Author: Lawbreed Limited

Director-General Nigerian Copyright Commission (NCC), Mr. John Asein, has called on stakeholders in the book sector to work towards the formulation and adoption of a national book policy that will address emerging issues in the sector. He stated that the COVID-19 pandemic presented practitioners in the book industry with the opportunity to redesign their business models, stressing that it was imperative for all those concerned to go back to the drawing board and address the new realities of today in order to guarantee a better tomorrow. He spoke at a copyright webinar organised by the commission as part of the…

By M.T. Abdulrazaq The argument behind the removal of the fuel subsidy is simple. It is that the barrels of crude oil for domestic consumption which is not even part of the OPEC quota should be bought at the international market price and the “bridging payment” between the international price and what ought to be the “domestic pricing” to allow for the sale of petrol or premium motor spirit at a lower price called “subsidy” should be removed. Two tax principles are embedded in this argument. The first principle is that of discounts. The taxation of discounts in Nigeria is…

By Taiwo Oyedele The Black’s Law Dictionary defines a tax as a charge, usually monetary, imposed by the government on persons, entities, transactions, or property to yield public revenue. Most broadly, the term embraces all governmental impositions on persons, property, privileges, occupation, and enjoyment of the people, and includes duties, imposts, and excises. On the other hand, a levy in this context is defined by the Webster Dictionary as an amount of money that must be paid and that is collected by a government or other authority. If the above broad definitions are anything to go by, then one can…

For government’s chief tax collector, paying taxes to sustain the machinery of state is an age -long practice that had contributed to the development of many nations which he would like Nigerians to emulate especially now that the COVID-19 pandemic has disrupted revenues from crude oil sales. Executive Chairman of Federal Inland Revenue Service (FIRS), Muhammad Nami, who at a recent media interaction lamented the negative impact of the COVID-19 pandemic on government’s revenue sources disclosed that the FIRS alone accounted for 70 per cent of the amount shared while other revenue generating agencies collectively contributed the remaining 30 per…

The Nigerian government has secured a judgement of a British court to suspend an unfavourable ruling over the P&ID scandal. A Commercial Court in the United Kingdom, Friday, granted Nigeria’s appeal for a stay of execution of the award of $8.9 billion (about N3.2 trillion) in favour of P&ID, a controversial British firm that secured a gas contract in Nigeria. On Friday, the Royal Courts of Justice Strand, London, WC2A 2LL presided over by Justice Sir Ross Cranston said following a review of written submissions by the Nigerian government after the arbitral award, which contained “new evidence” concerning the matter…

First let me thank my dear brother, Mustapha Ogunsakin, CEO of Gavel International for the kind invitation to participate in this important conversation on the questions around the reporting of virtual court proceedings. Reporting of court proceedings is a crucial exercise of the right to fair hearing, a cornerstone of which is that hearings must be held in public. How that right will be given full expression when court proceedings are within the encrypted confines of virtual platforms is really the subject of our conversion today. The Attorneys General of Lagos and Ekiti States deserve our commendation for bringing the…

The Lagos State executive council has approved the publication of list of application for Governor’s consent in a National Newspaper and the Land’s Bureau website twice a month. This is contained in a Memo signed by Mrs. Olufumilayo Awe Director Land Services sighted by TheNigeriaLawyer (TNL). “It is hereby notified for general information and immediate compliance that the State Executive Council has approved the publication of list of application for Governor’s Consent in a National Newspaper and the Land’s Bureau website twice a month.” the memo reads The memo further provides that the publication will replace the former requirement…

Experts in tax administration and law have censured the claim of the Nigerian Postal Service (NIPOST) to the administration of Stamp Duties Act, noting that NIPOST’s involvement in stamp duties started as a historical error. Consequently, the experts cited provisions of the Stamp Duties Act, 2004; the Finance Act, 2019 and the FIRS (Establishment) Act, 2007 that empowered the Federal Inland Revenue Service (FIRS) to administer and collect stamp duties charges on behalf of the Federal Republic of Nigeria. In separate interviews yesterday, an erstwhile Registrar/Chief Executive, Chartered Institute of Taxation of Nigeria (CITN), Prof. Taofeeq Abdulrazaq; Fiscal Policy Partner…

This circular is issued for the information and guidance of the general public, taxpayers and tax practitioners in line with the provisions of the relevant tax laws. This instant circular amends, updates or replaces contents of any circular, notice or other publication previously issued by the Service that is inconsistent with its contents to the extent of such inconsistency. Read and Download Circular below: [pdf-embedder url=”https://lawbreed.blog/wp-content/uploads/2020/07/2019-FA-Information-Circular-Reorganisation-and-Commencement.pdf” title=”2019 FA Information Circular-Reorganisation and Commencement”] [mks_button size=”medium” title=”Click HERE To Download Circular” style=”squared” url=”https://lawbreed.blog/wp-content/uploads/2020/07/2019-FA-Information-Circular-Reorganisation-and-Commencement.pdf” target=”_self” bg_color=”#000000″ txt_color=”#FFFFFF” icon=”” icon_type=”” nofollow=”0″]

The Chief Judge of Lagos State, Justice Kazeem Alogba, on Tuesday swore in five presidents and 16 members to the bench of the states Customary Court. At the swearing-in ceremony, which took place on the premises of the Lagos State High Court in Ikeja, the Chief Judge advised the new Customary Court presidents and members to deal with cases that would come before them, especially family disputes, with patience and the fear of God. Justice Alogba, who said there had been complaints of Customary Court presidents and members taking wives or husbands of litigants before them, called on the newly-sworn…