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Significant Revenue Losses: President Tinubu Calls For Global Tax System Review

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Nigeria’s President, Asiwaju Bola Ahmed Tinubu, has called for a review of the global taxation system.

The president said this at the third south summit of the Group of 77 and China, which opened on Sunday in Kampala, Uganda.

The summit hosted many heads of state and government as well as heads of international organisations, including United Nations Secretary-General Antonio Guterres.

Global tax refers to a system of taxation that applies across national borders, aiming to create a fair and efficient way to raise revenue from multinational corporations and individuals with significant international income.

Tinubu said redressing the imbalance in the international tax regime has become imperative.

The president was represented by Atiku Bagudu, minister of budget and economic planning, according to a statement by Folasade Boriowo, the ministry’s director of information of the ministry.

Speaking at the summit, themed, ‘Leaving No One Behind’, Tinubu said the issue of global taxation is pressing because it impacts developing countries.

“The current international tax systems, largely shaped by the interests of more affluent nations, often leave developing countries at a disadvantage, especially in taxing digital economies,” he said.

“This systemic imbalance has led to significant revenue losses, hampering our efforts towards sustainable development and economic self-reliance.”

In response to this, according to the statement, Nigeria, alongside other member states of the African Group, championed a historic initiative at the United Nations, calling for a framework convention on tax.

This resolution, according to the president, marks a pivotal step towards establishing a more equitable and inclusive global tax system.

Tinubu also thanked all the countries that supported the global tax review initiative.

He said their solidarity reflects “our shared commitment to rectifying the inequities of the current tax system and fostering a more just economic order.”

Also, the politician said the country is committed to South-South collaboration, stressing the significance of Triangular cooperation.

“This partnership model, involving developing countries, developed nations and international organisations, offers a comprehensive approach to address global challenges,” he added.

“Such cooperation enriches Nigeria’s strategies for sustainable development, ensuring inclusivity and maximising the impact of our collective efforts.”

Reaffirming Nigeria’s commitment towards multilateralism and the objectives of the Bandung principles, Tinubu said as G77 looks towards the future, the organisation should envision a movement that is responsive to the needs and aspirations of member states.

BIG STORY

JUST IN: Ex-IGP Solomon Arase Dies At 69

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The family of Solomon Arase, former Inspector-General of Police, has confirmed his death at the age of 69. He passed away early on Sunday, August 31, 2025, at Cedarcrest Hospital in Abuja following a brief illness. The announcement was made by his son, Solomon Arase Jr.

In their statement, the Arase family of Benin City, Edo State, described him as a distinguished servant, noting his later roles as Chairman of the Police Service Commission and as a member of the Body of Benchers

The police public relations officer, Muyiwa Adejobi, said an official statement from police authorities is forthcoming

Separately, Channels TV also reported the death of the former IGP, citing a family source and confirming that he died at Cedarcrest Hospital in Abuja. They added that the police are preparing a formal statement

Background & Legacy

Career Highlights
Arase served as Nigeria’s 18th Inspector-General of Police (2015–2016). Before that, he headed the Force’s Criminal Intelligence and Investigation Bureau—its highest intelligence unit. He later chaired the Police Service Commission from January 2023 until June 2024

Professional Impact
His tenure was marked by reforms such as the introduction of the Intelligence Response Team, Complaint Response Unit, and Safer Highway Patrols, which enhanced police response and accountability

Life & Education
Born on June 21, 1956, in Edo State, Arase graduated in Political Science from Ahmadu Bello University (1980) before joining the police in 1981. He later earned a law degree from the University of Benin and a master’s from the University of Lagos. He also served in Namibia under a UN peacekeeping mission and was a Fellow of the Nigerian Defence Academy

Reactions & Role in Security
News of his passing sparked national concern. Social media users praised his reform-driven leadership and listed his progressive contributions—like the Police Complaints Response Unit—as part of his enduring legacy

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37-Year-Old American Nicholas Giroux Jailed For Life Over Murder Of Nigerian boxer Olugbemi

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A 37-year-old man, Nicholas Giroux, has been sentenced to life imprisonment plus an additional 20 years for killing Nigerian-American boxer, Isaiah Olugbemi, in Anne Arundel County, Maryland.

According to the Anne Arundel County State’s Attorney’s Office, Giroux received the sentence on Friday from Judge Richard Trunnell after pleading guilty to first-degree murder and use of a firearm in a violent crime. The prison terms will run consecutively.

Olugbemi, 27, a father and highly regarded amateur boxer, was shot several times by Giroux on June 17, 2024, along Meadowmist Way in Odenton. He later died from his injuries at the R. Adams Cowley Shock Trauma Center in Baltimore.

Surveillance video revealed Giroux approaching Olugbemi, firing multiple rounds until he collapsed, and then discharging three more shots before fleeing. Police later recovered 9mm casings from the crime scene.

Investigators noted that Giroux had previously confronted Olugbemi and a neighbour at a cookout about two weeks earlier, where he displayed a firearm, though he did not fire it at that time.

Following the shooting, Giroux confessed during interrogation and directed authorities to the location of the gun he used.

Describing the murder, State’s Attorney Anne Colt Leitess called it “cruel and senseless,” stressing that the victim had a bright future in boxing.

“Mr. Olugbemi was a father and a rising star in amateur boxing. The callousness and lack of remorse on the part of this Defendant is really disturbing. He deserves this sentence. And to the family and friends of Mr. Olugbemi, I hope that today provides some sense of justice for this terrible ordeal,” Leitess said.

The case was prosecuted by Assistant State’s Attorney Carolynn Grammas, with homicide detectives from the Anne Arundel County Police Department leading the investigation.

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40-Year-Old US-Based Nigerian Daniel Chima Risks 20-Year Jail Term Over ‘$405,000 Romance Scam’

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Daniel Chima Inweregbu, a 40-year-old Nigerian, has pleaded guilty to multiple fraud charges in the United States, according to the Department of Justice (DOJ).

US prosecutors said Inweregbu conspired to commit mail and wire fraud, while also using a false identity to carry out a romance scam that ran from July 2017 to December 2018.

The scheme, which cost victims over $405,000, involved Inweregbu and his partners contacting Americans through email and messaging platforms. They pretended to be “Larry Pham,” built online romantic relationships, and then tricked victims into sending money to bank accounts they controlled.

Once received, the funds were laundered through intermediaries to conceal their source, ownership, and movement, the DOJ added.

According to court filings:

  • Count 1 carries up to 20 years in prison, three years of supervised release, and a fine of $250,000.
  • Count 12 also carries up to 20 years in prison, with a fine of up to $500,000.
  • He must also pay a mandatory $100 special assessment fee for each count.

Sentencing has been fixed for December 4, 2025, before Judge Brown.

This is not Inweregbu’s first conviction. In December 2020, a Federal High Court in Lagos sentenced him to 18 months in prison (with an option of a ₦300,000 fine) for a similar romance scam. He was also ordered to refund $15,000 to the US Consulate.

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