General News
D. Day as 56m Nigerians Choose between GEJ and GMB

No fewer than 56 million Nigerians will file out today to elect the next president in an election believed to be the keenest in the history of the country, according to Punch newspapers.
The figure represents 81.9 per cent of the total number of 70,383,427 voters that registered for the election.
The ruling Peoples Democratic Party presidential candidate, Dr. Goodluck Jonathan and the opposition All Progressives Congress candidate, Gen. Muhammadu Buhari (retd) are once again asking for Nigerians’ votes in this year’s general elections to enable them to lead the country.
The two political gladiators contested in the 2011 general elections won by Jonathan. But this year’s election has generated much tension across the country following the near equal strength of the two major presidential candidates in the poll.
According to Punch, the Independent National Electoral Commission had in February shifted the general elections as a result of insecurity in the North-East and poor distribution of the Permanent Voter Cards.
The INEC Chairman, Prof. Attahiru Jega, had said that the commission was empowered by Section 26 (1) of the Electoral Act 2010 (as amended) to shift national elections due to some factors.
He explained that the postponement followed reports by the National Security Adviser, Col. Sambo Dasuki (retd.) and other service chiefs that their agencies would not be able to guarantee security of the commission’s personnel in some parts of the country. Jega had denied that INEC was forced to shift the polls, adding that the electoral body took the best decision under the prevailing circumstances.
“Nobody has forced us to take this decision; it is a very weighty decision, but under the present circumstances, we have taken the best decision and we stand by it,” he had said.
The postponement of the elections was said to have given security agencies the opportunity to reduce the insecurity posed by the Boko Haram terrorist group in the three North-Eastern states of Borno, Adamawa and Yobe as well as to allow the electoral body to improve in its distribution of the PVCs.
INEC, in its bid to ensure credible conduct of the elections, introduced a lot of innovations, including the PVCs and the smart card readers to prevent rigging.
The electoral body also increased existing polling units by 30,000. By this addition, the total number of polling units across the country’s 774 local government areas is now 150,000 from the initial 119,973.
The creation of the additional units was contained in an INEC bulletin signed by the Director in charge of the commission’s secretariat, Ishiaku Gali.
Gali had said the decision to create the additional polling units was taken at the commission’s meeting on August 12, 2014 so as to decongest polling units across the country.
As Nigerians elect the new president today, however, the electoral body has put the current total number of registered voters at 70,383,427 of which Lagos State with 5,426,391 has the highest number of registered voters. Nigeria’s commercial capital is followed by Kano with the second highest number of registered voters of 4,751,818.
Meanwhile, INEC has warned the electorate to shun activities that could trigger off breakdown of law and order as they vote for the candidates of their choice.
The Resident Electoral Commissioner in Ekiti, Mr. Sam Olumekun, and Head, Voter Education in Kwara State, Mr. Jacob Iyanda, asked the electorate to remain orderly while casting their ballots.
Olumekun, who spoke with Saturday PUNCH through the commission’s Public Relations Officer, Alhaji Taiwo Gbadegesin, said, “Voters are to be orderly and follow the instructions of electoral officers. They are not supposed to accept bribe because that is against the ethics of the election.”
Also, Iyanda warned voters or politicians against canvassing for votes during accreditation.
He said, “Voters are expected to come to the polling units with their PVCs. Secondly, they should follow the instructions of INEC officials because they are going to move from one point to the other in the process of accreditation.
“Voters should not canvass for vote, they should not wear any clothe or cap that has symbol of any political party. No symbol of a political party should be found on them. Voters should cast their votes and if they know they want to stay back to watch the proceedings, they should stay quietly and stay out of trouble.
“It is also wrong for them to accept bribe from party agents to cast their votes.
“Voters should make sure that once they finish accreditation between 8am and 1pm, by the time the real voting is supposed to come up by 1.30pm, everybody is supposed to be at the polling units. Once the voters are called to queue up and counted, then it will be difficult to start looking for someone who is not around. So before 1.30 pm, all voters must have converged on the polling units.”
The Deputy Director in charge of Voter Education in Osun State, Rev. Canon Stephen Ojewande, warned politicians and their parties against making provocative comments that could create bad blood among voters.
Urging voters to conduct themselves at the polling units while exercising their civic responsibility peacefully, Ojewande assured them of adequate security.
He also warned that anyone caught canvassing for votes on the election day would be dealt with according to the provision of the law.
Ojewande said, “We want voters to go to their polling units with their PVCs. Accreditation will be done and after this, voting will start. Nobody should canvass for votes during accreditation or voting time.”
Head of Voters Education Department in Oyo State, Mr. Ayodele Folami, said voters were expected to arrive at the polling units by 8am for accreditation.
He said, “We have electoral guidelines guiding the conduct of our staff, ad-hoc members and voters. It is standard rule and having gone through more than a decade of democratic process, we expect voters to have acquainted themselves with the rules. They are expected to be at the polling units by 8am and cooperate with our staff while verifying their PVCs.
“They are also expected to be law-abiding and respect the next voter who could be loyal to a rival party. Normally, political discussion is not allowed around the polling units because it could lead to violence.”
Folami added, “At no time on the day of the election will candidates or their supporters be allowed to campaign. All campaigns stop before the day. Campaign on such day is against electoral guidelines. Any politician who does so on the days of the elections will face the law and could jeopardise his chances or that of his candidate. It is also a crime to take bribe from party agents to cast vote for their candidate on election day.”
In Plateau, the police said that they had taken measures, along with all relevant authorities and stakeholders to forestall breakdown of law and order during the polls.
The Police Public Relations Officer, DSP Emmanuel Abuh, said that the police are also in touch with heads of various institutions, including universities, asking them to sensitise members of their communities against being used by unscrupulous politicians or taking the law into their hands.
He said, “Just as we have been briefing various stakeholders on the preparations for the elections, the police are working round the clock. No segment of the society will be left or neglected. Every precautionary measure has been taken to ensure that there is no breakdown of law and order.
He added, “As you can see, all the security agencies in the state carried out a show of force round the streets of Jos and its environs. This is to show you that we are serious about the election.”
Assistant Registrar, Information and Publication, University of Jos, Mr. Aaron Abdullahi, said that the institution did not envisage any problem during the polls as students are currently on break till April 16.
Abdullahi said, “The students are currently on break until April 16, but we have adequate security cover on campus right now. UNIJOS security staff members are currently on one-week intensive training from Monday, March 23 to 27. The resource persons are drawn from the police, DSS, military and other security experts.”
Meanwhile, the Federal Road Safety Commission said the body had deployed 20,000 personnel and 413 patrol vehicles along designated routes for today’s elections.
Corps Marshal, FRSC, Mr. Boboye Oyeyemi, said this was to ensure sanity on the nation’s highways during the polls.
This is contained in a statement signed by the Spokesperson for the commission, Mr. Imoh Etuk, and made available to Saturday PUNCH in Abuja on Thursday.
It said the commission had drawn a roadmap toward effective patrolling of designated routes on the highways to ensure best road safety practices among road users during the exercise.
It said the 24 Emergency Ambulance Response Centres at the various routes across the country would also complement efforts of the commission.
The routes are: FCT, Kaduna, Gombe, Jigawa, Taraba, Niger, Kogi, Ondo, Edo, Osun, Nasarawa, Plateau and Kwara states where the centres were located.
He said, “Motorists are hereby enjoined to ensure proper planning and management of trips through maintenance of their vehicles and compliance with traffic rules and regulations.
“ Road users are strictly warned to desist from all road vices such as overloading, speed limit violation, non-use of seat belt, route violation (driving against traffic), making/receiving calls while driving and night trips.
“Details of the objectives of this special exercise include the removal of obstructions from the highways; traffic control/decongestion and public enlightenment campaigns.
“Road users are strictly advised to desist from night trips and ensure that vehicles which ply the highways conform with safety standard,” the corps marshal added.
He listed functional head/tail lights, wipers, tyres, fire extinguisher, caution sign and non-defective windscreen as some of the basic conditions to be met by all motorists.
Oyeyemi urged motorists to call the FRSC Toll Free Emergency Numbers: 122 and 070022553772 to report any traffic crash or any other traffic-related challenges, for prompt response.
General News
FG to Introduce New Tax Credit Scheme to Replace Pioneer Status Incentive

As part of Nigeria’s ongoing tax reform efforts, the federal government is proposing a new investment-driven incentive framework aimed at addressing long-standing inefficiencies in the current Pioneer Status Incentive (PSI).
The new scheme, known as the Economic Development Incentive (EDI), is designed to stimulate real economic activity by tying tax relief directly to verifiable investments.
This was the focus of a keynote address delivered by Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, at BusinessDay’s Policy Intervention Series held on April 22 in Lagos.
According to Oyedele, a close review of the Pioneer Status Incentive revealed structural flaws that have undermined its effectiveness. “Once granted Pioneer Status,” he said, “companies may import goods classified as ‘pioneer products’ tax-free, effectively allowing them to operate without tax obligations—even with minimal value addition to the economy.”
He further noted that while the PSI was initially designed to encourage investment, it created loopholes and ambiguities. For example, businesses often benefit from extended tax relief even after the designated holiday period ends.
“The assets used during the Pioneer period are essentially frozen in time,” Oyedele explained. “They’re treated as if acquired after the incentive ends—meaning companies only start claiming deductions once the holiday period is over. This creates long-term tax advantages that go well beyond the policy’s original intent.”
He also pointed out that the PSI makes it difficult for the government to quantify revenue forgone and for investors to clearly assess the value of the incentive—undermining transparency on both sides.
The Economic Development Incentive
The proposed Economic Development Incentive is a departure from the one-size-fits-all model. Instead, it’s structured around priority sectors—primarily manufacturing, followed by services and infrastructure—that have strong multiplier effects on the economy.
Another key design feature is the introduction of minimum investment thresholds to ensure only scalable and impactful projects qualify. For instance, companies operating in capital-intensive sectors like utilities would need to invest at least N200 billion to be eligible for the tax credit.
“The EDI is about real impact,” Oyedele said. “It’s time-bound, sector-targeted, and tied to actual capital deployment—not just approval on paper.”
Unlike blanket tax holidays, the EDI grants companies a 5 percent annual tax credit over five years—totaling 25 percent of the value of their qualifying investment. Importantly, this is in addition to existing capital allowances, making the scheme particularly attractive to long-term investors.
Crucially, approval under the scheme does not mean the investment has already been made. It only confirms that the company has a verified plan. The incentive kicks in only after capital is actually deployed, and all investments are subject to inspection by the Industrial Inspectorate Division.
Oyedele broke down how the system works using practical examples:
If a company invests N10 billion in Year 1, it earns a N500 million tax credit each year for five years. If an additional N5 billion is invested in Year 2, that new investment begins its own five-year 5 percent cycle—N250 million annually until Year 6.
If the company continues investing progressively, each round of investment starts a new five-year cycle of tax credits, potentially extending the benefit period up to 10 years.
For instance, if a business has a N15 million tax liability in a given year and applies N25 million in tax credits, its liability is wiped out entirely, with the N10 million balance rolled over to subsequent years.
However, there’s a catch: if a company fails to follow through on its investment plan or halts capital deployment, unused credits are forfeited. This accountability mechanism ensures that only consistent and credible investments are rewarded.
General News
FlashChange Partners Ruth Foundation to Empower Vulnerable Children in Alimosho with Skill Acquisition

In an inspiring initiative to uplift the next generation, FlashChange and Ruth Foundation have successfully implemented the “Orphanage Skill Acquisition Assembly 2.0 program,” a skills empowerment program for vulnerable children in Alimosho, Local Government Area of Lagos state.
The five-day programme, which began on Monday, April 14, was created to equip vulnerable children aged 4 to 18 years with essential life skills such as financial literacy, fashion design, photography, creative arts, cooking, and leadership development
Speaking at the closing ceremony of this year’s edition of the programme, the Chief Operating Officer, Flashchange, Olamide Ajibola said, “We are delighted to be part of this life-changing initiative.
“At FlashChange, we believe that children are the heartbeat of every community, by investing in their development today, we are not just shaping the future of individuals but nurturing future leaders, creators, and change-makers that would make a positive contribution to the growth and development of the society in the near future.”
“Initiatives of this nature gladdens our heart and we are open and willing to participate in them at any time. In the coming months, we hope to do more in that area as our own little way of improving society. This is in line with our CSR pillars, which include human capital development.”
Ajibola appreciated the benefitting children for accepting to be part of the life changing training which has the capacity to catapult them to a brighter future. The facilitators were also commended for impacting the children with the skills and knowledge to help shape their lives.
The founder Ruth Foundation, Itunuoluwa Ruth Da-Silva, in her remarks, expressed the foundation’s deepest appreciation to partnering organizations like FlashChange for believing in the vision and throwing their full weight behind it.
She said, “It will interest you to know that 153 vulnerable children benefitted from the Orphanage Skill Acquisition Assembly 2.0 programme and the training ran simultaneously at Compassionate Orphanage home; Precious Pearl Orphanage; Little Saints Orphanage and House of Mercy Orphanage respectively. Providing the children access to knowledge and skills early in life to create a ripple effect that can transform the entire community.”
The Chief Marketing Officer, FlashChange Jesujoba Ojelabi commended Ruth foundation for the initiative and urged the children to take the skills learnt seriously, as it has the capacity to change their lives for good.
He said, “As a company, we would be proud to lend our support to the foundation whenever we are called upon to do so in the future. My candid advice to you children would be this, to be great ambassadors of this initiative, you need to continuously put to practice the skills and knowledge you have acquired from the programme. We are indeed proud of you all and the success stories recorded so far.”
To support the continuous development of the children the following items were donated; electric sewing machine, cake mixer; packs of Yeye yarn, packs of pins, some stitch markers, scissors, measuring scale, make-up kit box filled with make-up tools among several others.
FlashChange and Ruth Foundation therefore urge community leaders, government organizations, private sector partners, and stakeholders to support programmes of this nature aimed at equipping children with the skills they need to thrive in a world that is evolving quickly.
General News
EFCC Clarifies SCUML Certificate Misuse amid CBEX Ponzi Scheme Scandal

Economic and Financial Crimes Commission, EFCC, has dismissed the claims that the defunct digital asset trading platform, CBEX, was registered with its Special Control Unit against Money Laundering, SCUML.
However, EFCC stated that ST Technologies and not CBEX registered with SCUML, saying that the certificate didn’t imply clearance by the Commission.
The clarification comes after Lesley Kessy Oviritsa, one of the victims of the CBEX Ponzi Scheme said she fell prey to CBEX after seeing and verifying its CAC and SCUML Certificate.
Oviritsa claimed they had no reason to suspect foul play, especially since they claimed their SEC certificate would be ready by May 2025.
Nigeria CommunicationsWeek reported how CBEX swept over N1.3 trillion from their investors’ accounts.
In a post on its official handle on X on Monday, EFCC said the Commission is not a clearing house or regulatory authority of online businesses.
The post read: “SCUML Certificate Is Not CLEARANCE BY EFCC.
“ST Technologies (not CBEX) registered with the Special Control Unit against Money Laundering, SCUML in line with Section 17 of the Money Laundering, (Prevention & Prohibition) Act, 2022.
“Registration is a statutory requirement for all Designated Non-Financial Businesses and Professions, DNFBPs, in Nigeria in consonance with Nigeria’s Anti-Money Laundering/ Control of Financing Terrorism, AML/CFT regime.
“The EFCC is not a clearing house or regulatory authority of online businesses.
“But financial fraud of any kind is the remit of the Commission, and it is committed to ensuring justice for victims of the CBEX scam.”
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