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TAX RIGHTS AND TAX OBLIGATIONS: TWO SIDES OF THE SAME COIN

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FIRS

It is common knowledge that taxation plays a vital role in the economic development of every country whether developed, developing or under developed, and Nigeria is no exception. Government at all levels depends on the tax it collects to run the affairs of the State and it is the duty of every taxable citizen to contribute their quota to this effect. Without taxes, there can be no country.

According to the Constitution of the Federal Republic of Nigeria 1999: Section 24 (f) of 1999 Constitution (as amended) it states that “it shall be the duty of every citizen to declare his income honestly to appropriate and lawful agencies and pay his tax promptly”. This is a legal requirement and it is fundamental to the successful operations of the country. Mind you, it is not an option or a recommendation but an obligation of every Nigerian citizen.

Some Nigerian Tax laws and Regulations which require compliance to tax payment include: Federal Inland Revenue Service (Establishment) Act (FIRSEA), Cap F36 LFN 2007; Personal Income Tax (PITA ), Cap P8, LFN 2004 as amended; Petroleum Profit Tax Act (PPTA), Cap P13, LFN 2004 as amended; Companies Income Tax (CITA), Cap C21, LFN 2004 as amended; Value Added Tax Act (VATA), Cap V1,LFN 2004 as amended; Tertiary Education Trust Fund (Establishment, Etc) Act (TETFEA) 2011 as amended; Stamp Duties Act (SDA), Cap S8, LFN 2004 as amended; Capital Gains Tax Act (CGTA), Cap C1, LFN 2004 as amended; National Information Technology Development Agency Act and the provisions of the Finance Act 2019, 2020, 2021 and 2023. These laws have provided the legal framework containing various tax obligations of a taxpayer.

Every taxpayer has certain rights such as: right to non-discrimination, transparency and accountability, adequate notice and information, redress, compliance assistance amongst others. But with these rights come responsibilities and obligations that must be fulfilled in compliance with the country’s tax laws. Some taxpayers fall short in fulfilling their tax obligations not necessarily because they want to but for lack or poor understanding of these obligations. This piece aims at shedding light on the key tax obligations of taxpayers in Nigeria.

The obligations of Nigerian taxpayers include, but are not limited to the following: registration for tax: Taxpayers are obligated to register with the appropriate tax authorities, depending on the type of tax they are liable for. This includes obtaining a Taxpayer Identification Number (TIN) from the Federal Inland Revenue Service (FIRS) for companies and the Joint Tax Board (JTB) for individuals.

Another obligation expected of taxpayers is record keeping. Taxpayers are required to maintain accurate and up-to-date records of their financial transactions, including income, expenses, assets, and liabilities. These records are essential for filing tax returns, substantiating deductions, and complying with tax audits. Record keeping is not common practice among small businesses. Yet it is the foundation for fulfilling your tax obligations. If you do not keep your records, how would you know what taxes you are meant to pay?

It is also the obligation of a taxpayers to file tax returns within the prescribed timelines. Individuals are required to file their Personal Income Tax (PIT) returns annually, while companies must file their Corporate Income Tax (CIT) returns within six months after the end of their financial year. Other tax returns, such as VAT returns and WHT returns, may also be required depending on the taxpayer’s activities. All too often, taxpayers think that if they do not make profits, or do not have a turnover above N25 million, then they are not required to file. This is not true. Filing returns is to be made whether or not you made profits or losses. As long as you are a taxpayer, you ought to file returns with the relevant tax authority.

Flowing from this obligation is the obligation to pay taxes—the most commonly spoke about obligation. Taxpayers have an obligation to pay the taxes they owe to the relevant tax authorities. This includes the timely remittance of Personal Income Tax, Companies Income Tax, Value Added Tax, Withholding Tax, and other applicable taxes. They also owe it as an obligation to comply with tax deductions. Employers and businesses that make payments subject to withholding tax (WHT) must deduct the appropriate tax amount at source and remit it to the tax authorities. This includes deducting WHT from salaries, contracts, dividends, interest, and other relevant payments.

Furthermore, taxpayers are required to provide accurate information and documentation as requested by tax authorities. This includes providing supporting documents for deductions, exemptions, and claims made on tax returns as well as cooperating with tax audits and investigations, providing requested information and records, and responding to inquiries in a timely and accurate manner.

To crown it all, taxpayers must comply with all relevant tax laws and regulations which includes staying updated on changes in tax laws and fulfilling their obligations accordingly.

By understanding and diligently leaving up to tax obligations, individuals and businesses actively participate in the development and progress of the country, ensuring a more prosperous, greater and equitable society for all.

Rachel Jantiku, is a researcher and writes from Abuja.

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Peter Obi’s Son, Oseloka, Breaks Silence on Gay Allegations

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Oseloka
FIRS

….Oseloka Obi, son of Labour Party’s 2023 presidential candidate Peter Obi, has reacted to viral gay allegations after photos of him with Kent Okwesa surfaced online.

Oseloka Obi, son of the 2023 Labour Party presidential candidate, Peter Obi, has broken his silence following viral allegations linking him to homosexuality after photographs of him with London-based British-Nigerian, Kent Okwesa, surfaced online this week.

The pictures, which emerged on Wednesday, showed Oseloka and Okwesa sitting closely at a restaurant in the United Kingdom, sparking a wave of online speculation and gossip.

In a detailed statement released on Thursday, Oseloka dismissed the rumours as malicious fabrications, describing them as part of a broader attempt to discredit his father because of his involvement in Nigerian politics.

“Because of my father’s involvement in Nigerian politics, there has been a persistent curiosity and, at times, malicious obsession with me. I have no social media presence and no interest in maintaining one, so I rarely correct these falsehoods. But perhaps it is time I address them,” he wrote.

The actor and filmmaker emphasized that he is pursuing his own career path, far removed from politics and business, and insisted that ordinary photos of him were being misrepresented to push false narratives.

“This pattern has become all too familiar: individuals opposed to my father seize ordinary photos of me — images that are neither hidden nor secret and repackage them with false stories. These are not revelations. They are not exposés. They are simply misrepresentations; fiction spun from pictures. What is being circulated is gossip,” he stated.

Oseloka further explained that unlike many children of Nigerian politicians, he has never relied on nepotism, noting that his father’s wealth is not his and that he is determined to build his own life. He highlighted that his chosen path in theatre and filmmaking celebrates diversity of race, class, sexuality, and identity but stressed that this does not translate into the allegations being made against him.

He described the allegations as a distraction from Nigeria’s pressing issues such as insecurity, economic hardship, poor healthcare, and failing infrastructure.

“Our nation still struggles with insecurity, a weakened economy, crumbling infrastructure, failing healthcare, and politicians who steal from the people they swore to serve. And yet, for some, the priority is to spread gossip about who Peter Obi’s son appears with in a photo. This is a distraction from the real crises that matter to all Nigerians,” he wrote.

Standing by His Father

Affirming his support for his father’s political ambition, Oseloka said:

“My father has my vote, not because he is my father, but because he is the right man for the job. If others wish to go low, invent scandals, or attack me to wound him, they are free to do so. But we will go high, and we will continue to focus on the future of Nigeria.”

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NELFUND Issues New Guidelines On Upkeep Loan Disbursement

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FIRS

The Nigerian Education Loan Fund (NELFUND) says that upkeep loan disbursement is now strictly tied to the academic session of each institution.

A statement by the Director of Strategic Communications Oseyemi Oluwatuyi states that in line with the directive, students shall only be entitled to upkeep loans for their current academic session and Upon the conclusion of an institution’s academic year, upkeep payments for that session shall automatically cease.


She further said interested loan applicants are required to apply for the loan at the beginning of every academic session to be eligible for both institutional charges and upkeep for that particular session.

To ensure accuracy and transparency, the NELFUND loan portal is being automated to reflect this adjustment

NELFUND is a student loan initiative in Nigeria that provides interest-free loans to students in tertiary institutions.

Here’s what you need to know :

Key Features:

– Interest-free loan: NELFUND offers loans without interest charges, making it easier for students to repay after graduation.
– Tuition and upkeep coverage: The loan covers both tuition fees and living expenses, ensuring students can focus on their studies.
– Repayment terms: Graduates are required to start repayment two years after securing employment or establishing a business.
– Eligibility: Students from low-income backgrounds, enrolled in public tertiary institutions, and meeting specific criteria can apply.

Benefits:

– Increased access to education: NELFUND aims to reduce financial barriers to higher education, promoting inclusivity and equality.
– Reduced dropout rates: By providing financial support, NELFUND helps students complete their studies and achieve their academic goals.
– Economic empowerment: The loan scheme enables students to pursue their education without financial burdens, empowering them to contribute to Nigeria’s economic growth.

Application Process:

– Registration: Students register on the NELFUND portal, providing required documents and information.
– Verification: NELFUND verifies the student’s eligibility and application details.
– Disbursement: Funds are disbursed directly to institutions for tuition fees and to students for upkeep allowances .

Impact:

– Over 449,000 beneficiaries: NELFUND has disbursed ₦86.3 billion to nearly 450,000 students since its launch in May 2024.
– Improved education outcomes: The initiative aims to enhance education outcomes by providing financial support to students and promoting transparency in fund allocation .

More About NELFUND

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EFCC declares Atiku’s son-in-law, Bashir Haske wanted for money laundering

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FIRS

The Economic and Financial Crimes Commission (EFCC) has declared Abdullahi Bashir Haske, the son-in-law of former presidential candidate, Atiku Abubakar, wanted in connection with a case of criminal conspiracy and money laundering.

In a statement on Thursday, EFCC spokesperson Dele Oyewale urged the public to provide any information that could lead to Haske’s arrest.

The anti-graft agency called on Nigerians to share credible tips with the nearest police station or any EFCC office.

Haske, an entrepreneur, industrialist, and investor from Adamawa, is being sought for his alleged role in the financial crimes.

The statement reads: “The public is hereby notified that Abdullahi Bashir Haske, whose photograph appears above, is wanted by the EFCC in an alleged case of criminal conspiracy and money laundering.

“Abdullahi is 38 year-old and his last known address is: No 6 Mosley Road, Ikoyi, Lagos State; 952/953 Idejo Street, Victoria Island, Lagos State.”

Source: X | officialEFCC

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PRESIDENT TINUBU DEPARTS JAPAN FOR BRAZIL

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FIRS


 
President Bola Ahmed Tinubu departed Yokohama, Japan, on Thursday night for the ultra-long-haul flight to Brazil, where he will begin a state visit on August 24.
 
President Tinubu will have a stopover in Los Angeles before continuing his journey to Brasilia, the capital of Brazil.
 
President Tinubu began his two-nation visit on Friday, August 15, when he departed Abuja. He and his entourage stopped over in Dubai, UAE, and arrived in Yokohama early in the morning on August 18.
 
After attending the opening ceremony and plenary of the ninth Tokyo International Conference for African Development( TICAD9) on August 20, President Tinubu held some bilateral meetings, culminating in the interactive session with diaspora Nigerians on Thursday night.
 
Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
August 22, 2025 

Yokohama

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Enugu Restricts Movement, Tightens Security for NBA 2025 Conference

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Enugu To Host the 2025 NBA Annual General Conference
FIRS

The Enugu State Government has announced traffic restrictions ahead of the Nigerian Bar Association (NBA) Annual Conference, billed to hold in the state from 22nd–29th August 2025.

In a notice on Wednesday, the Ministry of Transportation directed motorists, tricycle riders, and commercial buses to avoid certain roads, including Sullivan/Roban Junction, Rangers Avenue, Cubana Junction, IMT by SPAR, and Toscana Junction.

Alternative routes such as Presidential Road, Ogui Road, Zik Avenue, Agbani Road, and New Haven remain open to ease traffic.

Meanwhile, the Enugu State Police Command says it has deployed massive security ahead of the event. Commissioner of Police Kanayo Giwa assured participants and residents of a safe conference, urging vigilance and cooperation with security operatives.

Emergency hotlines have also been released: 08032003702, 08086671202, 112, 09134666668, 09134448093.

The NBA Conference is expected to draw thousands of lawyers, dignitaries, and stakeholders from across Nigeria.

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