National
Why Tax Reform Bills will not be withdrawn from National Assembly– Tinubu
Proposed tax reform bills at the National Assembly will not be withdrawn, says President Bola Tinubu.
The News Agency of Nigeria (NAN) reports that the National Economic Council (NEC) on Thursday called for the bills’ withdrawal for further consultations.
The President, in a statement on Friday by Mr Bayo Onanuga, his Special Adviser, Information and Strategy, however, urged that the legislative process be allowed to take its course.
Tinubu said the legislative process, which had already begun, provided an opportunity for inputs and necessary changes without withdrawing the bills from the National Assembly.
He welcomed further consultations and engagement with key stakeholders to address any reservations about the bills while the National Assembly considered them for passage.
The statement read: “When President Tinubu set up the Presidential Committee on Tax and Fiscal Policy Reform in August 2023, he had only one objective.
“This is to reposition the economy for better productivity and efficiency and make the operating environment for investment and businesses more conducive.
“This objective remains more critical even today than ever before.”
The committee worked for over a year and received inputs from various segments of society across the geopolitical zones.
Inputs were received from trade associations, professional bodies, various MDAs, governors, traders, students, business owners and the organised private sector.
“The tax reform bills that emerged were distilled from the extensive work of the Presidential Committee.
“The tax bills before the National Assembly aim to streamline Nigeria’s tax administration processes, completely overhaul the nation’s tax operations, and align them with global best practices,” the statement read in part.
The tax reform bills include the Nigeria Tax Bill, which seeks to eliminate multiple taxation and make Nigeria’s economy more competitive by simplifying tax obligations for businesses and individuals nationwide.
NAN also reports that the Nigeria Tax Administration Bill (NTAB) proposes new rules governing the administration of all taxes in the country.
Its objective is to harmonise tax administrative processes across federal, state and local jurisdictions to ease taxpayers’ compliance and enhance the revenue for all tiers of government.
The Nigeria Revenue Service (Establishment) seeks to re-establish the Federal Inland Revenue Service (FIRS) as the Nigeria Revenue Service (NRS) to better reflect its mandate as the revenue agency for the entire federation, not just the Federal Government.
The Joint Revenue Board Establishment proposes creating a Joint Revenue Board to replace the Joint Tax Board, covering federal and all state tax authorities.
The fourth bill will also establish the Office of Tax Ombudsman under the Joint Revenue Board, protecting taxpayers’ interests and facilitating dispute resolution.
The statement read: “The bills’ overarching objective is to effectively coordinate federal, state, and local tax authorities, thereby eliminating the overlapping responsibilities, confusion, and inefficiency that have plagued tax administration in Nigeria for decades.
“Under existing laws, taxes like Company Income Tax, Personal Income Tax, Capital Gains Tax, Petroleum Profits Tax, Tertiary Education Tax, Value-Added and other taxing provisions in numerous laws are administered separately, with individual legislative frameworks.”
The proposed reforms seek to consolidate these numerous taxes, integrating them and excise duties into a unified structure to reduce administrative fragmentation.
“While there may be differences in approach or specific provisions of the new tax bills, what is not in contention is the need to review our tax laws and how we administer them to serve our overall national development agenda.
“President Tinubu will continue to respect and welcome the advice and recommendations of the National Economic Council, an essential constitutional organ of government on economic matters,” the statement read. (NAN)
Gunmen have abducted some female students of Joseph Sarwuan Tarka University in Makurdi, Benue state.
The students, reportedly numbering up to four, were abducted on Tuesday evening at the university’s North Core campus.
The students were said to have been headed for “night class”, a practice of late-night studying in Nigerian campuses.
The gunmen were said to have invaded the hotel area of the campus before abducting the four students.
Some moments after the incident, operatives of the Nigerian army arrived at the school.
Sewuese Anene, Benue police spokesperson, told TheCable on Wednesday that a report received by the police indicated that only two students were kidnapped during the incident.
Anene added that the police have launched an investigation into the matter.
The Markurdi incident is the latest in a series of abductions targeted at Nigeria’s tertiary school students in recent years.
In August 2024, at least 20 medical and dental students were kidnapped in Benue State while travelling to a convention in Enugu.
In September 2023, gunmen abducted approximately 20 students from a university in Zamfara state.
At Greenfield University in Kaduna State, at least 20 students and two staff members were kidnapped in April 2021.
Tragically, five students were killed during captivity before the remaining hostages were released after a month.
The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye, the elder brother and former manager of Paul and Peter Okoye of the defunct music group, P-Square, on charges of laundering ₦1.38billion, $ 1 million and £34,537.59.
Jude was arraigned alongside his company, Northside Music Ltd, before Justice Alexander Owoeye of the Federal High Court, Lagos, on a seven-count charge
One of the counts read: “That you, Jude Okoye Chigozie and Northside Music Ltd sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did directly acquire a landed property known as No 5, Tony Eromosele Street Parkview Estate, Ikoyi, Lagos worth ₦850,000,000.00 (Eight hundred and fifty million naira) only, which money you knew or reasonably ought to have known forms part of proceeds of unlawful act and thereby committed an offence contrary to Section 18 (2) (d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
Another count read: “That you, Jude Okoye Chigozie and Northside Music Ltd sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did indirectly using bureau de change convert the sum of $1,019,762.87 (One million nineteen thousand, seven hundred and six-two dollars eighty-seven cents), domiciled in Access Bank Plc operated by Northside Music Lid to the naira equivalent and remitted into various bank accounts with the intention of concealing that the said fund form part of the proceeds of an unlawful act and thereby committed an offence contrary to Section 18 (2)(a) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
He pleaded “not guilty” to the charges.
In view of his plea, the prosecution counsel, Larry Peters Aso, applied for a date for hearing as well as for the remand of the defendant in the correctional facility pending trial.
The defendant’s counsel, Inibehe Effiong, informed the court of a pending bail application. He asked for a short date for the hearing. Effiong also asked that the defendant be remanded in the EFCC’s custody pending the hearing of the application.
Aso objected to the request for the defendant to be remanded in the EFCC custody. He argued that the EFCC custody was already congested with suspects awaiting arraignment. He urged the court to remand the defendant to the correctional facility since he had taken his plea.
Justice Owoeye adjourned the matter till February 28 for bail hearing and April 14 for trial.
He also ordered that the defendant be remanded in the Ikoyi correctional facility.
The Department of State Services (DSS) has arrested Kogi-born political activist and Peoples Democratic Party (PDP) chieftain, Austin Okai, in Abuja.
The arrest, which took place on Wednesday morning, was reportedly carried out on the directive of Kogi State Governor Ahmed Usman Ododo.
Video footage obtained by Elanza shows heavily armed security operatives storming Okai’s residence in the Federal Capital Territory before taking him away.
While no official reason has been given for his arrest, sources suggest it may be connected to his outspoken criticism of the Kogi State government.
Okai, a well-known opposition figure, has frequently condemned the administration’s policies and governance.
His wife, speaking to reporters, claimed that the DSS operatives did not present an arrest warrant before detaining him.
“They came to arrest him at our home in Abuja without a warrant,” she said.
“They ransacked our house, forced their way inside, and took him away. I asked for a warrant, but they had none.”
She further alleged that Okai’s personal gadgets were confiscated during the operation.
As of the time of this report, the DSS has not issued any official statement regarding Okai’s detention.