TIN not needed for Nigerians to have bank account - FG

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The bill will be defended this week at both the Senate and the House of Representatives

We start the news this morning with the Presidency as it says there is no provision in the Finance Bill (2022) that compels banks to request a Tax Identification Number before opening bank accounts for individuals and existing account holders.

The Presidency, in a statement titled ‘No TIN requirement for Nigerians to operate bank accounts in Finance Bill 2022, highlighted the main changes proposed under the bill.

According to the statement, changes proposed include the reduction of minimum tax rate from 0.5% to 0.25% of turnover to be applicable to any two accounting periods between January 1, 2019 and December 31, 2021.

The bill will be defended this week at both the Senate and the House of Representatives.

The Academic Staff Union of Universities (ASUU) over the weekend called on well-meaning Nigerians to prevail on the Federal Government to honour the agreement reached with the union.

The National Financial Secretary of ASUU, Musa Abdullahi, who made the call at a press conference, said the government’s action has left them with no other option than to withdraw their services. Abdullahi explained that the union was planning another strike because of the failure to fully implement the Memorandum of Agreement

And in the foreign scene,  
South African President Cyril Ramaphosa is receiving treatment for mild Covid-19 symptoms after testing positive on Sunday.
This is according to what the office of the presidency said in a statement.

The statement also says Ramaphosa "started feeling unwell after leaving the State Memorial Service in honor of former Deputy President FW de Klerk in Cape Town, It says the President is, however "in good spirits" and is being monitored.