The Nasarawa State Governor, Abdullahi Sule, has rejected claims that the 36 state governors are against the tax reform bills proposed by President Bola Tinubu.

According to him, it is wrong to say the state governors are against the bills.

Speaking on Monday during a special town hall event by Channels Television on the Tax Reform Bills, Governor Sule disclosed that the demand of the state governors is that the bill be withdrawn to allow for further consultations and clarification of grey areas.

According to him, the bill is not a problem, but they need answers to some questions regarding the provisions of the bill and their request is that the bill be withdrawn in order to first answer the questions.

“The issue of increasing the VAT from 20 per cent to 60 per cent at the point of generation, and I am happy that Taiwo said it has now changed not just at the point of generation but also consumption, that is fine.

“Those were some of the issues mentioned by the governors. The governors said, you know what, why don’t you withdraw the bills, let us discuss it, let us understand it,” Governor Sule said.

According to him, the Townhall meeting, which happened on Monday, as well as some other steps, should have been taken earlier by the Tax Reform Committee before the bill was forwarded to the National Assembly.

Responding, the Chairman of the Presidential Tax Reform Committee, Taiwo Oyedele, appreciated Governor Sule for the feedback.

He also revealed that the committee had tried to enlighten Nigerians and other stakeholders before the bill was sent to the National Assembly, but the response was not encouraging.

Oyedele, however submitted that the committee is ready to repeat some of the processes in order to clarify grey areas to members of the public and stakeholders.

The 2023 presidential candidate of the Labour Party (LP), Peter Obi, has backed the administration of President Bola Tinubu, over the tax reform bill, stating that it is a critical issue.

Naija News reports that the four tax reform bills proposed by Tinubu are stoking anger in Northern Nigeria, with groups in the region demanding the suspension of passage of the legislation.

The Borno State Governor, Babagana Zulum, also insisted that if the tax bills are passed into law, only Lagos and Rivers state will benefit.

However, a statement from the presidency explained that Tinubu proposed the reforms due to a need to streamline tax administration in Nigeria and make the operating environment conducive for businesses.

In a statement via X on Monday, Peter Obi, the former Governor of Anambra State, stated that there is nothing wrong with pursuing the tax reform bills.

However, Peter Obi asserted that a public hearing on tax reform is essential for Nigerians from all walks of life to engage meaningfully.

According to Obi, the federal government must sensitize the masses and secure their buy-in for policy changes.

The statement reads, “Tax reform is a critical issue, and there is nothing wrong with pursuing it. However, such reform must be subject to robust and informed public debate. A public hearing on tax reform is essential, allowing Nigerians from all walks of life to engage meaningfully. This is how we build public trust and ensure inclusivity in policymaking.

“Matters of this magnitude require extensive deliberation and careful consideration—they should never be rushed. Public hearings must be conducted to allow for diverse opinions and inputs. Such public hearing would also enable the broadest spectrum of public opinion to be reflected in public policy.

“When considering tax reforms and similar issues, it is insufficient to focus solely on the benefits to the government, particularly in terms of increasing revenue collection. We must also take into account the overall impact on the nation and the sustainability of all its regions.

“Furthermore, the government must sensitize the people and secure their buy-in for any policy changes. Trust and legitimacy are the foundation of effective governance, and without them, even the best-intended reforms may fail.

“Let us prioritize transparency, deliberation, and public engagement in charting the path forward. This is how we build a truly participatory democracy.”

Nigeria secures $2.2bn Eurobonds to finance 2024 budget deficitThe Debt Management Office (DMO) says Nigeria has successfully priced $2.2bn in Eurobonds that will mature in 2031 (6.5 years) and 2034 (10 years) in the international capital markets.

In a statement on Monday, the DMO said the bond has $700m and $1.5bn placed in the 2031 and 2034 maturities, respectively.It said the proceeds from bond issuance would be used to finance the 2024 fiscal deficit and support the government’s budgetary needs.It said the notes were priced at a Coupon and Re-offer Yield of 9.625 per cent and 10.375 percent, respectively.

“Nigeria is pleased to have attracted a wide range of investors from multiple jurisdictions including the United Kingdom, North America, Europe, Asia, Middle East and participation from Nigerian investors, which it views as an expression of continued investor confidence in the country’s sound macro-economic policy framework and prudent fiscal and monetary management,” it said.

The statement further said the transaction attracted a peak order book of more than $9bn. This underscores the strong support for the transaction across geography and investor class.

“With respect to investor class, demand came from a combination of Fund Managers, Insurance and Pension Funds, Hedge Funds, Banks and other Financial Institutions,” it added.Commenting on the successful pricing, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun, said: “Today’s successful issuance signposts increasing confidence in ongoing efforts of the President Bola Ahmed Tinubu, GCFR, administration to stabilize the Nigerian economy and position it on the path of sustainable and inclusive growth for the benefit of all Nigerians. The broad range of investor appetite to invest in our Eurobonds is encouraging as we continue to diversify our funding sources and deepen our engagement with the international capital markets.”

According to the Governor of the Central Bank of Nigeria, Olayemi Cardoso, its outcome underscores the growing confidence of investors and the resilience of the Nigeria credit, and evidence of our improved liquidity position and continued access to international markets to support the financing needs of the government.UK Listing Authority and available to trade on the London Stock Exchange’s regulated market, the FMDQ Securities Exchange Limited and the Nigerian Exchange Limited.

“The proceeds from this Eurobond issuance will be used to finance the 2024 fiscal deficit and support the government’s budgetary needs. Nigeria mandated Chapel Hill Denham, Citigroup, Goldman Sachs, J.P. Morgan and Standard Chartered Bank as Joint Bookrunners. FSDH Merchant Bank Limited acted as Financial Adviser on the issuance,” she added

The Chairman, Senate Committee on Ecology and Climate Change, Seriake Dickson (PDP, Bayelsa West), has said the National Assembly will pass the tax reform bills despite opposition from different quarters.

Dickson, in an interview with newsmen in Abuja on Monday, said the bills would be passed like the Petroleum Industry Bill (PIB), stressing that heavens would not fall when the tax bills are consequently passed.

President Bola Tinubu had on October 3, 2024, transmitted to the National Assembly, four tax reform bills, in a letter, read by the Senate President Godswill Akpabio, and Speaker of the House of Representatives, Tajuddeen Abbas, during separate plenaries of the two chambers.

Tinubu said the bills would bolster Nigeria’s fiscal institutions, adding that they were in line with his government’s broader development objectives for the country.

But Nigerians including some governors, traditional rulers, civil society organisations, federal lawmakers and others have kicked against the bills.

Recall that the Senate had last week passed the bills for second reading while the House of Representatives is yet to act on the bills.

Dickson also dispelled the claim that the planned public hearing on the bills could be chaotic if proper consultations were not done, and urged those opposed to the bills to attend the public hearing with facts if they have issues with any sections of the proposed fiscal legislations.

Dickson, former Governor of Bayelsa State said, “The PIA was passed. We wanted 10% which was what Yar’adua proposed. They (federal lawmakers) reduced it to 3%. Heaven did not fall. This tax reform bills will pass and heavens will not fall.

“The Senate has passed the bills for second reading. Public hearing will take place and people should get ready to present their positions. The tax bill is a proposed law like every other and it has to go through the normal legislative process.

“Right now, taxes from Bayelsa State are paid to Lagos State and I don’t want that to continue. When there is consumption of any goods or services from any state it should be calculated and paid to that state.

“Now there is an opportunity to review the tax laws, to correct the anomalies and that is why I’m in support. I know there are states that are feeling that when they apply the new sharing formula, they will earn less. It’s for them to raise those issues and bring the statistics. I don’t go by sentiments. I go by what is right and in the national interest.”

The Chairman, Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, on Monday explained that the objective of the tax reform bills currently before the National Assembly is to fix Nigeria’s economy for shared prosperity and not to generate more money as being speculated.

Oyedele made the clarification when he was featured as one of the panellists on Channels Television’s Townhall on Tax Reforms.

In the past few weeks, the bills have pitched some state governors against the Federal Government, with the governors calling for the withdrawal of the bills to create room for more consultation.

On Sunday, Borno State Governor, Prof Babagana Zulum, also called on his colleagues and Northern stakeholders to reject the bills, insisting that they would damage the region’s economy if implemented.But Oyedele said there are many misconceptions being peddled about the bills when it was obvious many of the critics had not taken their time to properly vet them.

He said, “Our economy is underperforming. We are not growing enough, poverty is widespread and we do not have inclusive and sustainable growth, and there can’t be shared prosperity unless we address those issues. While we face a myriad of issues, the fiscal system, including taxation clearly, is one major area.If I want to summarise it, I would say that the fiscal and tax system is like the knee on the neck of our economic prosperity as a people. It is important to state that the primary objective of the reforms is not to generate more revenue. I see people get that wrong every time. It is to fix the economy in a way that there can be shared prosperity.

If your businesses are growing, expanding within and outside the shores of this country, if our individuals are earning income and thriving, then taxes will be a natural consequence of their prosperity. That is really the fundamental objective of the reforms. So, we know that the work we’re asked to do for our country is such an enormous amount of work, but critical.”

Continuing, Oyedele also explained why many felt the Presidency was in cahoots with the National Assembly on the bill.

According to him, they planned to get the reform bills sorted out within a year as Nigeria does not have to wait for four to five years to get it done, saying, “If we’re going to take all our time, we would have asked for about four or five years. We knew Nigeria had no luxury of time. We decided we should put in all our efforts to get this done within one year. We have tax laws that are very old and no longer fit for mobiles, including those we inherited from our colonial masters.

“So, we said we’ll use the opportunity of this reform to rewrite those laws so that the laws made by Nigerians for Nigeria to be able to drive our prosperity going forward. And that’s what led to the four bills that we have before the National Assembly today that have been properly summarised.

“So, for households and individuals, including our young population, these bills are looking to exempt low-income earners completely from tax, those who earn about N83,000 per month or N1 million a year.”.

The Kano State House of Assembly on Monday rejected the Tax Reform bills currently under consideration at the National Assembly.

At a plenary, presided over by the Speaker, Isma’il Falgore, the lawmakers kicked against the bills after extensive deliberation.

The Majority Leader, Lawan Husseini (ANPP-Dala) introduced a motion of ‘urgent public importance,’ emphasising the need for northern lawmakers and the Conference of Speakers to prevent the passage of the bills.

Mr Husseini argued that if passed into law, the bills would not benefit the Northern States.

He condemned the Senate’s decision to approve the bills, saying, “We view it as a deliberate effort to sabotage the economy, increase hardship and further impoverishing the region.”

Mr Husseini expressed concern over the proposed VAT allocation system, noting that states like Lagos, where major corporations such as Nigerian banks, telecommunications companies, and multinational companies were headquartered, would receive the largest share of the VAT.

“Lagos and its environs would account for 80 percent of the VAT collected in Nigeria, leaving northern states with a minimal share,” he said.

He warned that if allowed to scale through, the bill would further weaken northern states, potentially rendering some unable to pay salaries and worsening poverty and hardship.

Mr Husseini expressed concern over the proposed VAT allocation system, noting that states like Lagos, where major corporations such as Nigerian banks, telecommunications companies, and multinational companies were headquartered, would receive the largest share of the VAT.

“Lagos and its environs would account for 80 percent of the VAT collected in Nigeria, leaving northern states with a minimal share,” he said.

He warned that if allowed to scale through, the bill would further weaken northern states, potentially rendering some unable to pay salaries and worsening poverty and hardship.

Supporting the motion, Salisu Mohammed (APC-Doguwa) urged the upper legislative house to focus on more pressing national issues, such as attention insecurity and unemployment, instead of rushing the tax reform bills through the legislative process.

Similarly, Murtala Kadage (ANPP-Garko) called for unity among lawmakers to prevent the bills from passing, for the benefit of the region.

The house called on northern members of the Senate and House of Representatives, along with the Conference of Speakers, to take a swift and decisive action to block the passage of the bills.

The Economic and Financial Crimes Commission (EFCC) has successfully obtained the final forfeiture of a property situated in the federal capital territory (FCT) following a ruling on Monday by Judge Jude Onwuegbuzie of the FCT High Court.

In a statement made available to newsmen, the spokesperson for the anti-corruption agency, Dele Oyewale, noted that the property spans 150,500 square meters and comprises 753 units of duplexes and various other apartments, marking it as the largest single asset recovered by the EFCC since its establishment in 2003.

The individual who forfeited the property was not mentioned, but Oyewale said it belonged to a “former top brass of the government”.

“The road to the final forfeiture of the property was paved by an interim forfeiture order, secured before the same Judge on November 1, 2024,” he said.

“The government official which fraudulently built the estate is being investigated by the EFCC. The forfeiture of the asset is an important modality of depriving the suspect of the proceeds of the crime.

“In this instance, the Commission relied on Section 17 of the Advance Fee Fraud And Other Fraud Related Offences Act No 14, 2006 and Section 44 (2) B of the Constitution of the 199 Constitution of the Federal Republic of Nigeria to push its case.

“The Establishment Act of the Commission places huge emphasis on asset recovery.”

The spokesperson for the EFCC stated that the judge determined the respondent failed to provide sufficient justification for retaining the property in question.

Oyewale referenced Ola Olukoyede, the chair of the EFCC, who emphasized that asset recovery is essential in combating corruption economic and financial crimes, and serves as a significant deterrent to corrupt and fraudulent activities.

See images of the recovered asset below:

See images of the recovered asset below:

Finnish authorities have given reasons why the controversial pro-Biafra agitator, Simon Ekpa, cannot be granted bail in Finland.

A Senior Detective Superintendent at Finland’s National Bureau of Investigation, Mikko Laaksonen, told Punch newspaper on Saturday that the Finnish legal system does not permit bail for suspects accused of the kind of offences Mr Ekpa is accused of.

PREMIUM TIMES earlier reported that Mr Ekpa was arrested alongside four others on 21 November on suspicion of terrorist activities.

The Finnish police said Mr Ekpa “has contributed to violence and crimes against civilians in South-eastern Nigeria.”

The District Court of Päijät-Häme later ordered that the pro-Biafra agitator be imprisoned “with probable cause on suspicion of public incitement to commit a crime with terrorist intent.”

He is expected to face charges in May 2025, according to Finnish authorities.

Mr Ekpa was indicted for financing terrorism alongside the four other suspects. The police have a suspicion that the Biafra agitator committed the crime of collecting money in violation of the Finnish Money Collection Act. The Finnish police said he allegedly committed the crimes between 23 August 2021 and 18 November 2024 in Lahti, a town in Finland.

IPOB is a group leading the agitation for an independent state of Biafra, which it wants carved out from the south-east and some parts of south-south Nigeria. The separatist group has been linked to some deadly attacks in the two regions, although it has repeatedly denied its involvement in the attacks.

Meanwhile, hours after the arrest, the IPOB faction loyal to Mr Kanu disowned Mr Ekpa last Friday, explaining that the pro-Biafra agitator was never their member.

When asked if Mr Ekpa’s charges were bailable or if the prosecution was disposed to releasing him on bail, Mr Laaksonen responded, “Finnish criminal procedure/coercive measures do not recognise bail procedure. Our procedure is based on, depending on the case, remand or travel ban as coercive measures for limiting freedom of movement for persons suspected of offences to which such measures are applicable.”

The situation implies that Mr Ekpa will remain imprisoned until May 2025, when he is scheduled to face trial at the District Court of Päijät-Häme in the North European country.

Belgium made history on Sunday by becoming the first country in the world to allow sex workers to sign formal employment contracts, granting them access to benefits such as sick leave, maternity pay, and pensions.

The new law also ensures fundamental rights for sex workers, including the ability to refuse clients, set conditions for their work, and halt an act at any time.

Although the legislation was passed in May, it officially came into effect on Sunday.

“I am a very proud Belgium sex worker right now,” said Mel Meliciousss, a member of the Belgian union of sex workers, UTSOPI, in an Instagram post.

“People who are already working in the industry will be much more protect[ed], and also people who are going to work in the industry also know what their rights are.”

Belgium had already refrained from criminalizing the act of offering or paying for sexual services, focusing instead on penalizing brothels and third parties involved in supporting sex work—such as landlords, bankers, and drivers—under accusations of “pimping.”

However, in 2022, lawmakers voted to decriminalize sex work and refine the definition of pimping, allowing sex workers greater access to essential services without legal obstacles.

The new law extends these efforts by providing sex workers with labour rights equivalent to those in other professions.

These include access to pensions, health insurance, unemployment benefits, family allowances, annual vacations, and maternity leave.

Employers must now obtain authorization, have no prior convictions for sexual assault, human trafficking, or fraud, and maintain clean and safe premises equipped with panic buttons. They are also prohibited from dismissing workers who refuse a client or specific act.

These changes reflect years of advocacy by Belgium’s sex worker union, UTSOPI, which highlighted the precarious conditions faced by workers before these protections.

Many were forced to continue working well into pregnancy or past retirement age due to a lack of benefits.

“This law is a huge step forward, ending legal discrimination against sex workers by allowing a full-fledged contract,” the union stated in May.

The protections apply only to sex workers with formal employment contracts and do not extend to self-employed workers or those involved in pornography or striptease.

Belgium’s reforms stand out even among other countries where sex work has been decriminalized, such as New Zealand, the Netherlands, and parts of Australia, as they provide a new level of comprehensive labor protections.

In the United States, Nevada remains the only state where brothels are legal, while prostitution outside of these establishments remains prohibited.