Library Of Policy

12 posts

Library Of Policy

Library Of Policy

@LibraryOfPolicy

Katılım Temmuz 2025
5 Takip Edilen11 Takipçiler
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Fiscal Reforms Nigeria
Fiscal Reforms Nigeria@fiscalreformsng·
𝐓𝐡𝐞 𝐍𝐞𝐰 𝐓𝐚𝐱 𝐀𝐜𝐭𝐬 𝐚𝐧𝐝 𝐓𝐚𝐱 𝐈𝐃 – 𝐖𝐡𝐚𝐭 𝐘𝐨𝐮 𝐍𝐞𝐞𝐝 𝐭𝐨 𝐊𝐧𝐨𝐰   The Nigeria Tax Administration Act (NTAA) mandates the use of Tax Identification Numbers (Tax ID) for certain transactions. Understandably, many Nigerians have questions about what this means for banking, businesses, and everyday life.   This FAQ provides answers, clarifies misconceptions, and highlights the safeguards in place to protect citizens while ensuring a fairer, more transparent tax system.   𝐅𝐫𝐞𝐪𝐮𝐞𝐧𝐭𝐥𝐲 𝐀𝐬𝐤𝐞𝐝 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬   𝑸1. 𝑰𝒔 𝒊𝒕 𝒕𝒓𝒖𝒆 𝒕𝒉𝒂𝒕 𝒆𝒗𝒆𝒓𝒚𝒐𝒏𝒆 𝒎𝒖𝒔𝒕 𝒐𝒃𝒕𝒂𝒊𝒏 𝒂 𝑻𝒂𝒙 𝑰𝑫 𝒃𝒆𝒇𝒐𝒓𝒆 𝒐𝒑𝒆𝒏𝒊𝒏𝒈 𝒐𝒓 𝒄𝒐𝒏𝒕𝒊𝒏𝒖𝒊𝒏𝒈 𝒕𝒐 𝒐𝒑𝒆𝒓𝒂𝒕𝒆 𝒂 𝒃𝒂𝒏𝒌 𝒂𝒄𝒄𝒐𝒖𝒏𝒕? A1. Yes, but with some clarifications. Section 4 of the NTAA requires all taxable persons to register with the tax authority and obtain a Tax ID. A “taxable person” is someone who carries on trade, business, or other economic activity to earn income. Banks and other financial institutions are required to request a Tax ID from taxable persons. Individuals who do not earn income and are not taxable persons are not required to obtain a Tax ID.   𝑸2. 𝑰𝒔 𝒕𝒉𝒊𝒔 𝒓𝒆𝒒𝒖𝒊𝒓𝒆𝒎𝒆𝒏𝒕 𝒏𝒆𝒘? A2. No. This is not a new policy. It has been in place since the Finance Act, 2019, which amended section 49 of the Personal Income Tax Act. Since January 2020, individuals opening a business account have been required to provide a Tax Identification Number (TIN). The NTAA only strengthens and harmonises this requirement.   Read the FAQ for more... #TaxReformsLaws #NigeriaTaxReform #TaxIDExplained #FinancialInclusionNG #NigerianEconomy #TaxEducationForAll
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Library Impacts Hub ™
Library Impacts Hub ™@LibraryImpactNG·
Daddy D.O🇳🇬@DOlusegun

FG Makes TRCN Certification Mandatory for Schools to Host Public Exams In a major push to professionalize teaching, the Federal Government has declared that all secondary schools must ensure their teachers are certified by the Teachers Registration Council of Nigeria (TRCN) or face a ban from serving as examination centres for major public exams. The directive was issued on Thursday by the Minister of Education, Dr. Tunji Alausa, in a memo to the Registrar of the TRCN. The move is designed to enforce minimum standards and qualifications for educators across the country. According to the new policy, starting from 2027, the accreditation of any secondary school to host examinations like the West African Senior School Certificate Examination (WASSCE), NECO, NABTEB, and the National Business and Technical Examinations Board (NABTEB) will be contingent on their teachers being duly registered and licensed by the TRCN. The minister outlined specific deadlines for each examination body: · March 2027 for WASSCE · May 2027 for NABTEB · June 2027 for NECO · June 2027 for the National Business and Technical Examinations Board (NBIAS/SAISSCE) “Any school whose teachers are not duly registered and licensed with the TRCN shall be disqualified from serving as an examination centre,” the minister stated. To ensure a smooth transition, the government has given a two-year compliance window. State governments have been urged to ensure all teachers in both state-owned and private secondary schools meet the requirement. Schools are expected to achieve a minimum of 75% compliance by 2026 and 100% by 2027. Acknowledging that not all current teachers are education graduates, the minister provided a pathway to compliance. He encouraged such teachers with at least 12 months of classroom experience to enroll in an abridged professional certification programme offered by the National Teachers Institute (NTI). "The institute offers an abridged professional certification programme with short professional courses lasting three to six months, after which participants can qualify for TRCN registration and licensing," Alausa said. The minister called on all stakeholders to prioritize the directive and ensure wide sensitization to avoid any disruption to the accreditation process for the crucial public examinations. This policy represents one of the most significant steps taken to institutionalize professionalism within the Nigerian teaching workforce.

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Otaroghene, CISA®
Otaroghene, CISA®@oforitseno·
Policies are easy to make but enforcement is the issue in Nigeria. Currently some people are using "loudspeaker to preach" which is against the estate policy. How they gained entry is a topic for another day? Leadership in Nigeria is NOT easy.
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Library Of Policy retweetledi
Government of Nigeria
Government of Nigeria@NigeriaGov·
President Tinubu Signs Landmark Nigerian Insurance Industry Reform Act Into Law President Bola Ahmed Tinubu has signed into law the Nigerian Insurance Industry Reform Act (NIIRA), 2025, a landmark legislation that modernises Nigeria’s insurance landscape and aligns the sector with global best practices. The Act repeals and consolidates outdated insurance laws, raises capital requirements for insurers, introduces mandatory timelines for claims processing, and strengthens the enforcement of compulsory insurance nationwide. It also provides for: •Dedicated protection funds for policyholders •Digital transformation of insurance operations •Enhanced supervisory powers for the National Insurance Commission (NAICOM) •Greater participation in regional insurance frameworks like the ECOWAS Brown Card NIIRA, 2025 is a strategic instrument in the Federal Government’s vision of building a $1 trillion economy, unlocking investment, restoring trust in insurance, and expanding financial inclusion. Championed by Sen. Tokunbo Abiru (Senate-Lagos East) and passed by both houses of the National Assembly, the reform is expected to deepen insurance penetration, boost job creation, and strengthen Nigeria’s economic resilience as implementation begins. .@officialABAT .@TokunboAbiru .@nassnigeria #NIIRA2025 #InsuranceReform #RenewedHope #FinancialInclusion #EconomicGrowth #NigeriaMeansBusiness
Government of Nigeria tweet media
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Library Of Policy retweetledi
Library Impacts Hub ™
Library Impacts Hub ™@LibraryImpactNG·
Guess this is a recent event hosted by @LASRABofficial Wikipedia has done well making information accessible to all. We only hope mischievous persons/agents do not hijack the platform. Cc @LibraryOfPolicy @LibraryOfRecord @ReadThinkDoGood @FactCheckItNext
Amb.Olushola Olaniyan 🇳🇬@oluwanishola73

As members of the #Wikip/media community, we have built a remarkable group that continues to grow in strength, purpose, and impact. It is time to deepen our engagement with key stakeholders and explore how Wikipedia and its sister projects can actively shape our collective future. In an age where misinformation spreads rapidly, our platforms play a crucial role in promoting the truth, preserving history, and providing context for contemporary realities. I am honoured to join a panel of influential voices in this critical conversation. Let this serve as a clarion call for all of us to develop bold, forward-thinking strategies for a more informed world. @wikimediapolicy

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