The Federal Government has proposed a five per cent excise duty on telecommunications services, gaming, and betting activities as part of a new bill to overhaul Nigeria’s tax framework. The bill, titled, “A Bill for an Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks relating to Taxation and Enact the Nigeria Tax Act to Provide for …

Former President Olusegun Obasanjo, yesterday, revealed how the former military Head of State, Gen. Abdulsalami Abubakar (retd), almost denied Nigeria a $280 million telecommunications deal. Obasanjo said when Nigeria was about to transit from landline telephones to mobile phones, some major telecommunication companies approached the country seeking to provide mobile lines for the citizenry, but Abubakar wanted to award the …

Telecom companies in Nigeria have decried the N200 billion debt owed by the banks for the Unstructured Supplementary Service Data (USSD) provided by telecom operators. According to them, the debt, coupled with the 52 taxes, could cripple their operation in the country if the federal government does not intervene. The companies under the aegis of the Association of Licenced Telecom …

Telecommunication firms are considering a repayment plan proposed by Deposit Money Banks to end the N120 billion debt on the Unstructured Supplementary Service Data service (USSD), according to The PUNCH. A source said the Central Bank of Nigeria (CBN) was intervening in the dispute, and planned a meeting with both parties. According to a source in the Association of Licensed …

The Nigerian Communications Commission (NCC) has granted telecommunications operators in Nigeria the approval to disconnect banks over N120 billion unstructured supplementary service data (USSD) debt, according to the Association of Licensed Telecommunications Operators of Nigeria (ALTON). ALTON Chairman Mr Gbenga Adebayo in Lagos said in a statement on Friday that the Mobile Network Operators (MNOs) would disconnect banks if they failed …

The Minister of Communications and Digital Economy, Isa Pantami has asked telecommunication firms and other stakeholders in the sector to ignore any attempt to impose a five per cent excise duty on telecom services. According to the minister, the sector has been excluded from excise duty tax with approval from President Muhammadu Buhari, which was announced on the 21st March, …