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FCT Minister Nyesom Wike Approves Property Tax In Abuja

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Nyesom Wike, Minister of the Federal Capital Territory (FCT), has accepted a draft property tax policy for the city.

Property owners in Abuja would have to start paying property taxes as a result of this development.

According to reports, the FCT-Internal Revenue Service has begun implementing Capital Gains Tax in the FCT, as required by the Capital Gains Tax Act 2004.

The Capital Gains Tax requires a 10% tax on the entire amount of chargeable gains accruing to any individual on the disposal of chargeable assets during the assessment year.

Haruna Abdullahi, the Executive Chairman of the FCT-IRS, made this statement to journalists on Sunday in Abuja.

Abdullahi said the minister had approved some key initiatives to drive revenue for the FCT.

He said, “In the last three weeks, the minister has approved some initiatives that are huge and will certainly change the dynamics in terms of the bottom line. Just the other day, we submitted a draft proposal to the minister for the FCT property tax regulation.

“The FCT-IRS Act empowers the minister to come up with a property tax regulation for the FCT. So we had a long conversation and we suggested it to the minister, and he asked us to come up with a draft regulation, which we did, and he has approved the initiative.

“So we have an inter-agency collaboration whereby we review it because the draft was just done by the FCT-IRS, but that’s not enough, you need other stakeholders. So he approved the initiative to go ahead and review the draft and then come back.

“Subsequently at the end of the day, he will sign the regulation and is gazetted and implemented. So that alone should tell you that there is a huge positive impact on the bottom line of the IGR in the city.”

BIG STORY

Countries With Highest U.S. Visa Rejection Rate [SEE FULL LIST]

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The U.S. Department of State – Bureau of Consular Affairs has released the list of countries with the highest U.S. visa rejection rates.

The list shows that Nigeria has a 29% rejection rate, while North Korea and Micronesia have 100% rejection rates respectively.

Countries like Monaco and Liechtenstein boast of a 0% rejection rate, while Israel, UAE, and Saudi Arabia have 3%, 4%, and 5% rejection rates respectively.

The list places Nigeria in the upper tier of nations with significant challenges in obtaining U.S. visas, alongside countries like Ukraine (34%), Russia (39%), and Pakistan (41%).

For Nigerian applicants, the 29% rejection rate indicates that nearly one in three visa requests is turned down, reflecting the difficulties faced by many Nigerians seeking entry into the United States for business, tourism, or educational purposes.

Other countries with higher rejection rates include Canada (52%), Liberia (78%), and North Korea, which, alongside Micronesia, faces a 100% rejection rate.

Here is a list of countries with the highest U.S. visa rejection rates:

1. Monaco: 0%

2. Liechtenstein: 0%

3. Israel: 3%

4. UAE: 4%

5. Saudi Arabia: 5%

6. Japan: 6%

7. Czechia: 8%

8. Argentina: 8%

9. France: 10%

10. Mexico: 10%

11. Italy: 10%

12. Denmark: 10%

13. Germany: 11%

14. Indonesia: 11%

15. India: 11%

16. Brazil: 12%

17. Vatican: 14%

18. South Korea: 14%

19. UK: 15%

20. Spain: 16%

21. South Africa: 16%

22. Australia: 17%

23. Norway: 18%

24. Ireland: 19%

25. Turkey: 21%

26. Sweden: 21%

27. Finland: 23%

28. Egypt: 26%

29. China: 27%

30. Nigeria: 29%

31. Ukraine: 34%

32. Iraq: 37%

33. Russia: 39%

34. Pakistan: 41%

35. Afghanistan: 49%

36. Canada: 52%

37. Iran: 53%

38. Liberia: 78%

39. North Korea: 100%

40. Micronesia: 100%

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BIG STORY

Atiku Writes National Assembly, Seeks 6-Yr Single Term For President, Governors

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Former Vice President and 2023 presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has submitted a memorandum to the National Assembly, requesting an amendment to the Constitution to introduce a single six-year term for the President and state governors.

In a memorandum to the Senate Committee on Constitutional Review, Atiku also proposed that the presidency be rotated between the North and South.

It is noteworthy that during Chief Olusegun Obasanjo’s presidency, he advocated for a six-year single term for the presidential seat.

Following the 2023 general elections, Atiku has continued to support this tenure proposal.

He stated, “The office of the President shall rotate among the six geopolitical zones of the federation on a single term of six years, flowing between the North and South on the single term of six years respectively.”

Atiku urged the National Assembly to “amend Section 135(2) to read: ‘Subject to the provisions of subsection (1), the President shall vacate his office at the expiration of a period of six years.’”

Additionally, he proposed the “substitution of an aspirant” in Section 285(14)(a) with “a voter.”

The former Vice President also suggested that the minimum educational qualification for a person to run for election should be the Ordinary National Diploma instead of the Senior Secondary School Certificate Examination. He proposed an amendment to Section 65(2)(a) to read: “He has been educated up to at least Ordinary National Diploma in any recognised academic institution.”

Furthermore, he recommended the insertion of a paragraph in Section 65(2)(a)(i) to read: “Evidence of certificates of all educational qualifications of a candidate shall be submitted to the Independent National Electoral Commission or an affidavit by the candidate in the event of loss of his/her educational certificates, qualifications obtained, and dates, stating the schools attended.”

Atiku also advocated for political parties to have more power in the candidate selection process. He proposed an “amendment to Section 65(2)(b) to read: ‘He is a member of a political party whose name is in the register to be made available by his political party to the Independent National Electoral Commission 30 days before the conduct of the political party’s primary and he is sponsored by that party.’”

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BIG STORY

Minimum Wage: Federal Government Raises Retirees’ Pension By N32,000

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Following the adjustment in salary structures by the committee set up by the government to review the new minimum wage, retirees will now receive an increment of N32,000 in their monthly pensions.

This was revealed in a memo by the National Salaries, Wages, and Income Commission, sighted on Monday by The PUNCH. According to the memo, dated September 27, 2024, and signed by the Chairman of the NSIWC, Ekpo Nta, the affected retirees are those who retired under salary schemes for doctors, health workers, lecturers, police, paramilitary, armed forces, and others.

The memo stated: “Consequent upon the implementation of the National Minimum Wage (Amendment) Act 2024 and the consequential adjustments in the salaries of employees in the Federal Public Service, the President of the Federal Republic of Nigeria has approved an increase of N32,000 per month on the pensions of retirees under the defined benefits scheme of agencies on the following salary structures: Consolidated Public Service Salary Structure, Consolidated Research and Allied Institutions Salary Structure, Consolidated Universities Academic Salary Structure, Consolidated Tertiary Institutions Salary Structure II, Consolidated Polytechnics and Colleges of Education Academic Staff Salary Structure, and Consolidated Tertiary Educational Institutions Salary Structure.

“Consolidated Medical Salary Structure, Consolidated Health Salary Structure, Consolidated Para-Military Salary Structure, Consolidated Police Salary Structure, Consolidated Intelligence Community Salary Structure, and Consolidated Armed Forces Salary Structure.”

The memo further added that the approval would take effect from July 29, 2024. Agencies not part of the mentioned salary structures would need to apply to the commission to determine the appropriate increase applicable to their retirees.

It also noted that the Committee on Consequential Adjustments in Salaries for civil servants met on Friday to agree on the effective date of July 29, 2024, for the implementation of the new minimum wage. This decision followed President Bola Tinubu’s signing of the new minimum wage bill into law on July 29 after discussions with the Nigeria Labour Congress and the Trade Union Congress of Nigeria.

The National Salaries and Wages Commission highlighted that the reason for setting the implementation date in July 2024 was due to the President’s signing of the bill that same month.

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