Business
Lagos Captures 400,000 New Tax Payers In Tax Net
The Lagos State Government last Tuesday said it had brought some 400,000 new tax payers into its tax net in the last one year.
Special Adviser to Gov. Babatunde Fashola on Taxation and Revenue, Mr. Bola Shodipo, said this in Ikeja, at a news conference to mark the governor‘s sixth year in office.
He explained that the development had increased the number of tax payers from the previous 2.7 million to 3 .1million and had resulted in a six per cent revenue growth in the state.
Shodipo, however, said that compliance level in the state was still far from being satisfactory as some five million taxable adults defaulted in tax payments.
“The new 400,000 people that have been captured, through increased advocacy, appeal to conscience and other strategies, are mainly people from the Organised Private Sector.
“We have got some people at the informal sector too, especially at the markets. This is a remarkable improvement but it is not where we want to be as there are still some five million who default.
“Though we have begun enforcement, we are urging voluntary compliance. When people comply, it saves cost.
“People should fulfill their part of the social contract by paying their taxes; this will enable the government to mobilise enough resources and deliver more development in the state,“ he said.
The special adviser said a number of organisations and individuals were being prosecuted by government for tax evasion and about 20 of such cases were at different courts.
He, however, said out of court settlements were being discussed with defaulters who were willing to pay.
Shodipo said the government had set up a revenue complaints centre for tax related issues where residents who were finding it difficult to obtain their tax cards could complain.
On the administration of Land Use Charge, the special adviser said it had improved significantly in the last one year in terms of effective service delivery, data credibility and revenue collection.
Shodipo said the Lagos State Signage and Advertising Agency (LASAA), which is under his supervision, had installed no fewer than 28,460 street directional signs across the state in the last one year.
According to him, the agency has delivered 15 of the envisaged 400 mega adverts carrying bus shelters across the state under a Public-Private Partnership arrangement.
He said that 86,532 houses had also been covered by the agency in the last one year, under its house numbering project.
Shodipo noted that the government had strengthened the monitoring of activities of lottery operators in the state to ensure they kept within the confines of the law.
He called on residents to assist the government in promoting the course of development by paying their taxes and shunning acts that constituted threats to progress.
The Tide learnt that Mr Aderemi Ibirogba, Commisioner for Information and Strategy and Mr. Tunde Fowler, Chairman, Internal Revenue Service were also present at the conference.
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
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