Yemmymo:


You were supposed to carry out transactions on the account within the duration you want to use it for. I am not sure if it make sense to submit 28 days SOA with just 2 transactions on it. You can continue running it while trying to do transactions for another 28 days starting today or for another 2 weeks.

moshuur:

pls...u guys should not create unnecessary panic...abeg.
u were talking like if person no carry out transaction on d account, na wahala.
me wey no carry out any transactions on my account is now having high BP

Onuohapeterson2:


My BP is pulsating in a way I don't understand right now because of @Yemmymo response

duchess90:
Hello

At the bolded,is correct

I am not a lawyer,but I do know that business name owners do not have a sole legal entity so the tax is paid by the owner. In this case it will be you

So yes, as a business name owner it will be you filing your tax on behalf of your company called individual or personal income tax

See screenshot

Cheers

Tunneller:
Hello @duchess90 and all experienced hands

Due to this rate issues, I just opened a Dom account and sold the naira in my POF to dollars (black market) which I then deposited into the Dom account (Opened with a different bank tho)

Now, the only transaction in this new Dom account is the $ cash deposit and I don't really think I would have any reason to do any transaction on it... I hardly buy foreign stuffs. Would this be an issue? That's no transaction on the account by the time the statement is matured. Thanks

awesinic:
Greetings everyone!

Hi @ Duchess90

please clarify this as regards consent letter.

I am the MA, applying along with my wife and Baby as my Dependants.

I have my POF running in my personal acct, do i need to submit a consent letter for their behalf prior to the POF?

Dy12345:
Good evening everyone, When giving my spouse a consent letter to use the funds in my account as POF, pls will I get the consent letter from the court Or I'd just draft it on my own, print & sign?

Marioboyz:
So is it compulsory to get a Tax clearance even if the business is registered and CAC document available ?

duchess90:
Hello

Your situation is very unclear

You may need to explain it better


Cheers

Nature129:
Is there anyone going to Leeds Beckett University this September or any other university in Leeds?

I want to make friends with fellow Nigerians when I get there.

omotem:
Thank you Duchess, I am New here. My situation is...
I (MA) had 25m for POF running for both of us in my account before sudden FX inflation, When that happened , the fund became insufficient because of the exchange, so I had 8m in my Husband account and we started counting again, making it a total of 33m. to be on a safer side incase the unexpected happen again. So currently the 25m is sufficient for me alone while that in my husbands account will be enough for him as my dependant and he will still have 2m excess after deducting his living cost. we will be submitting our application next week.

1) As at the time of submitting our application, if the amount in my account and his are still sufficient for us individually , do we still need to include a consent letter?

2) will there be any issue if he still have excess of 2m in his account , that is if the exchange rate has not consumed it.

3) if the exchange goes up and i need to balance my living cost from his account, will he need to write a consent letter.

4) Can we state that the rising and fluctuation in fx rate is the reason my balance is in his own account.

Thank you in advance.

Star721:
Please I need advice. My POF is maturing tomorrow. But I used 1000 as rate but the rate as at today is 1015. What can I do? I can't afford to start POF again. Please who is in this boat or who knows what I should do?

duchess90:
Hello

Strongly advice that

ECOs defer, some look at company registration and tax documents others stop at company registration

Besides,isn't it cheating the Nigerian Government when you own a business and don't pay tax??

Just saying

Cheers

moshuur:

abi ooo....pls gurus in d house/people wey don pass this stage already.
pls if pof is let's say 15 million ...and d account reads that same 15 million all through d days (let's say 29 days)..literally no/negligible transaction
shey it's good to go that way...yemolee wan kee person tonight..lol

Yemmymo:
Yes, start counting from 7th July when the whole 32M is showing on the opening balance of your account.

duchess90:
Hello

Where is their own POF?

In your account,then yes they need your consent letter

In your dependant's account,she won't need your consent letter but the baby will need hers ( sounds funny I know)

Cheers


Thank you! more wisdom to you!!

Star721:
Please I need advice. My POF is maturing tomorrow. But I used 1000 as rate but the rate as at today is 1015. What can I do? I can't afford to start POF again. Please who is in this boat or who knows what I should do?

Marioboyz:
So is it compulsory to get a Tax clearance even if the business is registered and CAC document available ?

can2na:
Not compulsory. But activate the company on tax pro max, even if you don't pay. Then Just ensure your company is active on CAC website.

Star721:
Please I need advice. My POF is maturing tomorrow. But I used 1000 as rate but the rate as at today is 1015. What can I do? I can't afford to start POF again. Please who is in this boat or who knows what I should do?