latest
“Oyedele Warns Delay in New Tax Laws Will Punish 98% of Workers”
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has emphasized the urgency of implementing the new tax laws by January 1, 2026, warning that a large portion of Nigerian workers would continue to face overtaxation if the laws are delayed.....KINDLY READ THE FULL STORY HERE▶
Oyedele spoke amid growing debate over the planned rollout of the reforms, with prominent figures such as former Vice President Atiku Abubakar and former Labour Party presidential candidate Peter Obi advocating for a suspension until all concerns are addressed.
In an interview on Channels Television’s The Morning Brief, Oyedele explained that postponing the new tax laws would disproportionately affect the bottom 98 percent of workers, leaving them subjected to multiple taxes. He noted that businesses would miss out on exemptions, small unprofitable enterprises would continue paying unnecessary taxes, and the VAT on essential items like food would persist, driving up the cost of living.
“The consequence of delaying the implementation is that the majority of workers remain overtaxed, businesses forgo exemptions, and low-income and small businesses continue to bear heavy tax burdens. Hidden VAT will keep pushing up prices for essentials such as food, healthcare, and education,” Oyedele stated.
He argued that the solution is not to cancel the new tax laws but to proceed with implementation while addressing areas of concern. Oyedele highlighted that even if substantial amendments are identified in the National Assembly’s version, the law should still be enforced, with adjustments made subsequently.
“Our position is that we identify provisions that need attention, recognize that they are not part of the law, and then move forward with implementation while correcting issues. My committee has already approached President Bola Tinubu to begin the amendment process for areas that require clarification or redefinition,” he added.
The reforms encompass the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act, all under the Nigeria Revenue Service. The Federal Government has indicated that the reforms aim to simplify tax compliance, broaden the tax base, remove overlapping taxes, and modernize revenue collection across federal, state, and local governments.
Former Vice President and 2023 presidential candidate, Atiku Abubakar, has issued a seven-day ultimatum to President Bola Tinubu, demanding an independent investigation into the scandal surrounding the Presidential Foreign Intervention Promotion Council (PFIPC). Speaking through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku argued that a transparent probe is necessary to clear suspicions of high-level government involvement in the alleged fraud.....KINDLY READ THE FULL STORY HERE▶
Atiku’s critique centers on the perceived lack of institutional credibility regarding the government’s current explanation of the scandal:
-
Implausible Narrative: Atiku criticized the Presidency’s account—provided by Bayo Onanuga—as illogical, questioning how one individual (Adeniyi Adeyemi) could unilaterally secure government office space, conduct high-level meetings with foreign delegations, and process official staff salaries without internal collaboration or negligence.
-
Systemic Failure: He emphasized that while Adeyemi should face legal consequences if guilty, the government must address how such an operation bypassed standard institutional oversight.
-
Budgetary and Civil Service Inconsistencies: Atiku highlighted that the PFIPC reportedly appeared in the 2026 Appropriation Act with a multi-billion naira budget, and that the Office of the Head of the Civil Service allegedly approved the recruitment of over 300 staff members, both of which are structured processes that cannot occur by accident.
The Demand for Accountability
Atiku argued that the Presidency cannot deflect blame onto a single individual while ignoring the structural systems that facilitated the alleged fraud. Given that Adeyemi has denied the allegations and claimed that influential figures are attempting to silence him, Atiku contends that an independent inquiry is urgently required. He concluded by warning that failure to launch a comprehensive investigation would lead to public perception of “complicity by silence” on the part of the President.
Real Madrid has officially and categorically dismissed recent media speculation suggesting they are pursuing Chelsea midfielder Enzo Fernández.....KINDLY READ THE FULL STORY HERE▶
The Official Stance
In an official statement released on Friday, the Spanish club clarified its position:
-
Real Madrid confirmed they have made no direct or indirect efforts to sign the 25-year-old Argentina international.
-
The club explicitly stated they have no intention of initiating a transfer for the player.
-
Maintaining their commitment to “institutional loyalty,” Madrid emphasized that their relationship with Chelsea remains excellent.
-
The club expressed regret that unfounded rumors continue to circulate, noting that such misinformation causes unnecessary confusion for fans and damages the involved parties.
Context and Background
The denial follows intense speculation that arose after Jose Mourinho returned as manager for Real Madrid:
-
Reports had claimed that Fernández was Mourinho’s primary midfield target and that the player considered Madrid his preferred destination.
-
Chelsea reportedly values the midfielder, who is under contract until 2032, at approximately £120 million.
-
Fernández previously faced consequences at Chelsea, including being dropped for two matches earlier this year, after publicly expressing his admiration for Real Madrid and his desire to live in the Spanish capital.
Fernández is currently participating in the 2026 FIFA World Cup with Argentina, where he is preparing for a Round of 32 match against Cape Verde. During the previous season, he recorded 15 goals and seven assists across 54 appearances for Chelsea.
On Thursday, June 2, 2026, Justice J.O. Abdulmalik of the Federal High Court in Abuja ordered the final forfeiture of ₦150 million to the Federal Government. The funds, linked to Nicholas Mutu, a serving member of the House of Representatives, were seized following an application by the Economic and Financial Crimes Commission (EFCC).....KINDLY READ THE FULL STORY HERE▶
The ruling was secured under Section 44(2) of the 1999 Constitution and Section 17 of the Advance Fee Fraud Related Offences Act. The court had previously issued an interim forfeiture order and mandated public notice in a national newspaper. As no party provided sufficient evidence to challenge the forfeiture during the interim period, Justice Abdulmalik granted the final order, rejecting arguments presented by counsel for Mutu and his company, Airworld Technologies Ltd.
The EFCC’s Findings
The EFCC’s investigation detailed how the funds were obtained:
-
Kickback Scheme: While serving as Chairman of the House Committee on the Niger Delta Development Commission (NDDC), Mutu allegedly received over ₦400 million in kickbacks from an NDDC consultant, Starline Consultancy Services.
-
Laundering: The money was reportedly funneled through Heritage Bank accounts belonging to two of Mutu’s companies, Airworld Technologies Ltd and Oyien Homes Ltd, which are owned and operated by the lawmaker and his immediate family.
-
The “Consultancy” Ruse: Investigators revealed that after the Committee helped the NDDC recover over ₦100 billion from oil firms, Mutu pressured the consultant to issue a fake subcontract to his company to justify the kickbacks. The consultant later admitted that no actual work was performed by Mutu’s firm.
Mutu’s Defense and Ongoing Legal Status
During the investigation, Mutu returned ₦150 million to the EFCC, though he later argued in court that the payment was involuntary and that the funds resulted from legitimate business dealings. The court ultimately dismissed these claims, ruling that the money constituted proceeds of unlawful activity.
This civil forfeiture follows a separate, ongoing legal battle; the EFCC is currently appealing a previous judgment by Justice F.O.G. Ogunbanjo, which had acquitted Mutu in a related criminal money laundering trial.
-
latest10 months ago“Social Media Erupts As Jim Iyke Declares Rita Dominic Nollywood’s Most Beautiful”
-
latest2 years agoEdo Political Showdown: Oshiomhole Appears At Presidential Villa As Tinubu Hands APC Gubernatorial Flag To Okpebholo (Photos & Video)
-
entertainment2 years agoLove Knows No Age American Woman Defends Marriage To Young Nigerian Man “I’m Not 70”
-
latest2 years agoOlumide Akpata Strikes Again: Drops Killer Track, Sends Edo State Into Frenzy!(Video)
-
Politics3 years agoNigerians React As Pastor Adeboye Foresees Passing Away On A Sunday After Enjoying A Satisfying Meal Of Pounded Yam
-
latest2 years agoFG Identifies 31 States At Risk Of Heavy Flooding In 2024: See Full List
-
Politics3 years agoBREAKING: Inspector-General Of Police Summons Top Police Commanders For Crucial-Security Challenges
-
latest2 years ago5 NYSC Corpers Perish In Fatal Road Accident Returning From Camp