President Bola Tinubu has directed the Federal Ministry of Justice and the National Assembly to address concerns raised over the proposed Tax Reform Bills.

The bills, which aim to reshape Nigeria’s fiscal policies, have faced criticism from various quarters, particularly northern governors who claim the reforms could harm their region.

The reforms have been described by some critics as potentially impoverishing Nigerians and targeting the northern region.

However, the presidency has dismissed these allegations as unfounded.

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Minister of Information and National Orientation, Mohammed Idris, assured Nigerians that the government is committed to transparency and fairness.

“The government has nothing sinister to warrant the suggestion that the process is being rushed. In line with the established legislative procedure, the Federal Government welcomes meaningful inputs that can address whatever grey areas there may be in the bills,” Idris said in a statement on Tuesday.

He added that President Tinubu has mandated the Justice Ministry and relevant officials to work closely with the National Assembly to resolve any concerns before the bills are passed into law.

Idris lauded the public engagement on the issue, describing the debates as “commendable” and in line with democratic principles.

“It is very inspiring to see Nigerians from all walks of life coming out to express their views and opinions on these matters of critical national importance.

“In the spirit of democratic engagement, there should be no room for name-calling or the injection of unnecessary ethnic and regional slurs into this important national conversation.”

Addressing allegations that the bills are anti-north, Idris dismissed the claims as “fake news” and “misinformation.” He emphasized that the reforms are designed to benefit all Nigerians and would not marginalize any region.

“These fiscal reforms will not impoverish any state or region of the country, neither will they lead to the scrapping or weakening of any federal agencies,” he said.

The Tax Reform Bills were the focus of a recent town hall event hosted by Channels Television, where experts weighed in on the controversy.

Among the panelists were Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee; Yakubu Dogara, a former Speaker of the House of Representatives; and Governor Sule Abdullahi of Nasarawa State.

Oyedele defended the bills, highlighting their potential to transform the country’s fiscal system.

“These bills have more than 200 transformative provisions to fix our country and set us on the right path to prosperity,” he said.

“We should not allow one or two provisions that we can easily discuss and agree on to become the pain or the bottleneck.”

Dogara urged critics, particularly from the northern region, to avoid politicizing the issue. “I want to talk to my brothers in the North. I don’t think this is the time for us to begin to condemn the president and to begin to say that on account of these bills, he is anti-north,” he said.

Despite calls for the bills to be withdrawn, the Senate has already passed them through a second reading.

Stakeholders hope that Tinubu’s directive for a review will ensure that all concerns are addressed and the final legislation promotes equitable economic reforms.

A fire outbreak on Tuesday devastated Ita Amodu Market, Old Yidi Road, Ilorin, Kwara State, destroying goods and property worth millions of naira.

The inferno, which originated from a lorry loaded with mattresses, spread rapidly, leaving traders and residents reeling from the aftermath.

According to the Kwara State Fire Service, the fire began when the lorry collided with a high-tension wire, causing a spark that ignited the highly flammable mattresses.

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The flames engulfed the vehicle and spread to nearby buildings, affecting 47 rooms and 19 shops.

Speaking on the incident, the Public Relations Officer of the state fire service, Hassan Adekunle, described the scene as catastrophic.

“The fire destroyed the lorry and spread to a nearby building containing 47 rooms and 19 shops,” he said.

Despite the intensity of the blaze, firefighters managed to prevent further damage. “Our swift efforts saved 12 shops and 31 rooms, but unfortunately, 7 shops and 16 rooms were affected,” Adekunle added.

The situation was further worsened by an explosion from a step-down transformer located near the market.

“The highly flammable nature of the mattresses contributed to the swift spread of the fire. Additionally, the explosion of a nearby step-down transformer intensified the situation,” Adekunle noted.

He also highlighted the collaborative efforts that helped contain the fire.

“We received valuable assistance from the Federal Fire Service and the police, who ensured the safety of our team in the face of hoodlums attempting to disrupt the operation. We are also grateful to media houses for their timely notifications and real-time updates,” he stated.

Traders affected by the fire are calling for improved fire safety measures and greater support to recover from their losses.

The House of Representatives has launched an inquiry into the Central Bank of Nigeria’s (CBN) decision to retire over 1,000 staff, including top executives, as part of an alleged restructuring process.

The probe will also examine the N50 billion payoff scheme tied to the move.

The resolution followed a motion of urgent public importance sponsored by Rep. Kama Nkemkama (LP-Ebonyi) during Tuesday’s plenary session.

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The motion, titled “Need to Investigate the Retirement of Over 1,000 Staff of the Central Bank of Nigeria (CBN) and the Associated N50 Billion Payoff Scheme,” was unanimously adopted by the lawmakers.

A national media report on December 2 claimed the CBN was planning the mass retirement under the directive of its Governor.

The report suggested the payoff scheme was part of the restructuring process to compensate affected staff.

Presenting the motion, Nkemkama raised critical concerns about the plan.

He said, “The sudden mass retirement of over 1,000 staff, including directors and senior management, raises critical questions, including the criteria for selection, transparency, and adherence to due process in line with public service guidelines and labour laws.”

He added that the decision could lead to increased unemployment and public dissatisfaction.

“Such a significant decision has socio-economic implications for the affected individuals, their dependants, and the broader economy,” he said.

The lawmaker also criticized the N50 billion payoff scheme, warning that it might lack proper oversight.

“The reported payoff scheme amounting to N50 billion might lack sufficient accountability and oversight mechanisms, posing risks of mismanagement and abuse of public funds in a sector vital to Nigeria’s financial stability,” he noted.

Following deliberations, the House set up an ad hoc committee to investigate the planned retirements.

The committee will evaluate the legality, selection criteria, and processes involved in the exercise. It will also examine the payoff scheme to ensure transparency and proper utilization of funds.

The lawmakers resolved to engage with the CBN leadership to assess the economic and institutional impact of the retirements on Nigeria’s financial sector.

They also urged the CBN to suspend the exercise and the payoff scheme until the committee concludes its investigation.

The House further called on the Federal Ministry of Labour and Employment to ensure that the rights of the affected staff are protected.

The committee has been given four weeks to present its findings for further legislative action.