Business
FIRS launches USSD code, handbook to simplify tax processes
The Federal Inland Revenue Service (FIRS) has launched an unstructured supplementary service data (USSD) code designed to simplify tax processes and “improve taxpayers’ satisfaction”.
The code, *829#, was unveiled on Wednesday by Zacch Adedeji, the FIRS chairman, at the revenue house in Abuja during the celebration of the 2024 customer service week.
Speaking at the launch, Adedeji said the initiative makes Nigeria the sixth African country to deploy USSD code to simplify tax payment processes.
He said taxpayers on any mobile telecommunication network in the country can now get real-time access to the FIRS on tax-related issues.
The taxman said the instant messaging protocol demonstrates the agency’s commitment to simplifying tax administration, ensuring that “all taxpayers—whether in bustling cities or remote areas can engage with FIRS seamlessly”.
He encouraged taxpayers to take full advantage of the benefits provided by the USSD for all their inquiries.
“With the *829# USSD code, taxpayers now have the power to: retrieve their taxpayer identification number (TIN), verify their tax clearance certificate (TCC), access information on tax types and rates, locate the nearest FIRS office, and get answers to general tax-related inquiries,” Adedeji said.
“Without the need for internet access, all of these services are now available with a simple mobile phone.
“This technological leap reflects our dedication to creating a tax system that is efficient, transparent, and responsive to the needs of taxpayers.”
‘CUSTOMER GUIDE WILL DRIVE OUR INTERACTIONS WITH TAXPAYERS’
Meanwhile, the FIRS also launched its customer-centric guide, a handbook detailing the agency’s policies, processes and procedures aimed at maintaining taxpayers’ status as “kings” in its service approach.
The guide reaffirms FIRS’s commitment to treating taxpayers as valued partners in nation-building, the agency said in a statement on Wednesday.
“This guide embodies our commitment to putting taxpayers at the centre of our service delivery,” the statement reads.
“It outlines the principles and values that will drive our interactions with taxpayers by ensuring that every engagement is defined by respect, professionalism, and efficiency.
“The guide serves as a reminder to us all that the taxpayer is not just a client, but a valued partner in nation-building.
“Through the combination of the *829# USSD code and the customer centricity guide, we are reinforcing a culture of service excellence and making tax compliance not just a duty but an experience that fosters trust and voluntary participation.
“As we celebrate this achievement, I encourage everyone to make full use of the *829# service and embrace the customer centricity guide. Your feedback will be crucial as we continue to enhance these services and meet the evolving needs of our taxpayers.”
On his part, Nnenna Akajemeli, national coordinator of Servicom, praised the FIRS for its continuous efforts to enhance taxpayer satisfaction.
She commended the introduction of the USSD code and the handbook, noting their role in simplifying tax processes and improving service quality.
Business
Nigerians eligible as Thailand rolls out e-visa application system
Nigerians visiting Thailand can now apply for visas electronically.
The Royal Thai embassy in Abuja set the applications’ start date at January 1 after announcing they were no longer accepting physical applications.
The policy also applies to citizens of Ghana, Cameroon, Benin Republic, Central African Republic, Congo, Equatorial Guinea, São Tomé and Príncipe, and Chad.
In a statement, the embassy said all applicants must be residing within the aforementioned countries when applying for the visa.
The embassy said it has the right to cancel the visa applications should the applicants fail to provide evidence of their presence within the aforementioned countries.
“Travel booking confirmation must be provided upon submission of your visa application. This includes return flight details showing applicant’s name, departure and return date, all flights en route from the aforementioned countries to Thailand,” the embassy said.
“Upon receiving your application, it takes within 5 working days to get your visa.”
The embassy said the processing time can take longer in certain cases.
Intending travellers were advised to apply for a visa at least 4-6 weeks before the departure date but not more than three months before.
All applications must be completed online via www.thaievisa.go.th
Business
Eko DisCo to sell majority stake to North-South Power-led consortium
West Power and Gas Limited (WPG), the parent company of Eko Electricity Distribution Company (EKEDC), is close to selling its entire stake in the electricity company.
According to a recent report by Nairametrics, sources with direct knowledge of the transaction said a consortium that won the bid has paid the minimum 10 percent commitment fee.
The consortium comprises North-South Power (NSP), owners of Shiroro Dam; Stanbic Infrastructure Fund, and Axxela, a oil and gas company.
According to the sources, the consortium won the bid to acquire a stake in Eko Disco following a competitive process that began in early 2024.
The parties are now in the conditions precedent phase, which requires a set of conditions to be met before the agreement can be finalised.
A source familiar with the transaction told the publication that NSP benefits from the acquisition because it gives the power generation company direct control and insight into the DisCo’s operations, allowing it to access cash flow.
The recent shift to bilateral contracts between distribution and generation companies, according to another source, offers power generation companies additional incentives to purchase DisCos.
Citing examples, the publication said Transcorp Power, the owners of Ughelli Power Plant, holds a significant stake in Abuja DisCo, while Sahara Power, the owners of Egbin Power Plant, owns a majority stake in Ikeja Electric.
The report added that the deal is expected to close early in 2025, with a transaction size that could exceed $200 million while the final purchase consideration will be determined upon completion of the conditions precedent.
Business
Top 5 youngest billionaires in Africa
Africa is home to some billionaires who have done very well in areas like technology, manufacturing, and real estate. Most of Africa’s wealthiest people are older, but a few younger people have made their mark with outstanding achievements.
According to Forbes’ annual billionaire rankings, here are five of the youngest billionaires in Africa, with the youngest being in his 40s.
Tope Awotona (43 Years) – $1.4 Billion
Tope Awotona, from Nigeria, is the founder of Calendly, a scheduling software company valued at $3 billion. His net worth is $1.4 billion, making him one of the wealthiest Black billionaires in the world.
Awotona grew up in Lagos, Nigeria, but moved to Atlanta, Georgia, after a tragic incident where his father was killed during a carjacking. This loss motivated him to work hard and follow his entrepreneurial dreams.
After earning a degree in business, Awotona worked for companies like IBM before using his savings to launch Calendly in 2013. Today, Calendly has over 10 million users worldwide, helping businesses organise their schedules more efficiently. His story is one of resilience and determination.
Mohammed Dewji (49 Years) – $1.8 Billion
Mohammed Dewji is a Tanzanian businessman and owner of MeTL Group, Tanzania’s largest domestic company. MeTL operates in 11 African countries, working in industries like manufacturing, trade, and finance. The company is valued at over $1.5 billion.
Dewji took over the business from his father and turned it into one of Africa’s most successful enterprises.
He is also a philanthropist, supporting healthcare, education, and community projects in Tanzania.
Patrice Motsepe (62 Years) – $2.7 Billion
Patrice Motsepe is a South African billionaire and the founder of African Rainbow Minerals, a company involved in mining gold, platinum, and other metals. His net worth is $2.7 billion.
Motsepe is also the owner of the Mamelodi Sundowns Football Club and holds shares in Sanlam, a financial services company. He became the first Black African billionaire to appear on Forbes’ list in 2008. Through his foundation, Motsepe supports education, healthcare, and job creation in South Africa.
Strive Masiyiwa (63 Years) – $1.8 Billion
Strive Masiyiwa, from Zimbabwe, is the founder of Econet Wireless, a telecom company operating in Africa and beyond. He also owns shares in Liquid Telecom, which provides internet services across the continent.
Masiyiwa’s ventures include renewable energy, finance, and media, contributing to his $1.8 billion net worth. In 1996, he and his family started the Higher Life Foundation, which helps provide education to African children. His dedication to improving lives and his success in business make him an inspiration.
Yasseen Mansour (63 Years) – $1.2 Billion
Yasseen Mansour is an Egyptian billionaire with a stake in the Mansour Group, a company founded by his father in 1952. The Mansour Group is a major distributor of GM automobiles and Caterpillar machinery in Egypt and other countries. Mansour is also the chairman of Palm Hills Developments, one of Egypt’s largest real estate companies.
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