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Presidency: Amaechi misled Nigerians on new tax law

The Presidency has accused former Minister of Transportation Rotimi Amaechi of misleading Nigerians with false claims about a new tax law that allegedly allows automatic deductions from bank accounts. In a statement, presidential aide Bayo Onanuga said Amaechi’s comments about “Tax Act No 25” and post 2027 enforcement were untrue and designed to create fear. Amaechi had claimed in a viral video that if the ruling All Progressives Congress remains in power after the 2027 elections, a tax policy would activate automatic debits on bank transfers and balances. He questioned why the law was not already in force, suggesting it was being delayed to avoid public backlash before the next polls. Onanuga dismissed these statements as “egregious lies”, insisting there is no provision in Nigeria’s new tax framework that authorises such automatic debits from citizens’ bank accounts. He alleged that […]

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Oyedele reminds Nigerians of March 31 deadline for individual tax returns

Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has urged Nigerians to file their annual tax returns within the deadlines set by law. He said employers must file their annual returns for employees, including pay projections and tax deductions, by January 31 each year. Individuals, including salary earners, must file their self assessment tax returns by March 31 for the previous fiscal year. Speaking during a webinar for HR managers, payroll officers, chief financial officers and tax managers, organised with the Joint Revenue Board, Oyedele warned that compliance levels remain very low nationwide. He noted that even in the most advanced states, less than five per cent of eligible individuals file returns. He explained that employees often assume that once employers deduct tax from their salaries, they have no further obligation. He stressed that this […]

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