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Lagos state government introduces annual levy for vehicle’s proof of ownership certificate

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1 year ago

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The Lagos state government says it will commence the implementation of the levy for annual proof of ownership (PoC) certificate for vehicles in the month of July.

Abdulhafiz Toriola, the permanent secretary of the ministry of transportation, announced the development at a news conference on Tuesday.

Toriola said the Joint Tax Board (JTB), on May 9, approved the resolution that proof of ownership is issued to motorists on an annual basis nationwide.

The permanent secretary said the initiative aims to streamline and enhance the process of vehicle ownership verification.

He disclosed that Babajide Sanwo-Olu, governor of Lagos, has approved the commencement of the levy in the state.

“The initiative is in accordance with the national road traffic regulation 2012 as amended, No. 101, Vol. 99; Section 73 (1) which states that there shall be proof of ownership certificate for all registered vehicles,” he said.

“Section 73 adds that the commission shall establish and maintain a central database for vehicles and drivers for the federation.

“To this end, the federal government has introduced the issuance of an annual proof of ownership certificate for all registered vehicles.

“This certificate will serve as official documentation of a vehicle’s legal owner, upon successful completion of the necessary requirements and procedures.”

Also speaking at the press conference, Babatunde Farinloye, Lagos sector commander of the Federal Road Safety Corps (FRSC), said the agency was empowered by law to implement government policies.

Farinloye said that it was incumbent on the FRSC to enforce, regulate and coordinate road safety transport management.

Olabisi Olowolagba, the representative of the motor vehicle administration agency (MVAA), said the body is excited about the introduction of the PoC.

She said the certificate will enhance security and the agency would ensure that it is successful.

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Nigeria’s GDP rate grew by 3.46% in Q3 2024, says NBS

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4 hours ago

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November 25, 2024 1:29 pm

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The National Bureau of Statistics (NBS) says Nigeria’s annual gross domestic product (GDP) grew by 3.46 percent in the third quarter (Q3) of 2024.

The NBS, in its GDP report published on Monday, said the growth rate is higher than the 3.19 percent recorded in Q2 2024.

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Business

Dangote refinery reduces ex-depot price of petrol to N970 for oil marketers

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7 hours ago

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November 25, 2024 11:01 am

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The Dangote Petroleum Refinery has announced a reduction in its ex-depot price of premium motor spirit (PMS), also known as petrol, to N970 per litre for oil marketers.

This is a cut from the refinery’s N990 ex-depot price announced earlier this month, according to a statement on Sunday.

The slash would help marketers save about N20 on each litre of petrol bought from the Lekki-based plant.

Anthony Chiejina, Dangote Group’s chief branding and communications officer, said the move is the refinery’s way of appreciating Nigerians “for their unwavering support in making the refinery a dream come true”.

“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement reads.

“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.

“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”

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Business

Allegation of missing fund untrue, says Access Bank

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8 hours ago

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November 25, 2024 9:16 am

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Access Bank Limited has dismissed as untrue allegations of missing fund and unethical behaviour.

The Bank in a statement said: “Our attention has been drawn to a video on social media wherein allegations of missing funds and unethical behaviour have been made against Access Bank PLC.

“First and foremost, we wish to emphasise that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any unethical behaviour.

“In the instant case, the allegations of missing funds in the Bank are most untrue and baseless.

“There is no N500million or any other fund or amount missing from the subject customer’s account or from any other customer’s account with us.

“We and other independent stakeholders in the banking industry have thoroughly investigated these allegations and independently arrived at the same conclusions.

“Access Bank PLC operates with the highest ethical standards, and we protect our customers’ interests whilst also respecting privacy laws.

“Consequently, whilst we have engaged and will continue to engage with our customers, we must advise the public not to rely on or believe sensational and unverified claims that are designed to titillate and mislead the public.

“We remain committed to serving our customers.”

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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