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FG Vows To Recover Unpaid Royalties, Taxes From Miners

The Federal Government says it is poised to recover “several trillions of naira” unpaid royalties/ taxes from licensed miners.

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The Federal Government says it is poised to recover “several trillions of naira” unpaid royalties/ taxes from licensed miners.

The government also vowed to block all areas through which it loses revenue in the mining sector.

The measures to actualise these include the engagement of consultants and collaboration with the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC).

Solid Minerals Development Minister Dele Alake made this known when RMAFC Chairman Mohammed Bello visited his office in Abuja.

Alake added in a statement yesterday by his Special Assistant media to the Minister, Segun Tomori, that the government would “sanitise the mining environment and automate the whole gamut of the revenue collection processes.”

The statement partly reads: “The Federal Government, through the Ministry of Solid Minerals Development and the Revenue Mobilisation Allocation and Fiscal Commission ( RMAFC), have resolved to strengthen collaboration to block revenue leakages in the mining sector.

“Dr. Alake revealed that the Federal Government has put in place measures like engaging consultants to block leakages and recover funds owed by licensed operators, which he put at several trillions of naira.

“From our efforts, so far, we have discovered to our chagrin that we are owed trillions of naira in unpaid royalties and taxes by legalised operators. “We are committed to recovering these funds and are also in the process of engaging internationally certified auditors to look at the system and automate the whole gamut of the revenue collection processes.

“Alake restated the resolve of the government to sanitise the mining environment, ensure it contributes substantially to the nation’s revenue, and ultimately make the sector rival oil in contribution to Nigeria’s GDP(Gross Domestic Product).

“We are ready to collaborate with you, states, and host communities to maximise the potential of the mining sector for the benefit of all Nigerians. “Our focus is to ensure that the industry translates to greater good for the greatest number of our people. “

“The minister commended efforts of the commission to boost revenue accruing to government coffers through mining operations.

“The RMAFC chairman in his remarks, stated that the commission’s visit is hinged on ways to provide support for the efforts of the minister to transform the mining sector and also extract commitment that the commission will get his cooperation to carry out its statutory monitoring activities.

“The commission was instrumental to getting the 10 percent monthly payment from the Natural Resources Development Fund to the Solid Minerals Development Fund (SMDF), and we know we can do much more together under your guidance and leadership to sanitise the sector, plug all loopholes and ensure the mining industry becomes a big chunk of our nation’s Gross Domestic Product (GDP).

“In his submission, the commission’s chairman of the solid minerals committee and commissioner representing Zamfara state, Abubakar Sadiq, lauded the minister for his reforms and leadership that has given visibility to the mining sector, stressing the need for improved collaboration with the RMAFC to address the shortfall in revenue remittance by mining operators.

“Our evaluation of mining operations across the country has shown a shortfall in revenue to the government. There is a monitoring gap. The government and RMAFC should strengthen collaboration to seal this gap and plug leakages in the system. “

“We are also making a case for proper supervision and documentation of minerals exported through our borders whilst also urging that the environmental impact of mining operations should be looked into and minimised.”

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Polaris Bank Inducted Premium Member of Nigeria-British Chamber of Commerce

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Polaris Bank has been inducted a premium member of the prestigious Nigeria-British Chamber of Commerce (NBCC), marking another milestone in the Bank’s journey towards enhancing profitable trade between businesses in Nigeria and promoting global commercial partnerships with businesses in United Kingdom.

The induction ceremony which took place recently in Lagos with few other enterprises has swelled current membership of the Chamber representing a broad sectoral spectrum of top players operating in the banking; consulting; education, energy, pharmaceuticals, oil & Gas, Trading, health, manufacturing companies, among many others.

The Managing Director/CEO of Polaris Bank, Kayode Lawal speaking at the induction expressed gratitude to the Chamber for the recognition and highlighted Polaris Bank’s commitment to “leveraging this platform to drive sustainable economic development and deeper engagement with stakeholders.”

“Distinguished guests, members of the Nigeria-British Chamber of Commerce, and esteemed colleagues, it is truly an honour to accept this induction, on behalf of Polaris Bank. Being part of this esteemed Chamber is a significant milestone for us, as it aligns with our vision to build stronger partnerships and contribute meaningfully to the growth of trade and investment between businesses in Nigeria and the UK.”

He further added that Polaris Bank is committed to using its membership of the NBCC to exchange innovative ideas and provide long-term and mutually beneficial relationships that promote growth of businesses in Nigeria and beyond.

“We are available for business and ready to work with stakeholders to ensure impactful and a win-win collaboration,” Mr. Lawal reiterated.

The Nigeria-British Chamber of Commerce continues to play a critical role in promoting trade relations and investment between Nigeria and the UK, and Polaris Bank’s induction reflects the Bank’s strategic focus on contributing to these bilateral efforts.

Polaris Bank was adjudged Nigeria’s Digital Bank of the Year in 2023, 2022 and 2021 and MSME Bank of the Year 2022 and 2023 in Business Day’s Banks and Other Financial Institutions (BAFI)
Awards.

Photo caption:
From right: Mr. Kayode Lawal, Managing Director/CEO of Polaris Bank, receiving on behalf of the bank, Premium Membership Certificate into Nigerian-British Chamber of Commerce (NBCC) from Mr. Kayode Falowo, NBCC’s Ex-President/Chairman, Greenwich Merchant Bank in Lagos recently.

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Seven Day Curfew Declared Over Monarch Owa Obokun’s Death

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A seven-day curfew has been imposed in six local government areas of Osun State following the death of Oba Adekunle Gabriel Aromolaran, the Owa Obokun of Ijesa land.

The 87-year-old monarch passed away on Wednesday evening after a brief illness, ending his 42-year reign.

The affected local government areas, which constitute Ijesa land are Ilesa East, Ilesa West, Atakunmosa East, Atakunmosa West, Ori-Ade, and Obokun.

The Ogboni of Ipole-Ijesa, Oba Oyebade Samson Kehinde Oyeleye, speaking on behalf of the Owa-in-Council and kingmakers, announced that the curfew will run from 10 pm to 6 am daily, effective Thursday

Additionally, all markets in the affected areas will be closed for three days.

Governor Ademola Adeleke, through his spokesperson Olawale Rasheed, expressed his condolences over the monarch’s death.

He described the late Oba as “a father figure, a pillar of support, and a teacher” committed to the development of Ijesa land and Osun State.

Adeleke added, “Kabiyesi was a deeply selfless father, who took no prisoners when it came to matters of development and wellbeing of the people. He was a friend of good governance, no matter the colour or race.

“The last time I was with him was the flag off of the dualisation of Brewery – Palace road. I am glad our late erudite scholar witnessed a new phase of development for Ijeshaland.”

Former Governor Adegboyega Oyetola, now Minister of Marine and Blue Economy, praised the late monarch’s contributions to the state and nation.

“Kabiesi was known for brilliance, bravery and bluntness as these virtues, exhibited throughout his reign, culminated to many successes recorded not only in Ijesaland but in the state and the country as a whole.

“No doubt, the departed Aromolaran was an epitome of culture, character, integrity and dignity. Being the symbol of Ijesas, he spent all his entire life to serve God and humanity. His over 42 years reign indeed witnessed a myriad of developments cutting across different aspects of life,” said Oyetola.

Prince Dotun Babayemi, a leader of the All Progressives Congress (APC) in Osun West Senatorial District, described the monarch’s passing as a big loss.

“Late Oba Gabriel Adekunle Aromolaran was a highly principled traditional ruler whose body of knowledge and reign, will never be forgotten in our history.

“He occupied his space robustly and contributed immensely to the growth and development of our dear state, Osun and beyond,” stated Babayemi.

Governor Ademola AdelekeOba Adekunle Gabriel Aromolaran IIOba Oyebade Samson Kehinde Oyeleye

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Adekunle Aromolaran, Owa-Obokun Of Ijesaland Dies At 86

“A monumental history closes! The lion departs the forest! The torch bearer Of Oduduwa relocates! The symbol Of Obokun Adimula transits!,”

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The Owa Obokun of Ijesaland, Oba Gabriel Adekunle Aromolaran, has reportedly passed away at the age of 86. A palace source who craved anonymity died on Wednesday after a brief illness.

Though the Owa Obokun palace has not issued any official statement with regard to the monarch’s passing, sources within the palace confirmed the death of the popular monarch.

The source said, “Baba has passed, but we are waiting for an official announcement from the palace.

“You can see that they have started performing some traditional rites. This has to be done before any announcement can be made,” she added.

He was the 48th king of the ancient city, and succeeded Oba Peter Adeniran Olatunji Agunlejika who died in 1981.

Aromolaran ascended the throne on February 20, 1982. His reign spanned 42 years.

On Thursday, Yinka Fasuyi, Asiwaju of Ijesaland, announced the king’s passing after rumours of his ill health began circulating on social media.

In a tribute, Fasuyi extolled the reign of the king, describing him as the “pride of Yoruba traditional intellectualism.”

“A monumental history closes! The lion departs the forest! The torch bearer Of Oduduwa relocates! The symbol Of Obokun Adimula transits!,” the tribute reads.

“The elegance Of Ijesaland royalty takes a bow! The pride Of Yoruba traditional intellectualism exits! The conscience Of Yoruba traditional rulers departs!

“The Last Of the titans bids farewell! Ijesaland celebrates the life Of her idol! Ijesaland extolls the life Of our imperial majesty! Ijesaland eulogises the reign Of ur Owa Obokun Adimula! Ijesaland applauds the legacy Of our paramount ruler! 42 Years Of monumental reign comes to a glorious end!”

Former Vice President Atiku Abubakar has condoled with the people of Ijesa over the death of the king.

In a statement shared on his X page, Atiku described the late king as “a great monarch who personified boldness, courage, and discipline of the Ijesha progeny.”

“With a heavy heart, I received the news of the passing of the Owa Obokun of Ijesha land, Oba Gabriel Adekunle Aromolaran. The late Owa was more than a father-in-law to me. Each time I visited him, he accorded me the homecoming welcome of a son,” he wrote.

“We all loved him dearly. He was a great monarch and personified the boldness, courage, and discipline of the Ijesha progeny.

“On behalf of my wife, Titi, I share my condolences with the Owa-in-Council and the entire indigenes and residents of Ijesha land, especially members of the royal family.

“As Oba Aromolaran turns his face to his Maker, I pray that his soul finds a gentle repose.”

Aromolaran was born in October 13, 1937 into the royal household of Oba Iluyomade Aromolaran I.

He started his primary school education at Otapete Methodist school, Ilesa and finally completed his primary education at the Agbeni Methodist school Oke Ado Ibadan.

Aromolaran attended Ilesa Grammar School, between 1970 and 1974 before attending the then University College Ibadan (UCI) which was then a College of the University of London (now the University of Ibadan) where he obtained the B.Sc. degree in economics.

In 1965, he did a post-graduate diploma in public administration of the University of Ife, then located at Ibadan, and also holds a master’s degree in mathematical economics.

He earned his PhD in development economics under the supervision of Prof Samson Olajuwon Kokumo Olayide, a former vice-chancellor of the University of Ibadan.

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