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RisingRose is Customer-Centric -Linda

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Linda Austin-akuta, managing director, RisingRose Nigeria Limited
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Linda Austin-akuta is the managing director of RisingRose Nigeria Limited. Linda, a pious manager is a graduate of Lagos State University (LASU), obtaining Bachelor of Science in Political Science. Upon  completion of  her National Youth Service she joined UPS in 2002 as a Client Services Executive. She rose to the position of Accounts Executive after she gathered many awards. She spoke to peter ugwu on matters that need urgent attention by the government in a quest to open courier industry for national development.
 
RiseRose’s Mission
The mission is to provide the best possible delivery service to our customers by curbing the inconsistencies in mails and financial documents delivery system. RisingRose wants to ensure end to the mishandling of the investors’ documents. Sometimes, the documents are lost in transit.
Part of the processes of ensuring safety is by packaging the documents in accordance with international best practices.
We are committed to offering superior levels of service with the most flexible options available at shortest possible time. We have been doing this for the past three years and our clients can testify to our integrity and reliability.
We believe in high effective customer service. For instance, there are practitioners that wouldn’t know that during packaging if one misses the address labeling, one are creating room for confusion for those that pick the package.
 When the names and addresses are blurred or not conspicuously written the delivery may end up in a wrong hand or place. We believe in integrity and trust.
 
Assessment of Courier Industry
Since we started operations, we have discovered the need to deliver customers’ items on time.
For instance, our customers, most of whom we deliver dividends warrants, would want it delivered as scheduled.
If one fails to do that, it may end up in the hands of people that will mis-represent it.
That becomes a problem to the registrar. These documents are time sensitive.
Once we have this kind of job, we make sure we deliver; even if it implies stepping down other things. Moreover, all mails in our care are very important to us and must be treated very urgent.
 
Expansion Plans As e-Dividends Have Emerged
The conversion of annual reports, dividend certificates, et cetera to compact discs has already been taken care of, especially by the concerned authorities.
When the conversion started, it was   still given to us (couriers) to deliver, but the prices crashed. For instance, annual reports that cost N150.00 were reduced to N60 per CD. Even if one is given 100,000 copies to deliver, the revenue was not enough.
However, Nigeria Postal Service (NIPOST) intervened, because CDs are more fragile to handle. The process of packaging the CDs needs extra care; the packaging was different. 
So, it attracted extra charges. Presently, it cost N150.00 per CD to deliver.
 
Rising Rose Expectations
There are many expectations in the industry, like the regularization of the sector. Everybody is expectant that it will become a reality soon.
Meanwhile, in the interim, Courier Regulatory Department (CRD) of NIPOST has been doing what they could, within the limited resources at their disposal to quail some challenges in the industry.
Some people are of the opinion that they are not doing much. But, we believe that they are on the right track. 
For instance, one cannot establish a courier company without obtaining a licence; otherwise one is going against the law. The CRD will provide all necessary rules and regulations to guide in the obtaining of courier licence and operation.
The rules form the operational basis for courier companies. We have witnessed in the recent past that some firms were axed by CRD for their inability to play according to the rules. Nevertheless, we feel they can do better if they are made to operate as courier regulatory commission.
 
Kicks Against Yearly Renewal of Licence
With regards to the annual licences renewal, well, the ANCO EXCOS are working on it and I hope they will come out with something more favourable to all operators.
 
Caging Portfolio Courier Firms
I believe that CRD is always after those people. It also behooves on the media and industry players to fight the old trends by consistent campaign against that and alerting the regulators when we see any of them in operation.
In ANCO, we can identify our members. It is an illegality that must stop. These people are architects of the downfall of many practitioners, because they would approach unsuspecting customers, collect parcels to deliver and later dump such packages thereby bringing bad name to the courier industry.
Although, they are not magicians, but their operations affect the genuine companies; they are threats to our integrity as an industry.
It boils down to the call for a Commission to manage the affairs of this industry. Meanwhile, the new ANCO executives have sounded the gong; if you are not a member of NAICA or ANCO, you should not be in the industry.
That will help in fishing out the bad eggs. Both the Government, regulators, registrars, recognized practitioners and the customers must unite to cage them.
 
Unharnessed Potentials
There are many of them. When I was in UPS, we started the warehousing project. Before then, we knew nothing about it in the country.
It has been yielding revenue for the company. Warehousing is an area that courier companies should look into. A lot of people do not want to have warehouse due to safety requirements, so others can leverage on that opportunity.
The online retailers may require such services too. In the actual sense, the online shops ought to partner with courier firms in terms of warehousing and delivery of goods to customers. Even Bulk post should tighten their noose on them.
The potentials in the industry can better be harnessed when players play according to the rules in the industry. They will become templates that future investors will emulate.
Meanwhile, the sector can be equated with the oil and gas. If we get a Commission today, a lot of jobs will be created in the industry.
 
IT and Courier
What we are doing is not pleasure inclined. Emails are pleasure writings. What we deliver are sensitive and time bound documents. They are physical documents that must be seen and felt at the other end. We still deliver them. So, email or no email we are moving on.
After e-dividends and e-certificates, for instance, we still carry the e-advice, which is meant to notify the shareholders involved that their accounts have been credited. In fact, technology is a plus to what we do. More people are beginning to trust the system.
They can use the internet to track movement of their packages. If you are doubtful of the capital market, you can use your system to monitor how the share is fairing in the market. That has restored shareholders’ confidence.
 
Encounter with Government Agents
We have a lot of challenges in this regard; Government agencies do obstruct the movement of courier dispatch riders on essential duties because of tax collection. These taxes we pay.  I am of the opinion that if a special identification is given to us for the dispatch riders, it will enhance our inter-state operations and could reduce some legal risks to us.
 
Automation
Before now, when we have registered mails we recorded them in note books. This takes longer times. Presently, we give our customers soft copy that helps them to monitor the shareholder’ registered manifest. This makes it easier and more convenient to access their customers’ share registration.


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FG Collaborates with China to Digitalize Customs

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Federal Government is increasing collaborations with China to digitalise Nigeria Customs Service operations. This past weekend, NCS strengthened its cooperation efforts through a high-level engagement with the General Administration of Customs of China (GACC).

The meeting, held in Beijing, China, brought together senior officers of the customs service and top officials from the GACC to explore bilateral knowledge exchange and capacity development in customs administration.

Abdullahi Maiwada, NCS Assistant Comptroller of Customs said that discussions were held with officials from the GACC International Cooperation Division, the Training and Education Centre and representatives of the Shanghai Customs College.

“The engagement focused on deepening cooperation in customs training methodologies, modernisation models and technology-driven solutions, especially as China plays a pivotal role in Nigeria’s international trade network,” said Maiwada.

He added that during the meeting, the Chinese customs authorities shared their structured training system, which incorporates virtual reality, 5G-enabled systems, and blended e-learning approaches. In 2024, GACC conducted over 8 000 physical training sessions and developed 360 online courses.

Discussions also highlighted Nigeria’s active participation in China-led customs development initiatives, with over 200 African customs officers, including 89 from Nigeria, having received training since 2023 across various areas, such as trade facilitation, anti-smuggling enforcement, food safety supervision and digital port operations.

The bilateral dialogue between the two customs agencies also heralded new areas of collaboration, including Nigeria’s participation in upcoming Customs Modernisation Courses and officer development training at the Shanghai Customs College.

 


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Tesla Taps Samsung for Next-Gen AI Chip Production in $16.5Bn Deal

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Tesla CEO, Elon Musk has announced a $16.5 billion chip supply agreement with Samsung Electronics, a move expected to revive the South Korean company’s struggling foundry business.


The deal will see Samsung’s new chip factory in Taylor, Texas, manufacture Tesla’s next-generation AI6 chip.

Musk revealed that Tesla will help optimise production at the plant, located near his home, adding, “I will walk the line personally to accelerate the pace of progress.”

“The $16.5B figure is just the minimum — actual output will likely be several times higher,” Musk said in a post on X.

Samsung’s shares surged 6.8% to their highest level since September 2024 following the announcement, while Tesla stock gained 1.9% in premarket trading.

According to analysts, the Taylor facility previously struggled to attract major clients. The Tesla order marks a significant breakthrough, especially after reports in October 2024 revealed Samsung had delayed equipment deliveries due to a lack of customers.

Samsung currently produces Tesla’s AI4 chips for its Full Self-Driving system. While TSMC is set to make the AI5 chips, Samsung has now secured the more advanced AI6.

Though no specific timeline was shared, AI6 production is expected to begin in 2027 or 2028. Musk previously stated AI5 chips would be ready by late 2026.

Samsung, the world’s largest memory chipmaker, is working to expand its contract manufacturing business, which currently holds just 8% of the global market — far behind TSMC’s 67%.

The chip deal, running through 2033, had been initially announced without naming Tesla as the client. However, multiple sources confirmed the U.S. automaker as the buyer.

The partnership comes as Samsung faces intense pressure to compete in the booming AI chip sector. Earlier this month, the company projected a 56% drop in Q2 operating profit, with foundry losses exceeding $3.6 billion in the first half of the year.

Industry analysts say this deal could help reverse Samsung’s fortunes, offering a much-needed win in its race to stay competitive in a capital-intensive and technologically demanding field.


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New Tax Law Empowers NRS to Fine Offenders up to N10m

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The newly enacted Nigeria Tax Administration Act, 2025, has empowered the Federal Inland Revenue Service (FIRS), renamed Nigeria Revenue Service (NRS), to impose fines for individuals and companies for failing to register, file returns, use tax technology, or disclose basic information like a change of business address.

New Tax Law Empowers NRS to Fine Offenders up to N10m

The Act is among the tax laws signed by President Bola Tinubu on June 26.

The tax administration law is expected to take effect from January 1, 2026, under a renamed agency — the Nigeria Revenue Service (NRS), currently known as the FIRS.

The Act, which is an updated version of previous fragmented tax enforcement provisions, outlines a comprehensive list of offences and corresponding penalties, with fines ranging from N10,000 to N10 million, as well as prison terms of up to 10 years for serious breaches.

Under the general offences and penalties section of the law, a taxable person who fails to register with the relevant tax authority is liable to a N50,000 fine in the first month and N25,000 for each subsequent month of default.

The Act stressed that companies that award contracts to unregistered vendors will face a N5 million penalty.

The law also imposes a N100,000 fine for failure to file tax returns, plus N50,000 monthly for as long as the failure continues.

“A taxable person who fails or refuses to file returns or knowingly files incomplete or inaccurate returns to the relevant tax authority in accordance with the provisions of this Act, shall be liable to pay an administrative penalty of (a) 100,000 in the first month in which the failure occurs; and (b) N50,000 for each subsequent month in which the failure continues,” the Act reads.

“A taxable person who Failure to books (a) fails to keep accounts, books and records of business transactions and income, to allow for the correct ascertainment of tax and filing of returns to the relevant tax authority; or (b) upon request by the relevant tax authority, fails to provide any record or book prescribed in this Act shall be liable to pay an administrative penalty of- (i) in the case of a person other than a company, N10,000, and (ii) in the case of a company, N50,000.”

Also, the law states that failure to notify the tax authority of a change of address within 30 days of such change, giving a wrong address, or failing to comply with the requirement for notification of permanent cessation of trade or business under the relevant tax laws shall be liable to an administrative penalty.

“A taxable person who fails to notify the relevant tax authority – Failure to notify change of address (a) N100,000 for the first month in which the failure occurs; and (b) 45,000 for each subsequent month failure persists,” the law reads.

In a bid to modernise tax compliance, the Act makes it compulsory for businesses to allow the Federal Inland Revenue Service (FIRS) to deploy fiscalisation technology or face a N1 million fine for the first day of refusal and N10,000 for each day after.

Any business that fails to process sales through the fiscalisation system will also be fined N200,000, pay 100 percent of the tax due, and accrue interest at the prevailing Central Bank of Nigeria (CBN) monetary policy rate.

The Act is especially punitive toward those who fail to deduct or remit taxes.

“A person that deducts, collects, or withholds any tax under this Act, and fails to remit the amount deducted, collected, or withheld by the 21st day of the month immediately succeeding the month in which the amount was deducted, collected, or withheld, is liable to pay,” it added.

“Failure to remit tax deducted source or self-account (a) the amount deducted, collected or withheld but not remitted; (b) an administrative penalty of 10% per annum of the tax deducted, collected or withheld but not remitted; and (c) interest at the prevailing Central Bank of Nigeria monetary policy rate. “A person convicted of any of the offences under this section shall be liable to a term of imprisonment not exceeding three years, or a fine of not less than the principal amount due plus a penalty of not more than 50% of the sum, or both.

“A person who (a) fails to comply with the requirements of a notice served under this Act or any other tax law; (b) fails to attend or provide answers to a notice, summons or process served under this Act or any other tax law; or (c) having attended, fails to answer any question lawfully put to him, is liable to an administrative penalty of N100,000 in the first day of default and N10,000 for every subsequent day where the default.”


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