Echotitbits – Nigeria News

Tag: business regulation

  • Court declines bid to halt Nigeria’s new tax laws, keeps January 1 rollout intact

    Court declines bid to halt Nigeria’s new tax laws, keeps January 1 rollout intact

    2026-01-01 07:10:00
    Reporting by Vanguard indicates an FCT High Court refused to restrain the Federal Government from proceeding with the January 1 implementation timeline for Nigeria’s new tax laws.

    The suit sought an urgent stop order via an ex-parte request, but the court declined, allowing implementation to proceed while substantive issues remain pending.

    The decision lands amid public controversy over the reforms, including claims of discrepancies between passed and gazetted versions.

    Reuters separately quoted President Tinubu calling the reforms a “once-in-a-generation” reset and stating “No substantial issue has been established” to justify halting implementation.

    Daily Post Nigeria also reported the presidency has “dismissed claims of discrepancies” in the new laws.

    Echotitbits take:

    For businesses, the immediate risk is compliance uncertainty while litigation continues. Watch for official FAQs, enforcement timelines, and any rapid ‘clean-up’ amendments that resolve document-version disputes.

    Source: Vanguard — January 1, 2026 (https://www.vanguardngr.com/2025/12/court-declines-to-stop-implementation-of-new-tax-laws-adjourns-case-to-jan-9/)

    Vanguard 2026-01-01

    Photo Credit: Vanguard

  • Nigeria’s Tax Agencies Can’t Just Debit Your Account — Oyedele Warns

    Nigeria’s Tax Agencies Can’t Just Debit Your Account — Oyedele Warns

    Photo Credit: The Punch
    2025-12-25 09:00:00

    According to The Punch, Presidential Fiscal Policy and Tax Reforms Committee chair Taiwo Oyedele says tax authorities cannot simply “dip hands” into bank accounts without going through due legal process. He explained that while a “power of substitution” process exists, it is not a shortcut to bypass the courts.

    Oyedele said the typical pathway requires an assessment, notice, and (where disputed) a legal determination before any enforcement action against a taxpayer’s funds. He framed the issue as a rule-of-law matter that protects both citizens and businesses from arbitrary action.

    The comment comes amid recurring complaints from individuals and SMEs about sudden debits and bank restrictions linked to tax compliance disputes, with Oyedele urging taxpayers to understand their rights and challenge improper actions through lawful channels.

    Separately, BusinessDay quoted Oyedele saying, “Nobody will debit your bank accounts without a court order,” while TheCable reported him stressing, “Even if you have N1 billion in your account… nobody can debit your bank account without a court order.”

    Echotitbits take: This is an important signal to calm public anxiety around tax enforcement. Watch what FIRS and state IRS agencies do next—policy clarity is one thing; operational compliance across banks and tax offices is another. Expect more taxpayer education, and possibly stronger complaint-resolution channels, if the reforms team wants legitimacy.

    Source: The Punch — December 25, 2025 (https://punchng.com/tax-agency-cant-debit-accounts-without-court-order-oyedele/)

    The Punch 2025-12-25