Category: Finance and Economy

NEC Moves to Engage Presidential Tax Reform Committee as Questions Trail New Tax Laws

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NEC Moves to Engage Presidential Tax Reform Committee as Questions Trail New Tax Laws

The National Economic Council (NEC) has resolved to formally engage the Presidential Fiscal Policy and Tax Reforms Committee over emerging issues linked to Nigeria’s newly enacted tax laws, signaling a coordinated effort to address concerns around interpretation, implementation, and impact across the federation. The resolution was reached during NEC’s first meeting of the year, chaired…

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Finance and Economy, Taxation and Tax Laws

Why Is the Federal Ministry of Works Budgeting Over N500m for Hairdressers and Make-Up Artists in 2026?

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Why Is the Federal Ministry of Works Budgeting Over N500m for Hairdressers and Make-Up Artists in 2026?

The Federal Ministry of Works has come under public scrutiny following the revelation that more than ₦500 million has been earmarked in its 2026 budget proposal for empowerment programmes that appear far removed from its core infrastructure mandate. According to details contained in the 2026 Appropriation Bill published on the Budget Office of the Federation’s…

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Budget and Expenditures, Finance and Economy

Public Outrage as FG Slaps 7.5% VAT on Mobile Bank Transfers, USSD Payments from January 19

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Public Outrage as FG Slaps 7.5% VAT on Mobile Bank Transfers, USSD Payments from January 19

Public anger is mounting across Nigeria following confirmation that a 7.5 per cent Value Added Tax (VAT) will be imposed on mobile bank transfers and USSD transactions starting January 19, 2026, a move many Nigerians say will deepen the cost-of-living crisis and punish the poor who rely heavily on digital banking for daily survival. The…

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Tax enforcement, Taxation and Tax Laws

From Airdrops to Arrests: The Easiest, Hardest, Hidden and Darkest Ways People Acquire Crypto Assets

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From Airdrops to Arrests: The Easiest, Hardest, Hidden and Darkest Ways People Acquire Crypto Assets

As global interest in digital currencies deepens in 2026, crypto assets are no longer the exclusive playground of tech elites and early adopters. From everyday users earning tokens online to criminals exploiting the anonymity of blockchains, the routes into crypto ownership are as diverse as they are controversial. This feature explores the full spectrum of…

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Cryptocurrencies

Joint Revenue Board Launches Nigerian Tax ID Portal for Easier Tax Identification

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Joint Revenue Board Launches Nigerian Tax ID Portal for Easier Tax Identification

The Joint Revenue Board (JRB), in collaboration with the Nigerian Revenue Services (NRS), formerly known as the Federal Inland Revenue Service (FIRS), has announced the launch of a new digital platform known as the Nigerian Tax ID Portal, aimed at simplifying tax identification for individuals and businesses across the country. According to the announcement, the…

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Finance and Economy, Taxation and Tax Laws

Gazette Controversy Deepens as Oyedele Says Tinubu Can’t Halt New Tax Laws, Lawyers Warn of Constitutional Breach

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Gazette Controversy Deepens as Oyedele Says Tinubu Can’t Halt New Tax Laws, Lawyers Warn of Constitutional Breach

The controversy surrounding Nigeria’s newly gazetted tax reform laws has escalated following claims by Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, that President Bola Tinubu lacks the constitutional power to suspend or halt the implementation of the laws once they have been assented to and gazetted. The dispute centres on…

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Taxation and Tax Laws

FIRS Confirms NIN as Tax ID for Nigerians, CAC Number Becomes Official Tax Identifier for Businesses

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FIRS Confirms NIN as Tax ID for Nigerians, CAC Number Becomes Official Tax Identifier for Businesses

The Federal Inland Revenue Service (FIRS) has confirmed a major reform in Nigeria’s tax administration system, announcing that the National Identification Number (NIN) will serve as the official Tax Identification Number for individual Nigerians, while the Corporate Affairs Commission (CAC) registration number will become the recognized tax identifier for businesses. The clarification follows growing public…

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Finance and Economy, Tax enforcement, Taxation and Tax Laws

Tinubu Reshuffles Finance Ministry, Transfers Key Revenue Powers from Wale Edun to Doris Uzoka-Anite

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Tinubu Reshuffles Finance Ministry, Transfers Key Revenue Powers from Wale Edun to Doris Uzoka-Anite

President Bola Ahmed Tinubu has approved a major restructuring within the Federal Ministry of Finance, transferring critical revenue-generation and cash management responsibilities from Finance Minister Wale Edun to Minister of State for Finance Dr. Doris Uzoka-Anite. The directive, issued via a presidential memo dated December 10, 2025, marks one of the most significant reorganizations of…

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Finance and Economy

Tax Reform Controversy Deepens as Presidency Dismisses Alteration Claims, Obi, Atiku Demand Suspension

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Tax Reform Controversy Deepens as Presidency Dismisses Alteration Claims, Obi, Atiku Demand Suspension

The Presidency has pushed back strongly against allegations that Nigeria’s newly enacted tax reform laws were altered after approval by the National Assembly, as former Vice President Atiku Abubakar, Labour Party’s 2023 presidential candidate Peter Obi, and other political actors call for an immediate suspension of the laws’ implementation. The controversy has ignited a fresh…

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News, Taxation and Tax Laws