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Proposed Bill Mandates TIN for Access to Financial Services in Nigeria

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A new bill has been introduced in Nigeria that will require individuals involved in banking, insurance, stock-broking, and other financial services to provide a Tax Identification Number (TIN) before opening or operating accounts.

The bill, dated October 4, 2024, aims to enhance tax compliance and increase revenue collection across federal, state, and local governments.

The legislation also mandates non-residents earning income from Nigeria to register for a TIN, while those with passive investment income must provide details to tax authorities.

Penalties for non-compliance include fines of ₦50,000 for the first month and ₦25,000 for each subsequent month.


 

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Concern Grows Over Rising Insecurity Following Kwara Abduction Case

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It was reported that bandits were seen in Kwara State and abducted six residents from Rukpete Village.

The incident was reported to have occurred on June 8 at about 11 p.m.

Sources revealed that seven people were initially taken, but an elderly man was later released, leaving six victims in captivity.

The rising cases of insecurity in the country remain quite alarming.


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Panic as Bandit Rumours Spark School Safety Concerns in Abuja

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The state of the country is affecting many people, as they believe nowhere is safe, including schools where they keep their children.

It has been reported that some parents have started withdrawing their children from schools in Abuja.

It can be noted that rumours of bandits being sighted near a school triggered panic, causing parents to hurriedly remove their children for safety.

While the reports of bandits have not been confirmed, the school has also issued safety measures to ensure the protection of students within the premises.


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Lagos Residents Raise Alarm After Suspected Bandits Are Reported in Ibeju-Lekki

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It has been rumored that bandits have made their way to Lagos, and allegedly they were spotted in Ibeju-Lekki, where some residents became suspicious of them and reported the matter.

A clip of the group of men went viral online, and many people became concerned. Whether true or not, fear has been sparked among Lagosians as they worry that bandits may already be in the state. Even if the reports remain unconfirmed, many believe it is still a possibility worth paying attention to.


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