Trending News: NIGERIA LOSES 855,629 METRIC TONNES OF FOOD TO FLOODS IN 2024 – FAONOBODY IS WORKING FOR THIS GREAT COUNTRY – JOE IGBOKWE LAMENTSHOW FG PACIFIED LABOUR WITH PROMISES TO COMPLETE FIVE REFINERIES, PAY ARREARSNLC REJECTS COURT RULING ON ABURE LEADERSHIP OF LABOUR LEADERSMINIMUM WAGE UPDATE: STATES PAYING N70, OOO AND ABOVELP CRISIS: INEC RECOGNISES ABURE FACTION AFTER COURT JUDGEMENTPDP IN CRISIS BECAUSE SUPREME COURT ALLOWED WARD CHAIRMAN TO SUSPEND NATIONAL CHAIRMAN – JONATHANMY N14M MONTHLY EARNING NOT ENOUGH – ORJI UZOR KALU73% OF ABIA RESIDENTS DRINK WATER CONTAMINATED WITH FAECES – STUDYHOW MANY AFRICAN COUNTRIES HAS WORLD BANK TAKEN TO PROMISED LAND? – SHEHU SANIYOUR REFORMS NOT WORKING, BAUCHI GOVERNOR TELLS TINUBUFG DECLARES END OF FUEL, FOREIGN EXCHANGE SUBSIDIESSENATE PASSES VOTE OF CONFIDENCE ON AKPABIOWHY NIGERIAN GOVT REFUSED TO RELEASE NNAMDI KANU – IPOBLAWYER FAULTS AGBAKOBA ON LEGAL STATUS OF EFCC, SAYS POSITION BASED ON LEGAL SOPHISTRYRIVERS CRISIS: AS FAR AS LAW IS CONCERNED, STATUS OF THE BUDGET IS NULLITY – SANNIGERIANS NOT FEELING TINUBU, SHETTIMA’S ABSENCE – AISHA YESUFUPRO-WIKE LAWMAKERS WRITE INEC, SEEK REPLACEMENT OF PRO-FUBARA LAWMAKERSLONGEST LIVED AMERICAN PRESIDENT IN HISTORY, JIMMY CARTER, VOTES FOR KAMALA HARRIS IN US PRESIDENTIAL ELECTIONEX-NBA PRESIDENT, AGBAKOBA, WRITES NASS, SAYS EFCC ACT UNCONSTITUTIONALEFCC VS THE CONSTITUTION: WAITING FOR SUPREME COURTCATEGORIES OF PEOPLE WHO WILL SUFFER IF TRUMP WINS AMERICAN PRESIDENTIAL ELECTION – SHEHU SANIHUNGER NOW FAMILY MEMBER OF MANY NIGERIAN HOUSEHOLDS – PETER OBI KNOCKS TINUBU GOVTSON OF EX-ENUGU ASSEMBLY DEPUTY SPEAKER ARRESTED FOR ALLEGEDLY SUPPLYING GUNS TO KIDNAPPERSFLOOD TAKE OVER SAHARA DESERT AFTER HEAVY RAINFALL, FIRST IN DECADESPRESSURE MOUNTS ON SUPREME COURT AS 16 GOVERNORS SUE EFCCLAGOS TO PAY N85,000 AS MINIMUM WAGEPOWER VACUUM: PRESIDENT, VICE PRESIDENT OUT OF NIGERIATINUBU GOVT PLANS N25% TAX ON WEALTHY NIGERIANS EARNING N100M MONTHLYIT’S FAKE NEWS, THERE’S NO PLOT TO IMPEACH ME – AKPABIOPOLICE CLARIFY ROLE IN RIVERS LG ELECTIONWIKE MAY FACE DISCIPLINARY ACTION FOR VIOLATING PDP RULESNAIRA ONE OF THE WORST PERFORMING CURRENCIES IN AFRICA – WORLD BANKNIGERIA’S CHIEF OF ARMY STAFF, LAGBAJA , SICK, FLOWN ABROAD FOR TREATMENT – SAHARAREPORTERSWORLD BANK TELLS TINUBU GOVT TO CONTINUE WITH ECONOMIC POLICY DESPITE RISING HARDSHIPTRAVELLERS HAIL PETER OBI, CALL HIM “OUR PRESIDENT” AS HE CLEARS TRAFFIC IN KOGICONSTITUENTS MOVE TO RECALL HOUSE OF REPS MEMBER, UGOCHINYERE, LAUD GOV UZODINMADAMAGUM MAY STEP DOWN NEXT WEEKPDP CRISIS RESOLVED WITH SUSPENSIONS, COUNTER SUSPENSION QUASHEDSOLUDO REJECTS LG AUTONOMY, SAYS IT WILL LEAD TO CHAOS, SIGNS BILL TO DEDUCT COUNCIL FUNDSWHY WE INVADED RADIO STATION TO ARREST SUSPECT – EFCCNUJ CONDEMNS EFCC INVASION OF RADIO STATIONENUGU GOVT TO LAUGH N20B STATE SECURITY TRUST FUNDGRID COLLAPSE, A NATIONAL SHAME, TESTAMENT OF LEADERSHIP FAILURE – PETER OBIPRO-WIKE LAWMAKERS DECLARE PRO-FUBARA LAWMAKERS’ SEATS VACANTFG SUMMONS BRITISH HIGH COMMISSIONER OVER SUNDAY IGBOHO’S YORUBA NATION PETITION TO PRIME MINISTERAFCON QUALIFIER: CAF DELISTS NIGERIA, LIBYAEFCC INVADES RADIO STATION IN ENUGU, ARRESTS PRESENTERPDP CRISIS: GOVERNORS TELL WARRING MEMBERS TO MAINTAIN STATUS QUODAMAGUM DIVIDES PDP GOVERNORSPDP BREAKS INTO FACTIONSWE SYMPATHISE WITH THE POOR BUT TINUBU’S POLICIES WILL CONTINUE – VP SHETTIMANORTH MUST BE PREPARED FOR POSSIBLE SEPARATION – PROF LUGGACAF INVESTIGATES SUPER EAGLES ORDEAL IN LIBYANIGERIA WAS NOT HUMILIATED AT UNHRC ELECTION – PRESIDENCYNIGERIA IN DARKNESS AS NATIONAL GRID COLLAPSES AGAINMOB BURNS EDO POLICE STATION OVER ALLEGATION OF ORGAN HARVESTINGSUPER EAGLES BACK TO NIGERIA AFTER LIBYA ORDEALFG TO RECRUIT 74,OOO TEACHERS NATIONWIDENIGERIANS GROAN OVER HIGH ELECTRICITY BILLSFG MOVES TO GROUND 60 PRIVATE JETSALLOW THE DEAD TO REST IN PEACE, SHEHU SANI SPEAKS ON ENUGU MORTUARY TAXPDP BLASTS FUBARA, SAYS HE REJECTED OFFER TO CONTROL PARTY STRUCTUREPETER OBI CONDEMNS FATAL SHOOTING OF SUPERSPORTS CREW, SAYS KILLINGS KIDNAPPINGS HAVE BECOME WORSENASS WANTS MORE SUFFERINGS FOR NIGERIANS, CONSIDERS BILL TO INCREASE VAT FROM 7.5% TO 10%ENUGU GOVT PLANS TO RESETTLE RESIDENTS OF TWO URBAN SLUMSBIZZARE! REVEREND FATHER SET TO WED REVEREND SISTER IN CATHOLIC CHURCHSENATE THREATENS UMAHI, DABRI-EREWA, OTHERS WITH WARRANT OF ARRESTGOVERNOR SUSPENDS AID FOR ANNOYING N70,OOO MINIMUM WAGENINE PDP GOVERNORS ENDORSE DAMAGUM’S REMOVAL AS NATIONAL CHAIRMANBETWEEN SENATOR SHEHU SANI AND EX-GOV EL RUFAI’S WIFEYOU’RE BEREFT OF IDEAS ABOUT HOW TO TACKLE ECONOMIC CRISIS, BEG JONATHAN FOR HELP – NNPP TELLS TINUBUWHY MORTUARY TAX WAS INTRODUCED – ENUGU GOVTNIGERIA FACING WORSENING FOOD CRISIS LIKE YEMEN, ETHIOPIA – WORLD BANK REPORTFLASHBACK: HOW TINUBU CRITICISED JONATHAN OVER PETROL SUBSIDY REMOVALINSIDE STORY OF ONGOING CRISIS IN PDPHOUSE OF REPS PASSES BILL TO ESTABLISH BOLA AHMED TINUBU UNIVERSITY OF NIGERIAN LANGUAGESRIVERS CRISIS: I DO NOT SEE THE POSSIBILITY OF APPEAL COURT JUDGEMENT BEING UPTURNED – SANFOR AND AGAINST REGIONAL GOVTDRAMA AS FAYOSE DECLARES SELF PDP NATIONAL CHAIRMAN, SUSPENDS WIKE, ATIKU, OTHERSENUGU GOVT WITHDRAWS MONARCH’S RECOGNITION OVER LAWYER’S MURDERFCT MINISTER, NYESON WIKE, BAUCHI GOVERNOR, BALA MOHAMMED, DIVIDE PDPNEW EDUCATION CURRICULUM: EVERY STUDENT MUST GRADUATE WITH TWO SKILLSFUBARA’S REFUSAL TO OBEY COURT JUDGEMENT CAUSE OF RIVERS VIOLENCE – INDEPENDENT OBSERVERSPDP CRISIS: GOVERNORS BACK EMBATTLED NATIONAL CHAIRMAN, DAMAGUNAPC BERATES ROTIMI AMAECHI, SAYS HE’S INVITING ANARCHY IN NIGERIASOWORE, FORMER PRESIDENTIAL CANDIDATE, BARRED FROM LEAVING NIGERIA BY IMMIGRATION SERVICEAPC SUSPENDS TINUBU’S MINISTER, OTHERSCOURT BARS PDP NEC, BOT FROM SACKING DAMAGUM AS ACTING NATIONAL CHAIRMANFG ANNOUNCES FULL DEREGULATION OF PETROLEUM INDUSTRYCHIEF JUDGE REJECTS NYAKO’S RECUSAL FROM NNAMDI KANU’S CASE, RETURNS CASE FILEMY HUSBAND NOT CAUSE OF NIGERIA’S PROBLEM – TINUBU’S WIFERECENT LOCAL GOVT ELECTIONS IN STATES ACROSS NIGERIA, A SHAM, RAPE OF DEMOCRACY – SENATECHIDINMA ADETSHINA NAMED ENUGU STATE BRAND AMBASSADORPDP CRISIS WORSENS AS FACTIONS SUSPEND EACH OTHERNCC COMPLETES NIN-SIM LINKAGE FOR ALL PHONE NUMBERSWHY I PREFER TRADITIONAL WORSHIP TO CHRISTIANITY, ISLAM – SOYINKAWTO SELECTS UNN, OTHERS FOR TRADE RESEARCH PROGRAMMEYOU DON’T HAVE CAPACITY TO BRING DOWN MILITARY AIRCRAFT – DHQ TELLS DOKUBONO FOOD FOR LAZY MAN – TINUBU’S WIFE TELLS NIGERIAN YOUTHS TO WORK HARD
Fri. Oct 18th, 2024
Trending News: NIGERIA LOSES 855,629 METRIC TONNES OF FOOD TO FLOODS IN 2024 – FAONOBODY IS WORKING FOR THIS GREAT COUNTRY – JOE IGBOKWE LAMENTSHOW FG PACIFIED LABOUR WITH PROMISES TO COMPLETE FIVE REFINERIES, PAY ARREARSNLC REJECTS COURT RULING ON ABURE LEADERSHIP OF LABOUR LEADERSMINIMUM WAGE UPDATE: STATES PAYING N70, OOO AND ABOVELP CRISIS: INEC RECOGNISES ABURE FACTION AFTER COURT JUDGEMENTPDP IN CRISIS BECAUSE SUPREME COURT ALLOWED WARD CHAIRMAN TO SUSPEND NATIONAL CHAIRMAN – JONATHANMY N14M MONTHLY EARNING NOT ENOUGH – ORJI UZOR KALU73% OF ABIA RESIDENTS DRINK WATER CONTAMINATED WITH FAECES – STUDYHOW MANY AFRICAN COUNTRIES HAS WORLD BANK TAKEN TO PROMISED LAND? – SHEHU SANIYOUR REFORMS NOT WORKING, BAUCHI GOVERNOR TELLS TINUBUFG DECLARES END OF FUEL, FOREIGN EXCHANGE SUBSIDIESSENATE PASSES VOTE OF CONFIDENCE ON AKPABIOWHY NIGERIAN GOVT REFUSED TO RELEASE NNAMDI KANU – IPOBLAWYER FAULTS AGBAKOBA ON LEGAL STATUS OF EFCC, SAYS POSITION BASED ON LEGAL SOPHISTRYRIVERS CRISIS: AS FAR AS LAW IS CONCERNED, STATUS OF THE BUDGET IS NULLITY – SANNIGERIANS NOT FEELING TINUBU, SHETTIMA’S ABSENCE – AISHA YESUFUPRO-WIKE LAWMAKERS WRITE INEC, SEEK REPLACEMENT OF PRO-FUBARA LAWMAKERSLONGEST LIVED AMERICAN PRESIDENT IN HISTORY, JIMMY CARTER, VOTES FOR KAMALA HARRIS IN US PRESIDENTIAL ELECTIONEX-NBA PRESIDENT, AGBAKOBA, WRITES NASS, SAYS EFCC ACT UNCONSTITUTIONALEFCC VS THE CONSTITUTION: WAITING FOR SUPREME COURTCATEGORIES OF PEOPLE WHO WILL SUFFER IF TRUMP WINS AMERICAN PRESIDENTIAL ELECTION – SHEHU SANIHUNGER NOW FAMILY MEMBER OF MANY NIGERIAN HOUSEHOLDS – PETER OBI KNOCKS TINUBU GOVTSON OF EX-ENUGU ASSEMBLY DEPUTY SPEAKER ARRESTED FOR ALLEGEDLY SUPPLYING GUNS TO KIDNAPPERSFLOOD TAKE OVER SAHARA DESERT AFTER HEAVY RAINFALL, FIRST IN DECADESPRESSURE MOUNTS ON SUPREME COURT AS 16 GOVERNORS SUE EFCCLAGOS TO PAY N85,000 AS MINIMUM WAGEPOWER VACUUM: PRESIDENT, VICE PRESIDENT OUT OF NIGERIATINUBU GOVT PLANS N25% TAX ON WEALTHY NIGERIANS EARNING N100M MONTHLYIT’S FAKE NEWS, THERE’S NO PLOT TO IMPEACH ME – AKPABIOPOLICE CLARIFY ROLE IN RIVERS LG ELECTIONWIKE MAY FACE DISCIPLINARY ACTION FOR VIOLATING PDP RULESNAIRA ONE OF THE WORST PERFORMING CURRENCIES IN AFRICA – WORLD BANKNIGERIA’S CHIEF OF ARMY STAFF, LAGBAJA , SICK, FLOWN ABROAD FOR TREATMENT – SAHARAREPORTERSWORLD BANK TELLS TINUBU GOVT TO CONTINUE WITH ECONOMIC POLICY DESPITE RISING HARDSHIPTRAVELLERS HAIL PETER OBI, CALL HIM “OUR PRESIDENT” AS HE CLEARS TRAFFIC IN KOGICONSTITUENTS MOVE TO RECALL HOUSE OF REPS MEMBER, UGOCHINYERE, LAUD GOV UZODINMADAMAGUM MAY STEP DOWN NEXT WEEKPDP CRISIS RESOLVED WITH SUSPENSIONS, COUNTER SUSPENSION QUASHEDSOLUDO REJECTS LG AUTONOMY, SAYS IT WILL LEAD TO CHAOS, SIGNS BILL TO DEDUCT COUNCIL FUNDSWHY WE INVADED RADIO STATION TO ARREST SUSPECT – EFCCNUJ CONDEMNS EFCC INVASION OF RADIO STATIONENUGU GOVT TO LAUGH N20B STATE SECURITY TRUST FUNDGRID COLLAPSE, A NATIONAL SHAME, TESTAMENT OF LEADERSHIP FAILURE – PETER OBIPRO-WIKE LAWMAKERS DECLARE PRO-FUBARA LAWMAKERS’ SEATS VACANTFG SUMMONS BRITISH HIGH COMMISSIONER OVER SUNDAY IGBOHO’S YORUBA NATION PETITION TO PRIME MINISTERAFCON QUALIFIER: CAF DELISTS NIGERIA, LIBYAEFCC INVADES RADIO STATION IN ENUGU, ARRESTS PRESENTERPDP CRISIS: GOVERNORS TELL WARRING MEMBERS TO MAINTAIN STATUS QUODAMAGUM DIVIDES PDP GOVERNORSPDP BREAKS INTO FACTIONSWE SYMPATHISE WITH THE POOR BUT TINUBU’S POLICIES WILL CONTINUE – VP SHETTIMANORTH MUST BE PREPARED FOR POSSIBLE SEPARATION – PROF LUGGACAF INVESTIGATES SUPER EAGLES ORDEAL IN LIBYANIGERIA WAS NOT HUMILIATED AT UNHRC ELECTION – PRESIDENCYNIGERIA IN DARKNESS AS NATIONAL GRID COLLAPSES AGAINMOB BURNS EDO POLICE STATION OVER ALLEGATION OF ORGAN HARVESTINGSUPER EAGLES BACK TO NIGERIA AFTER LIBYA ORDEALFG TO RECRUIT 74,OOO TEACHERS NATIONWIDENIGERIANS GROAN OVER HIGH ELECTRICITY BILLSFG MOVES TO GROUND 60 PRIVATE JETSALLOW THE DEAD TO REST IN PEACE, SHEHU SANI SPEAKS ON ENUGU MORTUARY TAXPDP BLASTS FUBARA, SAYS HE REJECTED OFFER TO CONTROL PARTY STRUCTUREPETER OBI CONDEMNS FATAL SHOOTING OF SUPERSPORTS CREW, SAYS KILLINGS KIDNAPPINGS HAVE BECOME WORSENASS WANTS MORE SUFFERINGS FOR NIGERIANS, CONSIDERS BILL TO INCREASE VAT FROM 7.5% TO 10%ENUGU GOVT PLANS TO RESETTLE RESIDENTS OF TWO URBAN SLUMSBIZZARE! REVEREND FATHER SET TO WED REVEREND SISTER IN CATHOLIC CHURCHSENATE THREATENS UMAHI, DABRI-EREWA, OTHERS WITH WARRANT OF ARRESTGOVERNOR SUSPENDS AID FOR ANNOYING N70,OOO MINIMUM WAGENINE PDP GOVERNORS ENDORSE DAMAGUM’S REMOVAL AS NATIONAL CHAIRMANBETWEEN SENATOR SHEHU SANI AND EX-GOV EL RUFAI’S WIFEYOU’RE BEREFT OF IDEAS ABOUT HOW TO TACKLE ECONOMIC CRISIS, BEG JONATHAN FOR HELP – NNPP TELLS TINUBUWHY MORTUARY TAX WAS INTRODUCED – ENUGU GOVTNIGERIA FACING WORSENING FOOD CRISIS LIKE YEMEN, ETHIOPIA – WORLD BANK REPORTFLASHBACK: HOW TINUBU CRITICISED JONATHAN OVER PETROL SUBSIDY REMOVALINSIDE STORY OF ONGOING CRISIS IN PDPHOUSE OF REPS PASSES BILL TO ESTABLISH BOLA AHMED TINUBU UNIVERSITY OF NIGERIAN LANGUAGESRIVERS CRISIS: I DO NOT SEE THE POSSIBILITY OF APPEAL COURT JUDGEMENT BEING UPTURNED – SANFOR AND AGAINST REGIONAL GOVTDRAMA AS FAYOSE DECLARES SELF PDP NATIONAL CHAIRMAN, SUSPENDS WIKE, ATIKU, OTHERSENUGU GOVT WITHDRAWS MONARCH’S RECOGNITION OVER LAWYER’S MURDERFCT MINISTER, NYESON WIKE, BAUCHI GOVERNOR, BALA MOHAMMED, DIVIDE PDPNEW EDUCATION CURRICULUM: EVERY STUDENT MUST GRADUATE WITH TWO SKILLSFUBARA’S REFUSAL TO OBEY COURT JUDGEMENT CAUSE OF RIVERS VIOLENCE – INDEPENDENT OBSERVERSPDP CRISIS: GOVERNORS BACK EMBATTLED NATIONAL CHAIRMAN, DAMAGUNAPC BERATES ROTIMI AMAECHI, SAYS HE’S INVITING ANARCHY IN NIGERIASOWORE, FORMER PRESIDENTIAL CANDIDATE, BARRED FROM LEAVING NIGERIA BY IMMIGRATION SERVICEAPC SUSPENDS TINUBU’S MINISTER, OTHERSCOURT BARS PDP NEC, BOT FROM SACKING DAMAGUM AS ACTING NATIONAL CHAIRMANFG ANNOUNCES FULL DEREGULATION OF PETROLEUM INDUSTRYCHIEF JUDGE REJECTS NYAKO’S RECUSAL FROM NNAMDI KANU’S CASE, RETURNS CASE FILEMY HUSBAND NOT CAUSE OF NIGERIA’S PROBLEM – TINUBU’S WIFERECENT LOCAL GOVT ELECTIONS IN STATES ACROSS NIGERIA, A SHAM, RAPE OF DEMOCRACY – SENATECHIDINMA ADETSHINA NAMED ENUGU STATE BRAND AMBASSADORPDP CRISIS WORSENS AS FACTIONS SUSPEND EACH OTHERNCC COMPLETES NIN-SIM LINKAGE FOR ALL PHONE NUMBERSWHY I PREFER TRADITIONAL WORSHIP TO CHRISTIANITY, ISLAM – SOYINKAWTO SELECTS UNN, OTHERS FOR TRADE RESEARCH PROGRAMMEYOU DON’T HAVE CAPACITY TO BRING DOWN MILITARY AIRCRAFT – DHQ TELLS DOKUBONO FOOD FOR LAZY MAN – TINUBU’S WIFE TELLS NIGERIAN YOUTHS TO WORK HARD
Fri. Oct 18th, 2024

CYBERSECURITY LEVY NOT FOR INDIVIDUALS – FALANA

download 46 1

CYBERSECURITY LEVY NOT FOR INDIVIDUALS – FALANA

Senior lawyer Femi Falana, SAN, has said that the recently imposed 0.5 per cent cybersecurity levy is not meant for individuals.

Falana made this known in a statement on Thursday, saying the circular of the Central Bank of Nigeria, CBN, wrongly interpreted the provisions of the Cybercrime (Prohibition, Prevention, etc.) Amendment Act 2024.

“The CBN should also apologise to Nigerians for the misleading interpretation of the clear and unambiguous provisions of the Cybercrime (Prohibition, Prevention, etc.) Amendment Act 2024,” he said.

The federal government had announced a levy of 0.5 per cent on the value of all electronic transactions.

According to the announcement, the levy was to be remitted to the National Cybersecurity Fund, overseen by the Office of the National Security Adviser, NSA.

Falana said even though the said levy is payable by the businesses listed in the second schedule to the principal Act, the CBN wrongly directed all financial institutions to apply the levy at the point of electronic transfer origination.“The erroneous interpretation might have arisen from the substitution of ‘businesses’ for ‘business’ in the amendment. For the avoidance of doubt, by virtue of Section 42(a) of the Cybercrime Act 2025 as amended, the businesses which are required to pay the levy are GSM service providers and all telecommunications companies; Internet service providers; banks and other financial institutions; insurance companies; and the Nigerian Stock Exchange,” Falana said.

    • Dons Eze

    DONS EZE, PhD, Political Philosopher and Journalist of over four decades standing, worked in several newspaper houses across the country, and rose to the positions of Editor and General Manager. A UNESCO Fellow in Journalism, Dr. Dons Eze, a prolific writer and author of many books, attended several courses on Journalism and Communication in both Nigeria and overseas, including a Postgraduate Course on Journalism at Warsaw, Poland; Strategic Communication and Practical Communication Approach at RIPA International, London, the United Kingdom, among others.

    Related Posts

    FG DECLARES END OF FUEL, FOREIGN EXCHANGE SUBSIDIES

    FG DECLARES END OF FUEL, FOREIGN EXCHANGE SUBSIDIES The federal government has officially ended fuel and foreign exchange subsidies, Minister of Finance and Coordinating Minister of the Economy Wale Edun revealed on Thursday. The minister made the announcement during the presentation of the Nigeria Development Update by the World Bank in Abuja. The subsidies, the government said drained the country’s economy to the tune of N10 trillion, equivalent to five percent of Nigeria’s Gross Domestic Product (GDP). “Fuel and FX subsidy are extinguished,” Edun declared. To address the pressing issue of unemployment, the government has unveiled a new plan focused on housing finance. This initiative features a mortgage scheme offering near single-digit interest rates, aimed at boosting construction activities and generating significant job creation. “The plan will be anchored around mortgage and housing financing,” Edun stated. At the same event, Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso, shed light on the recent half-percent interest rate hike. He said the Monetary Policy Committee (MPC) had anticipated the latest inflation trends, prompting the decision to increase the rate. “Policies and decisions will be based on evidence and data going forward,” Cardoso said.

    Continue reading
    TINUBU GOVT PLANS N25% TAX ON WEALTHY NIGERIANS EARNING N100M MONTHLY

    TINUBU GOVT PLANS 25% TAX ON WEALTHY NIGERIANS EARNING N100M MONTHLY The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said that 90 percent of those paying tax are those who should not be paying in the first place. He made this declaration at the 30th Nigeria Economic Summit organised by the Nigerian Economic Summit Group and the Ministry of Budget and National Planning on Monday in Abuja. “People will pay tax once we decide that they have to pay. What we realise is that almost 90 per cent of people who are paying taxes are those who should not have been paying in the first place,” According to him 97 percent of those in the informal sector should be formally exempted from tax. “So that’s where we came up with the data that 97 per cent of the informal sector should be formally exempted from taxes. People do not understand where we are coming from. They’re not the ones to pay taxes. They’re just trying to survive.” He further revealed the plan of the government to tax wealthy Nigerians more. “Wealthy Nigerians earning N100million and above monthly will face a 25 per cent personal income tax rate if a new tax bill is passed by the National Assembly.” He stressed that there is a need to strike a balance by ensuring that wealthy Nigerians contribute more to the government’s revenue. “If you earn N100m a month, we are taking up to 25 per cent from the rich people. That’s because we need to balance the books,” Oyedele noted. For middle-income earners making N1.5m or less per month, Oyedele disclosed that their personal income tax obligations would decrease while those earning higher amounts would see incremental increases in their tax rates, eventually reaching 25 percent. Lower-income earners would be fully exempt from personal income tax. There have been discussions about new tax policies by the government especially with moves to multiple taxation for businesses. He added that the proposed changes are expected to take effect from January 2025, based on the passage of the bill by lawmakers.

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Food

    NIGERIA LOSES 855,629 METRIC TONNES OF FOOD TO FLOODS IN 2024 – FAO
    Politics

    NOBODY IS WORKING FOR THIS GREAT COUNTRY – JOE IGBOKWE LAMENTS
    Politics

    HOW FG PACIFIED LABOUR WITH PROMISES TO COMPLETE FIVE REFINERIES, PAY ARREARS
    Politics

    NLC REJECTS COURT RULING ON ABURE LEADERSHIP OF LABOUR LEADERS
    News

    MINIMUM WAGE UPDATE: STATES PAYING N70, OOO AND ABOVE
    Politics

    LP CRISIS: INEC RECOGNISES ABURE FACTION AFTER COURT JUDGEMENT

    DISCLAIMER - TERMS AND CONDITIONS - PRIVACY POLICY