@DeeOneAyekooto The government has a list of agencies. This guy was head of an unlisted agency with a budget allocated to it. Everybody, from the presidency to the CBN, must be investigated. Government officials may be the masterminds behind this scam.
WHO KILLED DOLAPO BABATUNDE TANIMOLA?
The only man who could confirm how Adeyemi got a presidential appointment letter died in a hotel fire. Five days before Adeyemi was arrested.
Let me lay out the timeline exactly as the official documents show it.
October 10, 2025 — Adeyemi hosts foreign ambassadors at Wells Carlton Hotel, Asokoro. No Ministry of Foreign Affairs involvement. No government knowledge.
October 15 — Ministry of Foreign Affairs flags the meeting and writes to the NSA and Chief of Staff demanding clarification.
October 17 — Chief of Staff petitions the DSS and Police to investigate forgers and impostors.
October 22 — Dolapo Babatunde Tanimola, the man Adeyemi would later tell police helped him procure the forged presidential appointment letter, dies in a fire at Kachi Hotel in Utako, Abuja.
October 27 — Adeyemi is arrested at his Federal Secretariat office. In his statement to police, he names Tanimola as his key accomplice. Police go looking for Tanimola. They find a morgue.
There is no independent news report of a fire at Kachi Hotel in Utako in October 2025. Not from Channels. Not from Punch. Not from any Abuja news desk. The only place this fire exists in the public record is inside the Presidency's own statement about Tanimola's death. A man dies in a hotel fire in Abuja, and it generates zero media coverage at the time.
The police confirmed his death through four separate channels: interviews with his relatives, the hotel proprietor, records at the National Hospital, and burial confirmation from St Matthew's Anglican Church in Maitama. That is an unusually thorough verification process for a routine hotel fire.
Serious drama at the NDC primaries in Abuja as Emeka Ike and Trageel cr!es out inside INEC office😲🙆🏼♂️
“We just came to INEC at area 10 and we saw a vehicle carrying some NDC officials in the corner. INEC, we have never trusted you and these people were found at your premises. What were NDC officials doing at your premises ? I have evidence of those people, sue me to court. You’re a f00 l”
"Henceforth, any anchor or presenter found to have:
expressed personal opinion as fact, bullied or intimidated a guest, denied fair hearing to opposing views, or otherwise compromised neutrality, shall be deemed to have committed a Class B breach."
NBC issues formal notice to broadcasters over code breaches in news, current affairs, and political programmes.
OMG 😱
Peter Obi went into total confusion when asked a question on Green Energy.
He doesn’t even know what Green Energy is about.
Peter Obi should take a break from politics and seek admission into a proper school.
@ruffydfire You were supposed to be asking the questions while your guest was supposed to be doing the talking. Instead, you ended up doing the talking and telling your guest not to interrupt you. Strange! You should learn from Aljazeera's Mehdi Hasan.
@OlayinkaLere@ruffydfire No facts digging in your interviews. You ask your question(s), followed by a barrage of your strongly held opinion regarding the question(s), or vice versa, then you demand answers from your interviewee. That's wack journalism, Rufai.
BREAKING NEWS: President Bola Tinubu approves the immediate reconstruction of three federal roads in Niger State and the extension of the Bodo–Bonny Road to connect with the East–West Road in Rivers State
The three road projects in Niger State will be reconstructed using reinforced concrete pavement to ensure durability and long-term value. They include:
1. Mokwa–Bida Road (120km)
2. Mokwa–Makeri Road (63km)
3. Bida–Labata Road (123.5km)
On the extension of the Bodo–Bonny Road to connect with the East–West Road, the project will be executed on a dual carriageway capacity, constructed with concrete pavement, and equipped with solar-powered street lighting.
𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐞 𝐭𝐨 𝐊𝐏𝐌𝐆: 𝐎𝐛𝐬𝐞𝐫𝐯𝐚𝐭𝐢𝐨𝐧𝐬 𝐨𝐧 𝐍𝐢𝐠𝐞𝐫𝐢𝐚’𝐬 𝐍𝐞𝐰 𝐓𝐚𝐱 𝐋𝐚𝐰𝐬
---𝘉𝘺 𝘗𝘳𝘦𝘴𝘪𝘥𝘦𝘯𝘵𝘪𝘢𝘭 𝘍𝘪𝘴𝘤𝘢𝘭 𝘗𝘰𝘭𝘪𝘤𝘺 𝘢𝘯𝘥 𝘛𝘢𝘹 𝘙𝘦𝘧𝘰𝘳𝘮���� 𝘊𝘰𝘮𝘮𝘪𝘵𝘵𝘦𝘦
We welcome all perspectives that contribute to a shared understanding and successful implementation of the new tax laws. We acknowledge that a few points raised by KPMG are useful, particularly where they relate to implementation risks and clerical or cross-referencing issues. However, the majority of the publication reflected a misunderstanding of the policy intent, a mischaracterisation of deliberate policy choices, and, in several instances, repetitions and presentation of opinion and preferences as facts.
𝐆𝐞𝐧𝐞𝐫𝐚𝐥 𝐨𝐛𝐬𝐞𝐫𝐯𝐚𝐭𝐢𝐨𝐧𝐬
A significant proportion of the issues described as “errors,” “gaps,” or “omissions” by KPMG are either:
- the firm’s own errors and invalid conclusions,
- issues not properly understood by the firm,
- missed context on broader reforms objectives,
- areas where KPMG prefer different outcomes than the choices deliberately made in the new tax laws, and
- obvious clerical and editorial matters already identified internally.
While it is legitimate to disagree with policy direction, disagreements should not be framed as errors or gaps. KPMG would have been more effective if the firm adopted a similar approach like other professional firms who engaged directly providing the opportunity for clarifications and mutual-learning.
It is equally important to distinguish between policy choices designed to achieve the reform objectives and proposals that merely represent a firm's preference.
𝐏𝐨𝐥𝐢𝐜𝐲 𝐂𝐡𝐨𝐢𝐜𝐞𝐬 𝐚𝐧𝐝 𝐂𝐥𝐚𝐫𝐢𝐭𝐲 𝐨𝐧 𝐑𝐞𝐟𝐨𝐫𝐦𝐬
1. Taxation of Shares and the Stock Market
Contrary to the presumption that the new tax provisions on chargeable gains would trigger a sell-off on the stock market, the fact is that the applicable tax rate on share gains is not a flat 30%. The tax framework is structured from 0% to a maximum of 30%, which is set to reduce to 25%. Furthermore, a significant majority of investors (99%) are entitled to unconditional exemption, with others qualifying subject to reinvestment.
The market's performance, which is at an all-time high with increased investment flow, demonstrates investors understanding that the tax changes will enhance the fundamentals of firms both in terms of profitability and cash flows. The sell-off narrative is unsubstantiated as any disposals in December 2025 would have benefited from the re-investment exemption or enhanced deductions under the new law.
2. Commencement Date and Transition
The suggestion to set the commencement date as the start of an accounting period (e.g., 1 January 2026) takes a narrow view of the complex transition issues. A wholesale reform affects myriad issues beyond the accounting period, spanning multiple periods, different bases of assessment (preceding year, actual year), as well as issues related to audit, deductions, credits, and penalties. Limiting the commencement to a single date for accounting periods would fail to address the intricacies of continuous transactions and other transition matters. KPMG’s proposal is therefore not a “gold standard” to be applied to all new laws as suggested.
3. Indirect Transfer of Shares
The new provision to tax indirect transfer of shares is a policy choice aligned with global best practices and BEPS initiatives. Its objective is to block a long-exploited tax loophole by multinationals and other investors, not to affect competitiveness. This is a common provision in international tax, and the assertion that it may affect the country's economic stability is disingenuous.
4. VAT Exemption on Insurance Premium
KPMG's point regarding a specific VAT exemption on insurance premium is technically unnecessary, as an insurance premium is not a "taxable supply" defined under the Nigeria Tax Act. Insurance relates to risk transfer, not the supply of goods or services subject to VAT. As this has always been the administrative and legal position, a specific amendment for exemption is academic. If it is not broken, don’t fix it.
𝐈𝐬𝐬𝐮𝐞𝐬 𝐑𝐞𝐟𝐥𝐞𝐜𝐭𝐢𝐧𝐠 𝐌𝐢𝐬𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐁𝐲 𝐊𝐏𝐌𝐆
5. Inclusion of 'Community' in Definition
The concern about the inclusion of “community” in the definition of a ‘person’ but its omission from the charging section does not constitute a gap or ambiguity. In statutory interpretation, definitions provided in the law apply wherever the defined term appears, unless the context requires otherwise. Hence, ‘person’ and ‘taxable person’ are used in the charging section, and both definitions include ‘community.’ This approach is consistent with modern legislative drafting principles, which use comprehensive definitions to streamline operative provisions and avoid redundancy. This is similar to the inclusion of partnerships and executors in the definition but not under the charging section. The use of the word “includes” further signifies that the list of taxable persons is not exhaustive.
6. Joint Revenue Board (JRB) Composition
The composition and mandate of the Joint Revenue Board (JRB) are intentional. Its policy advisory role is specifically to provide a subnational tax and revenue perspective that complements the fiscal policy mandate of the Ministry of Finance. Its membership is appropriately limited to revenue-focused agencies, which is why it is called the Joint Revenue Board. This is a similar composition under which the former JTB operated effectively, and its functions remain consistent with the need for inter-agency coordination.
7. Distinction in Dividend Treatment
KPMG's analysis appears to mix the distinction between a foreign-controlled company and a foreign operation of a Nigerian company. Dividends distributed by a foreign company cannot be "franked" since no Nigerian Withholding Tax (WHT) would have been deducted. Section 162(1)(s) confers exemption on dividend, interest, rent, or royalty derived from outside Nigeria and brought into Nigeria through approved channels. The choice to treat dividends distributed by Nigerian companies differently from foreign companies is a deliberate policy choice, as they are fundamentally different for tax purposes.
8. Non-Resident Registration and Final Tax
The view that a payment subject to deduction as final tax should automatically exempt the non-resident recipient from tax registration misses a critical distinction. While the law conditionally exempts passive income from registration, the deduction of tax on non-passive income is not synonymous with an exemption from registration or filing of returns. The same way that residents are required to file returns on income such as interest (in the case of individuals) and dividend where WHT is final. Returns serve a broader purpose beyond solely generating tax revenue.
𝐊𝐏𝐌𝐆’𝐬 𝐏𝐫𝐨𝐩𝐨𝐬𝐚𝐥𝐬 𝐓𝐡𝐚𝐭 𝐖𝐨𝐮𝐥𝐝 𝐔𝐧𝐝𝐞𝐫𝐦𝐢𝐧𝐞 𝐊𝐞𝐲 𝐑𝐞𝐟𝐨𝐫𝐦 𝐎𝐛𝐣𝐞𝐜𝐭𝐢𝐯𝐞𝐬
9. Tax on Foreign Insurance Premiums
The proposal to exempt foreign insurance companies from tax on premiums from insurance written in Nigeria to deepen penetration, while local insurance companies continue to pay tax, would be detrimental to the domestic insurance sector. This would create an unfair and harmful competitive disadvantage for local firms in their own market. The current policy is designed to protect and promote local industry and ensure a level playing field.
10. Parallel Market Forex Deduction
The new law disallows tax deduction for the difference where a business buys foreign exchange in the parallel market at a premium over the official rate. This is a critical fiscal policy choice designed to complement monetary policy, strengthen, and stabilise the Naira. By removing the tax subsidy for patronage of the parallel market, the policy aims to reduce incentives for round-tripping and redirect legitimate FX demands to the official market. This is policy congruence, not an error.
11. VAT Compliance-Linked Deductibility
The non-tax deduction for taxable transactions on which VAT has not been charged is a necessary anti-avoidance measure. It removes the advantage that some taxpayers previously enjoyed by patronising suppliers who evade VAT. This is a matter of fairness and is squarely within the control of a business to manage, especially given the provision for the self-charge of VAT. It also ensures that responsible businesses play their part in promoting voluntary tax compliance across the ecosystem.
12. Progressive Personal Income Tax
While KPMG acknowledges the reform objective of fairness and progressivity, the firm disagrees with a top marginal tax rate of 25% for the highest earners. In reality, the effective tax rate can be as low as 22% for an individual earning billions a year simply by contributing 10% to pension. This rate is competitive when compared to many other countries, including Angola 25%, Egypt 27.5%, Ghana 35%, Kenya 35%, the U.S. (Federal) 37%, South Africa 45%, and the U.K. 45%. So, the rate is not “oppressive” or one that will negatively affect economic growth as claimed, rather it ensures progressivity without compromising competitiveness. From a broader policy objective perspective, the increase in top marginal rate for high income earners and the reduction in corporate tax rate is designed to address the existing higher tax burden associated with business formalisation.
𝐅𝐚𝐥𝐬𝐞 𝐈𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧 𝐚𝐧𝐝 𝐅𝐚𝐜𝐭𝐮����𝐥 𝐄𝐫𝐫𝐨𝐫 𝐛𝐲 𝐊𝐏𝐌𝐆
13. Police Trust Fund
The Police Trust Fund was signed into law on May 24, 2019, with a six-year lifespan under section 2(2) of the Act, which ended in June 2025. Therefore, KPMG's point that the new tax law should be amended to repeal the taxing section of the Police Trust Fund Act is needless, as the provision no longer exists.
14. Small Company Verification
The analysis concerning the tax exemptions for small companies affecting large companies' obligations is not a new issue or an inconsistency in the new law. The small business threshold was introduced via the Finance Act 2021. This issue pre-dates the current tax laws and should not be presented as an error or omission simply by virtue of a higher tax exemption threshold under the new law.
𝐖𝐡𝐚𝐭 𝐊𝐏𝐌𝐆 𝐋𝐞𝐟𝐭 𝐎𝐮𝐭
While acknowledging the objectives of the reform, KPMG could have highlighted the major structural improvements under the new laws, including:
- simplification and tax harmonisation,
- the scope for reduction in corporate tax rate from 30% to 25%,
- expanded input VAT credits for businesses,
- tax exemption for low-income earners and small businesses,
- elimination of minimum tax on turnover and capital, and
- improved investment incentives for priority sectors.
A balanced assessment would have recognised these transformative elements, among others.
𝐂𝐨𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧 𝐚𝐧𝐝 𝐖𝐚𝐲 𝐅𝐨𝐫𝐰𝐚𝐫𝐝
The tax reform is the result of an extensive consultation with various stakeholder groups in addition to the legislative process that included widely publicised public hearings, avenues intended for all stakeholders including international firms to provide technical expertise at the formative stage.
In any comprehensive overhaul of a nation’s tax framework, clerical inconsistencies or cross-referencing gaps may occur, and these are already being identified within the government. The tax reform represents a bold step toward a self-sustaining and competitive Nigeria.
An effective review needs to connect identified gaps to clear policy intents and the reality of modern-day tax systems within the context of economic development and global competitiveness.
At this stage, the effectiveness of the tax law depends on administrative guidance, clarifications from the tax authority, and regulations to complement precise statutory provisions where necessary pending future amendments.
We urge all stakeholders to pivot from a static critique to a dynamic engagement model, which allows for clarifications and a productive partnership in the implementation of the new tax laws.
🗣️ Andrea Pirlo's story about attacking Gattuso with a fire extinguisher:
“One time we gave him a soaking with a fire extinguisher. A draw away to the Republic of Ireland had been enough to secure our qualification for the 2010 World Cup in South Africa and so the last group game, against Cyprus in Parma four days later, had become almost like a friendly.
Pretty much meaningless, and that's exactly how we treated it.
Lippi gave us a night off in Florence, and almost all of us went out for dinner. Gattuso didn't – he stayed at the team hotel. When we got back, we were quite drunk, actually very drunk, and we ended up chatting in the lounge.
We weren't tired, so we needed to find something to pass the time. Everyone had the same idea: "Let's go and p*** off Gattuso."
He was already asleep, with his little nightcap on his head. On the way up the stairs to Rino's room, De Rossi spotted a fire extinguisher.
"I'm off to put out Gattuso," he said. We knocked on the door and out Rino came, screwing his eyes up as he advanced. Daniele started spraying, covering him in every last drop before running off to hide in his room.
He left me at the mercy of that monster in its underpants, absolutely dripping with foam and shouting total gibberish.
Listening to him, though, I knew he was beginning to wake up and regain his senses. I tried to escape, but I was already done for.
When the guy on your shoulder is Gattuso and he's out to do you harm, you can run as hard as you like, but he'll always catch you. Rino ran me through his full range of slaps.”
𝐈𝐑𝐑𝐄𝐒𝐏𝐎𝐍𝐒𝐈𝐁𝐋𝐄 𝐉𝐎𝐔𝐑𝐍𝐀𝐋𝐈𝐒𝐌 𝐁𝐘 𝐏𝐄𝐎𝐏𝐋𝐄𝐒 𝐆𝐀𝐙𝐄𝐓𝐓𝐄
I usually ignore name calling because it is not worthy of attention that could otherwise be deployed productively. However, I am responding to this as a matter of public interest and hopefully to help other media organisations with similar tendencies.
Peoples Gazette published a malicious article claiming that I lied about certain provisions of the Nigeria Tax Administration Act. The accusation is false, reckless, and not supported by anything I said during the referenced TV interview.
It started with a WhatsApp message which I received from Peoples Gazette. Rather than wait for my response, they rushed to publish their accusation just after their first message below.
𝐏𝐞𝐨𝐩𝐥𝐞𝐬 𝐆𝐚𝐳𝐞𝐭𝐭����: Good afternoon, Mr Ayodele. We followed your interview on Arise TV yesterday but found that you goofed and misrepresented the facts in the tax law. Contrary to your claims, Section 61 of the new law empowers the FIRS to seize Nigerians' money, properties without court order, for not paying taxes.
𝐓𝐚𝐢𝐰𝐨 𝐎��𝐞𝐝𝐞𝐥𝐞: I will ignore your rude language since you obviously didn't understand my simple explanation. Send a screen recording of where I said what you claim. And my name is Oyedele, not Ayodele.
𝐏𝐞𝐨𝐩𝐥𝐞𝐬 𝐆𝐚𝐳𝐞𝐭𝐭𝐞: I know that your name is “Oyedele,” that was probably a typographical error. However, I wasn’t being rude to you, Mr Ayodele. During your December 24th interview on Arise TV, you claimed that the tax man (FIRS) cannot just seize people’s assets or money. This claim is contrary to the provisions in Sections 61 and 43 of the tax law. Here’s a clip from your interview: https://t.co/wH3LnqEufg
𝐓𝐚𝐢𝐰𝐨 𝐎𝐲𝐞𝐝𝐞𝐥𝐞: You can check the meaning of goof if that helps. If you're truly a professional journalist you won't jump into conclusion without due diligence. All you needed to do was watch about 2 minutes in the interview before the clip you shared, from the point the question was asked.
𝐖𝐡���𝐭 𝐭𝐡𝐞𝐲 𝐜𝐨𝐧𝐯𝐞𝐧𝐢𝐞𝐧𝐭𝐥𝐲 𝐥𝐞𝐟𝐭 𝐨𝐮𝐭
My explanation clearly stated that enforcement actions do not arise in a vacuum. There is a process under the existing law which hasn’t changed – a taxpayer is entitled to self assessment, while the tax authority may issue an additional assessment to which the taxpayer has the right of objection, until the tax becomes final and conclusive under an appeal framework that involves the courts, up to the Supreme Court where applicable.
Peoples Gazette’s allegation relies on a short excerpt taken mid-response, stripped of the question and the explanation that immediately preceded it. Here is the full interview: https://t.co/Ud4shH8QN5
Responsible journalism requires due diligence, full context, and professionalism especially on a matter that is capable of misleading the public. Even if I said what they claimed, someone acting in good faith could have said “wrong” instead of “lied” but it was obviously intentional to gain the attention of their unsuspecting followers and get the clicks.
Falsehood may travel fast but only the truth can go far.
MUST WATCH VIDEO: Nigeria Breaks Dollar Chains — Trump's Military Warning Exposes Empire's Desperation | Mearsheimer
🚨 SHOCKING:
Trump just threatened WAR against Nigeria for accepting non-dollar payments for oil. Prof. John Mearsheimer exposes how this reveals America's empire is crumbling from within.
💥 What Really Happened:
Nigeria announced it would accept the yuan and euros alongside the dollar for oil payments. Trump immediately threatened "vicious" military action.
This is WAR THREATS over a simple currency choice
Africa's largest economy just broke free from dollar dependency
The petrodollar system is collapsing before our eyes
⚡ Critical Analysis Includes:
Why Nigeria's move terrifies Washington more than any military threat
How dollar dominance has been America's secret weapon for decades
Why threatening war over currency exposes the empire's true weakness.
How Nigeria is leading Africa's independence from Western control
The global de-dollarisation trend is unstoppable.
🌍 Global Implications:
End of automatic deference to U.S. preferences
BRICS expansion accelerating dollar alternatives
African sovereignty vs American financial coercion
Climate policy is being weaponised by the West
Multipolar world emerging from unipolar collapse
🔥 Key Revelations:
How weaponising the dollar backfired spectacularly
Why Nigeria chose dignity over dependency
The precedent that will inspire other nations
What this means for American global influence
📚 Expert breakdown by John Mearsheimer - University of Chicago Professor and America's leading authority on power politics and empire dynamics.
#RenewedHope
#RenewedHopeAgenda
@NigeriaGov@NGRPresident@aonanuga1956@SundayDareSD@AlakeDele@scarfizal@otegaogra
@MikeArnoldTruth The Pope is honest. He said Christians and Muslims are victims. That's the truth. Nigeria will continue to overcome the machination of separatists.
JUST IN: President Tinubu has put his scheduled trip to South Africa for the G-20 Summit on hold as he awaits a detailed briefing from Vice President Kashim Shettima, who is currently in Kebbi State on an official assessment visit, according to senior officials within the Presidential Villa.
The development indicates that the President intends to receive first-hand updates on the situation in Kebbi before departing for the high-level international engagement.
Vice President Shettima, representing the Federal Government during his visit, is expected to submit a comprehensive report on conditions in the northwestern state, including insights gathered from meetings with local leaders, ongoing government programmes, and the broader security and socio-economic landscape.
@MikeArnoldTruth You and your Biafra agitating friends who are angling for Biafra independence using fraudulent "Christian genocide" as a cover will not have your way. It is Mission Impossible, I'm afraid. Terrorists kill Muslims, Christians, heathens, without selecting.
I don’t think we will ever find this on your page even though it is Kaduna, your home state.
On September 2, 2024, police officers collaborated with a team of local hunters to raid Maraban Wasa, Gurzan Hakimi Mariri, and Abugan Kurama villages in Kaduna State's Lere Local Government area, arresting five kidnappers none of which looks like fulani.
They are, Danjuma Luka a.k.a. Uba, 25 years old, Ayuba Simon, 50 years old and Idi Saleh, 57 years old.
Before being arrested their attrocities is being blamed on Islam and Fulani herdsmen.