Business

Tijjani Borodo Takes Over at IoD As President

Published

3 years ago

June 23, 2023

304 Views

Alhaji Tijjani Mohammed Borodo, has emerged as the President and Chairman of Governing Council of the Institute of Directors Nigeria (IoD Nigeria).

This followed the expiration of the tenure of Office of Dr. Mrs. Ije Jidenma, after she’d meritoriously served the Institute in the same capacity for two years.

The premier corporate governance Institute and a leading promoter of ethical professional standards in Nigeria, has elected Alhaji Tijjani Mohammed Borodo, LLM, F.IoD as President and Chairman of Governing Council,

In a statement, Mr. Dele Alimi, Director General/ Chief Executive Officer of IoD Nigeria said that Borodo to will steer the ship of the Institute and take charge of its affairs for the next two years.

“Alhaji Borodo emerged as President after a duly conducted election at the Institute’s 39th Annual General Meeting held on Thursday 22nd June 2023 at the Institute’s Secretariat, Ikoyi, Lagos,” he said.
He continued that Alhaji Borodo, a Fellow of the Institute of Directors Nigeria, a distinguished lawyer and the pioneer Company Secretary of FBN Holdings Plc., is an astute boardroom executive who has served the Institute previously in various capacities such as First Vice President, Second Vice President, Chairman, Finance & General-Purpose Committee, Chairman, Membership and Branch Development Committee and Honorary Legal Adviser among others.”

The Director -General added: “Indeed, we are very pleased as Alhaji Tijjani Borodo assumes the role of President of IoD Nigeria. As a previous office holder and Council Member of the Institute, he had brought his extensive knowledge and experience to bear and has provided inspirational leadership and direction for the success of the Institute.

His emergence as the President will enhance the Institute’s role as the leading corporate governance advocate, promoting sound ethical standards.”
Profile
Alhaji Tijjani Borodo, is the Founder and Principal Partner at Tijjani M. Borodo & Associates Law Firm and an accomplished Board Executive of repute.

He is a member of the Nigerian Bar Association, member of International Bar Association (IBA) and an Alumnus of the prestigious Ahmadu Bello University, Zaria and University of Essex, United Kingdom.

He is also an Independent Non-Executive Director at Cowry Asset Management Limited, Signature Bank Limited and Sanlam Life Insurance Nigeria Limited.

Business

NTA didn’t introduce VAT on charges collected by banks — NRS

The Nigeria Revenue Service (NRS) wishes to address and correct misleading narratives circulating in sections of the media suggesting that Value Added Tax (VAT) has been newly introduced on banking services, fees, commissions, or electronic money transfers.

Published

47 minutes ago

January 16, 2026

OCHEFA

4 Views

Photo: NRS chairman, Zacch Adedeji

The Nigeria Revenue Service (NRS) has clarified that the Nigeria Tax Act (NTA) did not introduce VAT on banking charges, nor did it impose any new tax obligation on customers in this regard.

In a statement made available to newsmen and signed by Dare Adekanmbi, Special Adviser on Media to the NRS chairman, Zacch Adedeji, the service said the claims are incorrect.

According to the NRS, VAT has always applied to banking services and was not introduced by the Nigeria Tax Act.

The statement reads:

“The Nigeria Revenue Service (NRS) wishes to address and correct misleading narratives circulating in sections of the media suggesting that Value Added Tax (VAT) has been newly introduced on banking services, fees, commissions, or electronic money transfers.

This claim is categorically incorrect.

“VAT has always applied to fees, commissions, and charges for services rendered by banks and other financial institutions under Nigeria’s long-established VAT regime.”

Business

LIRS gives employers Jan 31 deadline for filing 2025 tax returns

The Executive Chairman of LIRS, Dr Ayodele Subair, who gave the directive on Thursday, reminded employers that the obligation to file annual returns is in line with the provisions of the Nigeria Tax Administration Act 2025.

Published

2 hours ago

January 16, 2026

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6 Views

The Lagos State Internal Revenue Service(LIRS) fixed statutory deadline of January 31, 2026, for all employers of labour in the state to file their annual tax returns for the 2025 financial year.

Subair explained that employers are required to file detailed returns on emoluments and compensation paid to their employees, as well as payments made to service providers, vendors, and consultants, and to ensure that all applicable taxes due for the 2025 year are fully remitted.

He emphasised that the filing of annual returns is a mandatory legal obligation and warned that failure to comply would attract statutory sanctions, including administrative penalties, as prescribed under the new tax law.

Business

Nigeria To Review Inflation Reporting First Time In 15 years

The agency said the expected spike in December inflation did not reflect actual price movements in the economy but was largely a statistical distortion caused by the rebasing of the Consumer Price Index.

Published

1 day ago

January 15, 2026

OCHEFA

20 Views

Nigeria’s National Bureau of Statistics (NBS) has announced plans to revise its inflation reporting methodology.

This followed concerns that December’s year-on-year figure may be artificially inflated due to the impact of last year’s rebasing exercise.

Reuters reported that the rebasing, the first in 15 years, adopted December 2024 as the index reference point.

Officials explained that the change is likely to exaggerate the year-on-year inflation figure for December without accurately capturing prevailing market trends.