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Tinubu’s New Tax Laws: What Do They Mean for You and Nigeria? By [Chidike Edmond Ojuyenum] On June 26, 2025, President Bola Ahmed Tinubu signed four big tax reform bills into law. You might have heard about it on the news — but what does it really mean for you, your wallet, and the country? President Tinubu called it “the way forward for our country’s prosperity.” But let’s bring it down from government speeches to everyday life. So, What Are These New Tax Laws? The new laws are: Nigeria Tax Act (NTA), 2025 – Combines many old tax laws into one clear rulebook. Easier for businesses and citizens to know what to pay. Nigeria Tax Administration Act (NTAA), 2025 – Sets a single, modern system for tax administration nationwide. Less confusion, fewer overlaps. Nigeria Revenue Service Act (NRSA), 2025 – Replaces the old FIRS with a stronger, more independent Nigeria Revenue Service (NRS). They’ll be better equipped to collect taxes fairly and efficiently. Joint Revenue Bo...

 Banks Issue Fresh Updates as CBN Circulates Naira Notes Photo Credit: TheCable.ng In response to the Central Bank of Nigeria’s (CBN) decision to reverse its naira redesign policy, deposit money banks have announced adjustments to cash withdrawal limits placed on individuals and corporate. Reverting to the old order, the weekly withdrawals limit has now been upgraded strongly while banks said there is no requirement to generate reference codes for cash deposits has also been discontinued. Today, the apex bank floods banks with naira notes to assuage the ongoing cash crunch in the economy. It also directed all commercial banks to open for operation on Saturdays and Sundays to reduce the lingering cash crunch in the economy. The CBN also confirmed on Friday that a substantial amount of money, in various denominations, had been received by the commercial banks for onward circulation to their respective customers. After the Supreme Court order that upturned the CBN plan to remove old c...

 The Academic Staff Union of Polytechnics (ASUP) has declared nationwide strike with effect from Wednesday May 11th, 2022. Reports shows that the development comes less than 24 hours after the Academic Staff Union of Universities (ASUU) extended their ongoing strike by three months. According to ASUP, the action is based on the federal government’s failure to implement the Memorandum of Action (MoA) reached with the union in May, 2021. Precious Nwakodo, ASUP Zonal Coordinator, Zone D which comprises of South South and South East, announced the planned action at a press conference held at the Federal Polytechnic, Auchi, Edo state on Monday. Nwakodo said the planned strike action was hinged on the yet to be met demands among which are the non-release of the N15 billion Revatilization Fund approved over a year for the sector to address infrastructural deficit as contained in the 2014 Needs Assessment Report. According to him, “Following the discouraging response of the government to t...