Business
Cadbury Nigeria PLC: Adeboye Retires as MD, Ogundipe Becomes Interim MD
Pending the formal announcement of Mrs. Adeboye’s successor, Mrs. Ogundipe will manage the day-to-day operations of the Company in her capacity as Interim Managing Director.
Cadbury Nigeria Plc, a subsidiary of Mondelez International, has appointed Mrs. Folake Ogundipe, the current Finance Director, as interim Managing Director.
The appointment followed Mrs. Oyeyimika Adeboye’s retirement as Managing Director, effective November 30, 2025, when she attained the company’s retirement age.
In a statement issued by company’s Head of Corporate Communications and Government Affairs, Dr. Frederick Mordi, Mrs. Adeboye joined the board of the company in November 2008, as Finance and Strategy Director, West Africa.
She was appointed Managing Director on April 1, 2019, becoming the first woman to be appointed to that role since the establishment of Cadbury Nigeria in 1965.
During her tenure, she steered the West Africa business through various phases of growth, transformation and macro-economic volatilities.
Her contributions have been instrumental in achieving substantial growth, positioning the company for continued, sustainable and profitable expansion.
She is known for her servant leadership, being a people-first leader who reliably delivers results for consumers and customers.
Her passion for people has been evident in her focus on talent development, mentorship, overall engagement and strengthening capability of talent across the West Africa business.
“Serving as the Managing Director of Cadbury Nigeria Plc has been an incredible privilege and a crowning chapter of my career,” said Adeboye.
“Over the past six years, I have had the honour of leading a remarkable team and contributing to the growth of a company that holds a special place in the hearts of many.”
Pending the formal announcement of Mrs. Adeboye’s successor, Mrs. Ogundipe will manage the day-to-day operations of the Company in her capacity as Interim Managing Director.
She joined the company in September 2025, subsequently being appointed to the Board as Finance Director.
She is recognised as a distinguished executive leader with extensive multi-decade experience in driving business transformation, delivering sustained shareholder value, and fostering high-performance cultures within the consumer goods sector.
Before she joined Cadbury Nigeria, Mrs Ogundipe held senior leadership positions across diverse sectors, including Executive Director, Finance at Unilever Nigeria Plc, CFO for PES Group (Energy Services Company), and Financial Controller at Nigerdock Nigeria Ltd.
Her sector experience spans FMCG, energy services, and management consulting, giving her a broad and strategic perspective on value creation across industries.
Business
NTA didn’t introduce VAT on charges collected by banks — NRS
The Nigeria Revenue Service (NRS) wishes to address and correct misleading narratives circulating in sections of the media suggesting that Value Added Tax (VAT) has been newly introduced on banking services, fees, commissions, or electronic money transfers.
Photo: NRS chairman, Zacch Adedeji
The Nigeria Revenue Service (NRS) has clarified that the Nigeria Tax Act (NTA) did not introduce VAT on banking charges, nor did it impose any new tax obligation on customers in this regard.
In a statement made available to newsmen and signed by Dare Adekanmbi, Special Adviser on Media to the NRS chairman, Zacch Adedeji, the service said the claims are incorrect.
According to the NRS, VAT has always applied to banking services and was not introduced by the Nigeria Tax Act.
The statement reads:
“The Nigeria Revenue Service (NRS) wishes to address and correct misleading narratives circulating in sections of the media suggesting that Value Added Tax (VAT) has been newly introduced on banking services, fees, commissions, or electronic money transfers.
This claim is categorically incorrect.
“VAT has always applied to fees, commissions, and charges for services rendered by banks and other financial institutions under Nigeria’s long-established VAT regime.”
Business
LIRS gives employers Jan 31 deadline for filing 2025 tax returns
The Executive Chairman of LIRS, Dr Ayodele Subair, who gave the directive on Thursday, reminded employers that the obligation to file annual returns is in line with the provisions of the Nigeria Tax Administration Act 2025.
The Lagos State Internal Revenue Service(LIRS) fixed statutory deadline of January 31, 2026, for all employers of labour in the state to file their annual tax returns for the 2025 financial year.
The Executive Chairman of LIRS, Dr Ayodele Subair, who gave the directive on Thursday, reminded employers that the obligation to file annual returns is in line with the provisions of the Nigeria Tax Administration Act 2025.
Subair explained that employers are required to file detailed returns on emoluments and compensation paid to their employees, as well as payments made to service providers, vendors, and consultants, and to ensure that all applicable taxes due for the 2025 year are fully remitted.
He emphasised that the filing of annual returns is a mandatory legal obligation and warned that failure to comply would attract statutory sanctions, including administrative penalties, as prescribed under the new tax law.
Business
Nigeria To Review Inflation Reporting First Time In 15 years
The agency said the expected spike in December inflation did not reflect actual price movements in the economy but was largely a statistical distortion caused by the rebasing of the Consumer Price Index.
Nigeria’s National Bureau of Statistics (NBS) has announced plans to revise its inflation reporting methodology.
This followed concerns that December’s year-on-year figure may be artificially inflated due to the impact of last year’s rebasing exercise.
The agency said the expected spike in December inflation did not reflect actual price movements in the economy but was largely a statistical distortion caused by the rebasing of the Consumer Price Index.
Reuters reported that the rebasing, the first in 15 years, adopted December 2024 as the index reference point.
Officials explained that the change is likely to exaggerate the year-on-year inflation figure for December without accurately capturing prevailing market trends.
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