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Tinubu Signs New Tax Code Into Law

President Bola Ahmed Tinubu has officially signed into law four landmark Tax Reform Bills, marking a significant shift in Nigeria’s tax landscape.

The move follows months of policy work, reviews, and consultations aimed at modernising a tax system long criticised as complex, unfair, and burdensome for small businesses.

The new laws include the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.

Together, they aim to streamline tax collection, enhance transparency, promote equity among states, and protect taxpayers’ rights.

“This is not just another item checked off a list. It is one of the most transformative economic decisions Nigeria has seen in years,” said columnist Arabinrin Aderonke Atoyebi in a strongly worded piece.

The Nigerian Tax Bill consolidates existing tax laws into a single, more user-friendly framework.

Meanwhile, the Administration Bill introduces standardised, digital collection processes to ease compliance for citizens and businesses.

Under the reforms, the Federal Inland Revenue Service (FIRS) has been replaced by a more independent body, the Nigeria Revenue Service, with a broader mandate covering both tax and non-tax revenues. A key highlight is the restructuring of Value Added Tax (VAT) sharing.

For the first time, states will retain 30% of the VAT they generate. Another 50% will be shared equally among all states, and the remaining 20% will be distributed based on population.

Analysts say this change incentivizes states to improve their local economies and tax collection efficiency.

The reforms also grant exemptions to small businesses earning below ₦50 million annually from paying company income tax, a measure expected to benefit thousands of micro and small enterprises nationwide.

“These laws speak the language people understand. They offer relief from the constant anxiety of multiple levies, unclear charges, and unpredictable policies,” Atoyebi said.

The legislation introduces oversight mechanisms such as a Tax Appeal Tribunal and Tax Ombudsman, aiming to strengthen accountability and fairness in the tax system.

Praise was extended to Dr. Zacch Adedeji, Executive Chairman of the FIRS, who played a central role in the reform process.

Atoyebi wrote, “He put his head down, did the work, and it’s showing now.”

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Wole Soyinka Reveals He’s Been Banned from Entering the United States

Nobel Prize-winning writer Wole Soyinka says the U.S. has withdrawn his visa and requested its physical cancellation in Lagos. Wole Soyinka said on Tuesday that the United States had revoked his non-immigrant visa issued last year, and that he had been informed he must reapply should he wish to visit the U.S. again.

The 91-year-old writer had torn up his U.S. green card and renounced his American residency in 2016 in protest of the election of President Donald Trump. The Nobel laureate has held regular teaching appointments at American Ivy League universities since the mid-1990s, following his Nobel Prize for Literature in 1986.

“The moment they announce his victory, I will cut my green card myself and start packing up,” Soyinka had said.

On Tuesday, Soyinka presented reporters with a letter from the U.S. Consulate General in Lagos requesting that he bring in his passport for the physical cancellation of his visa.

The letter, dated 23 October, stated that “additional information became available” after the visa had been issued. The U.S. Embassy in Nigeria did not immediately respond to a request for comment.

“I have no visa; I am obviously banned from the United States, and if you want to see me, you know where to find me,” Soyinka said, addressing those who might have planned to invite him to events in the U.S.

In July, the U.S. Embassy in Nigeria announced that Nigerians applying for non-immigrant visas would now receive single-entry, three-month permits, rolling back the previous policy that had allowed multiple-entry, up to 5-year visas.

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“I Feel Sorry for Men with One Wife” – Ned Nwoko Has No Regrets After Marrying 4 Wives

Senator Ned Nwoko, who represents Delta North, has finally opened up about his marriage to Nollywood actress Regina Daniels, addressing weeks of speculation, accusations, and viral clips that set social media on fire.

The businessman and politician not only defended his controversial polygamous lifestyle but also denied claims that he had been violent towards his wife.

Speaking on Channels TV’s Politics Today on Sunday, the politician addressed the marital crisis with his actress wife, Regina Daniels, directly.

He made astonishing claims about the merits of multiple marriages and firmly rejected the explosive allegations of domestic violence.

In his own words, Ned painted himself as a man who has been misunderstood, while standing firmly by his tradition and choices.

Senator Nwoko was asked about the status of his marriage with his youngest wife, Regina Daniels, following the disturbing video of a 25-year-old Nollywood actress that went viral.
A teary clip showed the actress crying and saying she couldn’t “stand the violence anymore.” In the footage, she was heard lamenting, “In Ned Nwoko’s house, I am nothing. But in my own house, I am a Queen.”

The video triggered outrage across social media, with many Nigerians accusing the lawmaker of domestic abuse. However, Senator Nwoko firmly rejected the claim, saying the story was false and that he had never raised a hand on any of his wives.

In his usual calm but confident tone, Senator Nwoko also spoke openly about being a proud polygamist, calling it both a blessing and a cultural duty.

The 64-year-old Senator expressed sympathy, or perhaps pity, for men in monogamous marriages: “I feel sorry for those who have one wife,” he said.

He argued that having multiple wives offers men greater stability and balance, using a striking, easy-to-understand analogy: “Just imagine standing on one leg — it’s difficult. But with two, three, or four, you’re more balanced. That’s the example I give.”

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NCC, CBN’s move to end failed airtime, data transactions

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The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have joined forces to introduce a unified framework aimed at curbing failed airtime recharges and data transactions on electronic platforms.

The initiative, announced last week, seeks to enforce accountability among telecom operators, payment processors, and financial institutions, ensuring that millions of subscribers get timely redress for failed or incomplete transactions.

The Centre for Digital Justice and Consumer Rights (CDJCR) has applauded the move, describing it as a landmark in consumer protection. In a statement on Monday, October 20, 2025, the group’s Executive Director, Dr Kenechukwu Opara, said the collaboration between the two regulators was long overdue.

“For far too long, consumers have borne the brunt of system failures that are neither their fault nor within their control,” Opara said.

Opara noted that failed recharges and data purchases are among the most frequent complaints by telecom users, with many left stranded due to delayed or unresolved reversals. The new framework, he said, would protect millions of Nigerians who rely on mobile platforms for daily microtransactions.

Consumers are not just users; they are the backbone of the telecom and financial systems. By ensuring that customers get full value for every recharge and data purchase, the NCC is not only protecting rights but also deepening trust in Nigeria’s cashless and digital inclusion policies,” he added.

The CDJCR praised the NCC’s Executive Vice Chairman, Dr Aminu Maida, for prioritising consumer welfare and for pushing a proactive regulatory agenda.

While commending the regulators, Opara urged them to go a step further by enforcing clear timelines, transparent processes, and strict sanctions against operators who fall short of agreed standards.

“We encourage both regulators to publish the service level expectations for all stakeholders — telecom operators, payment processors, and financial institutions — so that consumers know who to hold accountable when transactions fail,” he said.

The group also applauded the CBN for embedding consumer rights in its financial protection framework, especially for low-income Nigerians who depend heavily on digital services for daily payments.

Beyond telecoms, Opara argued that the NCC–CBN partnership should become a model for other sectors where technology, finance, and service delivery intersect.

“This kind of inter-agency collaboration shows that government institutions can truly work in the interest of citizens. What matters now is strict compliance and constant review of the framework to adapt to new technologies and emerging consumer issues,” he said.

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