We’re excited to announce that purchasing gift cards in Nigeria has never been easier and more rewarding. No more difficulty, just a few taps on your phone, and you’re all set.

Exclusive Offer Alert

Whether you’re treating yourself or surprising a friend, simply log in to the PalmPay app to enjoy an exclusive 5% discount on your gift card purchase. This fantastic offer runs from July to September 2024, so don’t miss out!

Why PalmPay Gift Cards Are a Game-Changer:

1. Extensive Selection: Access a wide variety of gift cards for popular platforms like iTunes, Spotify, Amazon, Google Play Store, and many more. Shopping has never been this convenient!
2. Reliability: Purchase with confidence knowing that your gift card will work seamlessly. PalmPay ensures a remarkable 99.5% transaction success rate.

How to Get Your Gift Card:

It’s incredibly simple:

1. Download the PalmPay App: If you haven’t already, head over to the Google Play Store or iOS Store and download the app.
2. Open the App: Launch the PalmPay app on your device.
3. Select Your Gift Card: Navigate to the ‘Gift Card’ section, choose your country, select the desired amount, and complete your payment.

Voila! Your gift card is ready to use.

Join the Celebration

Do you know someone who’s been having trouble getting a gift card? Spread the word and share this amazing news with them. For more details and updates, be sure to follow us on our social media channels.

Board of Directors of Tolaram, one of Nigeria’s leading conglomerates, has appointed Adesuwa Ladoja as the Managing Director/Chief Executive Officer of the Lagos Free Zone (LFZ) Company, one of its subsidiaries.

Adesuwa Ladoja

In a statement issued by the Board of Directors to its stakeholders, the appointment is effective July 1, 2024.

Adesuwa Ladoja takes over from Dinesh Rathi, who has been moved to the position of Group Finance Director of Tolaram.

According to the release, Ladoja brings extensive experience in infrastructure development and strategic leadership.

“She has been a key player in the development of the Lekki Deep Sea Port project, leading to its financial close in 2020, the completion of its construction in 2022 and commercial operation in 2023. Her leadership and strategic vision have been critical to the project’s success.”

Ladoja, a Lawyer, started her career in general commercial practice and litigation as an Associate at Ajumogobia & Okeke. This was followed by over a decade at KPMG Professional Services, where she specialised in Tax, Regulatory, and People Services.

She holds a Bachelor of Law degree (LL. B Hons) from Obafemi Awolowo University and a Master of Law (LL.M Hons) degree in International Business Law from King’s College, University of London.

Ladoja is a member of the Nigerian Bar Association and several other professional bodies and a notary public of the Supreme Court of Nigeria.

According to the Board, Ladoja’s multifaceted expertise will be invaluable in driving the Lagos Free Zone Company’s growth and innovation agenda.

Ladoja said: “I am honored to be given this opportunity, and I look forward to continuing the good work done by Dinesh and the team at LFZ in creating a unique industrial ecosystem which places sustainability and customer-centricity at its core.

“Lagos Free Zone with its integrated Lekki Port is the perfect illustration of what ease of doing business represents and we look forward to hosting more companies.”

Established in 2012, Lagos Free Zone is an award-winning port-based industrial zone (850 hectares) in Lagos, Nigeria, with over $2.5 billion committed FDI projects to date.

Owned and promoted by Tolaram, LFZ is located in Lekki, the sunrise development corridor in Lagos. With its vision to be the preferred industrial hub in West Africa.

KuCoin, a leading cryptocurrency exchange, has announced it will begin collecting a 7.5 percent value-added tax (VAT) on transaction fees for its users in Nigeria.

The decision follows a recent regulatory update in the country, prompting KuCoin to introduce the VAT.

In a statement released on July 3, KuCoin confirmed that the VAT deduction will take effect from July 8. The company clarified that the 7.5 percent VAT will be applied specifically to the transaction fee, not the total amount. For example, if a user purchases $1,000 worth of Bitcoin with a 0.1 percent fee, the transaction fee would be $1. Consequently, the VAT on this fee would be $0.075, making the net amount for the transaction $998.925.

The statement read; “We are writing to inform you of an important regulatory update that impacts our users from Nigeria.

“Starting from July 8th, 2024, we will begin collecting a Value-Added Tax (VAT) at a rate of 7.5% on transaction fees in each trade for users whose KYC information is registered in Nigeria.

“Nb: The 7.5% is only charged on the 0.1%/0.05% transaction fee and not your total amount which will be remitted.

“Please note that the VAT will be applied to the transaction fees in each trade, not the transaction amount, and covers all transaction types on KuCoin platform.”