Business
Tony Elumelu Becomes Seplat Energy’s Non-Executive Director
Seplat Energy Plc has appointed Tony O. Elumelu, the renowned Nigerian businessman and chairman of Heirs Holdings and United Bank for Africa (UBA), as a Non-Executive Director on its board with effect from January 22, 2026.
The appointment comes shortly after Elumelu’s investment entities, Heirs Holdings Limited and Heirs Energies Limited, acquired a 20.07% stake in Seplat Energy from French oil company Maurel & Prom (M&P) in a December 2025 transaction valued at approximately $500 million.
The deal positioned Heirs as the company’s largest single shareholder.In a related board change, Seplat announced the resignation of Mr. Olivier Cleret De Langavant, who had represented M&P as a Non-Executive Director since January 2020.
Both the appointment and resignation were disclosed in a filing to the Nigerian Exchange Limited.
Elumelu brings deep expertise in energy, banking, power generation, and pan-African investments.
His entry to the board is widely seen as a strategic move to support Seplat’s long-term growth ambitions and further strengthen indigenous participation in Nigeria’s upstream oil and gas industry.
The leadership transition underscores Seplat Energy’s evolving ownership structure and its continued focus on operational excellence and value creation in Africa’s energy sector.
Business
Abia Govt seals Globacom offices for owing over N4bn debts
In the court order dated January 14, 2026, Globacom was directed to pay ₦4,048,748,880—covering unremitted Right of Way withholding taxes and other statutory taxes for the period 2010 to 2022.
The Abia State Government has sealed the Umuahia and Aba offices of telecommunications giant Globacom Limited over its alleged failure to remit more than ₦4 billion in taxes to the state.
The action was carried out by the Abia State Board of Internal Revenue Service (ABIRS) following a valid order from the High Court of Abia State, Umuahia Judicial Division.
In a statement, ABIRS Deputy Director of Information, Mrs. Emelle Akunna Loveth, said the enforcement followed Court Suit No. HU/225M/2025 between the Abia State Internal Revenue Service and Globacom Limited.
In the court order dated January 14, 2026, Globacom was directed to pay ₦4,048,748,880—covering unremitted Right of Way withholding taxes and other statutory taxes for the period 2010 to 2022.
The court also ordered the company to pay interest at 10 percent per annum on the outstanding amount from the date the taxes became due until full payment.
The court also granted a distraint order against Globacom’s goods, chattels, and premises within Abia State, authorizing ABIRS to enforce recovery and, if necessary, sell distrained properties after 14 days to recover the liabilities, in line with the Abia State Tax (Codification and Consolidation) Law, 2020.
Business
FG plans largest dairy, cattle ranches in Ogun — Abiodun
” Whenever investors express interest in Nigeria, President Tinubu often directs them to Ogun State. His leadership has rekindled hope among Nigerians at home and in the diaspora,” the governor said.
Photo: Governor Dapo Abiodun
OGUN State Governor, Dapo Abiodun said today: ” The Federal Government is siting the largest dairy and cattle ranches in Nigeria at Ipokia and Yewa South Local Government Areas, with an initial capacity of 5,000 herds of cattle.”
The governor made the announcement during the All Progressives Congress (APC) Strategic Stakeholders Meeting at the Cultural Centre, Kuto, Abeokuta, noting that the initiative is part of broader efforts to strengthen food security, boost local agricultural production, and deepen value chains across the state.
“The biggest dairy and cattle ranches will soon be established in Yewa South and Ipokia. This is at the instance of Mr. President. These farms will start with 5,000 herds of cattle, and work will begin very soon,” Abiodun said.
He commended President Bola Ahmed Tinubu for his economic reforms, highlighting their role in stabilising the foreign exchange market, eliminating multiple exchange-rate regimes, and boosting Nigeria’s foreign reserves to about $45 billion.
Abiodun also praised the President for consistent support towards Ogun State, including approvals for projects such as the Sagamu–Ijebu Ode Road reconstruction, funding of the Eba oil discovery, and resuscitation of OKLNG.
“Whenever investors express interest in Nigeria, President Tinubu often directs them to Ogun State. His leadership has rekindled hope among Nigerians at home and in the diaspora,” the governor said.
Business
12 states harmonise new tax reforms, says Oyedele
“Let us stop using consultants to collect taxes. It undermines our ability to do what is right. The new tax law says you cannot use consultants to do the routine work of the tax authority and its autonomy must be guaranteed.”
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, says that twelve states have so far adopted tax reform and harmonised the new acts with their laws.
Oyedele disclosed this during a presentation at the National Economic Council Conference in Abuja, yesterday.
Oyedele said that besides the 12 states, 13 states have the bills in their houses of assembly, while 11 states are in the final stages of presenting the bills.
He said it was important for the states to adopt and harmonise the new tax laws with their state tax laws to avoid multiple taxation.
He advised state governors to grant their internal revenue agencies autonomy.
“Let us stop using consultants to collect taxes. It undermines our ability to do what is right. The new tax law says you cannot use consultants to do the routine work of the tax authority and its autonomy must be guaranteed,” he said.
-
Politics3 days agoCSO Callout To INEC: “Release 2027 Elections Timetable Now”
-
Politics3 days agoFubara Pledges to be loyal and faithful after Tinubu brokers peace
-
Crime3 days agoCOAS Deploys Special Forces to Plateau to Crush Resurgent Banditry Attacks
-
News2 days agoSenate reconvenes today to resolve Electoral Act amendment outrage
-
Sports12 hours agoMexico invests in robotic dogs for 2026 World Cup
-
Politics2 days agoADC, PDP to boycott Kano by-elections
-
News1 day agoPlane Crash Averted as Arik Air Flight to Port Harcourt Diverts Safely After Engine Issue Mid-Air
-
News1 day agoFG orders NAFDAC to halt sachet alcohol ban enforcements
