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Versat Automobile Limited is advancing plans to introduce EXEED, the premium automotive brand of Chinese automaker Chery, to Nigeria as competition in the country’s vehicle market continues to create opportunities for new entrants.

The company, which introduced the brand to Nigeria in August, is using its pre-launch activities to outline EXEED’s approach to vehicle technology, design and performance ahead of further disclosures about its products.

EXEED draws on Chery automotive research and development capabilities, including powertrain engineering, vehicle architecture, intelligent cabin systems and connected driving technology, according to Versat.

Christopher Irumudomon, general manager, sales at Versat Automobile Limited, said the entry was intended to introduce a different approach to premium mobility in Nigeria.

‘The introduction of EXEED is about more than bringing another automotive brand to Nigeria. It is about introducing a different perspective on premium mobility, one that brings together technology, design, performance and the freedom to explore,’ Irumudomon said.

The brand, which operates within the Chery Automobile group, uses the tagline ‘Born for More’ and positions itself around technology, design and driving experience.

Versat said the brand’s design philosophy combines exterior styling, lighting, cabin architecture and functionality, while its technology strategy focuses on connectivity, convenience and driving performance.

The company also cited changing expectations in Nigeria’s premium automotive market, where buyers are considering technology, comfort, design and ownership experience alongside conventional measures of luxury.

Beyond its automotive plans, Versat said its team would attend the International User Summit in China in October, where it would also engage with Aimoga, a high-end robotics brand, on developments at the intersection of technology and mobility.

The Oyo State Government, in collaboration with the International Labour Organisation (ILO), has called for stronger collaboration among Ministries, Departments and Agencies (MDAs) to improve data governance and enhance the delivery of social protection programmes across the state.

Oluwaseun Ojo, the Commissioner for Budget and Economic Planning, stated this during a two-day workshop on Strengthening Data Governance for the Social Protection Management Information System (SP-MIS), held at Kakanfo Guest Inn, Ibadan, in collaboration with the ILO.

The Commissioner, represented by the Director, Social Protection Coordination, Hadi Olanase, explained that reliable data and effective information management were essential to ensuring that government interventions reached those who needed them most.

Olanase added that the workshop would help translate assessment findings into practical measures to improve data quality, security, information sharing and interoperability among government systems.

He encouraged participating MDAs and Management Information System (MIS) officers to share experiences, identify challenges and propose sustainable solutions for strengthening social protection data governance in the state.

In his welcome remarks, the Permanent Secretary, Ministry of Budget and Economic Planning, Julius Ayanleke, represented by the Deputy Director Social Protection, Jimoh Adeleke, emphasised the importance of data sharing among MDAs to improve beneficiary identification, accountability and social protection delivery.

He urged stakeholders to protect beneficiaries’ personal information in line with the Nigeria Data Protection Act 2023.

In his goodwill message, the National Project Officer-SUSI, Benedict Obute, representing the ILO Country Director for Nigeria, Ghana, Liberia and Sierra Leone, Dr Vanessa Phala, stressed the need for coordinated and interoperable data systems to improve social protection delivery and reduce data fragmentation.

In her goodwill message, ActionAid Nigeria ESSPIN Programme Officer, Abidemi Ewuyemi, highlighted the importance of the National Social Register in identifying vulnerable households and informing policies, while reaffirming ActionAid’s commitment to strengthening social protection in Oyo State.

Nigeria needs updated data on micro, small and medium-sized enterprises (MSMEs) to guide policy decisions and improve access to finance, as the country’s estimate of 39.5 million businesses is based on data from 2020, John Owan Enoh, Minister of State for Industry, Trade and Investment, has said.

Enoh, who spoke during a panel session on MSMEs and the Informal Economy at the 32nd Nigerian Economic Summit in Abuja, said the absence of current data was undermining efforts to design effective interventions for small businesses, which account for the vast majority of businesses in the country and a significant share of employment.

He said MSMEs needed to be integrated into the value chains of large manufacturers and other businesses, while the government should make formalisation more attractive rather than treating it solely as a compliance requirement.

‘I think that the more we’re able to link up these MSMEs, you know, to big manufacturing and all of that, the more they’re able to have some kind of steady source of supplies, and all of that. And the only way they can achieve that is by getting them linked up to manufacturing and to all of that. So the more we do that, the better for us as a country.

‘You know, the data that we have today, we’re talking about 39 million MSMEs. It’s a data that has stayed on as a data for about six years, 2020. So we can’t continue to build on data that was created about six years ago. We need to be able to do a census of when we talk about MSMEs, who are we really talking about? What is the present state of the number? ,’ he said

Enoh said the Federal Government had introduced measures to reduce the cost of formalisation and improve access to finance, including waivers on Corporate Affairs Commission registration costs for 250,000 MSMEs through an initiative involving the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

He also cited Nigeria’s tax policy, which exempts companies with annual turnover below N100 million from company income tax, as an incentive intended to ease the burden on smaller businesses.

According to him, formal registration and access to relevant documentation, including tax identification, can help businesses qualify for loans and other support programmes.

However, many small businesses remain informal and struggle to meet the documentation requirements attached to intervention funds, limiting their ability to benefit from government-backed financing.

Enoh said MSMEs also faced high energy costs and limited access to affordable, long-term finance. He noted that although intervention programmes had been established to support businesses, smaller enterprises often found it difficult to satisfy the requirements for accessing the funds.

He cited a N200 billion intervention fund that included a N5 billion allocation for MSMEs, saying businesses without adequate records and formal structures could struggle to access such support.

SMEDAN, he added, had about N12 billion in soft loans available at interest rates of between 7 and 8 percent.

The minister argued that formalisation should be accompanied by practical benefits, including access to finance, markets and business opportunities, rather than being driven mainly by regulatory demands.

Olusegun Alebiosu, Group Managing Director and Chief Executive Officer of FirstBank, said MSMEs were too broad a category to be addressed through a single financing model, urging policymakers and lenders to develop interventions suited to businesses at different stages of growth.

‘We have so many different initiatives attacking or overlapping the matter when it comes to MSMEs. And there’s some expectations that may be misaligned. So even from a banking perspective, when we hear the word MSMEs, that’s so broad. Like the needs of a micro enterprise or a petty trader is very different from a chain of fast food restaurants if you think about how different they are in terms of what they do, the structure you would expect out of them.

‘So there needs to be more tailored engagement and the different parts of the country, whether it’s across public or private sector, need to understand where their role starts and stops,’ he said

He said banks operated as commercial institutions and needed to assess the viability and cash flow of businesses before extending credit, rather than relying solely on collateral.

Alebiosu said FirstBank had introduced products designed to meet different business needs, including First Gear and FirstGem for women-owned enterprises, First Trader Solution, which offers financing based on account activity without collateral, and FirstCredit for short-term working capital.

He said the bank had disbursed more than N1 trillion through FirstCredit since the product was introduced.

Alebiosu called for stronger coordination among policymakers, commercial banks, microfinance institutions and development finance institutions to ensure that support reaches businesses that need it.

‘So sometimes I hear it a lot around what banks need to do to expand SMEs. They’re not charity organizations, right? You have government there for a reason as a backstop and as the policy creator and to guide that direction. And once government gets that right and continues to do so, we’re seeing some improvement. Then we can lend with some level of assurance that we are going to get our monies back,’ he added

Funabashi Gaku, an economist and fellow in small and medium enterprise development at the Japan International Cooperation Agency (JICA), said SME policies should clearly identify their target groups and be adapted to local economic conditions rather than copied wholesale from other countries.

He noted that policies for small businesses had both economic and social objectives, making it important for governments to define the problems they intended to solve and tailor support accordingly.

Oluyemisi Obe, chief executive officer of Prothrive Astute Heights, said support for MSMEs should evolve as businesses grow, with different categories requiring different forms of assistance.

Obe also called for policies to be translated into laws and sustained frameworks to ensure continuity beyond announcements and policy documents.

Participants at the session further identified weak coordination between federal and subnational governments, limited access to markets and a difficult business environment as constraints on MSME growth.

They called for improved business data, better alignment between MSME and industrial policies, stronger public-private partnerships and reforms to reduce the burden of permits, land documentation and contract enforcement.

The speakers said government support should go beyond providing loans to include helping small businesses secure markets, participate in public procurement and supply larger manufacturers.

They argued that linking MSMEs to established value chains could help them expand production, improve their business records and become more attractive to lenders.

Nigeria recorded higher inflows from diaspora remittances in the second quarter of 2026, but the gains were partly offset by rising payments on foreign investments, highlighting competing pressures on the country’s external accounts.

The secondary income account surplus rose to $6.30 billion in the second quarter of 2026, from $5.47 billion in the preceding quarter, largely driven by a 10 percent increase in diaspora remittance inflows to $5.82 billion.

However, the primary income account deficit widened to $4.20 billion from $3.23 billion in the first quarter, reflecting higher interest payments on portfolio investment liabilities and increased earnings accruing to non-resident investors.

The figures highlight the dual impact of international financial flows on Nigeria’s external position, with remittances providing a significant source of foreign exchange while payments on foreign investments and external loans contributed to higher income outflows.

According to the Central Bank’s report, the improvement in the secondary income account reflected sustained gains from the Central Bank of Nigeria’s ongoing reforms, particularly the narrowing spread between the official and parallel exchange rates, which reduced the incentive to route remittances through informal markets.

General government transfers also increased to $530 million in the second quarter, from $220 million in the preceding quarter, further supporting the secondary income surplus.

On the other hand, the deficit in the investment income sub-account widened to $4.50 billion from $3.47 billion in the first quarter, driven mainly by a higher deficit in portfolio investment income, which increased by 20.3 percent to $2.49 billion.

Interest payments on short-term instruments held by non-resident investors rose to $2.11 billion from $1.90 billion, while payments on long-term debt securities increased to $480 million from $190 million.

The deficit in direct investment income also widened to $1.82 billion from $1.40 billion, reflecting higher reinvested earnings accruing to non-resident investors, which rose to $900 million from $780 million.

At the same time, earnings on residents’ direct investments abroad fell to $110 million from $430 million, contributing to the widening deficit.

Dividend payments to non-resident investors moderated slightly to $1.02 billion from $1.04 billion, while income on reserve assets declined to $530 million from $570 million.

The deficit in other investment income also widened to $710 million from $630 million, reflecting higher interest payments on external loan liabilities. However, the surplus in the compensation of employees sub-account increased to $300 million from $240 million in the preceding quarter.

Beyond the income accounts, Nigeria recorded a higher net foreign exchange inflow of $21.09 billion in the second quarter, compared with $20.30 billion in the first quarter, supported by a decline in aggregate foreign exchange outflows.

Total foreign exchange inflows fell by 4.24 percent to $30.03 billion from $31.36 billion, while outflows declined by 19.17 percent to $8.94 billion from $11.06 billion.

Foreign exchange inflows through the Central Bank fell by 20.47 percent to $8.12 billion from $10.21 billion, while inflows through autonomous sources increased by 3.59 percent to $21.91 billion from $21.15 billion.

Consequently, autonomous sources recorded a net inflow of $17.74 billion, compared with $17.53 billion in the first quarter. The Central Bank’s net inflow also increased to $3.35 billion from $2.77 billion.

Meanwhile, average turnover at the Nigerian Foreign Exchange Market declined by 7.56 percent to $530.42 million from $573.81 million in the preceding quarter.

The average exchange rate of the naira strengthened to N1,365.95 per dollar in the second quarter from N1,384.48 in the first quarter, representing a 1.36 percent appreciation during the review period.

The performance of other emerging-market currencies was mixed during the quarter. The Chinese renminbi and Russian ruble appreciated by 1.74 percent and 5.33 percent, respectively, supported by export earnings and other market factors, while the South African rand depreciated by 0.79 percent amid global risk aversion linked to uncertainty in the Middle East and domestic concerns over anti-immigration demonstrations.

AFRIDATA, a pan-African digital infrastructure company, has signed a $1.87 million grant agreement with the United States Trade and Development Agency (USTDA) to conduct a feasibility study for a proposed data centre project in Nigeria estimated to cost between $650 million and $1 billion.

The agreement was announced at a ceremony and stakeholder meeting at the Transcorp Hilton in Abuja, marking the formal launch of the AFRIDATA Nigeria project.

The project is the first phase of a planned $2 billion to $3 billion digital infrastructure investment across eight African countries, with Nigeria expected to serve as a regional hub for data storage, cloud computing and artificial intelligence (AI) services.

Ezekiel Odiogo, senior managing director of INFRAGORA Global Capital, which is championing the AFRIDATA platform, said the project would create jobs and strengthen Nigeria’s position in Africa’s digital economy.

‘AFRIDATA Nigeria will make Nigeria the regional center of Africa’s digital infrastructure, creating thousands of jobs for young people and women and boosting productivity and growth across West Africa. USTDA’s early support has been catalytic. We look forward to working in partnership with all key stakeholders to make this project a success,’ Odiogo said.

Thomas R. Hardy, USTDA’s deputy director, said the project would support Nigeria’s digital economy and create opportunities for American businesses.

‘As nations across Africa lay the groundwork for deploying artificial intelligence solutions, it’s critical that they do so on a foundation of trusted, secure technology.

‘This support will grow Nigeria’s digital economy while creating new opportunities for American companies to compete and win in one of the world’s fastest-growing markets,’ Hardy said.

The feasibility study will assess the technical and financial requirements for two proposed data centres: a major facility in Lagos and a second facility in Delta State to provide backup services and support recovery in the event of disruptions.

The Lagos facility is being designed to meet Tier IV reliability standards, a classification associated with highly resilient data centre infrastructure. INFRAGORA is considering locating the facility within the Lagos Free Zone.

The two facilities are expected to provide between 60 and 70 megawatts of capacity, with the potential to expand to 100 megawatts. They would accommodate more than 4,000 server racks, including equipment designed to support AI applications.

The study will also examine plans for dedicated electricity supply using gas and renewable energy, as well as connections to the Equiano and 2Africa submarine cable systems, which carry international internet traffic.

Beyond the data centres, AFRIDATA plans to establish an information and communications technology (ICT) business park for technology companies, start-ups, small businesses and government digital programmes.

KPMG, the project’s transaction adviser, presented the implementation roadmap at the event. Participants also received a preview of Oria, AFRIDATA’s proposed artificial intelligence assistant.

The investment is expected to generate thousands of direct and indirect jobs in construction, engineering, cybersecurity, data centre operations and other digital services.

AFRIDATA also plans to establish the AFRIDATA Academy as a regional training centre for artificial intelligence, data management and cybersecurity, with a focus on preparing young people, particularly women, for employment in the digital economy.

The company said improved local data infrastructure would help banks, telecommunications operators, manufacturers, start-ups, small businesses and government agencies access cloud computing and AI services more quickly, securely and affordably.

Africa has nearly one-fifth of the world’s population but accounts for less than one per cent of global data centre capacity, according to the project announcement. This shortage has increased reliance on servers located outside the continent, potentially affecting connection speeds and raising concerns about data security.

AFRIDATA said its Nigerian facilities would help address the gap by keeping more data and digital services within the continent while supporting the development of local technology businesses.

The company also plans to connect Nigeria’s digital infrastructure with neighbouring West African markets, with the aim of attracting international investment, strengthening regional cooperation and expanding access to AI services.

Nigeria is the first of eight planned markets in AFRIDATA’s continental expansion programme, which will cover all five regions of Africa.

Other proposed projects include a 200-megawatt, green-powered data centre campus in South Africa and a 50-60-megawatt facility in Angola along the Lobito Corridor.

The expansion plan also includes Cameroon, Côte d’Ivoire, Egypt, Ghana and Kenya.

A support group, the Renewed Hope Ambassadors(RHA), has promised to ensure that President Bola Tinubu wins the 2027 election in all the units, wards and local government areas in Akwa Ibom State.

The group, which is a coalition of other support groups, also pledged to reelect Godswill Akpabio, the Senate President, Umo Eno, the Akwa Ibom State Governor and other candidates of the All Progressives Congress(APC).

Prince Ikim, State coordinator of the group, who made the promise on Tuesday during a breakfast meeting with local government and ward coordinators, extolled the economic reforms of the Tinubu administration, noting that Nigeria’s economy would have collapsed irretrievably if the Naira was not stabilised and fuel subsidy removed.

He said, ‘This meeting is long overdue, and it is to bring us together because we are of one party. This meeting is to bring us together because we have one message, and what is the message? It is the message of the Renewed Hope Agenda.

‘What is the message? It is the message of the ARISE Agenda. Let us be sincere: as far as this country is concerned, this is the first time we have a president with the political will to stand firm and pull out the fuel subsidy, political will to carry out reforms to better this country.

‘As far as this country is concerned, if we did not have a President like President Bola Ahmed Tinubu, this country would have collapsed. Let us be sincere; without that political will, we wouldn’t have success.

‘As I speak with you today, there is no gainsaying that local governments and state governments have more money to embark on people-oriented projects. I give credit to President Bola Tinubu for all the projects done in Akwa Ibom State.

‘If you watch the 2023 campaign clips of President Bola Tinubu, you will confirm that everything he said he would do, he has done. Likewise, our Governor Pastor Umo Eno.

‘So let us take the message of the Renewed Hope Agenda to the grassroots; let us take the message of the ARISE Agenda to the grassroots. We have to reward them with votes, not just votes, but massive votes.

‘I also thank Governor Umo Eno because that is a man who knows our support and capacity. That is a man who nominated all of us, especially me as the state coordinator of the Renewed Hope Ambassadors’.

Also speaking, Aniekame Uko, a former speaker of the Akwa Ibom State House of Assembly, promised that the Renewed Hope Ambassadors as a group would galvanise votes for Tinubu, Akpabio and Eno and other APC candidates in the 2027 elections.

Speaking for Eket Senatorial District, Charles Mbong, a former member of the state House of Assembly, called for extensive sensitisation to enable voters in the state to get their PVCs.

‘We cannot win the upcoming election without encouraging our supporters to get their PVCs. Returning Tinubu, Akpabio, Umo Eno and other APC candidates is a task that must be done’, he said.

FirstBank, Guaranty Trust Bank (GTBank), United Bank for Africa (UBA) and Zenith Bank have been listed among Nigerian banks whose eligible cards support Google Wallet, expanding access to Google Pay as the digital wallet launches in the country.

The service allows eligible cardholders to add supported bank cards to Google Wallet and make payments using compatible devices at supported contactless terminals.

Customers can also use Google Pay for online purchases where the payment option is available. Google says contactless payments require an Android phone with near-field communication (NFC), while individual card eligibility depends on the issuing bank.

FirstBank said the integration would give customers a convenient payment option backed by Google Pay’s security features and faster checkout.

‘At FirstBank, we are constantly evolving our digital capabilities to deliver banking experiences that are simple, secure and aligned with the lifestyle of our customers,’ said Abednego Ugwueke, the bank’s group head of e-Business and Retail Products.

UBA has also enabled Google Pay for eligible Visa and Mastercard users.

‘Our customers live busy lives, and the way they pay should make those lives easier. For many of them, the phone is the first thing they reach for, so it makes sense for it to become their wallet too,’ said Orry Seem, UBA’s directorate head of Cards.

Alero Ladipo, UBA’s group head of Brands, Marketing and Corporate Communications, said customers increasingly expected more convenient ways to pay.

‘Digital payment in Nigeria is growing fast, and customers expect more ways to pay,’ she said, adding that Google Pay offers a fast option for everyday purchases backed by UBA card security.

GTCO, the parent company of GTBank, has extended the service to customers and businesses through its payments subsidiary, HabariPay, and its Squad payment gateway.

GTBank customers can add eligible debit cards to Google Wallet to pay online for subscriptions, travel bookings, food delivery and bills. Squad merchants can also offer Google Pay at checkout, including for international customers where their payment setup supports overseas transactions.

‘Most failed online payments are not refused; they are abandoned. Somewhere along the way the customer gives up, and the business never learns about the sale it lost,’ said Segun Agbaje, GTCO’s group chief executive officer.

HabariPay managing director Eduofon Japhet said Squad merchants could add the payment option to their existing checkout without a separate integration.

Google’s official support list also includes eligible Zenith Bank Mastercard credit, debit and prepaid cards. The supported card categories vary across the four banks, meaning availability is not universal for every cardholder.

The rollout gives customers additional ways to pay digitally while creating more opportunities for merchants to offer faster checkout options.

f the institutions surveyed still needs to make progress before the deadline, although the survey’s readiness categories and the distinction between institutions that have not started and those that are not yet fully ready require clarification.

Yusuf said the CBN was analysing feedback from the industry and would consider adjustments where justified. She did not announce an extension to the January deadline.

The regulator also said its supervisory arrangements had been strengthened through the establishment of the Payments System Supervision Department in 2025 and the training of examiners responsible for oversight of the payment ecosystem.

Localisation raises questions over cost and capacity

The expansion of data localisation to government institutions would increase the importance of domestic cloud capacity, cybersecurity, reliable electricity, data centre resilience and the availability of skilled technology professionals.

For local providers, the opportunity could extend beyond hosting government data to supplying cloud infrastructure, cybersecurity, disaster recovery and related digital services. However, the scale of that opportunity will depend on the procurement rules, technical requirements and implementation timetable adopted by the government.

Local storage alone would not eliminate all risks associated with digital infrastructure. Government institutions would still need adequate safeguards against cyberattacks, data loss, service outages and unauthorised access, alongside arrangements for backup, recovery and continuity of essential services.

The transition could also entail costs for institutions that currently rely on overseas cloud contracts or infrastructure, including migration expenses, system upgrades and the management of data across different platforms.

Neither NITDA nor the CBN disclosed a comprehensive estimate of the cost of implementing the wider localisation drive or the additional domestic infrastructure capacity required to support it.

The government’s own technology spending could help stimulate local supply if procurement is coordinated and domestic providers can meet the required standards. But the N3.8 trillion expenditure figure alone does not establish how much could be redirected to local cloud services or how quickly such a shift could occur.

For now, the financial sector remains the first test of Nigeria’s approach, with the January 1, 2027 deadline approaching. The subsequent extension of the framework to MDAs would mark a broader phase of the policy, bringing government technology procurement and public-sector data management into the country’s push for greater digital sovereignty.

Twenty-one states have adopted a harmonised tax law designed to curb multiple taxation, eliminate illegal levies and improve the business environment, as Nigeria’s tax reforms begin to deliver higher revenue alongside lower tax burdens for most income earners, the Joint Revenue Board (JRB) has said.

Olusegun Philip Adesokan, executive secretary, JRB, disclosed this at a press briefing in Abuja on wednesday, saying revenue collections across 23 states rose by 27 percent between January and June 2026 compared with the corresponding period of 2025.

The board said the increase came as the new tax regime reduced or eliminated personal income tax for a large proportion of earners, reinforcing the government’s stated objective of taxing prosperity rather than poverty.

Adesokan said 92 percent of income earners across the states covered by the board’s data were paying lower or zero income tax under the new regime, with the reforms intended to shift more of the burden towards those with greater capacity to pay.

‘The aim is to ensure that those who can afford to pay taxes contribute their fair share. We should not target people who are struggling to make ends meet; instead, we should focus on those with the capacity to pay,’ he said.

he said.

The harmonised tax law, developed in conjunction with the Presidential Committee on Fiscal Policy and Tax Reforms, seeks to simplify the fragmented system of state-level taxes, levies and charges that businesses have long criticised for increasing operating costs and creating uncertainty.

Adesokan said the model had consolidated hundreds of tax rates into nine categories, covering income tax, stamp duty, property tax, road tax, employment development levy, harmonised taxes, residual charges and daily ticketing, among others.

The board wants all states to adopt the framework, which prohibits practices including the mounting of roadblocks for tax collection, cash collection of taxes and the sale of unauthorised stickers and emblems. The law also provides penalties for violations.

The reforms are expected to reduce the burden on businesses operating across state boundaries, where inconsistent levies and overlapping demands from different authorities have complicated the movement of goods and raised costs.

The JRB is working with the police and state revenue authorities to establish a nationwide enforcement structure against illegal tax collectors operating along road transport corridors. The proposed task force is expected to extend to local government areas.

Adesokan said illegal collections contributed to high transportation costs because businesses were often compelled to pay multiple levies while moving goods between locations. Removing these charges, he said, could improve the movement of goods and ease pressure on prices.

‘The plan is that once we can clear them up, it truly impacts the prices of goods. It will create a freer environment for business to thrive. Ultimately, more money in the hands of Nigerians,’ he said.

The board also cited the new personal income tax structure as evidence that the reforms were changing the distribution of the tax burden. Under the regime effective from January 1, 2026, the first N800,000 of annual taxable income is taxed at zero percent, while the top personal income tax rate is 25 percent.

Adesokan said the revised framework expanded eligible deductions to include items such as mortgage interest and rent relief, alongside pension contributions and other qualifying deductions. He illustrated the impact using an annual income of N20 million, saying the revised calculation could increase monthly take-home pay by more than N80,000, depending on eligible deductions.

The JRB also highlighted the National Tax Identification system, developed in collaboration with the Nigerian Revenue Service, as a means of linking taxpayers’ records across jurisdictions. The system is intended to help authorities verify tax compliance and reduce instances in which individuals and businesses face repeated demands because their records cannot be confirmed across states.

The board said the new tax framework also provides more uniform rules for taxing the informal sector. Businesses with annual turnover of up to N3 million are exempt from income tax under the provisions cited by Adesokan, alongside specified categories of small operators, including roadside food vendors, mobile barbers and tailors.

He said the reforms were designed not to introduce new taxes but to simplify administration, improve compliance and ensure that people with greater means pay their fair share.

The JRB’s mandate under the Joint Revenue Board Establishment Act 2025 includes maintaining a coordinated database of tax identification numbers, resolving disputes between tax authorities, harmonising tax rates and facilitating revenue data exchange between federal and state agencies.

Adesokan said the success of the reforms would depend on their ability to help businesses expand, create jobs and spread prosperity, rather than simply increase government revenue.

The Federal High Court in Abuja has dismissed a N10 billion fundamental rights suit filed by Nollywood actor Emeka Ike against Lere Olayinka, senior special assistant to Nyesom Wike, minister of the Federal Capital Territory, and the Independent National Electoral Commission (INEC) over the publication of his voter registration details on social media.

Justice Salim Ibrahim, in a judgment delivered on Wednesday, upheld the respondents’ preliminary objections, ruling that the suit was incompetent and improperly constituted. The court also dismissed the substantive suit for lack of proof.

Ike had accused Olayinka of violating his right to privacy and data protection by publishing details of his voter registration transfer from Imo State to Abuja on his X account in May.

The actor sought to contest the 2027 House of Representatives election for the Abuja Municipal Area Council/Bwari Federal Constituency on the platform of the Nigeria Democratic Congress but lost the party’s primary election.

In the suit marked FHC/ABJ/CS/1272/2026, filed through his lawyer, L. T. Adeh, Ike asked the court to declare that publishing his voter information without his consent violated Section 37 of the 1999 Constitution, Article 12 of the Universal Declaration of Human Rights, and Sections 24 and 39 of the Nigeria Data Protection Act, 2023.

He also asked the court to declare that INEC had a statutory duty to protect voters’ personal data against unauthorised access and disclosure.

Ike sought N10 billion in general and aggravated damages against the respondents, jointly and severally. He also asked the court to order Olayinka to remove the post from his X account, retract the publication and issue a written apology.

He argued that an INEC press release issued on June 2 in response to the publication amounted to an admission of liability.

Both respondents urged the court to dismiss the suit.

INEC, in a counter-affidavit deposed to by Anthonia Makwe, an assistant director and data protection officer in its Legal Drafting and Clearance Department, argued that the information in question was neither classified nor confidential.

The commission said the publication of voter information was part of its statutory responsibilities under the Constitution, the Electoral Act, 2026, and the Nigeria Data Protection Act, 2023.

It also denied that the information published by Olayinka originated from its systems, maintaining that it had not breached its duty to protect voters’ information held in its secured portal and restricted database.

Olayinka, in his counter-affidavit, said the document he published contained only Ike’s name and passport photograph, which he claimed were already in the public domain.

He denied obtaining the information unlawfully and argued that he owed Ike no duty of confidentiality that required his consent before publishing the material.

Olayinka also argued that Ike had made his identity and photograph public by seeking political office and working as a Nollywood actor.

He said the publication was intended to draw attention to Ike’s voter registration transfer and the relevant provisions of the Electoral Act.

According to Olayinka, the publication followed an incident in which Ike allegedly led a group of people to INEC’s office and disrupted its activities after declaring his intention to contest the election.

He also cited INEC’s June 2 statement, which he said confirmed that there had been no external breach of the commission’s continuous voter registration database, hacking incident or unauthorised external access to its information technology infrastructure.

Olayinka maintained that he was not a data controller under the Nigeria Data Protection Act and had no obligation to safeguard information already available to the public. He described Ike’s N10 billion claim as being made in bad faith and urged the court to dismiss the suit.

The court dismissed the suit after upholding the respondents’ preliminary objections and finding that the substantive claims had not been proved.