Senate President Godswill Akpabio says reports suggesting that the Department of State Services (DSS) has taken over the national assembly premises to stop an alleged impeachment plot against him is false.

The reports said the secret police had taken over all the entrances of the assembly’s complex on Tuesday.

Speaking on the floor of the senate, Akpabio dismissed the reports as “fake news”

The senate president jocularly said those behind the reports may be seeking revenue as a result of the traffic they could get on their websites.

“[They said DSS] has surrounded the national assembly to possibly stop the impeachment of principal officers,” he said.

“There is no limit to social media… we are sitting down here doing our work peacefully oblivious of the mischief.

“Which committee do we refer this to? (laughter)

“I understand that they are being paid if they have a lot of traffic, but I hope the public is aware that this is total fake news.”

Akpabio referred the matter to the special duties committee to report back “as soon as possible”.

[TheCable]

Star Nollywood actress Bimbo Akintola is speaking about the heavily talked about topic of celebrity earnings vs the lifestyles they portray on social media. This is a discourse that has been happening for years now, and during a new interview, Bimbo Akintola also raised her own questions about the lifestyle after exposing the realities of what major names like IrokoTV and Africa Magic pay for their movies. Here's everything Bimbo Akintola said.

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Speaking about how the lifestyle that actresses portray on social media don't match up with the realistic realities of being an actress in Nollywood, Bimbo Akintola said:

BIMBO AKINTOLA: For a lot of actresses, people can't understand where the money is coming from. Cuz we all know what the industry is about. We all know what people earn. We all know what you can earn. Except you have money from home, maybe you're from a rich family, then some of the lifestyle we see especially on social media can be real. And if it's real, where is it from?

Being truthful, people come up to me and they say "look at actresses, they're very rich" and I say I don't know about that because me, I'm not rich. I say "when you see them, ask them what they do." I say it all the time. I say "ask them what they do." Because we all know how much them dey sell film na. Iroko, has Iroko passed 4 million? Is it not 4 million naira, or 5 max? That's how much a whole film is na. No be so? We all know how much e dey sell for Africa Magic, Africa Magic just went back to N4 million. They went down to 1.2, a whole film! All of us inside plus crew plus everybody, we know how much it is. And then yes, there is also Netflix and Netflix is international so obviously, the money is also bigger. But we also know what people earn for cinema films. We started with cinema before Netflix and that boosted people, but we also know how much we make for those films.

So, for a lot of actresses that I see, I don't know if the money is from home, maybe they're from very rich homes. Or there's other businesses that they're doing. Because there has to be with the amount of wealth that some of our colleagues show.

And then of course we've also heard stories of actresses being wanted by politicians, actresses dating politicians, actresses doing stuff with politicians and getting paid for it. So we've all heard that, and we all know that things like that do happen. But it's not just actresses that do that, women in Nigeria do that, because the poverty level is pretty high, isn't it? So a lot of women are on the level of whatever I can do to sustain myself and my family, I'm gonna do it.

….reduce tax burden on Nigerians, CISLAC tells FG

As hardship grips Nigerians, Oxfam in Nigeria raised alarm on Tuesday over the alarming trend of over 99% of wealthy Nigerians evading taxes while millions suffer from hunger.

This assertion was made during the presentation of two comprehensive studies titled Income and Wealth Inequality in Nigeria: Trends and Drivers and Taxing the Rich: Fair Tax Monitor in Abuja.

According to Oxfam, the reports highlight a deepening inequality crisis across the country. Despite being the fourth-largest economy in Africa, the benefits of economic growth are disproportionately concentrated among a small elite, leaving millions of Nigerians trapped in poverty.

The studies were conducted by Oxfam in collaboration with the Tax Justice Network Africa and the Civil Society Legislative Advocacy Centre (CISLAC). They explore the structural causes of inequality in Nigeria, focusing on issues related to income, wealth, gender, and regional disparities. The findings are based on statistical data, expert analysis, and contributions from key policy stakeholders.

Oxfam’s analysis reveals a staggering wealth gap in Nigeria, calling for the adoption of progressive wealth taxation and increased social investment to bridge the growing economic and social divide before a potential social crisis erupts.

The reports indicate that only 40 of Nigeria’s wealthiest citizens are compliant taxpayers, according to the Federal Inland Revenue Service (FIRS) and John Bean Technologies Corporation (JBT). This represents a compliance rate of just 0.035%, implying that over 99% of the country’s wealthiest individuals evade or avoid paying taxes.

To address these issues, Oxfam urges the Nigerian government to implement several key measures:

Increase Social Spending: Currently, Nigeria allocates only 2-3.5% of its budget to education and 4-7% to healthcare, well below global standards. The government should raise social sector spending to at least 10% of the budget in health, education, and agriculture.

Implement Progressive Taxation: Establish a wealth tax targeting high-net-worth individuals. A 1% tax on net worth over $1 million could generate approximately $7.5 billion annually, which could fund critical social programs.

Invest in Human Capital Development: Enhance education, job creation, and healthcare, particularly in rural and underserved populations. Improving wages, reducing corruption, and expanding educational opportunities—especially for women and girls—will enhance Nigeria’s Human Development Index (HDI) by 2030.

Support Smallholder Farmers and Reform Agriculture: Strengthen policies that improve access to credit, land, and rural infrastructure for smallholder farmers. Prioritizing women’s land rights and promoting sustainable farming practices will help bridge the rural-urban divide.

Reform Land Policies: Establish a National Land Commission, conduct a National Land Audit, and ensure that land redistribution programs are transparent and inclusive, particularly regarding gender disparities.

Collaborate with Civil Society: Non-state actors, including civil society organizations, the private sector, and community groups, should advocate for pro-poor policies, hold the government accountable, and promote gender equality.

Develop a Comprehensive Wealth Registry and Strengthen Tax Enforcement: This will ensure that high-net-worth individuals contribute their fair share to the nation’s revenue.

In his address, Anwual Rafsanjani, Executive Director of CISLAC, urged the government to implement a Net Wealth Tax, raise the Capital Gains Tax to align with global best practices, and exempt basic goods from VAT while introducing luxury taxes on high-end items such as private jets, luxury cars, and yachts.

He further proposed that the government fully exempt Nigerians earning below the minimum wage or less than N840,000 annually from Personal Income Tax (PIT), while raising the top tax rate to at least 40% for the top 1%. Rafsanjani also advocated for the introduction of an Inheritance and Gift Tax targeting estates exceeding N50 million, along with renegotiating Double Taxation Agreements (DTAs) that disproportionately benefit multinational corporations to strengthen Nigeria’s tax sovereignty.

The Economic and Financial Crimes Commission on Tuesday arrested a radio host, Favour Ekoh, in connection with an alleged N700 million Ponzi scheme.

The anti-graft agency accused Ekoh, who anchors the “Prime Time” programme on Urban Radio 94.5FM in Enugu State of luring unsuspecting investors into a fraudulent investment scheme, promising exorbitant returns.

A statement by the EFCC Head of Media and Publicity, Dele Oyewale, stated that Ekoh allegedly lured her victims into investing in a scheme called ‘Life Trading under Leverage Index Limited’, where she promised a 10 per cent return on investment.

Oyewale said, “On Monday, October 14, 2024, a team of operatives from the Enugu Zonal Directorate of the Economic and Financial Crimes Commission visited Urban Radio Enugu to invite Favour Ekoh for questioning regarding her involvement in an alleged N700m Ponzi scheme fraud, which has affected about 50 victims.” 

“The victims claimed that after investing their money in the company located at No. 1 Colliery Street, Okpara Avenue, Enugu, the company shut down operations without returning their principal or profits.”

Oyewale added that Ekoh was the primary link to the victims, many of whom were left stranded after the company’s sudden disappearance.

“Ekoh’s role as the host of Prime Time made her a trusted figure, which she allegedly exploited to promote the fraudulent scheme.

“When our operatives arrived at the radio station, holding a warrant for Ekoh’s arrest, they identified themselves to the station’s Managing Director, Bamikole Owoyomi, and explained their mission.

“However, a staff member called the chairman of the station, who ordered that the building’s gates be locked, effectively holding our officers hostage.”

The EFCC added that the situation necessitated a rescue operation.

Oyewale said, “In response to the unlawful detention of our officers, a rescue team was deployed, leading to the arrest of Owoyomi, Ekoh, and two security guards involved in the obstruction.

“The operatives acted within the law, and no equipment at the radio station was tampered with.”

Oyewale noted that Ekoh was not arrested while on air, stressing that “the nature of the fraudulent dealings required a sting operation to ensure her apprehension.”

After being allowed to make a statement at the EFCC Enugu office, Ekoh, along with Owoyomi and the security guards, was released.

“Owoyomi and the guards were arrested for obstructing justice but have since been released after making their statements,” the EFCC added.

The EFCC reiterated its respect for the media as the fourth estate of the realm and a critical stakeholder in the fight against corruption.

However, the commission condemned the actions of the radio station’s staff, stating that the precipitate and unlawful obstruction of EFCC officers from carrying out their duties was unacceptable.