President Bola Tinubu has transmitted four Fiscal Policy and Tax Reform Bills to the National Assembly for accelerated consideration and passage into law, including Economic Stabilisation Bills, which seeks the repeal of the Federal Inland Revenue Service (FIRS) Act and enactment of the Nigeria Revenue Service Act in its place.

Tinubu also transmitted the Joint Revenue Board (Establishment) Bill, intending to create a tax tribunal and a tax ombudsman for the country.

Others are the Nigeria Tax Bill 2024, which is expected to provide the fiscal framework for taxation in the country, and the Tax Administration Bill, which will provide a clear and concise legal framework for all taxes in the country and reduce disputes.

Tinubu conveyed Bills via a letter addressed to Hon. Abbas Tajudeen, speaker of the House of Representatives , which was read on the floor of the House at plenary on Thursday.

Tinubu stated that the four Bills will help actualise government’s desire for a proper tax and financial regime for Nigeria, and expressed confidence at the usual cooperation of the House of Representatives on such critical matters.

“The proposed tax bills present substantial benefits that align with my government’s objectives and fiscal reform on the economic growth by enhancing taxpayer compliance, strengthening our fiscal institutions and fostering a more effective and transparent fiscal regime,” he said.

The president had in his Independence Day national broadcast said: “To stimulate our productive capacity and create more jobs and prosperity, the Federal Executive Council approved the Economic Stabilisation Bills, which will now be transmitted to the National Assembly.

“These transformative bills will make our business environment more friendly, stimulate investment and reduce the tax burden on businesses and workers once they are passed into law.”

Polaris Bank, a money deposit retail bank in Nigeria, has been recognised as the country’s top bank in Micro, Small, and Medium Enterprises (MSME) lending at the inaugural MSME Finance Awards 2024.

The event, organised by Nairametrics and The Economic Forum, took place over the weekend in Lagos. This award highlights Polaris Bank’s dedication to supporting MSMEs through various direct and indirect funding initiatives.

The judges emphasized the bank’s consistent efforts in providing sustainable finance, which has enabled Nigerian entrepreneurs to grow and expand their businesses.

In response to the award, Polaris Bank’s Managing Director, Mr. Kayode Lawal, expressed gratitude and reaffirmed the bank’s commitment to supporting Nigerian MSMEs.

He noted, “We are honoured by this recognition, which underscores our unwavering commitment to empowering micro, small, and medium businesses. These enterprises are essential drivers of economic growth, innovation, and job creation.”

Lawal also praised Nairametrics and The Economic Forum for their recognition, adding, “This award is a testament to our team’s dedication to providing tailored financial solutions. It further motivates us to continue our strategic focus on MSME lending, financial inclusion, and Nigeria’s broader economic development.”

Polaris Bank’s approach to MSME lending aligns with its mission to deliver innovative, customer-centric services that help businesses thrive, further cementing its reputation as a key player in driving Nigeria’s economic progress.

Zenith Bank, Nigeria’s leading financial institution, has reassured its customers of improved services following recent infrastructure upgrades.

In a message posted on Thursday, the bank apologised for the service disruptions experienced across its e-channels during the upgrade period.

The bank clarified that the glitches were a result of routine information and technology maintenance, which is essential for optimizing service delivery.

Zenith Bank emphasized its commitment to ensuring 100% uptime, stating that it takes this responsibility “very personally” and continuously allocates resources to maintain uninterrupted service availability.

In the statement, the bank expressed its sincere apologies for any inconvenience caused to customers during the upgrade process, highlighting that the information technology enhancements are designed to improve the quality of service for its esteemed clientele.

The message reads in part:

Dear Valued Customer,

We sincerely apologise for the service disruptions you experienced recently on our banking channels. This was due to an information Technology upgrade aimed at improving the quality of service we provide.

We have made significant progress with the upgrade and you can now perform transactions conveniently with the following Zenith bank Channels:

Your Zenith Bank Debit Card
The Zenith Bank Mobile App
The Zenith bank Internet Banking Platform
Zenith Agents nationwide (Agent Banking)

You can also visit any of our branches nationwide to perform your transactions

Please direct all enquiries to Zenith Direct on +234 201 278 7000,
0700ZENITHBANK, 0904 085 7000 Or via email at [email protected]

Thank you for banking with us