President and Chairman of Council at the Chartered Institute of Taxation of Nigeria, CITN, Mr. Samuel Agbeluyi, has disclosed that the proposed taxation bill has all it takes to change the country’s fortune up to three times of what it currently receives as tax. Speaking at the grand finale of the 2025 tax school debate […]

IN an unprecedented legal showdown, the Nigerian government has sued global cryptocurrency exchange Binance, demanding $81.5 billion in damages and unpaid taxes. The lawsuit claims that Binance’s activities in Nigeria have caused significant economic harm and accuses the company of evading taxes on its local earnings. This marks a bold step in Nigeria’s effort to

The Economic and Financial Crimes Commission (EFCC) and the Corporate Affairs Commission (CAC) have pledged to enhance their collaboration in the fight against corruption to promote economic growth. The Economic and Financial Crimes Commission (EFCC) and the Corporate Affairs Commission (CAC) have pledged to enhance their collaboration in the fight against corruption to promote economic

National Assembly on Thursday passed the N54.9 trillion 2025 Appropriation Bill. AljazirahNigeria reports that President Bola Tinubu had on February 5 sent a letter to the Senate and the House of Representatives to increase the budget from an initial proposal of N49.7trn. The passage of the 2025 budget yesterday followed the adoption of the report

The President, Institute of Chartered Accountants of Nigeria (ICAN), Davidson Alaribe, on Tuesday, inaugurated a chapter of the body for the Federal Inland Revenue Service (FIRS), charging officers of the chapter to continue to uphold high ethical standards associated with the profession. Alaribe, while speaking at the ceremony in Abuja, said the significance of the

The Lagos State Internal Revenue Service (LIRS) has reaffirmed that the West African Examinations Council (WAEC) registration for Senior Secondary 3 (SS3) students in state-funded secondary schools remains free as part of the government’s education policy. Obtaining a tax clearance certificate (TCC) is, however, a prerequisite for accessing the benefit, in line with existing laws,

Value Added Tax (VAT) collection soared to N6.72 trillion in 2024, up 84.62 per cent year-on-year (YoY) on the total N3.64 trillion for 2023, according to the latest figures released by the Federal Inland Revenue Service (FIRS). Data presented at an FIRS management retreat by Amina Ado, Large Taxpayers Group Coordinating Director, shows remarkable growth

The partnership is in line with the mandate of the FCT-IRS to collaborate with relevant agencies such as the EFCC towards improving tax compliance in the FCT. The Federal Capital Territory Internal Revenue Service (FCT-IRS) has sought collaboration with the Economic and Financial Crimes Commission (EFCC) to enhance tax compliance in the territory. The acting

Governors of the South-South geo-political zone have thrown their weight behind the proposed tax reforms initiated by President Bola Tinubu. In a communique issued at the end of the meeting in Yenagoa, Bayelsa State, the governors expressed support for the tax reforms of the President Bola Tinubu administration. The communique, read by the Bayelsa governor,

Governors of the South-South geo-political zone on Tuesday in Yenagoa unanimously picked the governor of Bayelsa State, Senator Douye Diri, as chairman of the South-South Governors’ Forum. Governor of Cross River State, Senator Bassey Otu, emerged as vice chairman of the forum, according to a statement by Diri’s Chief Press Secretary, Mr Daniel Alabrah. Governor