News
Tinubu suspends Finance Act, halts 5% excise tax on telecoms
President Bola Tinubu has signed four Executive Orders, which include the suspension of the five per cent Excise Tax on telecommunication services as well as the Excise Duty escalation on locally manufactured products in a bid to curb multiple taxations as complained by a cross-section of Nigerians and the business community.
The President also suspended the 2023 Finance Act 2023 deferring the date of its commencement from 28th May, 2023 to 1st of September, 2023.
Some of the suspended taxes were issued through Executive Orders by former President Muhammadu Buhari at the twilight of his administration.
They include Corporate Income tax, Import duties, Export duties, Excise duties, Rents, Capital Gains tax, Personal Income tax, Value Added tax, Stamp duties, Property tax, Licenses, Motor Parking fee, Motor Vehicle fee, Withholding tax, Land tax, Market License fee, Road tax, Business Premises, dividend tax, NHIS levy, Advert fee, Regulation fees, the new NYSC levy.
The Special Adviser to the President on Special Duties, Communications and Strategy, Dele Alake, disclosed this while briefing State House correspondents on Thursday at the Presidential Villa Abuja.
According to him, some of the tax policies are being implemented retroactively with their commencement dates, and in some instances, pre-dating the official publication of the relevant legal instruments backing them.
Alake had led the members of the administration’s Revenue Team to brief State House newsmen at the Presidential Villa, Abuja.
Others on the team were Special Adviser to the President on Revenue, Mr Zacc Adedeji; Ms Doris Aniettie, a member of the Presidential Advisory Council on Finance and other Related Matters; Adenike Laoye, from the Office of the Chief of Staff to the President
He said President Tinubu also signed the Finance Act (Effective Date Variation) Order, 2023, which now defers the commencement date of the changes contained in the Act from May 23, 2023 to September 1, 2023.
He explained that this is to ensure adherence to the 90 days minimum advance notice for tax changes as contained in the 2017 National Tax Policy.
President Tinubu also signed The Customs, Excise Tariff (Variation) Amendment Order, 2023, shifting the commencement date of the tax changes from March 27, 2023 to August 1, 2023 and also in line with the National Tax Policy.
He said, “The second one is the Customs, Excise Tariff (Variation) Amendment Order, 2023, which shifts the commencement date of the tax changes from March 27, 2023 to August 1, 2023 and also in line with the National Tax Policy.”
“The other Executive Order signed by the president suspends the 5% Excise Tax on telecommunication services as well as the Excise Duties escalation on locally manufactured products.
“The last Executive Order also suspends the newly introduced Green Tax by way of Excise Tax on Single Use Plastics, including plastic containers and bottles.
“Tinubu also ordered the suspension of Import Tax Adjustment levy on certain vehicles.”
Alake explained that this is in the president’s commitment to creating a business-friendly environment.
He said: “As a listening leader, the President issued these orders to ameliorate the negative impacts of the tax adjustments on businesses and chokehold on households across affected sectors. His Excellency will not exacerbate the plight of Nigerians.”
According to him, President Tinubu’s intention is to listen to the concerns of the Nigerian people and alleviate the negative impacts of the tax adjustments, rather than exacerbate the challenges faced by the citizens.
He further explained that the decision is in fulfilment of President Tinubu’s promise to address business unfriendly fiscal policy measures and multiplicity of taxes.
‘President committed to reviewing complaints about multiple taxes’
News
N80.2bn fraud: EFCC finally detains ex-Kogi governor
Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Yahaya Bello, former governor of Kogi state.
According to TheCable, Usman Ododo, Kogi governor, brought Bello to Abuja this morning and invited EFCC to come pick him up.
The EFCC had charged the former governor with alleged money laundering, breach of trust, and misappropriation of N80.2 billion.
The former governor’s detention was disclosed by EFCC’s Head of Media and Publicity, Dele Oyewale.
“We have arrested him. Our chief security officer arrested him and he was brought in by 12:54pm. He is having a session with our investigators. We are holding him in our custody,” Oyewale told TheCable.
In September, Bello honoured the invitation of the anti-graft agency in Ododo’s company.
The former governor and Ododo were at the car park of the Abuja office of the EFCC, but the anti-graft agency did not arrest him.
The beginning
In April, the commission declared Bello wanted after several attempts to arrest him proved unsuccessful.
On August 20, the court of appeal in Abuja ordered Bello to surrender himself for arraignment.
Ola Olukoyede, EFCC chairman, would later allege that Bello withdrew $720,000 from Kogi coffers to pay his child’s school fees in advance.
The anti-graft agency also filed a 19-count charge against Bello over alleged money laundering.
However, the arraignment was stalled due to the absence of the former governor.
In May, Abdulwahab Mohammed, counsel to Bello, told the court that the former governor’s whereabouts remain unknown and that he was nurturing some safety concerns.
On August 20, the court of appeal in Abuja ordered Bello to surrender himself for arraignment.
Dele Oyewale, EFCC spokesperson, had said the court’s ruling was a “vindication” of the EFCC’s stance that Bello must face trial.
Sources had told TheCable that Bello has been hiding in plain sight — holed up in the “protective custody” of the Kogi state government — since he was declared wanted by the EFCC.
News
FAME Foundation launches tracker to eliminate violence against women
FAME Foundation, a gender focused non-governmental organisation (NGO), has launched a tracker to report and document femicide cases in Nigeria.
Speaking at a press conference on Monday to commemorate the International Day for the Elimination of Violence Against Women, Arabinrin Aderonke Atoyebi, founder of the foundation, called for collective action to end femicide.
She said the tracker will provide reliable data on cases of femicide in Nigeria.
“Today, I am proud to announce the launch of our Femicide Tracker, an important tool that allows for the reporting and documentation of femicide cases,” she said.
“This tool will help ensure that no case goes unnoticed, no story is silenced, and that we, as a society, can work toward justice and accountability for victims and their families.
“By utilizing this tool, we aim to spotlight this pressing issue and mobilize action against the rising trend of femicide.”
She said the foundation’s activities for this year’s campaign will focus on amplifying awareness, empowering people, and engaging communities.
As a call to action for collective efforts against gender-based violence, Bello announced the launch of a social media campaign, #HereForHer.
“This campaign serves as a reminder of the collective responsibility we share to protect and empower women and girls,” she said.
“Let us remember, awareness is just the starting point. True change requires sustained and united efforts.
“It demands a commitment from governments to enforce laws that protect women, from civil society to create supportive environment, and from people to challenge harmful behaviours and attitudes.”
News
UK Visa Application: New locations announced in Lagos, Abuja for booking of appointments
The United Kingdom, UK, has announced changes of its visa application centres in Nigeria.
The UK embassy made the announcement in a statement issued on Wednesday.
In a statement on its official X handle, the embassy said the UK is changing its visa supplier in Nigeria.
It however assured that applicants would be notified with further information via email.
“The supplier of our visa application centres in Nigeria is changing. During this transition customers may submit and collect their documents from different location.
“You will be contacted via email if this affects you.”
Applicants were advised to visit the UK official visa application website for more details.
News
NJC sets up panel to probe allegations against Osun CJ, others
The National Judicial Council, under the Chairmanship of the Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun, has constituted a committee to investigate multiple allegations against Osun State Chief Judge, Hon. Justice Adepele Ojo and others.
In its 107th meeting on November 13 and 14, 2024, the NJC sanctioned five judicial officers for misconduct and recommended the formation of a committee to probe the various complaints against Justice Ojo.
At the heart of the allegations are claims that Justice Ojo has repeatedly failed to adhere to legal and ethical standards expected of her position.
A petition submitted to the NJC by the Concerned Citizens of Nigeria, Osun State Chapter, further outlined the gravity of the allegations. The petition claims that Justice Ojo’s actions have violated both the spirit and the letter of the law. The group accuses her of gross abuse of office, breaches of professional ethics, and a blatant disregard for the rule of law, which they argue has led to a loss of public trust in the judiciary.
Earlier, Osun State Governor Ademola Adeleke took the decision to suspend Justice Ojo following a resolution by the State House of Assembly. The resolution cited serious allegations of misconduct, abuse of power, corruption, and failure to uphold the rule of law.
Additionally, Justice Ojo is accused of taking personal vengeance against judiciary staff, she dismissed several staff members who had shown courage in reporting her actions, creating a climate of fear and retaliation within the judiciary.
News
NCC commences pre-enforcement action on Starlink over price hike
The Nigerian Communications Commission (NCC) says the decision by Starlink to unilaterally review its subscription packages upwards did not receive the approval of the commission.
In a statement signed by its Director, Public Affairs, Reuben Mouka said the action of the company is in contravention of Sections 108 and 111 of the Nigerian Communications Act (NCA), 2003, and Starlink’s Licence Conditions regarding tariffs.
The Commission commenced pre-enforcement action on the licensee on the 3rd of October, 2024.
News
FG to begin $750m rural electrification project November
The Federal Government has announced that it will commence implementation of the $750m World Bank-funded rural electricity project in November.
It said the project will provide over 17.5m Nigerians with new or improved access to electricity through distributed renewable energy solutions.
The Managing Director of the Rural Electrification Agency, Abba Aliyu, disclosed this when he appeared on Channels Television’s Sunrise daily programme on Thursday.
Recall that in December 2023, the World Bank announced the approval of Nigeria Distributed Access through Renewable Energy Scale-up project, being financed by $750m International Development Association credit and would leverage over $1bn of private capital and significant parallel financing from development partners.
The financing from development partners includes $100m from the Global Energy Alliance for People and Planet and $200m from the Japan International Cooperation Agency.
Other development partners collaborating on the programme include the United States Agency for International Development, the German Development Agency, SEforAll, and the African Development Bank.
But 10 months after its approval, the REA MD noted that the project would begin implementation next month without stating reasons for the delay.
He explained that three million anticipated beneficiaries would be connected through the isolated mini-grid, 1.5 million Nigerians through the inter-connected mini-grip, and 12 million would be electrified using a merged grid and solar stand-alone system.
Aliyu said, “There is a new project that we are starting next month called the Distributed Renewable Energy Scale-up project which is a $750 million financed by the World Bank.”
“The target of that project is to electrify 17.5 million Nigerians, and I must say that this is one of the most ambitious projects in the world based on my understanding from India that has moved many unelectrified people to have access to electricity.
“Three million of them through the isolated mini-grid, 1.5 million Nigerians through the interconnected mini grip, 12 million would be electrified using a merged grid and solar stand-alone system.”
Aliyu further said the project is estimated to last for five years and was built on successes recorded from similar projects in the past which cost $550 million and were funded by the World Bank and the African Development Bank.
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