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95% Of Informal Sector To Receive Tax Relief Under New Plan — FG

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Taiwo Oyedele, chairman of the presidential fiscal policy and tax reforms committee, says the federal government is working on a system that will provide tax relief to 95 percent of the informal sector.

Oyedele delivered a speech on Sunday during the committee’s last meeting in Abuja.

According to Oyedele, the idea is to free companies with annual revenue of N25 million or less from the different levies that are impeding their development.

‘’So, we think that 95 percent of the informal sector should be legally exempted from all taxes; withholding tax, company income tax, even payee on their staff,” he said.

‘’We’re using data to inform our decisions. Currently, if you earn N25 million a year or less, you don’t have to pay company income tax, you don’t have to worry about VAT.

‘’We think that the informal sector are people who are trying to earn legitimate living, we should allow them to be and support them to grow to a point where they can then have the ability to pay taxes.”

Oyedele said the new reforms being proposed would focus on the top 5 percent of that sector, the middle class, and the elite for taxes.

The tax expert said the committee is drafting the laws to effect the necessary changes in the fiscal policy and tax reform ecosystem of the country.

The new laws, he said, would ensure that reviews become sustained by all governments coming in, adding that “we don’t want this whole effort to go down the drain, after one or two years”.

On compliance, the committee chairman urged

all stakeholders to fully cooperate with the government in implementing a new fiscal and tax policy that would be used for the general good of the citizens.

“We think that the days of being above the law in paying taxes are over. The same thing we’re saying to our leaders, whether they are elected or appointed,” he said.

“We think they have to lead by example by showing that they have paid the taxes, not only on time, but correctly to the lawful authorities as contained in the various laws.”

Oyedele said some of the taxes complained about by Nigerians are those already in the constitution, which the committee has looked at and called for their review.

He said the committee report would be made to pass through the normal process of legislation in order to give it the full legal backing.

“So, our expectation is, as we progress now from ideation, proposal to implementation, you’ll see less and less of those issues and then you’ll see harmony in the direction of the fiscal system,” he said.

‘’Not only in the number of taxes we collect, you will also see an improvement in how those monies are being spent.

Oyedele added that the committee has been working with the sub-nationals and the local government councils in its task of harmonising the taxes into a single-digit system.

“So, we’re convinced, and that’s what the data tells us, that the right path we need to follow is the path where we repeal many of these taxes, harmonise whatever is left,” he said.

“We think we can keep that within single digits across local, state and federal governments combined, and then improve the efficiency of collecting those taxes.

The tax expert said he is convinced that Nigeria needs to increase the threshold of exemption for small businesses, for low income earners “because if they cannot make ends meet, the last thing you want is someone asking you to pay tax”.

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JUST IN: FG Bans Production Of Movies Featuring Money Rituals

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The federal government has prohibited the production and distribution of any movies or cinematography that feature money rituals and glamourising vices.

Shaibu Husseini, CEO of the National Film and Video Censors Board (NFVCB) made this known at an event in Enugu State on Wednesday.

The event was organised by the NFVCB and Corporate Accountability and Public Participation Africa (CAPPA).

Movie producers, directors, actors from different parts of the country, and leaders of various guilds and associations in the Nigerian film industry were present at the event.

Husseini said, “Today, we are facing an industry emergency requiring bold and ambitious actions from all parents, guardians, and stakeholders. When my predecessor approached the former Minister of Information, Alhaji Lai Muhammed, on the need to make subsidiary legislation to curtail the display of smoking in Nigerian movies, he saw the need to include money rituals.

“Others included in the regulation are ritual killings and glamorising other crimes in order to further sanitise the film industry. Today, I am delighted to announce to you that the Minister of Arts, Culture and the Creative Economy, Hannatu Musawa, pursuant to section 65 of the NFVCB Act 2004, has approved the regulation.”

He added, “The minister has approved the ‘prohibition of money ritual, ritual killing, tobacco, tobacco products, nicotine product promotion and glamorisation display in movies, musical videos and skits regulations 2024’. We have also forwarded the approved copy to the Federal Ministry of Justice for Gazette.”

Mr Husseini said the sensitisation programme was to educate stakeholders on the danger inherent in smoking in Nigerian movies.

According to him, besides the health implications, glamorising smoking in films poses a negative influence on teens and young adults, who constitute the largest segment of Nigerian movie viewers.

He said the film board was set to undertake detailed enlightenment programmes in secondary schools, tertiary institutions, local communities, faith groups and other institutions.

The NFVCB boss said, “As you all know, the film industry occupies a central position in the entertainment and creative sector, and it is imperative that we continue to place the highest premium on the progress of the film industry.

“The NFVCB supports smoke-free movies and supports smoke-free Nollywood, and we therefore seek your collaboration to develop creative content that discourages smoking and promotes positive health messages.”

He noted that after a series of engagements, the NFVCB, in collaboration with the CAPPA, decided to make “subsidiary regulations” to address smoking in movies since this aspect was not expressly spelt out in the extant law.

(c) News Agency of Nigeria.

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President Tinubu Appoints Shehu Mohammed As FRSC Corps Marshal

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Nigeria’s President, Asiwaju Bola Ahmed Tinubu, has appointed Shehu Mohammed as the corps marshal and the chief executive officer (CEO) of the Federal Road Safety Commission (FRSC).

Segun Imohiosen, director of information in the office of the secretary to the government of the federation (AGF), announced the appointment in a statement on Wednesday.

Imohiosen said the appointment is for an initial period of four years with effect from May 20.

“President Bola Ahmed Tinubu, GCFR, has approved the appointment of Assistant Corps Marshal Mohammed Shehu as the Corps Marshal/Chief Executive Officer of the Federal Road Safety Commission (FRSC),” the statement reads.

“President Tinubu tasks the appointee to bring his wealth of experience to bear in his new assignment.”

Mohammed will succeed Dauda Biu as the FRSC corps marshal.

In December 2022, former President Muhammadu Buhari appointed Biu as the substantive corps marshal of the FRSC.

Before the appointment, Biu was the acting corps marshal of the commission.

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JUST IN: Verydarkman Remanded In Police Custody For Cyberbullying, Hearing To Hold Next Wednesday

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The controversial social media critic Martin Otse, also known as VeryDarkMan, has been placed under arrest till his next hearing, which is scheduled for this Wednesday of next week.

Otse reportedly entered a not guilty plea to five counts of cyberstalking involving the Nigerian police, Nollywood actresses Iyabo Ojo and Tonto Dike, when he was arraigned at the Federal High Court in Abuja on Wednesday.

The police prosecuting team told Judge Mobolaji Olajuwon that they needed more time to react to his lawyer Deji Adeyanju’s bail plea, thus the court postponed the bail hearing to May 29.

The prosecution sought to have the blogger remanded in prison custody, but his lawyers successfully argued for his remand in police custody instead.

The court granted this request, and Verydarkman was subsequently taken to the National Cybercrime Centre.

The charges against him read, “1. Posting a video on October 29, 2023, on his Instagram handle ‘verydarkblackman’ that contained offensive, pornographic, or menacing information, falsely alleging that Iyabo Ojo had an indecent sexual relationship with her daughter, violating Section 24 (1)(a) of the Cybercrime (Prohibition, Prevention, etc) Act, 2015.

“That you Martins Vincent Otse (A.K.A. VERYDARKBLACKMAN) ‘M’, 29 YRS of Supreme Court Estate Karu, Abuja on or about 29th October 2023, in the Federal Capital Territory, Abuja within the jurisdiction of this Honourable Court knowingly and intentionally posted videos, by means of a computer system on your Instagram handles ‘verydarkblackman’, which video contained information that is grossly offensive, pornographic or of an indecent, obscene or menacing character wherein you stated that one Iyabo Ojo is having an indecent sexual relationship with her daughter knowing or having reasons to believe that the information in the video you posted on your Instagram handle is false and you thereby committed the offence of Cyberstalking contrary to and punishable under section 24 (1)(a) of the Cybercrime (Prohibition, Prevention, etc) ACT, 2015.

2. Posting a video on January 19, 2024, on Instagram, falsely accusing King Tonto Dikeh of criminal conversion of crowdfunding proceeds and being behind the Gistlover blog, intending to cause annoyance, inconvenience, and other harm, in violation of Section 24 (1)(b) of the Cybercrime Act.

“COUNT 3 That you Martins Vincent Otse (A.K.A. VERYDARKBLACKMAN) ‘M’, 29 YRS of Supreme Court Estate Karu, Abuja on or about 19th January 2024, in the Federal Capital Territory, Abuja within the jurisdiction of this Honourable Court knowingly and intentionally posted videos, by means of a computer system on your Instagram handles ‘verydarkblackman’ containing the information you know or had reasons believe to be false, wherein in the video you falsely published that King Tonto Dikeh is accused of criminal conversion of the proceeds of crowdfunding for Justice for Mohbad Movement, and being the person behind the gistlover blog, for the purpose of causing annoyance, inconvenience, danger, obstruction, insult, injury, criminal intimidation, enmity, hatred, ill will or needless anxiety to the person of the said King Tonto Dike and you thereby committed the offence of Cyberstalking contrary to and punishable under section 24 (1)(b) of the Cybercrime (Prohibition, Prevention, etc) ACT, 2015

3. Posting a video on March 19, 2024, alleging that senior police officers and lawmakers were involved in sexual activities with Bobrisky, intending to cause annoyance, inconvenience, and other harm, in violation of Section 24 (1)(b) of the Cybercrime Act.

“COUNT 4 That you, Martins Vincent Otse (A.K.A. VERYDARKBLACKMAN) ‘M’, 29 YRS of Supreme Court Estate Karu, Abuja, on or about 19th March 2024, in the Federal Capital Territory, Abuja within the jurisdiction of this Honourable Court knowingly and intentionally posted videos, by means of computer system on your Instagram handle ‘verydarkblackman’, containing information which you know or had reasons to believe to be false, wherein you stated the following, ‘I put it to you say the DIGs of the Police dem dey knack Bobrisky. The senators for senate house dey knack Bobrisky…I dare the Nigeria Police, I said what I said, the DIGs are knacking him, the Lawmakers, the Senate are knacking him in the National Assembly’ which statement you made for the purpose of causing annoyance, inconvenience, danger, insult, injury, criminal intimidation, enmity, hatred, ill will or needless anxiety to the persons of the DIGs of the Nigeria Police Force and members of the National Assembly and you thereby committed the offence of Cyberstalking contrary to and punishable under section 24 (1)(b) of the Cybercrime (Prohibition, Prevention, etc) ACT, 2015.

4. Posting another video on March 19, 2024, claiming that Bobrisky was pimping young boys to senators and senior police officers, intending to cause annoyance, inconvenience, and other harm, in violation of Section 24 (1)(b) of the Cybercrime Act.

“COUNT 5 That you Martins Vincent Otse (A.K.A. VERYDARKBLACKMAN) ‘M’, 29 YRS of Supreme Court Estate Karu, Abuja on or about 19th March, 2024, in the Federal Capital Territory, Abuja within the jurisdiction of this Honourable Court knowingly and intentionally posted videos, by means of computer system on your Instagram handles ‘verydarkblackman’ containing information you know or had reasons to believe to be false, wherein you stated that Bobrisky is pimping young boys for Senators and Senior Police Officers to sleep with, which statement you made for the purpose of causing annoyance, inconvenience, danger, insult, injury.”

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