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FG’s Irreverence 2% Tax on Mobile Phones, Others
The recent move by the federal government to impose two per cent tax on the values of mobile phones, computers, software, cameras, photocopiers, printing machines and CD players manufactured in the country or imported is an aberration and ill-conceived.
And the federal government’s claim that the new levy on broad range of products capable of being used to infringe on the copyright of products and services, including computers, mobile phones and printing machines is also questionable.
This is because according to the Nigeria Copyright Commission (NCC) the levy will apply to such products whether they are imported into the country or they are manufactured within the shores of the nation.
The order for the tax to be known as the Copyright Levy has already been gazetted by the office of the Attorney General of the Federation as the modalities for its implementation were being negotiated with the Nigeria Customs Service.
In all intents and purposes, the new regime negates the same federal government policy of local content and patronage of locally made products.
The new tax regime is grossly misleading.
This is because owning a phone or a gadget does not automatically make every Nigerian a copyright thief.
The proposed tax is a direct translation of the irreverence of policy makers in Nigeria who assume that every Nigerian is a potential breaker of copyright laws.
It is also worrying that the new policy is coming at a time when both indigenous software and Original Equipment Manufacturers OEMs are clamoring for local patronage.
The surviving PC makers- Zinox , Beta Computers, Omatek and Brian Integrated Systems are barely hanging in there.
Allowing the tax will effectively limit the use of ICT across a variety of sectors to help achieve the Millennium Development Goals.
We call on the federal government to quickly suspend the tax because it is not only illegal, wrong and immoral; it is also regressive because it will take a larger percentage from low-income people than from high-income people.
We also warn that if the tax is allowed to stand, lower income consumers are more affected by it because they are less able to afford PCs, mobile phones and other ICT tools.
The Securities and Exchange Commission has revealed plans to commence investigation into the activities of an entity operating under FF Tiffany, allegedly running a fraudulent investment scheme that has defrauded citizens.
A statement by the SEC on Tuesday in Abuja said preliminary information revealed that the scheme, which promised investors unusually high and unrealistic returns, had resulted in the loss of several billions of naira.
The SEC said it viewed the activity as a threat to investor confidence and the overall integrity of the financial system.
The commission assured the public that it was working closely with law enforcement agencies and other relevant bodies to bring everyone involved in the unlawful operation to justice.
According to SEC, those found culpable will be prosecuted in accordance with the Investment and Securities Act and regulatory provisions.
SEC reiterated its earlier warnings to the general public to desist from engaging in Ponzi or unregistered investment schemes that promised guaranteed or exaggerated returns.
“These schemes are not registered with the SEC and do not offer investor protection under the law.
“The commission is currently investigating 79 schemes and will make a statement on its findings at the conclusion of the investigation,” the SEC said.
The commission encouraged investors to conduct due diligence and verify the registration status of any investment firm or product by visiting the SEC website or contacting the commission directly through official channels.
SEC said it remained committed to its mandate of protecting investors, ensuring fair practices, and maintaining confidence in Nigeria’s capital market.
The Ogun Tech Hub in Abeokuta, Nigeria received a significant step towards increasing digital access and empowering young people as US Embassy in Nigeria launched the ‘Window on America’ facility.
The newly opened centre will offer free high-speed internet, computer access, and targeted programs to help young Nigerians build essential skills in technology, entrepreneurship, and leadership.
In a post on X (previously Twitter), the US Embassy described the hub as a modern ICT and resource centre meant to promote digital inclusion and provide youths with skills.
“Hello Abeokuta! We’re thrilled to announce the opening of the Ogun Tech Hub Window on America. This dynamic space offers free high-speed internet, computers, and programs to help young people gain tech, leadership, and entrepreneurial skills,” the Embassy wrote.
The facility was established in collaboration with the Ogun State and GFA Technologies, a software solutions provider for startups and SMEs.
The Embassy said the facility is part of its wider network of 29 American hubs across Nigeria, designed to empower youth and broaden access to global knowledge and opportunities.
Speaking during the launch, Ogun State governor Dapo Abiodun urged young people to use the ICT industry for self-sufficiency and competitiveness globally.
He lauded the program as a public-private cooperation that connects Nigerian youngsters with global innovations.
The governor said: “The Ogun Tech Hub serves as a collaborative space for technologists, startups, and social entrepreneurs to develop tech-driven solutions for societal challenges. The partnership is aimed at positioning Ogun State as a leading tech hub in Africa, supporting creative problem-solving and commercial innovation.”
With the ‘Window on America’ program fully operational, Ogun State is well-positioned to boost youth empowerment and digital literacy.
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