum Limited, has dissociated himself from an alleged statement on OML 110.
