Ten Banks Contribute N987bn in Taxes to FG   Ten commercial banks in Nigeria paid a combined N987.40bn in corporate income tax to the Federal Government in the 2024 financial year. This sum was disclosed in the banks’ consolidated and separate financial statements for the year ended...

FG Rakes in N402.3bn Tax From Dangote   The Dangote Industries Limited, (Dangote Group), and its subsidiaries paid over N402 billion in taxes in 2024, making it the highest taxpayer in the country. Dangote’s Chief Branding and Communication Officer, Anthony Chiejina, who disclosed this yesterday in his...

NATCOMS to Petition National Assembly Over 5% Tax   The National Association of Telecoms Subscribers (NATCOMS) will write to the National Assembly over the Federal Government’s renewed push to impose a five per cent excise duty on telecommunications services. The group is set to meet this Wednesday...

AuG Uncovers N14bn Tax Irregularities in Over 30 MDAs A report by the Auditor-General of the Federation has unearthed tax irregularities amounting to N14.33bn across more than 30 Ministries, Departments, and Agencies. The findings, disclosed in the Auditor-General’s Annual Report on Non-Compliance and Internal Control Weaknesses,...

Why We Must Address Inherent Injustice in Present VAT Regime - FIRS Boss   The Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has described the allocation of 70% of value-added tax (VAT) proceeds to Lagos, Rivers, and the Federal Capital Territory (FCT)...

Tax Reform: NEC Recommends Withdrawal of Bills The National Economic Council (NEC) has recommended the withdrawal of the Tax reforms bill already at the National Assembly. The NEC headed by Vice-President Kashim Shettima has governors as members. Speaking to state House Correspondents after a NEC meeting, on...