The Arewa Oil and Gas Marketers Association of Nigeria has issued a resounding call to all its members, urging them to promptly file their annual returns with the Corporate Affairs Commission (CAC).

Speaking at a press conference, the Chairman, Bashir Ahmad Danmalam, emphasized the significance of adhering to the CAC’s regulations to ensure the active status of their businesses.

Failure to comply with the annual returns filing, as directed by the CAC, may result in the mistaken impression that a business is inactive.

Consequently, the CAC can change the status of a company or business to “inactive,” leading to potential repercussions, including possible delisting.

Danmalam urged all registered entities, spanning from business names to companies and incorporated trustees to meticulously adhere to the CAC’s instructions.

He reiterated that annual returns must be filed irrespective of whether the business is actively operating.

In line with the CAC’s guidelines, entities will be required to pay a fixed statutory fee, the amount of which varies based on the type of business structure. Moreover, entities must avoid late filing to prevent incurring a penalty fee of 5000 Naira.

It is essential to clarify that annual returns are not taxes but rather submissions that are filed exclusively with the Corporate Affairs Commission.

Timely filing of these returns guarantees that businesses and organizations maintain their active status, safeguarding their standing within the CAC’s database.

Transport Claims:IPMAN Threatens Legal Action

The Arewa Oil and Gas Marketers Association takes this matter seriously, recognizing the importance of compliance with the CAC’s regulations to maintain the active status of their businesses.

Danmalam’s call comes as a timely reminder for all members to fulfill their obligations promptly, ensuring the seamless continuation of their operations and legal standing in the Nigerian market.

The deadline for filing annual returns looms, prompting oil and gas marketers in the Arewa region to take immediate action to meet the CAC’s requirements and safeguard their business activities

In a bid to provide clean, safe, and affordable drinking water, Korbit, a leading water company, has launched its new Korbit Dispenser Bottle with an automatic electric water pump.

The chairman of the company, Alhaji Garba Ahmed Ibrahim, made the announcement, highlighting the convenience and accessibility of this innovative product.

The Korbit Dispenser Bottle offers a rechargeable automatic electric water pump, ensuring hassle-free dispensing of water.

With this product, customers can enjoy the benefits of clean drinking water at their convenience.

The company has made it easy for customers to obtain the Korbit Dispenser Bottle by making it available at their depots and major supermarkets across the country, including Sahad Store, Best Medix, Sadaraki, DanAljanna, Jujin Labbu, and more.

To make a purchase, customers can either visit these locations or contact the company directly through the provided phone numbers: 08123172526, 08166665444, or 08096233122.

Korbit takes pride in its commitment to quality and safety. The company utilizes the latest modern technology to ensure that their water undergoes rigorous purification processes, including reverse osmosis, resulting in a hygienic and pure final product.

Korbit water is known for its soft and smooth texture, combined with well-balanced mineral content, providing customers with a refreshing and satisfying drinking experience.

One of the key advantages of choosing Korbit Table Water is its ability to maintain the integrity of flavors in food and beverages. When preparing special diets or enjoying a cup of tea, the purity of Korbit Table Water ensures that there are no unwanted impurities that could compromise the taste. With every sip, customers can taste the exceptional quality and purity that sets Korbit water apart.

In a world where access to clean water is crucial, Korbit is dedicated to delivering a reliable and affordable solution. The launch of the Korbit Dispenser Bottle with Automatic Electric Pump reaffirms the company’s commitment to providing clean and safe drinking water for all.

Management of the pan-African cement manufacturer, Dangote Cement Plc has revealed that once the shareholders at the AGM slated for April 13, 2023, approve the proposal, the shareholders whose names are registered in the Company’s Register of Members at the close of business on 30 March 2023 will be immediately paid the sum of about N340 billion a day after the meeting.

In the notice of AGM, published in the Newspapers and signed by Dangote Cement’s Acting Company Secretary, Edward Imoedemhe, the company revealed that a list of unclaimed dividends is available on the Company’s website at www.dangotecement.com and that Shareholders with unclaimed share certificates or unclaimed dividends should address their claims to the Registrars, Coronation Registrars Ltd, at info@coronationregistrars.com

The company also stated that it is giving notice to all shareholders to open bank accounts, stockbroking accounts and CSCS accounts for receiving dividend payments electronically and also that pursuant to the provision of Section 187 of CAMA 2020, the treasury shares are not entitled to dividend and voting rights.

Dangote Speaks On President Buhari’s Visit To Lagos, Refinery Commissioning
The Cement company disclosed in the published Notice that, its ordinary business for the day will include: laying the Audited Financial Statements for the Year Ended 31 December 2022 together with the Reports of the Directors, Auditors and the Audit Committee thereon; declare a dividend; elect/re-elect Directors; authorise the Directors to fix the remuneration of the Auditors for the 2023 financial year; disclose the remuneration of Managers of the Company and also elect shareholders’ representatives of the Statutory Audit Committee. The AGM will also consider and if thought fit,  fix the remuneration of the Directors.

In the financial statements of the organisation for 2022, the gross earnings for the Group increased to N1.6 trillion from the N1.4 trillion recorded in the preceding year due to the higher revenue generated from cement and clinker sales, with a significant chunk coming from the domestic market. The company’s revenue also increased by 21 per cent to N1,205 billion as against N993 billion recorded for the preceding year.

While the group’s earnings per share increased by 5 per cent to N22.27 billion as against the preceding year’s N22.42 billion, the company’s earnings per share increased by 6 per cent to N23.87 billion as against N22.42 recorded for the preceding year.