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Just in: Tinubu Govt To Tax Yahoo Boys Under New Tax Bill
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By Kayode Sanni-Arewa
The Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele has said that illicit funds in Nigeria such as laundered money or proceeds of crimes will also be taxed under the controversial tax reform bill.
Oyedele made the assertion when speaking on an X space hosted by Nairametrics in partnership with Business Day, BudgIT, and CODE
He explained that the government will rely on data and intelligence reports to track illicit funds of Nigerians and tax them before probing the sources of such funds.
He said such tax will be collected through what he tagged a “voluntary disclosure programme”, in which people will declare the source of their funds whether legal or illegal.
“Yes, we have provisions (for illicit funds) in those bills. You have to pay tax regardless of the source of the income, and once we find that you have revenue, including from the international data we’re going to be receiving, and you can’t explain it, you have to pay the tax.
“But for people to be able to do that almost seamlessly, we plan to do a voluntary disclosure programme, where we give the people the opportunity to self-declare before we now come down on them because this time around there is going to be data and everybody will know it is not a joke,” he clarified.
Govt will discover revenue through intelligence
Oyedele further explained that the government will find out the revenue of citizens whether a citizen discloses or not.
“We are going to write you and tell you, “This is how much you have in your account”, the number of bank accounts that you have; how much money you spend on your payment card; the money you have with investment accounts and asset management, stock accounts, how many times you have travelled abroad.
“I don’t want to scare anybody but these are pieces of cake that they have been doing in small, large, developed, underdeveloped countries for years. So we are not even doing anything that is novel, we are just trying to be at par with the rest of the world.”
It will help fight corruption
Oyedele also noted that expanding the tax net to the underworld of crimes will help Nigeria fight corruption.
He said: “We think this will also help us to fight corruption because if we want to do this seriously, this is how to tackle corruption.
“Because I find money that you can’t explain, then I collect the tax fast, then I come back to say “by the way, where did you get the money from?”
He added that the bill makes provision for an Ombudsman to ensure that taxpayers are not cheated and overtaxed. He said the Ombudsman would be legally empowered to function
“The Ombudsman can also bite. And it is not just about protecting the vulnerable person, you come in and just vent. The Ombudsman has the means and resources to intervene immediately. And there are consequences for the revenue authority if they don’t listen to you, including legally.”
What you should know
The tax bill provides relief for low-income earners and small businesses as they would be exempt from income taxes and value-added taxes.
However, it is facing strong resistance from the Northern part of the country, where political stakeholders say it would not benefit the region.
Virtually all governors in the Northern region have opposed the bill.
No fewer than five suspected Islamic State West Africa Province (ISWAP) terrorists has been reportedly killed in a premature explosion while assembling explosives in Marte Local Government Area of Borno State.
According to Zagazola Makama, a counter insurgency reporter, the terrorists who died in the explosion include an alleged medical officer and four improvised explosive device (IED) specialists.
Intelligence sources told Zagazola Makama that the incident occurred at Maina Daya Village, located between Sabon Tumbu and Jubilaram, about 29 kilometres east of Monguno.
According to the sources, the explosion killed Usman Dan Fulani, described as an ISWAP medical officer, alongside two foreign Arab IED technicians and two ISWAP bomb-making experts.
The sources said the incident occurred while the terrorists were allegedly preparing improvised explosive devices for deployment, suggesting the group was planning further attacks along key military supply routes in the Sector 1 area of Operation HADIN KAI.
The Clerk to the National Assembly (CNA), Kamoru Ogunlana has described the 2026 House of Representatives Open Week as a vital platform for deepening democratic governance, promoting transparency and strengthening the relationship between Parliament and the Nigerian people.
Speaking at the opening ceremony of the 2026 House of Representatives Open Week in Abuja, the CNA, on behalf of the National Assembly Management, welcomed dignitaries from across the country and commended the leadership of the House for sustaining an initiative that has become a symbol of parliamentary openness and public engagement.
The event attracted a wide range of stakeholders, including the President of the Senate, the Speaker of the House of Representatives, members of the judiciary, lawmakers, representatives of the executive arm of government, diplomats, traditional rulers, religious leaders, civil society organisations, development partners and members of the media.
The event attracted a wide range of stakeholders, including the President of the Senate, the Speaker of the House of Representatives, members of the judiciary, lawmakers, representatives of the executive arm of government, diplomats, traditional rulers, religious leaders, civil society organisations, development partners and members of the media.
According to the CNA, the Open Week has evolved into one of the most significant expressions of democratic participation in Nigeria, providing citizens with an opportunity to understand legislative processes and directly engage with their elected representatives.
He noted that the House of Representatives occupies a unique position within Nigeria’s democratic framework as the chamber with the broadest representation of the people, drawing members from every federal constituency across the country.
“The House serves as the closest legislative institution to the people, translating local aspirations into national policies and legislation,” he said.
A leader of the Nigeria Democratic Congress and former Chief Whip of the Senate, Sir. Rowland Owie, has expressed dissatisfaction over the change of the name of the party’s candidate for the Edo South senatorial district in the 2027 general election.
The Independent National Electoral Commission portal had the picture of Sunny Aguebor as the senatorial candidate while it had the name Epelle-Asemota Bridgitte Osayuki as the candidate.
Reacting to the development in a telephone interview, Owie said Aguebor emerged as the candidate of the party in a primary election monitored by the INEC and alleged that a national officer of the party may be responsible for the current development.
Owie declared the development as fraud that would not stand, noting that Aguebor is the Edo South Senatorial candidate.
He said, “The truth is fraud cannot stand. The duly nominated candidate for Edo South NDC is Sunny Aguebor.
His primary election was monitored by the INEC and we have the CTC of his nomination from INEC.
“The party uploaded the information to INEC portal. What they were trying to do is to put that lady’s name but they couldn’t remove Aguebor’s picture.
“Whoever did it is a criminal, it is because we want peace in the party otherwise such a person should have been arrested. It is a criminal act. The NDC is a corrective party, we can’t be part of fraud.
“We have written to the INEC to make the necessary corrections. The person behind the fraud is a leader in the South South and we can get him arrested for forgery.”
When contacted, the state chairman of the party, David Olukoga said the party was still working with the INEC over the issue.
“Those are social media issues, when we are ready, we will publish our lists, we are not done with INEC, when we are done, they will give us our list and we will publish them,” he added.
Five ISWAP bombs reportedly wasted as IED suddenly explodes in Borno
HoR open week will bridge gap between legislature and Nigerians-CNA
Reaction as portal shows NDC candidate’s picture, opponent name
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