The National Orientation Agency (NOA) has dispelled widespread fears that the federal government will directly deduct taxes from Nigerians’ bank accounts when new tax laws take effect in January 2026. In its latest weekly briefing, the agency addressed misconceptions surrounding the Nigerian Tax Act, 2025, and the Nigerian Tax Administration Act (NTAA), emphasizing that claims of automatic deductions are unfounded and stem from misinformation.

“Taxes will not be automatically deducted from the bank accounts of Nigerians,” the NOA stated unequivocally, seeking to reassure the public amid growing anxiety.

Clarifying the provisions of the NTAA, the agency explained that Section 29 mandates banks and financial institutions to submit quarterly reports on customers whose cumulative monthly transactions exceed N25 million for individuals and N100 million for corporate entities. This measure aims solely to detect potential tax evasion and does not authorize any direct withdrawal of funds by the government.

“The reporting requirement is a tool for monitoring and ensuring tax compliance, not a mechanism for automatic deductions,” the NOA added.

Highlighting the limited impact of this provision, the agency noted that only about five percent of bank customers maintain balances exceeding N500,000. Consequently, over 90 percent of Nigerians are unlikely to be affected by the reporting mandate.

The NOA also underscored that the new tax reforms are designed to alleviate financial pressure on low-income earners and small businesses. Individuals with annual incomes of N800,000 or less will be exempt from personal income tax, while businesses generating annual turnovers below N100 million will be relieved from profit tax obligations.

“These reforms seek to broaden the tax base, enhance compliance, and reduce evasion without imposing additional burdens on the majority of Nigerians,” the agency stated.

Furthermore, the agency anticipates that the revised laws will increase transparency in financial reporting and bring more eligible taxpayers into the formal tax system, strengthening Nigeria’s fiscal foundation.

As the January 2026 implementation date approaches, the NOA’s clarifications aim to build public confidence in the government’s commitment to fair and transparent taxation.

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Nigeria’s Minister of Innovation, Science and Technology, Uche Nnaji, has resigned from President Bola Tinubu’s cabinet following widespread allegations that he forged his academic and NYSC certificates.

The Presidential spokesman, Bayo Onanuga, confirmed the resignation in a statement on Tuesday, bringing to an abrupt end Nnaji’s 14-month tenure as one of the administration’s pioneer ministers.

The embattled minister has been at the centre of controversy since an investigative report by Premium Times alleged that he falsified the academic credentials he submitted for ministerial screening. The report detailed findings from a two-year investigation, revealing discrepancies in the certificates Nnaji claimed to have obtained from the University of Nigeria, Nsukka (UNN) and the National Youth Service Corps (NYSC).

While Nnaji maintained that he graduated from UNN in 1975, the institution reportedly could not verify that he completed his academic programme. The Vice-Chancellor of UNN, Professor Simon Ortuanya, was quoted as saying that although Nnaji was admitted in 1981, “he did not complete his studies and was never awarded a degree.”

The investigation further claimed that the NYSC could not authenticate the discharge certificate the minister submitted to the presidency and other government institutions. NYSC officials were said to have described the document as “strange” and not traceable within their records.

The allegations, which have trailed Nnaji since his nomination in July 2023, intensified in recent weeks, prompting mounting public pressure and calls for his resignation.

Neither Nnaji nor the Ministry of Innovation, Science and Technology has issued an official statement addressing the allegations as of press time.

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Minister of Works, David Umahi, has given Winhomes Global Services Limited seven days to provide evidence of its alleged $250 million investment in land affected by the Lagos-Calabar Coastal Highway or face petitions to the EFCC, DSS, and even the US Embassy.

Inspecting the site in Lagos on Monday, Umahi dismissed the company’s claims as misleading. “I have a document from Winhomes that says they bought 12 hectares of land in 2022 for the sum of N50 million. In this area, with all the development around, I don’t know if the villagers were terribly cheated or if due process was followed. Nigerians should ask questions,” he said.

The minister pointed to what he called substandard works on the site. “The only thing we destroyed was the gatehouse, for which the enumerator graciously gave her N19 million. The woman claimed she has invested $250 million. Not ₦250 million, but dollars. We cannot trace the money, the approvals, or the investors. If she really brought that amount, where is it? Show us through the CBN, show us who paid, and how much they paid. Otherwise, it is a fraud to me.”

Umahi demanded an apology and warned that without proof, the case would be escalated. “I’ll be writing to the Embassy of America to demand that they send the woman back to us so that she will come and tell us where the money is and how it left America to come to Nigeria,” he added.

Civil society representatives also challenged Winhomes’ narrative. Declan Hekare, who had earlier led protests, said: “What I am seeing here is below my expectations. I expected to see structures that were erected and pulled down. That is not the case. If by the end of two weeks, more evidence is not provided, we will address a world press conference. Nigerians cannot be misled.”

On the project, Umahi assured that the highway will be delivered under a 30 percent government and 70 percent private financing model, with concessionaires ready to fund construction.

The post Umahi Gives Winhomes Seven Days to Prove $250m Claim, Threatens EFCC and US Petition appeared first on Housing TV Africa.

Minister of Works, David Umahi, has given Winhomes Global Services Limited seven days to provide evidence of its alleged $250 million investment in land affected by the Lagos-Calabar Coastal Highway or face petitions to the EFCC, DSS, and even the US Embassy.

Inspecting the site in Lagos on Monday, Umahi dismissed the company’s claims as misleading. “I have a document from Winhomes that says they bought 12 hectares of land in 2022 for the sum of N50 million. In this area, with all the development around, I don’t know if the villagers were terribly cheated or if due process was followed. Nigerians should ask questions,” he said.

The minister pointed to what he called substandard works on the site. “The only thing we destroyed was the gatehouse, for which the enumerator graciously gave her N19 million. The woman claimed she has invested $250 million. Not ₦250 million, but dollars. We cannot trace the money, the approvals, or the investors. If she really brought that amount, where is it? Show us through the CBN, show us who paid, and how much they paid. Otherwise, it is a fraud to me.”

Umahi demanded an apology and warned that without proof, the case would be escalated. “I’ll be writing to the Embassy of America to demand that they send the woman back to us so that she will come and tell us where the money is and how it left America to come to Nigeria,” he added.

Civil society representatives also challenged Winhomes’ narrative. Declan Hekare, who had earlier led protests, said: “What I am seeing here is below my expectations. I expected to see structures that were erected and pulled down. That is not the case. If by the end of two weeks, more evidence is not provided, we will address a world press conference. Nigerians cannot be misled.”

On the project, Umahi assured that the highway will be delivered under a 30 percent government and 70 percent private financing model, with concessionaires ready to fund construction.

The post Umahi Gives Winhomes Seven Days to Prove $250m Claim, Threatens EFCC and US Petition appeared first on Housing TV Africa.

The Nigeria Immigration Service (NIS) has announced a significant increase in the cost of obtaining an international passport, with the new rates scheduled to take effect from September 1, 2025.

According to the revised charges, the fee for a 32-page passport with a five-year validity period will now be ₦100,000, up from the previous ₦50,000. Likewise, the 64-page passport with a 10-year validity will rise from ₦100,000 to ₦200,000.

The adjustment applies nationwide and affects both fresh applications and renewals. The NIS is expected to release more details regarding the implementation in the coming days.

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