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President Tinubu signs four TAX Bills into Law Tomorrow

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President Bola Tinubu will, on Thursday, sign into law four groundbreaking tax reform bills that will transform Nigeria’s fiscal and revenue framework.

According to the press release signed by Bayo Onanuga, Special Adviser to the President (Information and Strategy) the four bills, the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, were passed by the National Assembly after extensive consultations with various interest groups and stakeholders.

When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments.

The historic presidential assent to the bills at the Presidential Villa, Abuja, will be witnessed by the Senate President, Speaker of the House of Representatives, Senate Majority Leader, House Majority Leader, chairman of the Senate Committee on Finance, and his House counterpart.

The Chairman of the Governors Forum, the Chairman of the Progressives Governors Forum, the Minister of Finance and Coordination Minister of the Economy, and the Attorney General of the Federation will also attend the ceremony.

One of the four bills is the Nigeria Tax Bill (Ease of Doing Business), which aims to consolidate Nigeria’s fragmented tax laws into a harmonised statute.

By reducing the multiplicity of taxes and eliminating duplication, the bill will enhance the ease of doing business, reduce taxpayer compliance burdens, and create a more predictable fiscal environment.

The second bill, the Nigeria Tax Administration Bill, will establish a uniform legal and operational framework for tax administration across federal, state, and local governments.

The Nigeria Revenue Service (Establishment) Bill, the third bill, repeals the current Federal Inland Revenue Service Act and creates a more autonomous and performance-driven national revenue agency— the Nigeria Revenue Service (NRS).

It defines the NRS’s expanded mandate, including non-tax revenue collection, and lays out transparency, accountability, and efficiency mechanisms.

The fourth bill is the Joint Revenue Board (Establishment) Bill. It provides for a formal governance structure to facilitate cooperation between revenue authorities at all levels of government.

It introduces essential oversight mechanisms, including establishing a Tax Appeal Tribunal and an Office of the Tax Ombudsman.

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Insecurity: NSCIA fumes “Enough is Enough” over attacks on Islam and Muslims in Nigeria

The warning was contained in a statement by the NSCIA’s Public Affairs Officer, Abbas Jimoh, on behalf of the council led by its President-General and Sultan of Sokoto, His Eminence Alhaji Muhammad Sa’ad Abubakar.

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Photo: Sultan of Sokoto Muhammad Sa’ad Abubakar III

The umbrella body of Muslims community in Nigeria (Nigerian Supreme Council for Islamic Affairs (NSCIA) has warned the Federal Government and security agencies to act before Muslims ‘run out of patience’.

According to the NSCIA,the community’s continued restraint amid what it described as persistent attacks, profiling and marginalisation should not be mistaken for weakness.

The warning was contained in a statement by the NSCIA’s Public Affairs Officer, Abbas Jimoh, on behalf of the council led by its President-General and Sultan of Sokoto, His Eminence Alhaji Muhammad Sa’ad Abubakar.

The NSCIA also called on the government to ensure that those responsible for what it described as heinous crimes in Kaduna and Benue states were brought to justice without delay.

“While the NSCIA continues to appeal to Muslims for continuous restraint, it is imperative that government and security agencies should act decisively before the Muslims run out of patience in the light of persistent attacks and unbridled marginalization,” the council said.

The council urged the authorities to rein in what it described as persistent attacks on Islam and Muslims in public spaces, saying that was essential to preserving peace and national cohesion.

“The barrage of open assaults on the integrity of Islam and the Muslims in public spaces should be checked in the interest of peace and order. Enough is enough,” the statement added.

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NYSC to be headed by civilians under new reforms

To give legal backing to the reforms, the Federal Executive Council directed the Attorney-General of the Federation, in collaboration with the Ministry of Youth Development, to amend the NYSC Act and its regulations to facilitate the immediate implementation of the approved changes.

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The Federal Government has approved sweeping reforms to the National Youth Service Corps, NYSC, announcing that the scheme will now be headed by a civilian instead of a military officer.

The approval was announced to State House correspondents after the FEC meeting presided over by President Bola Tinubu at the Presidential Villa, Abuja.

To give legal backing to the reforms, the Federal Executive Council directed the Attorney-General of the Federation, in collaboration with the Ministry of Youth Development, to amend the NYSC Act and its regulations to facilitate the immediate implementation of the approved changes.

The Minister of Youth Development, Ayodele Olawande, said that the reforms would also introduce professional training programmes for corps members to enhance their employability and entrepreneurial skills.

He explained that the NYSC would retain its one-year service duration while incorporating flexible, skills-based training programmes into the service year.

Under the new framework, he said, the scheme would remain civilian-led, while the Nigerian military would continue to be responsible for the security of corps members nationwide.

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16-Year-Old Osasere Okundaye Becomes Nigeria’s Youngest Chartered Accountant

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In a remarkable feat that has captured national attention, 16-year-old student Osasere Okundaye has emerged as Nigeria’s youngest chartered accountant, shattering the previous record set in 2022.

Okundaye successfully completed the professional examinations of the Institute of Chartered Accountants of Nigeria (ICAN), earning widespread acclaim as a shining example of youthful excellence and determination. Her achievement comes at an age when many peers are still navigating secondary education or early university studies.

Minister of Youth Development Ayodele Olawande congratulated the young prodigy, describing her accomplishment as an inspiring milestone. “I heartily congratulate Miss Osasere Okundaye on her outstanding achievement of becoming Nigeria’s youngest Chartered Accountant at just 16 years of age,” the minister said, highlighting her hard work and resilience as a symbol of the potential within Nigerian youth.

Okundaye’s success surpasses the record previously held by Jonathan Adewale (also known as Ojo Jonathan Adewale), who qualified as a chartered accountant at age 17 in 2022. Her qualification has sparked pride across the country and renewed focus on empowering young Nigerians in professional fields.

While full ICAN membership typically requires additional practical experience (usually three years), Okundaye’s completion of the rigorous exams marks a historic breakthrough. Details about her educational background and the journey to this achievement are still emerging, but her story is already motivating aspiring accountants and students nationwide.

This milestone underscores the growing narrative of exceptional young talent driving Nigeria forward in various sectors. Congratulations poured in from across social media and media outlets, celebrating Okundaye as a beacon of hope for the nation’s future.

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