President Bola Tinubu is set to sign four pivotal tax reform bills into law on Thursday, a development poised to significantly reshape Nigeria’s tax and revenue framework. This was confirmed in a statement released on Wednesday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, titled “President Tinubu signs four tax bills into […]

In recent years, the landscape of business taxation has become increasingly complex and unpredictable. That volatility has only intensified in 2025, as Congress considers sweeping tax reforms, global trade dynamics continue to evolve, and federal government restructuring efforts unfold. In this uncertain climate, many business leaders may feel inclined to delay decision-making until clarity emerges.

The Managing Director of UpdateAfrika Communications, Dr. Joseph Effiong, has credited Lagos State’s unprecedented revenue milestone—surpassing N1 trillion—to ongoing tax reforms and the successful implementation of a digitized tax system. Dr. Effiong commended the Lagos State Internal Revenue Service (LIRS), led by Executive Chairman Mr. Ayo Subair, for its strategic approach and innovative use of

ax fraud is a serious offense that occurs when individuals or entities intentionally falsify information to reduce their tax liability or obtain undue refunds. It ranges from submitting fake documents and underreporting income to participating in elaborate schemes that exploit loopholes or abuse the tax system. What Is Tax Fraud? Unlike honest mistakes or calculation