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Finance Bill Makes TIN Mandatory For Banks’ Account Holders

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The Finance Bill 2021 has made it mandatory for commercial banks to demand Tax Identification Number (TIN) from any individual seeking to open an account with them.
The bill also empowers banks to demand TIN from existing customers if they wish to continue to operate their accounts.
The bill also makes it mandatory for non-resident firms such Google and Twitter to pay taxes to the Federal Government of Nigeria.
The Leader of the Senate, Yahaya Abdullahi, stated this in his lead debate on the bill, sent to the National Assembly by President Muhammadu Buhari, last Tuesday.
He said, “Banks will be required to request for Tax Identification Number before opening bank accounts for individuals, while existing account holders must provide their TIN to continue operating their accounts.”
The proposed bill makes provision for payment of tax by foreign firms which derives their profits from Nigeria.
The firms are: Twitter, Google, Facebook and other social media platforms.
The bill read in part, “The bill makes provision for the Accelerate International Taxation Reforms to enhance the taxation of non-resident individuals and companies that nevertheless derive profits from Nigeria.”
Abdullahi also said the bill made electronic mails as the only channel that tax authorities would accept as a formal means of correspondence with taxpayers;
He added that proposed bill prescribes penalty for failure to deduct tax, noting that this would also apply to agents appointed for tax deduction.
Abdullahi said, “This penalty is 10 per cent of the tax not deducted, plus interest at the prevailing monetary policy rate of the Central Bank of Nigeria (CBN). The conditions attached to tax exemption on gratuities have been removed. Therefore, gratuities are unconditionally tax exempt.
“The duties currently performed by the Joint Tax Board as relates to administering the Personal Income Tax Act, will now be performed by the Federal Inland Revenue Service.
“This seems to be an error in the process of amendments to replace the word “Board” as it appears in Federal Board of Inland Revenue.”
He said the penalty for Value Added Tax late filing of returns increased to N50, 000 for the first month and N25, 000 for subsequent months of failure;
He said, “The penalty for failure to register for VAT is reviewed upwards to N50,000 for the first month of default and N25,000 for each subsequent month of default.
“The penalty for failure to notify FIRS of change in company address to be reviewed upwards to N50,000 for the first month of default and N25,000 for each of the subsequent months of default.
“This penalty also covers failure to notify FIRS of permanent cessation of trade or business. Quite significantly, the Finance Bill seeks to introduce sweeping changes to the tax laws covering seven different tax laws.
“Many of the changes are expected to have positive impacts on investments and ease of paying taxes especially for the MSMEs. Going forward, we hope that changes to the tax laws will be on an annual basis to ensure that Nigeria’s tax system continues to evolve in line with economic conditions”
On the Personal Income tax Act, the Senate leader said the amendment clarified that pension contributions would no longer require the approval of the Joint Tax Board to be tax-deductible;
He said, “On the other hand, the bill seeks to remove the tax exemption on withdrawals from pension schemes except the prescribed conditions are met.

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Zabbey Emerges Social Impact Man Of The Year 2025 Reaffirms Commitment To Ogoni Transformation

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The Project Coordinator of the Hydrocarbon Pollution Remediation Project (HYPREP), Prof. Nenibarini Zabbey, has been named Social Impact Man of the Year 2025 by Daily Independent Newspapers.
The award was presented at the Independent Awards 2025 Silver Jubilee Edition held at Eko Hotels and Suites, Lagos, as part of activities marking the organisation’s 25th anniversary of editorial excellence.
Managing Director and Editor-in-Chief of Independent Newspapers, Steve Omanufeme, said the award recognises individuals who have demonstrated exceptional leadership and transformative impact in their respective fields. He explained that recipients emerged through a rigorous process involving public voting, editorial board scrutiny, and assessment by a panel of judges.
Omanufeme noted that Zabbey’s selection reflects his outstanding contributions to environmental restoration and community development in Ogoniland through the Ogoni cleanup project.
With over two decades of experience spanning research, advocacy, capacity development, and administration, Zabbey has, within three years of leading HYPREP, implemented people-focused initiatives aimed at improving livelihoods and restoring degraded ecosystems.
Under his leadership, the project has reportedly created more than 7,000 direct jobs and facilitated the training of thousands of youths and women in high-demand skills, including mechatronics, cybersecurity, commercial diving, underwater welding, and data analytics.
HYPREP has also trained over 5,000 beneficiaries across 21 vocational skill areas, providing start-up kits to support entrepreneurship and economic empowerment.
In the area of environmental sustainability, the agency has established 31 environmental clubs in secondary schools and trained 2,500 youths with International Maritime Organization (IMO) certification to support shoreline cleanup and mangrove restoration efforts.
The project has recorded significant ecological milestones, including the cleanup of over 1,000 hectares of shoreline and restoration of 560 hectares of mangroves. This progress contributed to the designation of Ogoni mangrove wetlands as a Ramsar Site of international importance.
Beyond environmental remediation, HYPREP has expanded its social intervention programmes to include educational grants and scholarships for over 1,000 students, support for small and medium-scale enterprises, and skills training for persons living with special needs.
Infrastructure and healthcare development have also featured prominently, with ongoing projects such as the Ogoni Specialist Hospital, a Cottage Hospital, the Ogoni Power Project, and the Centre of Excellence for Environmental Restoration. The agency has further strengthened emergency healthcare delivery by donating five ambulances to medical facilities in the region.
Additionally, potable water has been provided to more than 40 communities, alongside the construction of wind-powered water systems in underserved areas.
Speaking on the award, Zabbey described it as a validation of HYPREP’s integrated approach to environmental restoration, healthcare improvement, and economic empowerment.
“We remain committed to delivering a cleanup that not only restores the environment but also improves livelihoods in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu,” he said.
HYPREP, in a statement, expressed appreciation to the management of Independent Newspapers for the recognition, the Federal Ministry of Environment for its oversight role, and the Ogoni communities for their continued support and collaboration.
The agency was established by the Federal Government of Nigeria to implement the recommendations of the United Nations Environment Programme (UNEP) report on Ogoniland and restore areas impacted by oil pollution.

By: Donatus Ebi

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Supreme Court Awards N2m Cost Against Cassidy Ikegbidi, Others For Violating Court Orders

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The Supreme Court of Nigeria has awarded a total cost of ¦ 2 million against High Chief Cassidy Ikegbidi and other appellants in the protracted Eze Igbu Akoh II chieftaincy dispute, citing abuse of judicial process and disobedience of subsisting court orders, in a ruling that underscores growing judicial intolerance for procedural delays in long-running traditional leadership cases.
The decision, delivered on March 16, 2026, in Abuja by a five-man panel of the apex court led by Justice Mohammed Lawal Garba, arose from a series of applications filed by High Chief Cassidy O. W. Ikegbidi and others against HRH Eze Godspower Okorobia Okpagi and seven others, in a dispute over the rightful occupant of the Eze Igbu Akoh II stool in Igbu Akoh Kingdom of Ekpeye ethnic nationality in Ahoada East Local Government Area of Rivers State.
Court proceedings revealed that the appellants had filed multiple motions before the Supreme Court, including an application seeking injunctive relief and another seeking leave to amend a ground of appeal. However, both applications were later withdrawn by the appellants after the respondents had already filed responses and appeared in court on several occasions.
Although counsel to the respondents did not oppose the withdrawal of the applications, they strongly urged the court to award costs, arguing that the appellants’ conduct had led to unnecessary delays and avoidable legal expenses. The respondents maintained that the repeated filing and subsequent withdrawal of applications amounted to a deliberate attempt to frustrate the judicial process.
In its ruling, the Supreme Court struck out the withdrawn applications but took a firm stance on the conduct of the appellants, holding that their actions constituted an abuse of court process. The court further noted that the appellants had acted in violation of subsisting injunctive orders earlier issued by the High Court and upheld by the Court of Appeal, a development that weighed heavily in its decision to impose sanctions.
Consequently, the apex court awarded a lump sum cost of ¦ 2 million against the appellants in favour of the 1st to 5th respondents as a punitive and deterrent measure, reinforcing the principle that litigants must approach the court with sincerity and respect for existing judicial orders.
The ruling, however, is strictly procedural and does not resolve the substantive issue of who is the rightful Eze Igbu Akoh II. Rather, it deals only with interlocutory applications that were brought before the court and subsequently withdrawn, leaving the core dispute to be decided at a later date.
The chieftaincy tussle, which has lingered for years, can be traced back to a judgment delivered on March 14, 2018, by the High Court sitting in Ahoada, presided over by Justice T.S. Oji, which reportedly ruled in favour of Eze Godspower Okorobia Okpagi. Dissatisfied with the outcome, the opposing parties pursued appeals, leading to a prolonged legal battle that moved through the Court of Appeal in Port Harcourt and eventually to the Supreme Court.
While Eze Okpagi has consistently maintained that he is the only duly elected candidate for the Eze Igbu Akoh II stool, according to the customs and traditions of the Ekpeye ethnic nationality, as well as based on favourable court rulings, High Chief Cassidy Ikegbidi has continued to lay claim to the stool, a situation that has deepened tensions and prolonged uncertainty within the kingdom.
The immediate implication of the Supreme Court’s ruling is that the appellants have lost all pending interim reliefs, having withdrawn their applications, and now have no active motion before the apex court capable of altering the current legal position. More importantly, the injunctions granted by the High Court and affirmed by the Court of Appeal remain valid and binding, as they were neither set aside nor suspended by the Supreme Court.
This effectively places the respondents in a stronger position for now, as they continue to benefit from the subsisting judgments of the lower courts pending the final determination of the appeal. In contrast, the appellants must comply with the ¦ 2 million cost order and face a prolonged wait before the substantive issues in the case are heard.
Following the resolution of all pending applications, the Supreme Court adjourned the substantive appeal to March 19, 2029, a development that has generated mixed reactions among stakeholders, given the already lengthy duration of the dispute. The adjournment means that the final determination of the rightful occupant of the traditional stool will not be made for several more years, further extending a legal battle that has spanned nearly a decade.
Reacting to the ruling, Eze Godspower Okorobia Okpagi maintained that the decision reinforces the validity of earlier judgments in his favour, particularly as the Supreme Court declined to grant any relief that would have altered the status quo. He argued that the dismissal and withdrawal of the appellants’ applications confirm that the orders of the lower courts remain in full effect.
He further alleged that the appellants had taken steps inconsistent with those orders and accused them of employing delay tactics to prolong their hold on the situation, insisting that High Chief Ikegbidi should desist from parading himself as the Eze Igbu Akoh II pending the final determination of the appeal.
Legal observers note that chieftaincy disputes in Nigeria often become protracted due to their sensitive nature and the high cultural and political significance attached to traditional institutions, as well as the frequent filing of appeals and interlocutory applications that slow down the judicial process.

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PETOOP Inaugurates State Executives In PH

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A support group, Peter Obi Our President (PETOOP), has inaugurated its members and state executives from Rivers, Bayelsa and Cross River States in Port Harcourt, the Rivers State capital, with a renewed call to mobilise grassroots support ahead of the 2027 general elections.
The inauguration ceremony, held on Saturday, drew a large crowd of supporters and stakeholders from different walks of life, underscoring the growing political engagement around the group’s activities.
PETOOP said its core objective is to galvanise Nigerians across regions to support the presidential ambition of former Anambra State governor, Peter Obi, in the 2027 elections.
Chairman of the occasion, Dr. Okelechukwu Benjamin Okuolu, a former senatorial candidate for Rivers East under the Labour Party, described the group as a broad-based movement open to all Nigerians seeking good governance, stressing that it is not a political party.
Represented by Christian Ojukwu, Okuolu urged members to remain committed and make necessary sacrifices toward achieving credible leadership in the country. He expressed optimism about Obi’s chances in the next election cycle, citing what he described as the former governor’s leadership qualities.
Referring to the 2023 general elections, Okuolu encouraged members not to be discouraged by past challenges, but instead remain resolute and vigilant in future electoral processes.
He also commended the National Convener of PETOOP, Chief Magnus Oraka, for his mobilisation efforts aimed at fostering a better Nigeria.
In his remarks, Oraka called on members to remain courageous and steadfast, linking Nigeria’s economic challenges to what he described as leadership deficiencies.According to him, effective governance requires competence, foresight and experience in managing resources, urging Nigerians to prioritise these qualities in future leadership choices.

Also speaking, the Rivers State Coordinator of PETOOP, Mrs. Becky Napoleon, said the group represents a collective movement driven by conviction and a shared vision for national transformation.

She noted that the initiative is focused on inspiring action and generating practical solutions to the country’s challenges through unity and purposeful engagement.

“Our coming together is based on personal conviction and a shared belief in a better future for our country and generations to come,” she said, adding that meaningful transformation requires collective effort.

The Bayelsa State Coordinator, Mr. Ijaja Alabi, also addressed participants, aligning with the group’s message of unity and commitment to national development.

The event marks a significant step in PETOOP’s expansion efforts across the South-South region as it intensifies mobilisation activities ahead of the 2027 elections.

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