The International Monetary Fund (IMF) has commended Nigeria’s ongoing fiscal reforms and urged the country to adopt smarter spending strategies alongside stronger tax systems to sustain economic stability. Davide Furceri, Division Chief, Fiscal Affairs Department at the IMF, made this known during a news conference on the Fiscal Monitor held on Wednesday in Washington D.C.,…
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has urged media practitioners to take a more active role in promoting voluntary tax compliance across Nigeria. Adedeji, represented by his Technical Assistant on Broadcast Media, Arabinrin Aderonke, made the appeal on Wednesday in Kaduna at a one-day sensitisation programme themed “The…
The Federal Government has no immediate plans to implement the five per cent fuel surcharge contained in the newly signed Tax Administration Act 2025. Mr Wale Edun, the Minister of Finance and Coordinating Minister of the economy, said this at a news conference in Abuja on Tuesday He said that the surcharge was a long-standing…
The Trade Union Congress of Nigeria (TUC) has rejected the federal government’s proposed 5 per cent levy on petroleum products, giving authorities two weeks to withdraw the plan or face the prospect of a nationwide strike. In a statement on Monday, the TUC leadership accused the government of imposing new economic burdens on citizens already…
A Madrid court on Wednesday handed down a one-year sentence and a €386,000 ($375,000) fine to Brazil coach, Carlo Ancelotti, for failing to pay tax on his image-rights revenues when he was Real Madrid manager in 2014, the court said in a statement. However, ESPN reports that Ancelotti is likely to receive a suspended sentence…
The tax evasion trial of global cryptocurrency platform Binance Holdings Limited has been postponed in Nigeria, after the presiding judge, Justice Emeka Nwite of the Federal High Court in Abuja, was absent on Wednesday for official duties. The case, brought by Nigeria’s Federal Inland Revenue Service (FIRS), had been set to continue with the cross-examination…
The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), has expressed its profound appreciation to President Bola Tinubu, for the recent signing of the tax reform bills and the commission`s bill. Dr Muhammed Shehu, Chairman of the commission said this in Abuja on Monday, in his commendation message to the President, on the bills. Shehu said…
Gov Peter Mbah of Enugu State has again said that his administration did not increase taxes in the state as being speculated by some people, describing it as a “misconception”. The governor rather said that what his government simply did was to expand the state’s tax net by bringing in those who were not captured…
In a bold fiscal move, Nigerian President Bola Tinubu will sign into law four transformative bills on Thursday that aim to modernise the country’s tax system and boost its revenue-generation capabilities. The new laws – The Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill…
Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revealed that his administration is actively considering an increase in ground rent payments. Wike also identified the widespread refusal to pay ground rent and other taxes as the most significant obstacle he faces. The announcement follows a major enforcement drive by the FCT Administration (FCTA),…
