The federal government has halted the issuance of guidelines for the implementation of the new tax laws, citing uncertainty over the final version, Taiwo Oyedele, Chairman, Presidential Tax Reform Committee, has revealed. He said he had told the Nigeria Revenue Service (NRS) and the Joint Revenue Board (JRB) to wait because guidelines on the implementation…
The federal government has moved to calm public concerns over recent changes to Nigeria’s tax laws, insisting that the adjustments will not negatively affect citizens or the overall tax system. Recall that in June 2025, President Bola Tinubu on Thursday signed into law four landmark tax reform bills designed to overhaul Nigeria’s fiscal and revenue…
Electricity distribution companies (DisCos) in Nigeria collected a total of N1.13tn in revenue from their customers over the six months spanning the second and third quarters of 2025 (April to September), according to detailed monthly performance data from the Nigerian Electricity Regulatory Commission. This is despite repeated complaints of low power supply among electricity consumers…
First HoldCo Plc (FirstHoldCo or the Group) has announced that its commercial banking subsidiary, First Bank of Nigeria (FBN), has successfully met the Central Bank of Nigeria’s (CBN) minimum capital requirement of N500 billion. This milestone was achieved following the completion of a series of strategic capital initiatives, including a Rights Issue, a Private Placement,…
OPay has introduced a N9,999 quick-transfer option, a move many users believe is aimed at helping customers avoid the N50 stamp duty charged on electronic transfers of N10,000 and above. Under Nigeria’s stamp duty framework, electronic transfers that meet or exceed the N10,000 threshold attract a flat N50 charge. With ongoing discussions about tax reforms…
The National Association of Nigerian Students, and some opposition political party leaders are against the implementation of the new tax reforms laws from January 1, 2026, in Nigeria The National Association of Nigerian Students (NANS), and some leaders of the opposition political parties have expressed opposition against the application of the new tax reforms laws…
Fellow Compatriots, I welcome you all to 2026, with gratitude to God and confidence in our collective resolve that this new year will be a more prosperous one for our nation, our citizens, and all who call Nigeria home. During 2025, we sustained the momentum on our major reforms. We had a fiscal reset and…
The Coalition of Northern Groups (CNG) has condemned President Bola Ahmed Tinubu’s insistence on implementing the newly enacted tax reform laws from 1st January, 2026, describing the move as an assault on democracy amid unresolved allegations that the laws were materially altered after passage by the National Assembly. The CNG unequivocally condemned the posture, which…
The Federal Inland Revenue Service (FIRS) has officially transitioned to the Nigeria Revenue Service (NRS), a newly established revenue authority. The transition was marked with the unveiling of the agency’s new logo, according to a statement from Special Adviser to the chairman of NRS, Dare Adekanmbi This is as Nigerian banks will begin deducting a…
The Senate has finally reacted to claims surrounding the alleged forgery of President Bola Tinubu’s new tax laws. The upper chamber openly backed the president’s decision to commence full implementation of the laws from January 1, 2026. Lawmakers dismissed claims that the tax framework was altered or manipulated. They described the controversy as politically driven…
