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Digital misinformation targeting the pockets of Nigerian motorists has met a firm rebuttal from the Nigeria Revenue Service (NRS), following the circulation of a viral infographic claiming a new vehicle tax regime would take effect from July 1. The graphic, which has been widely shared across messaging and social media platforms, suggests that owners…
Senate President Godswill Akpabio has attributed the recent escalation of insecurity across parts of Nigeria to political maneuvering ahead of the 2027 general elections, asserting that the unrest is designed to discredit the administration of President Bola Tinubu. Akpabio made the remarks yesterday at the official commissioning of a major tax administration facility by…
Monthly federal revenue has jumped from N711 billion in May 2023 to N3.635 trillion by September 2025, marking a 411.3 per cent increase under the current administration. Zacch Adedeji, Executive Chairman of the newly christened Nigeria Revenue Service (NRS), announced these figures during the inauguration of the agency’s 16-storey headquarters in Abuja. The growth reflects…
Africa loses $88 billion to illicit financial flows every year. Wale Edun, Nigeria’s Finance Minister, laid out this grim arithmetic at an African Union tax summit in Abuja. These vanished billions represent a direct theft from the continent’s schools, hospitals, and power grids. The minister argues that Africa can no longer beg or borrow its…
In a definitive shift for Nigeria’s fiscal federalism, the 36 state governments saw their share of Value Added Tax (VAT) soar to ₦551.77 billion in January 2026. This represents a 30.4% increase from the previous month and marks the first distribution under the Nigeria Tax Act 2025. Under the new framework, the Federal Government’s take…
The National President of the Agents Association of Nigeria, Sarafadeen Atanda Fasasi, has strongly opposed the planned implementation of a 7.5 per cent Value-Added Tax on bank transfers and Unstructured Supplementary Service Data transactions, describing the measure as double taxation and warning it could undermine Nigeria’s financial inclusion objectives. The controversy erupted following indications…
The Nigeria Revenue Service has dismissed widespread reports claiming that Value Added Tax is being imposed directly on bank transfers, clarifying that the 7.5 per cent levy applies exclusively to service fees charged by financial institutions and not to the actual funds being moved by customers. In a statement issued on Thursday, the federal…
