Business Digest September 11, 2025

#BusinessDigestWithDrEIS

On BU$I₦£$$ DIG£$T this morning, September 11, 2025
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“`ATTITUDE OF NIGERIANS TOWARDS TAXES AND TAXATION “`

Based on recent research and surveys, the attitude of most Nigerians toward taxes is one of scepticism and distrust, leading to low tax morale and widespread non-compliance.

A survey by the Nigerian Economic Summit Group (NESG) found that over 80% of Nigerians are at least sympathetic to tax evasion.

This attitude is strongly influenced by a perceived lack of reciprocal public services, systemic corruption, and inefficient tax administration.

KEY FACTORS INFLUENCING PUBLIC ATTITUDE:

▪︎Broken Social contract

▪︎Poor Service Delivery

▪︎Invisible Benefits

▪︎Corruption and lack of transparency

▪︎Misuse of funds by Government

▪︎Inefficient and complex tax system

▪︎Poor Communication

▪︎Multiplicity of Taxes

If the above are not well addressed, enforcing compliance will be met with stiff resistance and the last option will be to prevent individuals from operating their bank accounts.

My candid advice to all banks in Nigeria will be as follows:

▶️The Central Bank of Nigeria should immediately mandate all banks to make provisions in adding Tax IDs to all bank accounts effective October 1, 2025.

▶️Banks should not wait until January 2026 before this commences. There will be too much pressure then.

It should also be such that these Tax IDs can be linked using the alternate channels without going into the banking halls.

This will reduce the crowd and turn around time from January 2026.

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Business Digest….your indispensable daily business companion.
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Yours-In-Entrepreneurship
*_Dr. Emmanuel Idenyi Shaibu_*
_animn, ace, f.hcd, f.dss, m.frcn, fimc, cmc, cms, FAiPA, DPA, FCCFI, FCALM-UK, CCFIP, CNA_
The Millennium Entrepreneur!
*MakingAMarkGlobally*