By Ajibola Olaide, JKNewsMedia Reporter LOW-INCOME earners will not pay personal income tax under the new tax regime that took effect on January 1, the Federal Government has confirmed saying the clarification comes amid criticisms suggesting the reforms impose additional burdens on the poor. Director-General of the Budget Office of the Feder...
By Stella Onyebuchi, JKNewsMedia Reporter ASSURANCES OVER personal bank accounts and income declarations have been issued as the Federal Government prepares to roll out sweeping tax reforms from 1 January 2026, following growing public concern over how the changes will be enforced. Clarifying the scope of the reforms, the Chairman of the Pres...
By Jemimah Wellington, JKNewsMedia Correspondent IMPLEMENTATION OF Nigeria’s new tax laws will proceed as scheduled, with remaining provisions set to commence on January 1, 2026, following a reaffirmation by President Bola Tinubu on December 30, 2025. The President stated that the new tax laws, including those that took effect on June 26, 2025...
By Jemimah Wellington, JKNewsMedia Correspondent NIGERIA’s NATIONAL Identification Number (NIN) has now automatically become the Tax Identification Number (TIN) for individuals, the Federal Inland Revenue Service (FIRS) has said, as public attention grows around tax requirements linked to financial and economic activities. The clarification f...
By Jemimah Wellington, JKNewsMedia Correspondent QUESTIONS OVER the integrity of Nigeria’s tax reform legislation surfaced on the floor of the House of Representatives after a lawmaker alleged that the version of the law released to the public differs from what lawmakers approved during plenary. The issue emerged during Wednesday’s sitting wh...
By Jemimah Wellington, JKNewsMedia Correspondent PUBLIC DISCUSSION around a Memorandum of Understanding (MoU) signed between Nigeria and France has drawn an official response from the Federal Inland Revenue Service (FIRS), which says the agreement does not compromise national sovereignty or taxpayer data. Concerns raised in recent reports and...
By Jemimah Wellington, JKNewsMedia Correspondent MANDATORY TAX identification will become a condition for operating bank accounts in Nigeria from January 1, 2026, following a federal government directive tied to new tax administration laws. The requirement applies to every taxable Nigerian and forms part of a broader effort to strengthen tax ...
By Joke Kujenya WITH EFFECT from 1 January 2026, tax reliefs are coming for millions of Nigerians as the Federal Government confirmed that fifty exemptions and incentives under the new tax reform laws will commence. The Presidential Fiscal Policy and Tax Reforms Committee, chaired by Taiwo Oyedele, said the measures are designed to reduce the...
By Joke Kujenya ABOUT TO be introduced for implementation, Nigeria’s new tax reform is designed to make life easier for both citizens and businesses. It simplifies taxes, reduces duplication, and ensures fairness, said Taiwo Oyedele, Chairman, the Presidential Fiscal Policy and Tax Reforms Committee (PFPTRC). Come January 2026, under the new ...
By Joke Kujenya PAINFUL BUT necessary adjustments in Nigeria’s tax system are beginning to yield measurable results as the Presidential Fiscal Policy and Tax Reforms Committee (PFPTRC) Chairman, Taiwo Oyedele, said the government advances a sweeping national tax overhaul designed to simplify levies, cut corporate rates, and promote fairness. ...
