News
Tax dodgers rob Nigeria $18bn yearly – Minister
Minister of State for Finance, Dr Doris Uzoka-Anite, has said Nigeria loses an estimated $18bn annually to tax-related illicit financial flows, describing the trend as a serious threat to the country’s development and economic sovereignty.
She made the disclosure in Abuja on Tuesday while delivering her opening remarks at the National Conference on Illicit Financial Flows.
According to the minister, the $18bn figure is largely linked to profit-shifting and aggressive tax avoidance strategies employed by multinational corporations operating in the country.
She said the outflows, often masked under legal or grey financial arrangements, deny Nigeria the resources needed for investments in healthcare, education, infrastructure, and job creation.
“It is estimated that Nigeria loses $18bn annually to IFFs due to profit shifting and aggressive tax avoidance practices by some multinational corporations transacting business in Nigeria,” Uzoka-Anite said.
She described illicit flows as a “hydra-headed monster” that must be tackled decisively, noting that while the conversation at the conference would focus on tax avoidance and evasion, the broader issue also encompasses terrorist financing and money laundering.
Uzoka-Anite said the Renewed Hope Agenda of President Bola Tinubu is focused on repositioning the economy away from a reliance on volatile oil revenues towards a more transparent and robust domestic revenue framework.
She said tax reforms would play a central role in that shift.
“Our reforms are aimed at building a resilient and self-reliant economy—driven not by debt or aid, but by transparent, equitable and efficient revenue generation,” she said.
The minister also commended President Bola Tinubu for recently signing four landmark tax bills into law, describing the move as a significant step towards simplifying Nigeria’s tax system, plugging leakages and boosting public confidence.
News
Breaking: Court of Appeal rules in favour of Turaki -led PDP candidate for Osun governorship election
The Court of Appeal, Abuja Division, on Thursday, ruled that the Peoples Democratic Party, PDP Gubernatorial Candidate in Osun State was validly nominated by the Tanimu Turaki-led National Working Committee.
The court also ordered INEC to list the PDP logo on the ballot ahead of Saturday’s gubernatorial election.
The Court held that access code is neither a creation of the Constitution nor the Electoral Act; rather, a creation of INEC’s guidelines and cannot, in any way, override the provisions of the Constitution.
Section 288 of the Constitution does not specify the method for nominating candidates; it only states that the names of candidates should be forwarded to the Commission.
The court further held that the defendant (INEC) should take steps to include the name of the appellant on the ballot paper.
Additionally, the court ruled that the primary election conducted by the Tanimu Turaki-led National Working Committee (NWC) of the PDP was a valid primary election in law.
The three-man panel of justices—Justice Mahmud, Justice Jaro, and Justice Ankawere, was unanimous in its judgment.
News
Breaking: NHRC sets up situation room to monitor and document hate speech, intimidation, threat to life ahead 2027
The national Human Rights Commission, NHRC, has set up a situation room to monitor and document all incidences of hate speech, intimidation and threat to life by politicians and other actors ahead of the 2027 general election.
The National Human Rights Commission (NHRC) has expressed concerns over rising incidences of hate speech, intimidation and outright threat to life by highly placed individuals, especially politicians and religious leaders.
The Executive Secretary of the Commission, Chef Tony Ojukwu, SAN, revealed this on Thursday in Abuja at a press conference.
He said the situation room would enable the Commission harvest data, analysis and document persons, agencies and others involved in the negative statements in order to ensure they are properly tracked and brought to book by relevant agencies.
Ojukwu also took journalists on a tour of the newly set up situation room.
Details later…..
News
Breaking: NHRC expresses concern over rising incidences of hate speech, threat to life ahead 2027 elections
The National Human Rights Commission (NHRC) has expressed concerns over rising incidences of hate speech, intimidation and outright threat to life by highly placed individuals, especially politicians and religious leaders.
At a press conference in Abuja Thursday, the Executive Secretary of the Commission, Chef Tony Ojukwu, SAN, recalled statements credited to Senator Francis Fadahunsi and Sheikh Yahya Jingir and described the das dangerous with capacity to set the nation ablaze.
He called on politicians, religious and traditional rulers, among other stakeholders to call their supporters and faithful to orders.
He urged government to act before rhetorics turn to violence, saying the forthcoming election in Osun State should serve as example of Nigeria’s capacity to conduct political contest in compliance with international best practices.
Details later…..
-
News1 year agoSenate to speed up conclusion of Nigeria Forest Security Service Bill
-
News1 year agoThe Many Lies Against Bashir Haske
-
News3 years agoBreaking: Tinubu’s authentic ministerial nominees
-
News3 years ago“Anytime we want to kill terrorists, President would ask us to take permission from France but they were killing our soldiers-” Niger Republic coup leader
-
News3 years ago“I’m leaving the Catholic church because Bishop Onah is oppressing me,” says Okunerere
-
News3 years agoRadio Nigeria’s veteran broadcaster Kelvin Ugwu dies three months after retirement from service
-
News3 years agoMy nude photo leak was a mistake- lawyer Ifunanya
-
News3 years agoDokpesi and the Gazebo Mystique