Gafar Hakeem🦄

#Educationist || #Counsellor || Leader || @unilorinNGR Alumnus || Exquisite || Volunteer @AIESEC.

[Gafar Hakeem🦄 @AmHaykay]

@OPay_NG @cenbank Account kindly deduct your money as I have no intention of paying the interest.

[Gafar Hakeem🦄 @AmHaykay]

@OPay_NG @cenbank I made a transfer to someone, unfortunately I didn't realise the money in my account wasn't enough for the transfer and just click until I realised I have used the easmonie+ service which I don't have interest in using. I have refunded the money back to the..

[Gafar Hakeem🦄 @AmHaykay]

@Anlugbua_Ibadan Who set him up?

If he sees the office as a set up, why can't he resign?

Abeg, talk something else.

[Gafar Hakeem🦄 @AmHaykay]

@Oyoaffairs ... 'he who pays the piper dictates the tune'.

[Gafar Hakeem🦄 @AmHaykay]

@officialEFCC *Wednesday, March 18.

[Gafar Hakeem🦄 @AmHaykay]

@XiaomiNigeria Algeria 1 - 3 Nigeria

[Dr Oludayo Sokunbi @Oludeewon]

Let's start 2026 like this:

This link has CV templates, SOP, Research proposals, Visa Interviews, Reference letters, IELTS, TOEFL, GMAT, GRE, and Emails to Prof:

Link: https://t.co/YeQjaW4OHr

RT and tag your friends.

[Gafar Hakeem🦄 @AmHaykay]

@RealSamboFatiu @Oniwe_luqman Amīn 🤲.

[Gafar Hakeem🦄 @AmHaykay]

@KaganTech Happy New Year. Wishing the very best.

[Gafar Hakeem🦄 @AmHaykay]

@IdrisAOni1 Amīn 🤲.

[Taiwo Oyedele @taiwoyedele]

Your bank account is safe with or without narration.

- 𝑷𝒓𝒆𝒔𝒊𝒅𝒆𝒏𝒕𝒊𝒂𝒍 𝑭𝒊𝒔𝒄𝒂𝒍 𝑷𝒐𝒍𝒊𝒄𝒚 𝒂𝒏𝒅 𝑻𝒂𝒙 𝑹𝒆𝒇𝒐𝒓𝒎𝒔 𝑪𝒐𝒎𝒎𝒊𝒕𝒕𝒆𝒆

[A. Ayofe @abdullahayofel]

Government is trying to tax the rich for the benefit of the poor but the poor are busy fighting goyvernment on behalf of the rich — Mr Taiwo Oyedele 🔥❤️

[Ab Abdillah👩‍💻 - ACA @Hishaqq08]

Before You Panic About 2026 Taxes, Read This About Your Bank Statements

While I’ve seen a lot of misconceptions going on social media regarding the use of bank transaction descriptions as a means of avoiding the taxation of inflows in bank statements, it is important to clarify these issues so that people won’t be misled.

While I will acknowledge that the use of description is a good and inevitable practice not only for tax purposes, but also for other issues such as transaction tracking, account reconciliation, budgeting, reporting purposes against money laundering etc.

In fact, some people are being denied visa because there was no clarity on the transactions in their bank statements.

Having said that, will that only impact your taxes in 2026? Yes and No, kindly take your pen as I demystify.

Firstly, the news flying around that banks will deduct tax from customers accounts from 2026 is FALSE and MISLEADING.

Tax authorities do not have the power to automatically debit your account until a tax liability has become “final and conclusive”

What does this mean? Kindly read the detailed explanation here for better understanding👇

https://t.co/wLT5DkcEnp

Let me break it down further

1. In Nigeria, we operate a self assessment system whereby a taxpayer will voluntarily disclose information about his income and transactions for the period to the tax authority. This process is called “filing of tax returns”.

- For an individual generating an income, the deadline for filing self assessment returns is on or before 31st March of the following year. For example, returns for the 2025 financial year must be filed on or before 31 March 2026.

-While for companies, the returns should be filed within six months after the end of their financial year for existing companies, while newly incorporated companies have 18 months from the date of incorporation or six months after the end of their first financial year (whichever comes first).

2. After the returns have been filed, that’s where the real tussle begins. Where the tax authority believes that the returns you filed is understated or incorrect, they’ll send you an assessment letter telling you to come and pay the outstanding liability.

At this point, the question you’ll ask me is how will the tax authority knows the tax return I filed is incorrect?

The tax authority has access to intelligence report through the NIBSS and BVN frameworks, and this includes your bank information based on the statutory disclosure requirements of banks and other financial institutions.

Specifically, Section 29 of the Nigeria Tax Administration Act (NTAA) mandates banks and financial institutions to submit quarterly reports on:

a) Individuals with cumulative monthly transactions of ₦25 million and above and

b) Corporate entities with cumulative monthly transactions of ₦100 million and above.

Please note that this disclosure requirement is not a new provision just that the threshold has been revised in the new laws.

3. Also, prior to now, not all SIRS leverage on this intelligence report, but the dynamic might change going forward particularly for Lagos and FCT.

Here’s the practical reality.

4. In practice, most time, tax authorities will issue a very “high and unrealistic assessment”, and they’ll tell you that’s your outstanding liability and then request for your bank statements. This is where your bank transaction descriptions become useful and will save you🫵

They don’t know about the inflows in your statement, the onus is on you to prove that “Not all inflows are revenue” rather some relates to loans, gifts, refunds, capital and others.

But Does It End There? NO

This is the crucial part many people are not talking about and that’s called “proper documentation”.

Your bank description alone does not exempt an amount from being taxed, your documentation does.

That’s why in taxation, the tax man doesn’t rely on verbal explanations or stories, they rely strictly on verifiable evidence.

[Gafar Hakeem🦄 @AmHaykay]

@Hishaqq08 This is really enlightening. Thanks.

[Ab Abdillah👩‍💻 - ACA @Hishaqq08]

CLARIFICATION ON SEIZURE OF PROPERTY OR AUTOMATIC BANK ACOUNT DEDUCTION WITHOUT A COURT ORDER

Having read the “headline”, I knew something was wrong because it is quite unusual for Taiwo to respond or issue a clarification memo in such a manner, despite the sustained pressure he had faced while delivering his national assignment.

After I read the whole post, I knew my instinct was right and the issue was more of tit-for-tat.

At the juncture, it’s very important for @GazetteNGR and other media platforms to tread carefully. This is not a good time to use media to clickbait or sensationalism, rather all media should be educating the public about the tax reform rather than politicizing it.

Criticism where necessary should be done constructively and not the usual gbas gbos between political interest.

Clarifications should be sought where necessary and avoid pushing negative narratives.

A reporter had reached out to me before for clarification on the tax reform and I shared my insights, just as several other professional colleagues did. This is the best way to go.

Educating and criticizing where necessary.

That being said, Taiwo was only explaining the concept of “power of substitution and distrain” of the tax authority and at the same time clarifying the misconception surrounding the automatic deduction of a defaulting taxpayer’s funds without a court order.

This process is not a new one just a little modification. See section 60-61 of the NTAA and section 31-33 of the FIRSEA to understand the concept 👇

In fact, the existing law does not require a court order before invoking the power of substitution.

Let me also clarify that in practice, before a tax authority can seize your assets or instruct an agent (such as a bank) to deduct funds for tax recovery, the tax liability must be “FINAL AND CONCLUSIVE.” Several procedural steps must be completed:

1. Nigeria operates a self-assessment system. Taxpayers are required to file returns, and where the tax authority believes the assessment is understated or incorrect, a Notice of Assessment/Demand Notice is issued. This stage involves series of responses, reconciliation meetings to agree on the tax due.

2. After this, you’ll receive a “Best of Judgement (BOJ) letter which state your final tax liability. You’re required to object (contest) by writing to the tax authority within 30days. Failure to respond within the timeline makes the amount final and you’re required to pay.

3. When you respond, the tax authority may issue a “Notice of refusal to amend (NORA)”. At this point, you either agree to the tax liability assessed and pay, or you go to the Tax Appeal Tribunal (TAT) and from there possibly to Supreme Court depending on your tenacity to contest the liability.

4. After all these steps (1-4) have been concluded, that’s when the tax becomes “final and conclusive” and power of distrain and substitution come to play.

At this point, the tax authority has given you enough ground to prove your non default.

They can then seize your property and give you additional 14days for payment. If you default, they can authorize an agent says a bank or any party holding your funds to deduct the outstanding tax liability. This is what is referred to as the power of substitution.

Simply put, If you owe me and you refuse to pay, but I know someone who holds your money and is subject to my authority, I can recover my money through that person.

I hope this clarifies the issue of automatic deduction of your money from your bank accounts without Court order or seizure of property.

Thank you.

@taiwoyedele @woye1 @GazetteNGR

[Gafar Hakeem🦄 @AmHaykay]

@lekankingkong 😂😂😂

[ArugboBoisi @Arugboboisi_Sam]

Day in, day out, refuse dumps have become part of our road “aesthetics.”
They sit there boldly, decorating our streets, greeting commuters like permanent landmarks.

In this video, the decoration has found a special spot at Ojoo Terminal welcoming travelers with heaps of filth instead of dignity, this is truly shameful.

A government that does not prioritize the health and welfare of its people leaves them exposed to disease, discomfort, and daily humiliation.

Cleanliness is not a luxury, it is a basic responsibility. Our roads, markets, and terminals deserve better, and so do the people who use them every day.

@OYSG_MOENR @Seun_TNA @seyimakinde @oyostategovt @oyostategovt @FeedbackOYSG

[Taiwo Oyedele @taiwoyedele]

𝐓𝐇𝐄 𝐍𝐄𝐖 𝐓𝐀𝐗 𝐋𝐀𝐖𝐒 𝐖𝐈𝐋𝐋 𝐇𝐄𝐋𝐏, 𝐍𝐎𝐓 𝐇𝐔𝐑𝐓 𝐀𝐈𝐑𝐋𝐈𝐍𝐄𝐒

We recognise the genuine challenges facing Nigeria’s aviation industry, particularly the burden of multiple taxes, levies, and regulatory charges. The Presidential Fiscal Policy and Tax Reforms Committee on behalf of the government has engaged extensively with airline operators and those engagements are ongoing.

Contrary to the claim that the new tax laws will hurt the industry, the reform is part of the solution, not the source of the problem. Several long-standing tax issues driving costs in the sector have been resolved in the new tax laws or are being structurally addressed including:

1. 𝐖𝐢𝐭𝐡𝐡𝐨𝐥𝐝𝐢𝐧𝐠 𝐓𝐚𝐱 𝐨𝐧 𝐀𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐋𝐞𝐚𝐬𝐞𝐬

The single biggest tax burden on airlines has been the 10 percent withholding tax (WHT) on aircraft leases under the existing law. This has now been removed and replaced with a rate to be determined in a regulation, creating the legal basis for either a full exemption or a significantly lower rate.

To put this in context, on a $50 million aircraft lease, an airline currently pays $5 million in WHT, which is non-recoverable and therefore directly increases operating costs and strains cash flow. Eliminating this burden is a major structural relief for the sector.

2. 𝐕𝐀𝐓 - 𝐅𝐫𝐨𝐦 𝐇𝐢𝐝𝐝𝐞𝐧 𝐂𝐨𝐬𝐭 𝐭𝐨 𝐓𝐫𝐮𝐞 𝐍𝐞𝐮𝐭𝐫𝐚𝐥𝐢𝐭𝐲

While the temporary VAT suspension introduced in 2020 following COVID-19 was attractive, it came with a hidden cost. Airlines could not recover input VAT on non-exempt items including certain assets, consumables, and overheads, meaning VAT became embedded in costs.

Under the new tax laws, airlines become fully VAT-neutral. Any VAT paid on imported or locally procured assets, consumables, and services will become fully claimable. Where an airline has excess input VAT, the law mandates a refund within 30 days, supported by a fully funded tax refund account and the option to offset VAT credits against other tax liabilities. This directly reduces cost pressure and improves liquidity.

3. 𝐈𝐦𝐩𝐨𝐫𝐭 𝐃𝐮𝐭𝐢𝐞𝐬

Existing exemptions on commercial aircraft, engines, and spare parts remain fully in place. There is no reversal or new burden introduced under the tax reforms.

4. 𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐧 𝐓𝐢𝐜𝐤𝐞𝐭 𝐏𝐫𝐢𝐜𝐞𝐬

Airline operations are inherently low-margin. A 7.5 percent VAT on tickets, within a system where input VAT is fully recoverable, results in a significantly lower net impact than the headline rate suggests. Even in a worst-case scenario where VAT were not claimable, the maximum impact would still be 7.5 percent, not the price increases being suggested. That is, a N125,000 ticket becomes not more than N134,375 and a N350,000 ticket not more than N376,250.

5. 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐈𝐧𝐜𝐨𝐦𝐞 𝐓𝐚𝐱 (𝐂𝐈𝐓)

The new law provides a framework to reduce corporate income tax from 30 percent to 25 percent which will benefit airlines. In addition, several earmarked profit-based levies including Tertiary Education Tax, NASENI, NITDA and Police levies have been harmonised into a single Development levy, reducing complexity and ensuring certainty.

6. 𝐌𝐮𝐥𝐭𝐢𝐩𝐥𝐞 𝐋𝐞𝐯𝐢𝐞𝐬 𝐚𝐧𝐝 𝐂𝐡𝐚𝐫𝐠𝐞𝐬

The multiplicity of levies imposed on airlines and flight tickets is real, but these charges are not created by the new tax laws. It is therefore incorrect to attribute them to the reform. The government is actively working with operators and relevant agencies to achieve a lasting solution. Importantly, the tax harmonisation provisions in the new laws mean the situation can only improve, not worsen, from 2026.

𝐂𝐨𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧

Overall, the new tax laws provide a strong legal and policy framework to resolve the long-standing tax challenges in the aviation sector, reduce operating costs for airlines, and ensure minimal impact on passengers.

If the current engagement with industry stakeholders is sustained, the remaining non-tax issues will be resolved sooner rather than later. Claims not grounded in fact do not help this process. The new tax laws are not the problem, they are a critical part of the solution.

- 𝑷𝒓𝒆𝒔𝒊𝒅𝒆𝒏𝒕𝒊𝒂𝒍 𝑭𝒊𝒔𝒄𝒂𝒍 𝑷𝒐𝒍𝒊𝒄𝒚 𝒂𝒏𝒅 𝑻𝒂𝒙 𝑹𝒆𝒇𝒐𝒓𝒎𝒔 𝑪𝒐𝒎𝒎𝒊𝒕𝒕𝒆𝒆

[ArugboBoisi @Arugboboisi_Sam]

With due respect, the growing state of our environment suggests a troubling recalcitrance from the Ministry charged with protecting public health.

This is a popular market where foodstuffs are sold daily, where raw meat is openly displayed for consumption, yet heaps of refuse and unbearable stench sit boldly at the entrance, greeting traders and buyers alike.

Must disease break out before decisive action is taken?

We urge oyo state goverment to extend the same energy and urgency deployed for circular roads, Elite estates, and new developments to basic environmental sanitation.
A clean city is not optional; it is foundational to governance, dignity, and public safety.

Oyo State deserves better and if managing sanitation and environmental order feels too demanding, perhaps the learned barrister-turned-commissioner may find greater fulfillment back in legal practice because the environment cannot continue to suffer from neglect while lives are put at risk.

[Gafar Hakeem🦄 @AmHaykay]

@Arugboboisi_Sam @FeedbackOYSG