Nigeria Tax Act 2025: FG Clarifies No New Construction or Bank Taxes - Newstrends
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Nigeria Tax Act 2025: FG Clarifies No New Construction or Bank Taxes

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Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele
Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee

Nigeria Tax Act 2025: FG Clarifies No New Construction or Bank Taxes

The Federal Government has dismissed claims that the Nigeria Tax Act 2025 imposes a 25% tax on building materials, construction-related funds, business expenses, or money in bank accounts. The government described the viral video circulating on social media as false and misleading, adding that the law, which has already taken effect, does not postpone implementation until 2027.

Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, said the misinformation misrepresents the objectives of the Tax Act, which are to lower housing costs, support real estate development, and encourage economic growth. He clarified that the video’s claims — that the law would start in 2027 and impose a 25% levy on construction transactions — are both inaccurate.

Under the new law, several housing and construction reliefs have been introduced. Land and buildings are exempt from Value Added Tax (VAT) under Section 185(l), while contractors can recover VAT on materials and services, reducing overall construction expenses. The Withholding Tax (WHT) rate on construction contracts has been lowered to 2%, improving cash flow for developers. Individuals building owner-occupied homes can deduct mortgage interest, and property owners earning rental income may deduct expenses such as repairs, insurance, and agency fees. These provisions are designed to make housing projects more affordable and attractive to investors.

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The Act also offers direct support for renters and low-income earners. Eligible tenants can claim rent relief of up to ₦500,000, equivalent to 20% of annual rent, while rent payments are fully exempt from VAT. Lease agreements below ₦10 million per year, or less than ten times the national minimum wage, are also exempt from stamp duty. These measures are expected to increase disposable income for low-income households and reduce the financial burden of housing.

Incentives under the Act extend to investors and businesses in the construction and real estate sectors. Individuals are exempt from Capital Gains Tax when selling a dwelling house or interest in one. Real Estate Investment Trusts (REITs) distributing at least 75% of dividends or rental income within 12 months are exempt from Companies Income Tax. Manufacturers of building materials, including iron, steel, and domestic appliances, may qualify for tax holidays of up to 10 years, while large businesses could see Companies Income Tax reduced from 30% to 25%. These provisions are intended to encourage investment, stimulate local production, and support the growth of the housing sector.

The Tax Act also includes provisions that relieve workers and small businesses. The taxable value of employer-provided accommodation is capped at 20% of an employee’s annual gross income, excluding rental value. Small companies that qualify under the Act will pay 0% Companies Income Tax, are exempt from charging VAT, and are not required to deduct Withholding Tax from invoices and payments. These measures reduce the compliance burden on smaller businesses and support entrepreneurship.

The committee also clarified what the Act does not include. It does not tax money in bank accounts, does not impose 25% taxes on construction costs or building materials, and does not delay implementation until 2027. Officials described claims suggesting otherwise as misleading and urged Nigerians to rely on verified government sources for accurate information. According to the committee, the Tax Act is intended to make housing more affordable, reduce rent, and stimulate economic growth, not to increase taxes on citizens or businesses.

Nigeria Tax Act 2025: FG Clarifies No New Construction or Bank Taxes

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FG Panel Confirms Ex‑Minister Uche Nnaji Forged His UNN Degree Certificate

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Former Minister of Innovation, Science and Technology, Uche Nnaji
Former Minister of Innovation, Science and Technology, Uche Nnaji

FG Panel Confirms Ex‑Minister Uche Nnaji Forged His UNN Degree Certificate

A Federal Government investigative panel has officially confirmed that former Minister of Innovation, Science and Technology, Uche Nnaji, forged his degree certificate from the University of Nigeria, Nsukka (UNN). The finding comes after a detailed probe into allegations first raised by a PREMIUM TIMES investigation in October 2025.

The seven‑member panel, set up by the Minister of Education, Tunji Alausa, on 23 November 2025, was tasked with examining discrepancies in Mr Nnaji’s academic records. Its work was completed and a detailed report submitted to the ministry in December 2025.

The investigation followed a petition from Mr Nnaji accusing senior UNN officials, including Vice‑Chancellor Simon Ortuanya and former Acting Vice‑Chancellor Oguejiofor Ujam, of unethical disclosure, document tampering and manipulation of his academic records.

The panel was chaired by Rakiya Gambo Ilyasu, Director of the University Education Department in the education ministry, with James Ocheido serving as secretary. Other members included directors from various ministry departments, representatives from the National Universities Commission, and legal and human resources officials.

In carrying out its work, the panel relied on “documentary review, interviews, verification and technical audit”. Investigators visited UNN’s campus in Nsukka, interviewed top officials including the Vice‑Chancellor, Registrar Celine Nnebedum, and examined archival records, transcripts, registry logs, and graduation lists.

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The panel confirmed that Mr Nnaji was admitted to UNN in the 1981/82 academic session to study Biological Sciences, but did not graduate. His name was notably absent from the Senate‑approved 1985 graduation list, and the panel found no records showing he completed all course requirements.

A key piece of evidence was correspondence in his academic file showing that he failed the Virology course (MCB 431AB) and applied to retake it in September 1986 due to illness. However, the panel found no record that he ever retook or passed the failed course.

Despite this, Mr Nnaji had submitted a purported UNN degree certificate dated July 1985 to both the Presidency and the National Assembly of Nigeria during his ministerial confirmation. The panel’s findings confirmed that the certificate was neither issued by UNN nor supported by official graduation records, concluding that the document was forged.

The controversy began when PREMIUM TIMES published an investigation showing that both UNN and the National Youth Service Corps had disowned the degree and NYSC discharge certificates that Mr Nnaji presented. UNN officials, including the Vice‑Chancellor and Registrar, had previously stated that Mr Nnaji neither graduated nor received a degree from the institution, and the NYSC similarly affirmed the discharge certificate he submitted was not authentic.

Mr Nnaji resigned as minister three days after the investigation was published, insisting at the time that his resignation was not an admission of guilt but a way to respect due process. He also approached the Federal High Court in Abuja seeking to prevent UNN and others from releasing his academic records. However, the court did not grant the injunction before UNN responded to a Freedom of Information request confirming his academic records did not support the credentials he presented.

The panel’s conclusion has reignited public calls for prosecution. Legal practitioners and civil society organisations have argued that certificate forgery is a criminal offence under Nigerian law and that resignation should not be the only consequence. Some have urged the government to prosecute Mr Nnaji to serve as a deterrent against academic fraud in public office.

According to recent reports, the Independent Corrupt Practices and Other Related Offences Commission has launched an investigation into the forgery allegations. If the allegations are proven in court, Mr Nnaji could face prosecution and potential sanctions, including being barred from holding public office. Legal experts have also urged reforms to strengthen verification processes for academic and NYSC documentation submitted during public appointments.

FG Panel Confirms Former Minister Uche Nnaji Forged UNN Degree Certificate

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Deputy Speaker Kalu Faces 72-Hour Ultimatum Over NYSC, Law School Records

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Deputy Speaker of the House of Representatives, Benjamin Okezie Kalu
Deputy Speaker of the House of Representatives, Benjamin Okezie Kalu

Deputy Speaker Kalu Faces 72-Hour Ultimatum Over NYSC, Law School Records

The Deputy Speaker of the House of Representatives, Benjamin Okezie Kalu, has been given a 72-hour ultimatum to step aside over allegations of perjury, false representation and discrepancies between his National Youth Service Corps (NYSC) and Nigerian Law School records.

The ultimatum was issued by a coalition of civil society organisations led by the Civil Society Groups of Good Governance during a press briefing in Abuja on Friday.

The coalition said the call was necessary to allow for a transparent investigation into the claims while protecting the integrity of the House of Representatives of Nigeria, where Kalu currently serves as the second-highest ranking lawmaker.

Speaking on behalf of the coalition, the group’s president, Dominic Ogakwu, said the demand was rooted in constitutional provisions that require accountability from all public officials.

He cited Chapter 1 of the Constitution of the Federal Republic of Nigeria 1999, which establishes the supremacy of the constitution and mandates compliance by all authorities and citizens.

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According to Ogakwu, the coalition is seeking clarification over how Kalu allegedly obtained both an NYSC discharge certificate and a Nigerian Law School certificate during overlapping periods, which they claim may violate the rules guiding both institutions.

The group questioned how Kalu could have sworn the mandatory oath under the National Youth Service Corps Act committing to a continuous one-year national service, while at the same time participating in full-time academic activities at the Nigerian Law School.

Civil society leaders further argued that the Nigerian Law School’s regulations prohibit students from engaging in other commitments such as the national service programme during the period of study.

According to the coalition, Kalu was admitted to the Nigerian Law School under the name Benjamin Okezie Osisiogu before subsequent name changes. They also claimed he declared on April 23, 2010, that he was not participating in NYSC while enrolled in the Law School programme.

However, the coalition said records indicate that Kalu holds an NYSC discharge certificate dated March 8, 2011, raising questions about whether he participated in both programmes simultaneously.

The civil society groups therefore demanded clarification from Kalu, the NYSC, the Nigerian Law School, the Council of Legal Education, and the Legal Practitioners Disciplinary Committee.

They also urged the relevant authorities to make public all official records relating to Kalu’s service year and legal training.

According to the coalition, if the institutions fail to act within the 72-hour window, they will escalate the matter through mass protests and may occupy the National Assembly complex to demand accountability.

The groups insisted they were not making a definitive accusation of wrongdoing but were seeking transparency regarding the alleged discrepancies.

They argued that Kalu should step aside temporarily because the office of Deputy Speaker is “too important for any form of controversy that could undermine public confidence.”

As of the time of filing this report, Benjamin Kalu has not publicly responded to the allegations or the ultimatum issued by the civil society coalition.

Political observers note that controversies over academic and service credentials have previously triggered major legal battles and electoral disputes in Nigeria, making the issue particularly sensitive for high-ranking public officials.

Deputy Speaker Kalu Faces 72-Hour Ultimatum Over NYSC, Law School Records

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ISWAP/Boko Haram Abducts Over 100 Women, Children in Borno Assault

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Abducts Over 100 Women, Children in Borno

ISWAP/Boko Haram Abducts Over 100 Women, Children in Borno Assault

Suspected Boko Haram/ISWAP terrorists carried out a massive assault on Ngoshe community in Gwoza Local Government Area, Borno State, abducting over 100 women and children, killing soldiers and community leaders, and forcing thousands of residents to flee, security sources and local officials report. The attack occurred shortly after Muslims broke their Ramadan fast earlier this week and targeted both a military base and an Internally Displaced Persons (IDP) camp.

The militants first stormed a military base belonging to the Nigerian Army’s 82 Division Task Force Battalion, overpowering troops due to their large numbers. Soldiers were killed, and weapons, ammunition, and vehicles were seized or destroyed. Following this, the insurgents moved into Ngoshe town and attacked the IDP camp, abducting women and children and killing the chief imam along with some elders. Residents described the attack as devastating, noting that informants may have aided the insurgents’ coordinated strike.

It has been difficult to confirm the total casualties, but at least nine soldiers have been recovered dead, with many more feared missing. Armoured tanks and military vehicles were burnt, and villagers fled to Pulka community and surrounding areas for safety. Survivors described heartbreaking scenes of mothers searching for children and families torn apart, highlighting the humanitarian toll of the assault.

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In response, the Nigerian military carried out precision airstrikes under Operation Hadin Kai, targeting insurgents along known escape routes. Reports indicate that over 50 terrorists were killed, disrupting their ability to regroup and carry out further attacks. However, the devastation caused by the initial strike left thousands displaced and without basic necessities, amplifying the ongoing security and humanitarian crisis in the region.

The attack has been attributed to a resurgence of Boko Haram/ISWAP activity in areas such as Sambisa Forest and the Mandara Mountains, despite ongoing counter-insurgency operations. Senator Ali Ndume (APC, Borno South) condemned the assault, mourning the loss of soldiers and community leaders while calling for intensified military efforts in these insurgent strongholds. He stressed that the lack of stationed attack helicopters and fighter jets in the Northeast hindered effective military response. The senator also coordinated with local authorities to provide relief to displaced families in Pulka.

Residents of Ngoshe reported that many fled with nothing but the clothes on their backs. One local man said, “You will see mothers crying, searching for their children and husbands. The trauma is devastating.” The attack has renewed concerns over security in northeastern Nigeria, particularly as it comes during Ramadan, when Boko Haram/ISWAP historically intensifies operations against civilians and military targets.

The Nigerian government and military authorities continue to pursue insurgents, but the incident underscores the enduring security challenges in Borno State and the wider Lake Chad Basin region. Ongoing displacement, abductions, and attacks on military installations highlight the need for sustained and enhanced counter-insurgency measures.

ISWAP/Boko Haram Abducts Over 100 Women, Children in Borno Assault

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