Connect with us

News

Tax Reform Bills: FIRS Changes To Nigerian Revenue Service

Published

on

The Federal Inland Revenue Service (FIRS) would now be known as the Nigerian Revenue Service (NRS) following the signing into law of the Tax Reform Bills by President Bola Tinubu.

This development was announced on Thursday by the Chairman of NRS, Zacch Adedeji, during a press conference at the State House in Abuja, shortly after President Tinubu signed the bills into law.

According to him, apart from the change of name, the service would also now have an expanded scope to also focus on non-tax collection and coordinate all tax-related efforts.

“We were Federal Inland Revenue Service two hours ago, but through the assent (of the Tax Reforms Bills) by Mr. President, we are now the Nigerian Revenue Service, which has expanded its scope to also focus on non-tax collection, increase efficiency and actually serve as the implementer of all other major tax that we have,” Adedeji said.

JomogNews recalls that President Bola Ahmed Tinubu on Thursday gave Presidential Assent to the four Tax Bills to become Law at a brief ceremony held at the Presidential Villa, Abuja.

Shortly after the signing, FIRS, now known as NRS, in a statement via its official 𝕏 account, said the development marks the beginning of a new era in tax administration in Nigeria.

It added that the new tax laws are expected to sustain revenue generation, strengthen Nigeria’s revenue base and contribute to long-term national development.

“On Thursday, June 26, 2025, President Bola Ahmed Tinubu officially signed into law a set of transformative Tax Bills aimed at reforming Nigeria’s tax system.

“This landmark move signals the beginning of a new era in tax administration, designed to promote efficiency, equity, and sustainability in revenue generation.

“The newly enacted Tax Laws are expected to reinvigorate the country’s tax structure, ultimately strengthening Nigeria’s revenue base.

“By modernizing the tax framework, the reforms promise to enhance economic growth, support public service delivery, and contribute to long-term national development,” the statement read.

News

Rivers Assembly Suspends Impeachment Move Against Fubara After Tinubu’s Intervention

Published

on

By

The Rivers State House of Assembly has officially suspended impeachment proceedings against Governor Siminalayi Fubara and his deputy, Ngozi Odu, following President Bola Tinubu’s intervention.

The House moved the motion to halt the impeachment process on Thursday at its resumed sitting in Port Harcourt, the state capital.

JomogNews had reported that during its first sitting of 2026, the House had begun impeachment proceedings against the governor and his deputy over allegations of gross misconduct, including the demolition of the State Assembly complex and alleged spending without legislative approval, among other claims.

More details later….

 

 

Continue Reading

News

Reserves Surge To $48.5bn As Nigeria Reclaims 2013 Peak Levels

Published

on

By

Nigeria’s foreign exchange (FX) reserves have reached $48.5 billion, their highest level in nearly 13 years.

This milestone, confirmed by data from the Central Bank of Nigeria (CBN), surpasses previous multi-year peaks and represents the strongest balance since May 14, 2013, when reserves stood at approximately $48.51 billion.

However, the data showed that the foreign reserves increased steadily by 6.45 percent or $2.94 billion year-to-date, from $45.56 billion reported on January 1 to $48.5 billion.

Further checks showed that the FX reserves figure was $48.36 billion on Monday.

According to the CBN, FX reserves are assets held on reserve by a monetary authority in foreign currencies, which are used to back liabilities and influence monetary policy.

On December 22, 2025, the apex bank projected that the country’s external reserves would rise to $51.04 billion in 2026, saying the increase will be supported by FX reforms.

“Reforms in the foreign exchange market are expected to sustain exchange rate stability, while external reserves are projected to increase to US$51.04 billion,” CBN said.

On February 10, Olayemi Cardoso, governor of CBN, said the bank will do “whatever it takes” to safeguard the value of the naira, while strengthening the country’s external reserves.

Looking ahead to 2030, he said the CBN’s targets include achieving single-digit inflation and growing foreign exchange (FX) reserves driven by non-oil exports, foreign direct investment, and diaspora remittances.

 

Continue Reading

News

Ogun Police Launch Investigation Into TikToker Mirabel’s Sexual Assault Claims

Published

on

By

The Ogun State Police Command has launched an investigation into sexual assault allegations made by a TikToker known as Mirabel (@mirab351), who is currently receiving treatment in an Intensive Care Unit (ICU).

The case gained widespread attention after she posted emotional videos on Monday, February 16, detailing an attack she claimed occurred at her home the previous Sunday.

The command’s Public Relations Officer, Oluseyi Babaseyi, disclosed the development on Thursday while speaking on The Morning Brief.

Babaseyi confirmed that Mirabel voluntarily visited the Ibafo Police Division on Tuesday, February 17, to lodge a formal complaint and was subsequently admitted to the hospital for medical care due to her unstable condition.

“When the DPO in Ibafo met with her, she was taken to the hospital for medical analysis. She wasn’t as stable as necessary, but we ensured the investigation continued.

“As we speak, she is in the intensive care unit getting appropriate care. Her medical well-being is more important to us at this point. When she is stable, we can now continue investigations and get the necessary facts,” Babaseyi said.

According to Babaseyi, the incident reportedly occurred in Ogijo, a border community between Ogun and Lagos states.

The police have established that Mirabel was not arrested, but rather, she is being treated as a victim.

The command urges individuals with useful information to come forward and assist with the investigation.

“She was not arrested by the police. She reported a case, and we are investigating. Nothing like her arrest happened,” he said.

“If the allegation is established to be true, the perpetrator will be arrested and charged to court appropriately. Otherwise, the law also addresses giving false information,” the police stated.

The police said they will rely on evidence to reach a logical conclusion and take appropriate action.

“We advise people not to jump to conclusions based on emotions. We are investigating and will rely on evidence to reach a logical conclusion,” Babaseyi said.

Continue Reading

Trending