Jack Ma, the co-founder of Chinas largest e-commerce firm Alibaba Group Holding Ltd, will step down as chairman in exactly one year on Sept. 10, 2019, the company said.

Current Alibaba Chief Executive Daniel Zhang will replace him as chairman, while Ma will complete his current term on Alibabas board of directors following the companys annual general meeting in 2020.

Ma, who turned 54 on Monday, relinquished the role of chief executive in 2013. Zhang, 46, has been in the job since 2015 after serving as chief operating officer and is known as a key architect of Alibabas Singles Day, the Nov. 11 event that has become the worlds largest online shopping event.

Under his stewardship, Alibaba has seen consistent and sustainable growth for 13 consecutive quarters Starting the process of passing the Alibaba torch to Daniel and his team is the right decision at the right time, Ma said in a letter released by the company.

Zhang will also retain the CEO title, the company said.

Ma, who co-founded Alibaba in 1999, is one of Chinas richest people with a net worth of $36.6 billion, according to Forbes. The company has grown to have more than 66,000 full-time employees and a market value of some $420 billion.

Ma said that after he steps down from his current roles he will continue to mentor management as part of the Alibaba Partnership, a 36-member group of core company managers.

The group has the ability to nominate the majority of directors on the companys board.

A former English teacher with no technical background, Ma has a large popular following in China and is seen as an icon of self-made wealth.

He is also known for his eccentric personality and has donned wigs and costumes to perform highly choreographed pop routines at company events. Last year he starred alongside Chinese action star Jet Li in a short kung fu film.

Since handing over the CEO role, Ma has concentrated on philanthropy and promoting Alibaba internationally at business and political events.

Last year Ma invested 300 million yuan ($45 million) in a rural education project in China. He has also established a scholarship program in Newcastle, Australia.

Ma, who also controls Alibaba payment affiliate Ant Financial [ANTFIN.UL], is stepping back amid more challenging times for Chinese tech companies as sales growth in Chinas eastern mega-cities shows signs of slowing.

Alibaba maintained robust revenue growth in the first half of 2018, but its profit margins have been squeezed by big-ticket investments as it battles to maintain pole position in payments and e-commerce

Source: NAN

The United States on Monday will adopt an aggressive posture against the International Criminal Court (ICC) in The Hague, threatening sanctions against its judges if they proceed with an investigation into alleged war crimes committed by Americans in Afghanistan.

President Donald Trumps national security adviser, John Bolton, is to make the announcement in a midday speech to the Federalist Society, a conservative group, in Washington. It will be his first major address since joining the Trump White House.

The United States will use any means necessary to protect our citizens and those of our allies from unjust prosecution by this illegitimate court, Bolton will say, according to a draft of his speech seen by Reuters.

Bolton will also say that the State Department will announce the closure of the Palestine Liberation Organization (PLO) office in Washington out of concern about Palestinian attempts to prompt an ICC investigation of Israel.

The PLO office in Washington did not immediately respond to a request for comment.

The United States will always stand with our friend and ally, Israel, says Boltons draft text.

The draft speech says the Trump administration will fight back if the International Criminal Court formally proceeds with opening an investigation into alleged war crimes committed by U.S. service members and intelligence professionals during the war in Afghanistan.

If such a probe proceeds, the Trump administration will consider banning judges and prosecutors from entering the United States, put sanctions on any funds they have in the U.S. financial system and prosecute them in the American court system.

We will not cooperate with the ICC. We will provide no assistance to the ICC. We will not join the ICC. We will let the ICC die on its own. After all, for all intents and purposes, the ICC is already dead to us, says Boltons draft text.

In addition, the United States may negotiate more binding, bilateral agreements to prohibit nations from surrendering Americans to the Hague court, says the text.

The courts aim is to bring to justice the perpetrators of war crimes, crimes against humanity and genocide.

The United States did not ratify the Rome treaty that established the International Criminal Court in 2002, with then-President George W. Bush opposed to the court. President Barack Obama took some steps to cooperate with the organization.

We will consider taking steps in the U.N. Security Council to constrain the courts sweeping powers, including to ensure that the ICC does not exercise jurisdiction over Americans and the nationals of our allies that have not ratified the Rome Statute, says Boltons draft text.

Source: NAN

The Peoples Democratic Party (PDP) in Akwa Ibom State has been hit with another defection as the partys leader in Ika Local Government Area, Dr Francis Udoikpong joined the All Progressives Congress.

Dr Udoikpong, a PDP state caucus member and former Commissioner for Health, defected with about 5,000 others, including Sir Godwin Idungafa, a former Ika local government vice chairman; Mr Harry Eduo, a former Ika local government secretary and councillor; and Uyo Udom, a lawyer and politician.

The defection of the PDP leader happened barely a month after Deputy Inspector-General of Police Udom Ekpoudom (rtd) and Obong Otu Robert Akpan, his counterparts in Etim Ekpo and Ini local governments, joined the APC with Senator Godswill Akpabio, former Senate Minority leader.

Dr Udoikpong, also a former chairman of Ika Local Government and past Chairman of the State Agency for the Control of AIDS (SACA) said they were leaving the PDP because the Udom Emmanuel Administration had neglected Ika, a boundary local government with Abia State.

He condemned inclusion of their names in Emmanuel campaign organisation without their consent, and demanded their names be removed.

Mr Ini Okopido, state chairman of APC, who received the defectors, noted that with their coming Ika is now APC.

Mr Okopido, himself an indigene of Ika, assured them of accommodation and equal rights as old members in the APC.

Gabriel Toby, member for Ika/Etim Ekpo State Constituency, who joined the APC recently, told the crowd that with major Ika political gladiators in one camp, APC would sweep the 2019 elections in the area.

Among APC chieftains that witnessed the defection were Sir Ernest Ukpong and Akanimo Edet, former House of Assembly members and Chief Edem Obot, the Adaha Ika.

Reported by The Nation

Source: NAN

No fewer than 3,000 residents have so far benefited from the Lagos State Governments Rent-To-Own schemes, according to the Commissioner for Housing, Mr Gbolahan Lawal.

Lawal said in an interview with the News Agency of Nigeria (NAN) that the states housing policies captured both those in the formal and informal sectors.

He said that the informal sector constituted about 65 per cent of the population of the state and that a mechanism had been put in place to determine their incomes and eligibility for the homes.

All our estates are for everybody irrespective of your status. We have special consideration for Lagosians and we have accommodation for all categories of people in Lagos.

My Christmas promise will be achieved for those prospective buyers who have applied for Gbagada, Igbogbo, Amuwo Odofin, Sangotedo Phase 1 houses. Celebrating Christmas in their new homes is feasible.

It is important to also use this medium to let Lagosians know that we are committed to completing all the projects we met on ground and we are also building new ones.

So far over 3,000 Lagosians are now beneficiaries of our Rent-to-Own Scheme, he said.

The commissioner said the housing deficit of about 2.5 million was huge, adding that the various sustainable efforts were underway including an affordable housing trust fund to be inaugurated soon.

He said that the initiative would be unveiled before the expiration of Gov. Akinwunmi Ambodes administration in May 2019 which would give cooperative societies ample opportunities to take part in housing finance.

Lawal disclosed that the ministry took over 27 housing estates at various stages of between 20 and 60 per cent completion from the last administration which needed more resources to complete.

He said Ambode administration also met a mortgage system on ground which had been reviewed downward because most applicants could not afford the 30 per cent down payment.

The state government introduced the Rent-To-Own scheme where beneficiaries are required to pay only five per cent of the cost of building as commitment fee while the balance is spread over a period of 10 years.

A recent study revealed that the housing deficit for Lagos is 2.5 million and the government also found out that it will take 187,500 housing units yearly for five years to bridge the gap.

The government of Lagos State alone cannot bridge the existing gap and so we decided to come up with Lagos State Affordable Public Housing and that is working with the private sector as a joint venture initiative.

Government contribution is land, then all the statutory charges, the permits, will also be part of the governments equity while the private sector will come up with the technical expertise, the finance and all that are geared towards the supply side. The Rent-to-Own is the demand side, he told NAN.

On the various estates, Lawal said the Igando Gardens which has 492 units was more than 90 per cent completed and that the sewage would be fixed before delivery.

Gbagada Estate is over 95 per cent completed while Igbogbo in Ikorodu which has 360 units is at 85 per cent completion. Amuwo Odofin Estate which has 84 units has been completed and will be handed over in few weeks to allottees.

Akerele Estate in Surulere has only two blocks and the beneficiaries are already moving into their houses.

Sangotedo Estate in Lekki has 1,118 units and is at an advanced stage of completion and Phase 1 is above 80 per cent completed; the water and sewage will be ready before the end of September, the commissioner said.

On the Egan/Igando Estate in Alimosho council area which was started by the Bola Tinubu administration, he said efforts were on to rehabilitate and complete the houses after successful integrity tests of the buildings, adding that a major road leading to the estate had been constructed.

Before May 2019, we should be able to hand over keys to the allottees.

Source: NAN

The Federal Inland Revenue Service (FIRS) has identified more than 6,772 billionaires’ tax defaulters whose bank accounts have been screened.

The tax agency would soon go after the bank accounts of defaulting taxpayers who are raking in billions in Nigeria and are not paying taxes.

Mr. Tunde Fowler, FIRS Chairman, said on Sunday in Lagos that all banks in the country would do substitution on accounts for such identified taxpayers.

“There are over 6,772 of such defaulting billionaire taxpayers that have been identified by the FIRS, leveraging on banks data,” Fowler said.

He noted that most of such taxpayers, who have between N1 billion and N5 billion in their accounts have no Taxpayer Identification Number, TIN, or have TIN and have not filed any tax returns as taxpayers.

“What we have done is what we call ‘’substitution‘’ which also is in our laws which empowers us to appoint the banks as collection agents for tax.

” So, all these ones of TIN and no pay and no TIN and no pay, to the total of 6772 will have their accounts frozen or put under substitution pending when they come forward.

” First, they refused to come forward in 2016, they refused to come forward under VAT and are still operating here.

” So, we are putting them under notice that it is their civic responsibility to pay tax and to file returns on these accounts,” Fowler said.

He explained that all businesses, partnerships, corporate accounts that have a minimum turnover of N1 billion per annum for the past three years were considered.

He said that the law stipulated that before you open a corporate account, part of the opening documentation is the tax I.D.

” From the 23 banks, we have analysed so far, we have 31,395 records, out of which effectively minus duplications we had 18,602.

“We broke those into three categories: Those that have TIN tax I.D, those that don’t have no TIN and of course no TIN no pay and those that have TIN and have not even paid anything.

“So, on a minimum, every company or business included here over the last three years have had a banking turnover of N3 billion and above.

Some of them have had banking turnover of over N5 billion and have not paid one kobo in taxes. Now the total number of TIN and no pay is 6772.” Fowler said.

He noted that FIRS is also paying closer attention to Audit.

” We have started a comprehensive Audit exercise that involves both national and regional Audits

”We got to a position where we found out that majority of the major organizations that were allowed to do self-assessment, do not truthfully declare or pay the taxes that were due.

”To date we have raised assessment of over N805 billion from 1324 national audits, out of which 499 (taxpayers) have N219 billion.

“N219 billion can do a lot of things. It can provide certainly a lot more infrastructure, healthcare and educational facilities.

”These monies that are supposed to go into the Federation Account are shared between Federal, Local and State governments.

”So, every state can get an additional 1 billion from such monies, hopefully if you vote right, that governor, that governor would deploy it to the right place,” Fowler said.

The tax chief warned his staff to be honest in dealing with tax payers.

He did not spare the FIRS either, even though it had made over N1 trillion over its 2017 collection between January to August by N1 trillion.

“If you look at 2018 revenue to date, between January and August, we have done N3.5 trillion, which is N1 trillion over 2017.

”But the main point I want to make is that majority of taxpayers that accounted for this revenue have not changed.

”The laws have not changed. And to a great extent, the consultants to these companies have not changed.

” If you look at 2017, there is an increase of close to N800 billion over the 2016 collection.

“The increase in 2018 so far showed N 1 trillion.

If the same consultants advised or reviewed the accounts of the majority of the taxpayers, one would wonder why such large increases occurred.

”It is either the taxpayers did not disclose fully their financials to the consultants or the consultants involved in tax planning.

”Either way, it is not good for to the wellbeing of our nation, Nigeria,” Fowler said.

He noted the perfidy of businesses who collect VAT and not remitting to government coffers.

“We have found out that a number of businesses , collect VAT that do not remit to government,

” So we are going back to the old school way were VAT certificate would be given to all tax payers and we expect them to display it in their places of business.

”We also found out the number of businesses were not even registered tax payers and were collecting VAT. Without having a tax, I.D.

”As an agent or a collector of VAT, there is no way you can remit that VAT to government. So, in short, they were collecting and adding it to their income and spending it,” Fowler said.

The FIRS Chairman noted that taxpayers can now enjoy the flexibility of choosing their tax offices and paying online.

“Prior to now, at times your tax office can be an hour away from your office, taxpayers can now choose where their files reside .

”You can pay anywhere in the world: London, Dubai, New York, pay your taxes online and download your receipt immediately,” he said.

Citing the example of taxes FIRS is levying on corporates which have property, but are now being assessed on the value of their property’s turnover, Fowler clarified on why such property owners were being assessed for tax.

“First of all, banking turnover does not mean that is the turnover of your business it simply means the money that has gone in and out of your account.

”But what the tax law says is that’’ if you do not file your returns and you are in constant default we use turnover as a basis of estimating your tax liability.

For example, if your turnover is N100 million we assume that 20% of that is profit and we tax that at 30%.

“Some of them claim not to own the property, those of them that claim not to own the property and of course were sent to government,

” The Presidency will decide what would happen to those properties that have no owners. To those that have owners and have not paid they would be prosecuted.

”We are also in the process of going to court to get the approval of the court orders to sell those properties.

” We are not only doing that in Abuja, we have also concluded in Lagos. We are currently doing it in Osun, Oyo, Kaduna and eventually we would cover the whole federation.

“The idea here is simple if you have had the opportunity to make your wealth in this economy, in this society, the least you can do is pay your tax.

“We have not included any group who by law are not meant to pay tax in this group.

”So far, we have sent out 2980 letters and we believe that before the end of September we would get most of them out,” he said. (NAN)

Outgoing governor Ayodele Fayose of Ekiti on Sunday allayed the concerns of governor-elect Kayode Fayemi, who feared he would inherit humongous debt nearing N117 billion.

With exactly 35 days to leave office, Fayose said his handover note was ready for the scrutiny for those making enquiries about his government.

The News Agency of Nigeria, (NAN) reports that the governor did not cooperate with the Transition Committee set up by Incoming-Governor, Dr. Kayode Fayemi.

Fayose snubbed the request by the committee, for certain records of his tenure.

He claimed the committeee is illegal.

Fayose, in a statement by his Special Assistant on Public Communications and New Media, Lere Olayinka, urged the Governor-Elect to stop spreading falsehood about him or the finances of his administration.

He described as mere fabrication, the claim that his government had accumulated a debt of N117 billion as against the N18 billion it inherited.

Fayemi was already preparing excuses for his impending failure at the tribunal, Fayose said.

Fayose insisted that the State Government under him has no obligation to relate with any committee not empowered by law, stating that the governor-elect should wait for the handing over note that will be handed to him on October 16.

He said it was funny that the same Transition Committee that claimed it did not get any information from the State government estimated the state debt at N117 billion.

He reiterated that his government only received N10 billion grant from the Excess Crude Account, which was released to all States for capital projects as well as Budget Support fund released to states by the Federal Government.

It is on record that Ekiti State Government was indebted to the tune of N86, 013,689,097 as at October 16, 2014 that Governor Fayose took over.

The debts are broken down as follows: Bank Loans; N15, 831,613,425.62, Bond; N26, 749,796,784.75, Outstanding Warrants; N15, 522,552,900.76, Outstanding to Road Contractors; N21, 286,126,749, Outstanding Remittances to FG; N709, 883,656.75, Outstanding Remittances (State Govt); N592, 995,374.89 and EKSG Public Servants Outstanding Emoluments; N5, 137,888,224.37, he said.

The governor counselled Fayemi to face the task of defending the mandate that he stole and his fraudulent emergence as the APC candidate instead of treading the usual path of deceiving the public to cover up his failure.

Source: NAN

The All Progressives Congress National Leader, Asiwaju Bola Tinubu, on Sunday called for support for the partys candidate in the Sept. 22 governorship election in Osun, Alhaji Gboyega Oyetola.

Tinubu said in Lagos that Oyetola wasthe best man for the job and the one to beat in the race.

He said he was backing the renowned insurance guru and corporate player to help replicate the economic and infrastructure development witnessed in Lagos State in Osun.

With the impeccable credentials, competence and the sterling performance of the outgoing Gov. Rauf Aregbesola, the APC flag bearer is the best man for the job and the one to beat in the race, he said in a statement by his Media Officer, Mr Tunde Rahman.

Tinubu described Oyetola as a technocrat, shrewd manager and administrator, recalling how he single-handedly founded and raised his own insurance company to a place of enviable status.

Ogbeni Aregbesola has laid the infrastructural foundation for the state; Oyetola with his experience and expertise in the corporate world will take Osun to the next level by raising its economic and investment profile, Tinubu said.

Source: NAN

By Moses Omorogieva

The Police Command in Lagos State has arrested a 60-year-old Ifa chief priestess and her two sons in connection with some kidnap cases in the state.

The spokesman for the command, CSP Chike Oti, made the development known in a statement in Lagos on Sunday.

Oti said that the suspects were arrested on Saturday at their home at No.15, Irepodun Street, Egan, Igando, a Lagos suburb.

He said that the woman was said to be a chief priestess and custodian of an Ifa shrine.

She was alleged to be aiding her sons, aged 26 and 32, who allegedly lure their victims with charms to their home.

Oti described the suspects as deadly bunch of kidnappers.

He said that they used the social media to lure their victims and put them in captivity until they paid ransoms for their release.

The trio met their waterloo when one Bridget Obazee came to the Divisional Police Officer (DPO) of Igando Police Station, CSP Taiwo Kasumu, on Sept. 7 and complained that her brother, Osahon, was missing.

The complainant told the DPO that the kidnappers were threatening to kill Osahon if they (family) failed to pay a N1.5 million ransom.

She added that they warned her not to involve the police, otherwise her brother would be killed.

Oti said that the DPO quickly contacted the Commissioner of Police, Mr Imohimi Edgal, who deployed men from the Intelligence Unit of the command to reinforce the DPOs team.

He said that the team immediately set out in search of the suspects.

The same day, at about 11a.m., through discreet investigation, the team arrested the woman and her sons, Akeem Bashiru and Ojo Solomon, he said.

He said that besides Osahon, the police also rescued two other victims in the home of the suspects, which doubled as their hideout.

He gave the names of the other victims as Adugbagbe Akindele of No.7 Peace Crescent Salolo, Meiran, Lagos and one Ekwegbalu Augustine, who was lured from Anambra with the promise for a job in an oil company.

Oti said, the victims have been held for weeks, pending the payment of ransom by their families.
He said that those rescued had been re-united with their relations.

He said that during interrogation, Solomon confessed that he lured the victims with the promise of getting them employment.

He further confessed that he lured some victims for a gay relationship and that their mother empowered him and his brother spiritually, Oti said.

He said that the mother used charms to intimidate and instil fear in victims.

He hailed residents of Lagos State for assisting the command with useful information and urged them not to relent.

Source: NAN

Nigerias Aruna Quadri on Sunday won the Mens Singles title at the 2018 ITTF African Championships in Mauritius, the first time in his career.

He beat veteran and three time champion, Egypts Ahmed Ali Saleh (11-7, 6-11, 13-11, 11-9, 11-1). The victory came one month after he won the 2018 ITTF Challenge Seamaster Nigeria Open in Lagos.

In Agadir two years ago, Aruna was the runner up.

Aruna in the semi-final in Mauritius had beaten compatriot Olajide Omotayo (11-9, 11-6, 11-5, 11-3), while Ahmed Ali Saleh who will celebrate his 39th birthday next month accounted for Nigerias 44 year-old Segun Toriola (8-11, 11-7, 9-11, 11-8, 11-3, 11-9).

I am so happy that I was able to win this title for the first time having come close in 2016.

My next target is the All African Games title because the likes of Segun Toriola and Omar Assar have won this and I am hoping that I can win this as well.

I must express my appreciation to the Mauritians for their support; their enormous support kept me going throughout the competition.

It is great again winning another title 28 days after winning the ITTF Challenge Seamaster Nigeria Open in Lagos. Aruna told reporters in his post-match reaction.

Arunas title will make it the ninth to be won by Nigerians in the Mens Singles events at the African Championships. Atanda Musa blazed the trail in 1985 in Alexandria, Egypt, when he beat fellow Nigerian Yomi Bankole .

Nigeria has not won the title since 2002 when Segun Toriola beat colleague Monday Merotohun in Bizerte, Tunisia.

Toriola followed up winning the Mens Singles title at the Commonwealth Games in Manchester, the first time table tennis was included in the multi-sport event.

Although Ahmed Ali Saleh lost to Aruna in Mauritius, he remains the most successful African singles player, making five finals and winning three.

He won in Addis Ababa in 2000, Brazzaville 2007 and Yaound 2010

Source: NAN

No fewer than 52 cattle have been killed by a train in Kasarami Jere axis in Chikkun Local Government Area in Kaduna State.

The Kaduna State Police Command on Sunday confirmed the accident.

The Commissioner, Malam Ahmad Abdulrahaman refuted reports that the cattle were killed by other means.

There is nothing like attack but purely a train accident, so nobody should panic, he told newsmen in Kaduna.

According to him, the cattle were crushed to death at about 11:45 this morning by a speeding train going to Abuja from Rigasa Railway Station.

He also explained that the 27 cattle that sustained injuries were slaughtered by the chief butcher of Kasarami village.

He said no human casualty was recorded.

When the information of the accident reached the command, I quickly mobilised our men to the scene to assess the situation.

He described the accident as pathetic. He said the herdsmen were moving to Funtua Local Government in Katsina State.

They innocently inquired on whether there were rail services on Sunday, but were misinformed that there was none.

I have summoned the traditional rulers of the area, youths and farmers on the need to continue to live in peace and to avoid crossing the rail track indiscriminately with farm produce and animals.

He added that a similar meeting will hold with officials of the railway corporation on how to avert such an accident in future. (NAN)

Source: NAN