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Federal High Court Affirms $87.9m Fines, Interest Imposed on MTN By FIRS

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Karl Toriola, chief executive officer, MTN Nigeria
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Justice Ayokunle Faji of the Federal High Court in Lagos has upheld the penalties and interest amounting to $87.9 million imposed on MTN Nigeria Communication Plc by the Federal Inland Revenue Service (FIRS).

Federal High Court Affirms $87.9m Fines, Interest Imposed on MTN By FIRS

The court gave the verdict while delivering judgment in an appeal filed by FIRS against the Tax Appeal Tribunal’s (TAT) decision of October 20, 2023.

Recall that the Tax Appeal Tribunal had awarded a principal sum of $71 million on MTN but did not grant the penalties and interest that FIRS had requested.

But dissatisfied with the TAT’s ruling, FIRS had approached the Federal High Court in an appeal marked FHC/L/1A/2024, urging the court to set aside the decision of the Tax Appeal Tribunal.

FIRS specifically prayed the court for an order setting aside the decision of TAT and an order directing the Appellant to pursue all penalties and interest arising from the principal sum awarded by the Tribunal in its judgment dated October 20, 2023.

In its brief of argument, FIRS posed two key issues for determination before the court, asking whether the Tribunal was correct in refusing to grant the Appellant the accumulating penalties and interest after determining that the goods and services purchased by the Respondent were subject to value-added taxes.

The tax agency also asked the court to determine whether the Tribunal was right to apply the provisions of the Company Income Tax Act (CITA) to address assessments related to the penalties and interest arising from the operations of the Value Added Tax Act,

In response, MTN raised one main issue for determination on whether the Tribunal erred in law by setting aside the penalties and interest imposed by the FIRS on the Respondent’s principal value-added tax liability.

MTN also contended that the Tribunal correctly dismissed the penalties and interest imposed on its alleged principal VAT liability and that the Tribunal accurately interpreted Sections 13(2) and (3) of the 5th Schedule to the FIRS Act.

They further asserted that the Appellant’s arguments regarding the applicability of these sections do not align with the Notice of Appeal and are, therefore, ineffective.

In his judgment, Justice Faji resolved all the issues canvassed by the parties against MTN Nigeria Communication Plc.

He held, “The decision of the TAT contained from page 750 of the record to the effect that interest and penalty are not due to be paid by the respondent to the appellant is hereby set aside.

“This appeal, therefore, succeeds. I grant the three reliefs sought, as prayed,” the judge held.

 

 


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OnePipe Launches PaywithAccount: Revolutionizing Payment Collections in Nigeria

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For many Nigerian small business owners, cash flow isn’t just a challenge—it’s a constant battle. Whether it’s schools struggling with delayed tuition payments, logistics firms dealing with inconsistent driver remittances, or cooperatives managing member contributions, the process of collecting payments remains inefficient, unpredictable, and time-consuming.

A study by PwC revealed that 48% of Nigerian Micro, Small, and Medium Enterprises (MSMEs) have experienced delayed payments due to different reasons, with 33% of affected businesses reporting severe consequences.

Traditional systems often involve manual invoicing, repeated follow-ups, and high transaction fees, leaving business owners with less time to focus on growing their operations.

In response to this challenge, OnePipe has launched PaywithAccount, a direct-from-account payment solution that helps businesses automate and simplify collections, reducing delays and improving cash flow predictability. With PaywithAccount, businesses can collect payments directly from customer bank accounts—securely and automatically—without the need for cards, manual reminders, or complex reconciliations.

For entrepreneurs across Nigeria, the ability to receive payments on time means the difference between survival and growth. “As a school owner, I want to focus on my students, not spend hours tracking unpaid fees,” said Mrs. Olumide Ashade, Founder of King’s Court School in Lagos.

“Many of our parents pay in installments, but managing these payments manually has been stressful.

“A solution like PaywithAccount means we can offer flexibility to parents while keeping our finances in order.”

“Reliable repayment is the backbone of growth for lenders. At Lendsqr, we understand that payment delays are a significant problem for lenders”, said Adedeji Olowe, Founder, Lendsqr.

“We have helped many of our lenders transition from debit cards to PaywithAccount which reliably ensures loan repayments are on schedule.”

“At NIBSS, our core vision is to empower the financial ecosystem to innovate within the framework of interoperability, ease of connectivity, collaboration, and cost-optimization,” said Ngover Ihyembe-Nwankwo, Executive Director of Nigeria Inter-Bank Settlement Systems PLC (NIBSS).

“PaywithAccount is another heartening example of what happens when industry players leverage these guardrails to enhance the overall quality of our nation’s digital payment system.”

For Ope Adeoye, CEO of OnePipe, this is a commitment to empowering Nigerian businesses. “Small businesses are the backbone of our economy, but too many struggle simply because getting paid is a challenge,” said Adeoye.

“We believe financial technology should remove obstacles, not create them.

“PaywithAccount helps businesses worry less about collections so they can focus on what truly matters—growth, innovation, and serving their customers.”

With PaywithAccount, small businesses across Nigeria can now eliminate the stress of late payments, automate their collections, and take full control of their financial future.

For more information about PaywithAccount, visit www.onepipe.io or call 02013438444.


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Apple Introduces Affordable iPhone 16e Model

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Apple  has announced the iPhone 16e, a new iPhone model, which is priced lower than its main models that usually debut in September.

Apple Introduces Affordable iPhone 16e Model

The iPhone 16e, retailing at $599, is set to go on sale later this month.

It features a modern design without a home button or fingerprint sensor, using Apple’s FaceID scanner and a sensor notch at the top of the screen.

Powered by the same A18 chip as the main iPhone 16 models, the iPhone 16e can run all the same apps and games. It will be available in black and white.

The iPhone 16e also introduces Apple’s first cellular modem, the C1, replacing the Qualcomm modems used in previous models.

With a single camera lens, as opposed to the multiple lenses on more advanced models, the iPhone 16e aims to attract new customers to Apple’s ecosystem, supporting features like image generation and notification summaries via Apple Intelligence.

Apple is releasing this low-cost iPhone to boost sales amidst mixed results in recent quarters, as overall iPhone sales fell 1% annually in the December quarter, though the company still sold over $69 billion worth of phones during this period.

This model continues Apple’s tradition of offering affordable iPhones, following the iPhone SE. Unlike previous major product launches, the iPhone 16e was introduced through a press release, reflecting Apple’s new approach to product announcements.

 


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Airtel Nigeria Faces 40 Percent Revenue Dip amid Naira Devaluation

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Airtel Nigeria’s revenue fell by 40.34% in 2024, reaching $738 million, down from $1.24 billion the previous year.

Airtel Nigeria Faces 40 Percent Revenue Dip amid Naira Devaluation

This sharp drop is mainly due to the steep devaluation of the Nigerian naira.

Although the company saw a 3.2% increase in its customer base, which grew to 52.1 million subscribers, the rise in data usage per customer was more significant.

Average data consumption grew by 37.2%, reaching 8.4 GB per month.

Airtel’s EBITDA dropped by 46.4%, standing at $360 million.

Despite the challenges posed by inflation and rising operational costs, the company adjusted its pricing for voice and data services, in line with the Nigerian Communications Commission’s (NCC) tariff changes.

The company said it remains focused on adapting to the tough economic situation while maintaining its service quality for a growing customer base.

 

 


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