₦airaland Forum

Great one from my president. Let transfers be free mbok. The neobanks doing that did not fall from heaven neither do they work outside our financial guidelines.

FreeStuffsNG:
https://tribuneonlineng.com/nigerians-to-stop-paying-five-common-bank-charges-from-january-2026-oyedele/#google_vignette

dem wan stop to collect 50 naira begin collect 2 thousand naira.

Who Una Dey deceive ?

I hope this act, will not affect pos business??
Bcus most ATM 🏧 is depensing cash

They will stop paying, and then you introduce one big levy that will take more than the total of the scrapped ones. We know the game.

Princedapace:
hahahaahahahahahahahahahaah
This is so funny. Do u think everyone is a fool here? He is introducing a whole 20 to 25 percent tax on my person income and u are clapping for 50 naira deduction removal?
Do u know what 25 percent is? So, as a freelancer, after I hustle find work online for abroad, hustle for fuel, hustle for bad roads, hustle for expensive healthcare for parents and for my self, I will still dash Tinubu 25 percent of my online hustle and u said that made me richer?
Now, let me school u.
Let say as a remote hustler, u make 40m per year as income. With the new tax, u will be paying around Total tax = 330,000 + 1,620,000 + 2,730,000 + 3,450,000 = ₦8,130,000. That is a whooping 8m plus reduced from ur purchasing power.
Now, hear the shocker. Before Tinubu, the 40m yearly was barely eniugh for u because since Nigeria is a poor country, u are surely dealing with black tax, that means u may have struggling parents u need to care for their health since Nigeria has no healthcare provision for citizens for free. U pay for expensive wakcy private healthcare.
Now, since Nigeria education is dead, u pay for expensive primary, secondary and university education since those provided by govt are wacky.
U will have bills as man of the house, more poeople are poor in Nigeria. Ur friends, siblings, somehow get some help from u. Now, govt has taken almost 9m from the 40m, u are left with 31m and yet Tinubu didnt provide any social plans for u, so u will still find ways to solve ur existing problems such as health care for elderly parents, healthcare for ur self, sort out electricity, had to deal with bad roads to constantly fix ur car, deal with insecurity by living in an expensive and secured estate where u pay for private security, deal with water by buying bottle water since govt has none for u, u will pay expensive school for ur kids. Omo, Tinubu reduced my purchasing power while providing nothing.
And here is the shocker, just as we cant account for fuel subsidy removal money, no proper anti corruption system since Baba wants re-election, he cant be trying governors who will help him win states, they will loot our money and go free.
No past president has been tried and sentenced, no politician has been sentenced to dealth for corruption, no electoral reform, no proper ways to bloack loopholes, but man will take almost 9m from my money and still leave me to hustle and attend to what even 40m couldnt fix.
Look, all of us arent foolish here. But as for me, I will use every legal means to avoid this, I cant spend my sweat on this god forsaking country. Dont forget I still have VAT to deal with, and other taxes o.

The real shocker is that the current tax rate is 24%. So, Tinubu 25% tax rate is only 1% higher.

The only difference I'd that this government wants to start collecting it. The days of brazen tax evasion is coming to an end.

The country's over reliance on crude oil for both its revenue and export ending needs to end. It's ruining the economy.

Also, to reduce your taxes, incorporate a limited liability company.

I doubt companies earning 40m or less pay tax.

Why not search Google using the AI search to get answers.

Racoon:
Another lies and propaganda. To every one charge being deleted, they have multiple taxation policies to cover it up.

Since dem born you for village, na the only truth wey i don hear you speak for nairaland be this ooh eeeh! dem hack your account?

Implementation is always the problem.
We wait and see.

Before we where told tha when U put Ur money for bank, they give U interest at the end of every month. But now, the reverse is the case.

Me now,na for house I dey keep my money ooo. I no send any bank... mtcheeeew

So that you will not complain that the tax is too much

They plan to tax YOU HEAVILY by January

Banks like First Bank and Sterling don't take the transfer charge of N50. Kudos to them.

This is unlike the almighty Access Bank that will never waste time in taking the N50. It's as if their lives depends on it.

Fear who no fear the data boys from the first 10 comments.

They called themselves let's praise our oga.

Please let it be on record you'll pay the tax I'm not going to pay it with you.

Japa loading before Dec 23 enjoy your tax law in piss.

If you're a freelance or earn online please find a way to leave Nigeria.

Bmaster:
This is good 👍

But More work should be done on insecurity and kidnappings

😂 Good? They removed that to charge you taxes...

A village woman without bank account just waka pass while thinking how government will relief thier hardship seeing that majority are in their category

Na waoh

FreeStuffsNG:
https://tribuneonlineng.com/nigerians-to-stop-paying-five-common-bank-charges-from-january-2026-oyedele/#google_vignette

These are not the main problems.
Yes, you can remove the N50 levy.
The main issue is the CGT, so no need to divert attention of people from that.

What will they be replaced with?

FreeStuffsNG:
Millions of Nigerians will experience significant financial relief from January 2026 as five frequently applied bank charges are set to be abolished under the Federal Government’s sweeping tax reform agenda.

This is a smart way that the administration of Asiwaju Tinubu, GCFR, will directly put money into your pocket.

Use this raise wisely and don't immediately spend it to upgrade your liabilities

Congratulations to Nigerians. Thank you Mr. President. May God bless you and the Federal Republic of Nigeria.

introduce 2 problems one big and the other small. Remove the small one after sometime . Pat yourself on the back that you've decieved Nigerians .....
Genz protest is coming

Sharatan:
If this is true, it will be a very good policy by the Tinubu administration and a win for him

The IQ of an average Nigerian worries me. They tell you to stop paying N100 in one channel but will introduce N400 tax through another means yet you guys call it good policy and a win.

I'm beginning to think the memory capacity of an average Nigerian isn't more than 1GB. What this means is that a low grade oppo phones which lags perform better.

FreeStuffsNG:
Millions of Nigerians will experience significant financial relief from January 2026 as five frequently applied bank charges are set to be abolished under the Federal Government’s sweeping tax reform agenda.

This is a smart way that the administration of Asiwaju Tinubu, GCFR, will directly put money into your pocket.

Use this raise wisely and don't immediately spend it to upgrade your liabilities

Congratulations to Nigerians. Thank you Mr. President. May God bless you and the Federal Republic of Nigeria.

if sycophancy was a person

TemplarLandry:
This is another testament to the fact that President Tinubu's government is pro-masses.

On this premise, I dedicate "Still D.R.E" by Dr. Dre feat. Snoop Dogg to Jagaban.

Great jam!

APC DJ, you're still here?

FreeStuffsNG:
https://tribuneonlineng.com/nigerians-to-stop-paying-five-common-bank-charges-from-january-2026-oyedele/#google_vignette

Nonsense, they now see that Nigerians no longer use Nigerian banks that charges too much , it's opay or palmpay now , even the 50 stamp duty them no dey see am again , we transfer 9999 now instead of 10k, Nigerian banks are losing customers.

grandstar:
The real shocker is that the current tax rate is 24%. So, Tinubu 25% tax rate is only 1% higher.

The only difference I'd that this government wants to start collecting it. The days of brazen tax evasion is coming to an end.

The country's over reliance on crude oil for both its revenue and export ending needs to end. It's ruining the economy.

Also, to reduce your taxes, incorporate a limited liability company.

I doubt companies earning 40m or less pay tax.

Why not search Google using the AI search to get answers.

U are missing it, Nigeria has no business relying on fuel alone. Nigeria has lithium, has gas, has gold, has cashew, palm fruits, cocoa, the list goes on. But ur politicians are only interested in lavish life style. U cant win me on this.
I will school u more! Nigeria politicians are among the higest paid on earth with mind blowing packages.
Nigeria's problem is not lack of fund, nigerias's problem is wastage and corruption. Useless bicamera legistlature that contribute nothing to the country but get brand new cars eacch 4 years, cars worth over 240m. That is just that, the list goes on. We waste money on extremely unproductive governance system. A lot of our gets wasted. We have money, they get stollen. U cant be taxing such a poor country that way becus u should be looking for ways to increase purchasing power instead of reducing it since increased purchasing power will naturally bring in more investors.
U already cut down 8m plus from my income, it means I cant afford a lot of things come next year. I cant afford some stuff I could afford previously becus 8m already taken off my income. So, more businesses that relied on me will also miss out on this.
Now, did govt provide relief like healthcare, quality public school, which would have helped reduced how much I will spend on these things? No, govt has not fixed that. Infact, they have abandoned that and always use abroad for healthcare and education. We are foolish, but I am not. I wont buy into that.
Govt has failed in road system, if I show u the road I drive my sporty car on daily which increased my maintainance money, u will weep. U are taking 8m plus from my income but I still need to fix my car due to bad roads, pay expensive private school becus public schools are wack, same as healthcare, same as security, i need to fly else I maybe kidnapped on the road, and flight is expensive and will be more expensive next year.
People who earn 500k per month arent much in Nigeria. Most money among the youths come from the internet. Guys hustled and made a way for them selves, govt needed to help increase the purchasing power of nigerians so that business can strive well. Govt should make tech nomards to enjoy good tax here so that people can migrate to Nigeria as tech people and make money and spend less on tax and spend money within the Nigeria economy which will help grow the economy.
Govt should identify young Nigerians making good money online and partner with them to train NYSC graduates to help us have more Nigerians who earn well. This will reduce the rate of migration out of Nigeria, help us earn more $$ and increase the number of people who can build houses, it will solve a lot.
If u calculate the taxes Nigerians are paying now, it is more than 30 percent. That is too much for a poor country. The govt should drastically cut down on cost of governance, be serious with war against corruption, dedicate few years to fix education and healthcare, encourage young Nigerians to go into agricuture by solving security issues so we can farm. I wil love to invest in agriculture but I dey fear fulani herdsmen. Nigeria can be fixed if we are honest. It is not about increasing tax. As long as wastage and corruption persist and we have wacky electoral system, uncontrolled population, too much religious and tribal sentiment, it is a waste of time.
Let me burst ur head. In Nigeria today, I may decide to give birth to one child in order to cut down on cost but govt will tax me more for earning more and say they are protecting the poor who gave birth to 8 kids up north, right? Is there any measure to discourage people from birthing anyhow? How are we working towards restructuring Nigeria?
All loans taken, what is the benefit so far? but u want to take my 8m plus per year?
After NYSC, I got a job that paid me 35k per month, I worked like a machine. After one year plus, I resigned. Started learning online skill. Electricity was a problem. I used to go to betting shop to use their light since they on Gen. At night when I returned, i on my I pass my neigbour generator to help me while I learn until 3AM. It was hell becus we lacked electricity, we lacked water, foriegn companies didnt rate Nigerians due to our poor image, our IP gets blacklisted. I figured out a way is to charge foreign companies lesser since income sourced abroad wasnt taxed in the previous tax law. This strategy gave many online workers the leverage to earn smaller dollars. We were able to solve lots of problems govt couldnt solve for her citizens. But Tinubu came and messed that up.
Now, what advantage do we have since we pay same income tax like people in developed worlds even though those in developed worlds have way better infrastratcures than us and many social programmes that truly benefit the citizens. I cant be fooled.
U said register as limited liability. Lol, do u know how much lawers are charging, the filing each year, u will need an accountant. How do u take care of ur personal expenses such as parent care, family bills? How? U will pay ur self small salary to cut down on tax but that salary cant care for ur routine expenses. Brooooooooooooooooooooooooooo, fyck this country.

FreeStuffsNG:
Millions of Nigerians will experience significant financial relief from January 2026 as five frequently applied bank charges are set to be abolished under the Federal Government’s sweeping tax reform agenda.

This is a smart way that the administration of Asiwaju Tinubu, GCFR, will directly put money into your pocket.

Use this raise wisely and don't immediately spend it to upgrade your liabilities

Congratulations to Nigerians. Thank you Mr. President. May God bless you and the Federal Republic of Nigeria.

Mumu. What is the congratulations for exactly?

slivertongue:
Story for the gods. The reforms of remove here and add there

You know their game very well. Clueless govt

Princedapace:
U are missing it, Nigeria has no business relying on fuel alone. Nigeria has lithium, has gas, has gold, has cashew, palm fruits, cocoa, the list goes on. But ur politicians are only interested in lavish life style. U cant win me on this.
I will school u more! Nigeria politicians are among the higest paid on earth with mind blowing packages.
Nigeria's problem is not lack of fund, nigerias's problem is wastage and corruption. Useless bicamera legistlature that contribute nothing to the country but get brand new cars eacch 4 years, cars worth over 240m. That is just that, the list goes on. We waste money on extremely unproductive governance system. A lot of our gets wasted. We have money, they get stollen. U cant be taxing such a poor country that way becus u should be looking for ways to increase purchasing power instead of reducing it since increased purchasing power will naturally bring in more investors.
U already cut down 8m plus from my income, it means I cant afford a lot of things come next year. I cant afford some stuff I could afford previously becus 8m already taken off my income. So, more businesses that relied on me will also miss out on this.
Now, did govt provide relief like healthcare, quality public school, which would have helped reduced how much I will spend on these things? No, govt has not fixed that. Infact, they have abandoned that and always use abroad for healthcare and education. We are foolish, but I am not. I wont buy into that.
Govt has failed in road system, if I show u the road I drive my sporty car on daily which increased my maintainance money, u will weep. U are taking 8m plus from my income but I still need to fix my car due to bad roads, pay expensive private school becus public schools are wack, same as healthcare, same as security, i need to fly else I maybe kidnapped on the road, and flight is expensive and will be more expensive next year.
People who earn 500k per month arent much in Nigeria. Most money among the youths come from the internet. Guys hustled and made a way for them selves, govt needed to help increase the purchasing power of nigerians so that business can strive well. Govt should make tech nomards to enjoy good tax here so that people can migrate to Nigeria as tech people and make money and spend less on tax and spend money within the Nigeria economy which will help grow the economy.
Govt should identify young Nigerians making good money online and partner with them to train NYSC graduates to help us have more Nigerians who earn well. This will reduce the rate of migration out of Nigeria, help us earn more $$ and increase the number of people who can build houses, it will solve a lot.
If u calculate the taxes Nigerians are paying now, it is more than 30 percent. That is too much for a poor country. The govt should drastically cut down on cost of governance, be serious with war against corruption, dedicate few years to fix education and healthcare, encourage young Nigerians to go into agricuture by solving security issues so we can farm. I wil love to invest in agriculture but I dey fear fulani herdsmen. Nigeria can be fixed if we are honest. It is not about increasing tax. As long as wastage and corruption persist and we have wacky electoral system, uncontrolled population, too much religious and tribal sentiment, it is a waste of time.
Let me burst ur head. In Nigeria today, I may decide to give birth to one child in order to cut down on cost but govt will tax me more for earning more and say they are protecting the poor who gave birth to 8 kids up north, right? Is there any measure to discourage people from birthing anyhow? How are we working towards restructuring Nigeria?
All loans taken, what is the benefit so far? but u want to take my 8m plus per year?
After NYSC, I got a job that paid me 35k per month, I worked like a machine. After one year plus, I resigned. Started learning online skill. Electricity was a problem. I used to go to betting shop to use their light since they on Gen. At night when I returned, i on my I pass my neigbour generator to help me while I learn until 3AM. It was hell becus we lacked electricity, we lacked water, foriegn companies didnt rate Nigerians due to our poor image, our IP gets blacklisted. I figured out a way is to charge foreign companies lesser since income sourced abroad wasnt taxed in the previous tax law. This strategy gave many online workers the leverage to earn smaller dollars. We were able to solve lots of problems govt couldnt solve for her citizens. But Tinubu came and messed that up.
Now, what advantage do we have since we pay same income tax like people in developed worlds even though those in developed worlds have way better infrastratcures than us and many social programmes that truly benefit the citizens. I cant be fooled.
U said register as limited liability. Lol, do u know how much lawers are charging, the filing each year, u will need an accountant. How do u take care of ur personal expenses such as parent care, family bills? How? U will pay ur self small salary to cut down on tax but that salary cant care for ur routine expenses. Brooooooooooooooooooooooooooo, fyck this country.

No amount of prudent spending will resolve the country's Achille's Heel: low government revenue as a percentage of GDP.

Nigeria's is about 12%, which is one of the lowest in the world. It needs to touch at least 16%. Soludo, an economist said it should not be less than 22% of GDP.

It simply must go up.

Secondly, learn to listen.

Businessmen who want to reduce their tax burden find legal means mot to pay taxes or make it as low as possible. It is called tax avoidance.

For instance, a company with a turnover of 50m or less will not pay taxes.

For instance, as a freelancer. you could register a limited liability company which you will use for your freelancing business. Since your turnover is 40m, you won't tax.

grandstar:
No amount of prudent spending will resolve the country's Achille's Heel: low government revenue as a percentage of GDP.

Nigeria's is about 12%, which is one of the lowest in the world. It needs to touch at least 16%. Soludo, an economist said it should not be less than 22% of GDP.

It simply must go up.

Secondly, learn to listen.

Businessmen who want to reduce their tax burden find legal means mot to pay taxes or make it as low as possible. It is called tax avoidance.

For instance, a company with a turnover of 50m or less will not pay taxes.

For instance, as a freelancer. you could register a limited liability company which you will use for your freelancing business. Since your turnover is 40m, you won't tax.

U dont get it? Nigeria is wasteful. Cut down on governance cost, block corruption, fix vital needs such as electricity so that as u tax citizens, they can breathe. As it stands, Nigerians cant breathe and personal income tax will be wasted as it has always been wasted.
And for business as u said, u wont pay tax with 40m per year, yes. But u cant spend the money as it sits in corporate account.

galantjoe:
I can read only 3 charges - EMTL, stamp duty on TB and Intra bank transfer charges

Where is the fourth and 5th ones?.

This Taiwo is speaking with 2 sides of tongues. During Buhari govt he was an economic critic of PMB economy policies, then came BAT he started criticizing and advising govt to implement this and that via his X Platform. Eventually BAT roped him him in by appointing him as Chairman Presidential Fiscal Policy Committee charge with responsibility of putting new tax docs for Nigeria.

So far his tax reform laws are draconian, barbaric and anti people even worse than during PMB regime.

What do you know about the new Tax law? Nothing. If you know anything you will not write what you wrote.

galantjoe:
I can read only 3 charges - EMTL, stamp duty on TB and Intra bank transfer charges

Where is the fourth and 5th ones?.

This Taiwo is speaking with 2 sides of tongues. During Buhari govt he was an economic critic of PMB economy policies, then came BAT he started criticizing and advising govt to implement this and that via his X Platform. Eventually BAT roped him him in by appointing him as Chairman Presidential Fiscal Policy Committee charge with responsibility of putting new tax docs for Nigeria.

So far his tax reform laws are draconian, barbaric and anti people even worse than during PMB regime.

Bro, those tax polices can't be enforced.

Princedapace:
hahahaahahahahahahahahahaah
This is so funny. Do u think everyone is a fool here? He is introducing a whole 20 to 25 percent tax on my person income and u are clapping for 50 naira deduction removal?
Do u know what 25 percent is? So, as a freelancer, after I hustle find work online for abroad, hustle for fuel, hustle for bad roads, hustle for expensive healthcare for parents and for my self, I will still dash Tinubu 25 percent of my online hustle and u said that made me richer?
Now, let me school u.
Let say as a remote hustler, u make 40m per year as income. With the new tax, u will be paying around Total tax = 330,000 + 1,620,000 + 2,730,000 + 3,450,000 = ₦8,130,000. That is a whooping 8m plus reduced from ur purchasing power.
Now, hear the shocker. Before Tinubu, the 40m yearly was barely eniugh for u because since Nigeria is a poor country, u are surely dealing with black tax, that means u may have struggling parents u need to care for their health since Nigeria has no healthcare provision for citizens for free. U pay for expensive wakcy private healthcare.
Now, since Nigeria education is dead, u pay for expensive primary, secondary and university education since those provided by govt are wacky.
U will have bills as man of the house, more poeople are poor in Nigeria. Ur friends, siblings, somehow get some help from u. Now, govt has taken almost 9m from the 40m, u are left with 31m and yet Tinubu didnt provide any social plans for u, so u will still find ways to solve ur existing problems such as health care for elderly parents, healthcare for ur self, sort out electricity, had to deal with bad roads to constantly fix ur car, deal with insecurity by living in an expensive and secured estate where u pay for private security, deal with water by buying bottle water since govt has none for u, u will pay expensive school for ur kids. Omo, Tinubu reduced my purchasing power while providing nothing.
And here is the shocker, just as we cant account for fuel subsidy removal money, no proper anti corruption system since Baba wants re-election, he cant be trying governors who will help him win states, they will loot our money and go free.
No past president has been tried and sentenced, no politician has been sentenced to dealth for corruption, no electoral reform, no proper ways to bloack loopholes, but man will take almost 9m from my money and still leave me to hustle and attend to what even 40m couldnt fix.
Look, all of us arent foolish here. But as for me, I will use every legal means to avoid this, I cant spend my sweat on this god forsaking country. Dont forget I still have VAT to deal with, and other taxes o.

Bro,those taxation policies can't be enforced since banks are not authorized to deduct.