Business
Fresh trouble for Senate President, Bukola Saraki as witness exposes more atrocities in court
The first prosecution witness in the ongoing trial of the Senate President, Dr. Bukola Saraki, Mr. Michael Wetkas, told the Code of Conduct Tribunal on Tuesday that Saraki bought a property worth N375m in London in 2010 which he did not declare.
Saraki is being prosecuted on 16 counts, including false and anticipatory asset declaration which he allegedly made when he was the governor of Kwara State between 2003 and 2007.
Wetkas said under cross-examination by defence counsel, Mr. Paul Usoro (SAN), that the Senate President neither declared the London property nor the liability of the loan in his asset declaration form submitted to the Code of Conduct Bureau at the end of his second term as governor in 2011.
Usoro disputed Count 11 of the charges, in which Saraki was accused of failing to declare his liability of N375m loan and the London property.
Usoro said the Senate President was not bound to declare the N375m as his liability because as of the time he made his end of tenure asset declaration as governor on June 3, 2011 his debit balance was about N36m.
But Wetkas said while it was true that that the debit balance on the account was N36m as of May 31, 2011, Saraki failed to declare the property he allegedly acquired in London with the loan.
The witness said, “There are two issues. The issue of the loan and the issue of property he used the loan to buy in London.
“Our position is that we are aware that the outstanding balance was not N375m but N36,042,202.04 as at that date.
“But if that loan was taken for something else apart from property, we would not have made an issue out of it. But it was taken to buy a property. Our position is that, that property should have been declared in this asset declaration form of 2011. And if it was declared in the asset declaration form, the source of how the property was acquired would have been declared that the money was sourced through loan.”
While fielding questions on the alleged anticipatory asset declaration by Saraki, the witness maintained that 5A and B McDonald Road , Ikoyi, Lagos, on assuming office as the Kwara State governor in 2003 was the same as 15 McDonald Road Ikoyi, Lagos.
He said the Presidential Implementation Committee on the Sale of Federal Government’s Properties confirmed that it sold 15 McDonald Road, Ikoyi, to Saraki through the Senate President’s company, Tiny-Tee Limited, in 2006.
But, the witness said Saraki claimed in his asset declaration form submitted to the Code of Conduct Bureau on assumption of office in 2003 that he acquired 15A and B McDonald Ikoyi, Lagos, through Carlisle Properties Limited in 2006.
He added, “I have always said it in my evidence about 15 McDonald Road, Ikoyi. We maintain our position that that property was one and the same property that the implementation committee wrote to us about.
“The implementation committee did not tell us that there existed15 A and B separately.
“The Managing Director of Carlisle Property, Mr. Izuagbe, also talked about 15 McDonald as the property belonging to the defendant (Saraki) and the defendant in the asset declaration which he made in 2011 and 2015, delcared the property as 15 McDonald Road, Ikoyi; he no longer said 15A and B.
“That is why we maintained the same position that it is the same property. The nomenclature is just at convenience of the defendant.”
The witness confirmed that the Certificate of Occupancy for the property at 15 McDonald Road, Ikoyi, was issued in the name of Tiny Tee Limited and not in Saraki’s name.
On why he concluded that the property belonged to Saraki, Wetkas said that the asset at 15 McDonald Road, Ikoyi, Lagos, was paid for by Saraki through the bank accounts of two other companies which Saraki had declared its interest in.
He also said the Managing Director of two of Saraki’s companies; Carlisle Properties and Investment Limited and Sky View Properties, Mr. Sule Izuagbe, confirmed that the payment for the property was made on the instruction given by the Senate President.
But Saraki’s lawyer, Usoro, said the defendant being an ordinary shareholder in the companies, he could not have been said to be the owner of the assets acquired by the firms.
Usoro said Carlisle and Skyview were both limited liability companies and thus had separate personalities different from that of Saraki.
In response, the lead prosecuting counsel, Mr. Rotimi Jacobs (SAN), said the issue of ownership of the property was clear as Saraki himself had declared the property as his in his asset declaration form.
Earlier on Tuesday, the Chairman of the Code of Conduct Tribunal, Danladi Umar, revealed that there were attempts to influence the tribunal to rule in a particular way during the trial of a former Governor of Lagos State, and the National Leader of the All Progressives Congress, Bola Tinubu.
Umar said at the opening of the trial of Saraki on charges of false and anticipatory asset declaration, among others, on Tuesday, that despite the pressure mounted on the panel members during Tinubu’s trial, the tribunal ruled on what was put before it.
The CCT chairman said this while allaying the fears of Saraki and his lawyers that the tribunal was being controlled by external influence.
He assured the defence team of the determination of the tribunal to do justice in the case as he and his co-panel member would give account to God.
He said, “I want to say that during Bola Tinubu’s case we were under serious influence. But you saw what happened. We did what we needed to do and discharged based on what was before us.
“So we must be fair to ourselves not to delay this trial.”
Business
Deadline of Compliance: Nigeria’s Urgent Call for Tax Return Filing
Deadline of Compliance: Nigeria’s Urgent Call for Tax Return Filing
By George Omagbemi Sylvester | Published by SaharaWeeklyNG.com
“Shift or Structural Demand? A Declaration of Civic Duty in a Nation at a Fiscal Crossroads.”
In the unfolding narrative of national development and economic reform, few instruments are as defining as tax compliance. For Nigeria, a nation perpetually grappling with revenue shortfalls, structural dependency on a single export commodity, and entrenched informal economic behaviour, the Federal Government’s recent clarification on tax return deadlines is not mere bureaucratic noise. It is a deliberate and inescapable declaration: the social contract between citizen and state must be honoured through transparent, lawful and timely tax reporting.
At its core, the government’s pronouncement is stark in its simplicity and radical in its implications. Federal authorities, speaking through the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, have made it unequivocally clear that every Nigerian, whether employer or individual taxpayer, must file annual tax returns under the law. This encompasses self-assessment filings by individuals that too many assumed ended once employers deducted pay-as-you-earn taxes from their salaries.
This is not an optional civic suggestion, it is mandatory, backed by statute, and tied to a broader vision of national fiscal responsibility. Citizens can no longer hide behind ignorance, apathy, or false assumptions. “Many people assume that if their employer deducts tax from their salaries, their obligations end there. That is wrong,” Oyedele warned, emphasizing that the obligation to file remains with the individual under both existing and newly reformed tax laws.
The Deadlines and the Reality They Reveal.
Across the federation, state and federal revenue authorities have reaffirmed statutory deadlines in pursuit of compliance. The Lagos State Internal Revenue Service, for instance, moved to extend its filing date for employer returns by a narrow window, reflecting the reality that compliance often lags behind legal timelines. The extension was intended not as leniency, but as a pragmatic effort to allow accurate and complete submissions, underscoring that true compliance rises above mere mechanical ticking of a box.
At the federal level, Oyedele’s intervention was even more fundamental. He reminded Nigerians that annual tax returns for the preceding year must be filed in good faith, with integrity and in respect of the law. This applies regardless of income level including low-income earners who have historically believed that they are outside the tax net. “All of us must file our returns, including those earning low income,” he stated.
Herein lies one of the most challenging truths of contemporary Nigerian governance: widespread tax non-compliance is not just a technical breach of law, it is a deep cultural and structural issue that reflects decades of mistrust between citizens and the state.
The Root of the Problem: Non-Compliance as a Symptom.
Nigeria’s tax culture has long been under scrutiny. Public discourse and economic analysis consistently show that a significant majority of eligible taxpayers do not file annual returns. Oyedele highlighted that even in states widely regarded as tax administration leaders, compliance remains strikingly low, often below five percent.
This widespread non-compliance stems from multiple sources:
A long history of weak tax administration systems, where enforcement was inconsistent and penalties were rarely applied.
A perception that public services do not reflect the taxes collected, eroding the citizenry’s belief in reciprocity.
An informal economy where income often goes unrecorded, making filing seem irrelevant or impossible to many.
Lack of awareness, with many Nigerians genuinely believing that tax liability ends with employer deductions.
The government’s renewed push for compliance directly challenges these perceptions. It signals a shift from voluntary or lax compliance to structured accountability, a stance that aligns with best practices in modern public finance.
Why This Matters: Beyond Deadlines.
At its most profound level, the insistence on tax return filings is about nation-building and shared responsibility.
Scholars of public finance universally agree that a robust tax system is the backbone of sustainable development. As the eminent economist Dr. Joseph E. Stiglitz has observed, “A society that cannot mobilize its own resources through fair taxation undermines both its government’s legitimacy and its capacity to provide for its people.” Filing tax returns is not a mere administrative task, it is a declaration of participation in the collective project of national advancement.
In Nigeria’s context, this declaration carries weight. With the enactment of comprehensive tax reforms in recent years (including unified frameworks for tax administration and enforcement) authorities now possess broader statutory tools to ensure compliance and accountability. These measures, which include electronic filing platforms and stronger enforcement powers, have been framed as fair and equitable, targeting efficiency rather than arbitrariness.
Yet the success of these reforms depends heavily on citizens embracing their civic duties with sincerity. And this depends on mutual trust, the belief that paying taxes yields tangible benefits in infrastructure, education, healthcare, security and social services.
Voices From Experts: Fiscal Responsibility as a Public Ethic.
Tax law experts and economists, reflecting on the compliance push, have underscored a universal theme: taxation without transparency is inequity, but taxation with accountability is empowerment. When managed with fairness, a functional tax system can reduce dependency on volatile revenue sources, stabilise national budgets, and support long-term investment in human capital.
Professor Aisha Bello, a respected authority in fiscal policy, notes that “Tax compliance is not a burden; it is the foundation upon which social contracts are built. A citizen who honours tax obligations affirms the legitimacy of governance and demands better performance in return.”
Similarly, a leading tax scholar, Dr. Emeka Okon, argues that “The era when Nigerians could evade broader tax responsibilities simply because automatic deductions occur at source must end. For a modern economy, every eligible citizen must be part of the formal tax fold not as victims, but as stakeholders.”
These authoritative voices point to an unassailable truth: filing tax returns is both a legal requirement and a moral responsibility, an expression of citizenship in its fullest sense.
Challenges on the Ground: Compliance and Capacity.
While the rhetoric of compliance is compelling, the reality on the ground demands nuanced understanding. Many taxpayers (especially in the informal sector) lack meaningful access to digital platforms and resources for filing returns. For others, the fear of bureaucratic complexity and perceived punitive enforcement deters participation.
The government, for its part, has responded by promoting online systems and pledging greater taxpayer support. Tax authorities are increasingly engaging stakeholders to demystify filing processes, explain requirements and offer assistance. This mix of enforcement and facilitation is essential. As one seasoned revenue specialist observed: “The state cannot compel compliance through force alone; it must earn it through education, simplicity and fairness.”
The Broader Implication: A New Social Compact.
Ultimately, Nigeria’s renewed emphasis on tax return filing transcends administrative deadlines. It is an unequivocal declaration that national development is a shared responsibility, that citizens and state must engage in a transparent, accountable, and reciprocal relationship.
Tax compliance, therefore, becomes far more than a legal act; it becomes a moral claim on the nation’s future.
When citizens file their returns honestly, they affirm their stake in the nation’s destiny. When the government collects taxes transparently and deploys them effectively, it strengthens not only public services but civic trust itself.
In this sense, the deadlines proclaimed by Nigeria’s fiscal authorities mark not an end but a beginning; the beginning of a civic epoch in which accountability replaces apathy, participation replaces indifference and national purpose triumphs over fragmentation.
The road ahead will not be easy. But in demanding compliance, Nigeria is demanding more than tax returns. It is demanding commitment and that, ultimately, is the foundation on which nations are built.
Business
BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025
BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025
By femi Oyewale
Business
Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards
Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards
In celebration of the season of love, Adron Homes and Properties has announced the launch of its special Valentine campaign, “Love for Love” Promo, a customer-centric initiative designed to reward Nigerians who choose to express love through smart, lasting real estate investments.
The Love for Love Promo offers clients attractive discounts, flexible payment options, and an array of exclusive gift items, reinforcing Adron Homes’ commitment to making property ownership both rewarding and accessible. The campaign runs throughout the Valentine season and applies to the company’s wide portfolio of estates and housing projects strategically located across Nigeria.
Speaking on the promo, the company’s Managing Director, Mrs Adenike Ajobo, stated that the initiative is aimed at encouraging individuals and families to move beyond conventional Valentine gifts by investing in assets that secure their future. According to the company, love is best demonstrated through stability, legacy, and long-term value—principles that real estate ownership represents.
Under the promo structure, clients who make a payment of ₦100,000 receive cake, chocolates, and a bottle of wine, while those who pay ₦200,000 are rewarded with a Love Hamper. Payments of ₦500,000 attract a Love Hamper plus cake, and clients who pay ₦1,000,000 enjoy a choice of a Samsung phone or a Love Hamper with cake.
The rewards become increasingly premium as commitment grows. Clients who pay ₦5,000,000 receive either an iPad or an all-expenses-paid romantic getaway for a couple at one of Nigeria’s finest hotels, which includes two nights’ accommodation, special treats, and a Love Hamper. A payment of ₦10,000,000 comes with a choice of a Samsung Z Fold 7, three nights at a top-tier resort in Nigeria, or a full solar power installation.
For high-value investors, the Love for Love Promo delivers exceptional lifestyle experiences. Clients who pay ₦30,000,000 on land are rewarded with a three-night couple’s trip to Doha, Qatar, or South Africa, while purchasers of any Adron Homes house valued at ₦50,000,000 receive a double-door refrigerator.
The promo covers Adron Homes’ estates located in Lagos, Shimawa, Sagamu, Atan–Ota, Papalanto, Abeokuta, Ibadan, Osun, Ekiti, Abuja, Nasarawa, and Niger States, offering clients the opportunity to invest in fast-growing, strategically positioned communities nationwide.
Adron Homes reiterated that beyond the incentives, the campaign underscores the company’s strong reputation for secure land titles, affordable pricing, strategic locations, and a proven legacy in real estate development.
As Valentine’s Day approaches, Adron Homes encourages Nigerians at home and in the diaspora to take advantage of the Love for Love Promo to enjoy exceptional value, exclusive rewards, and the opportunity to build a future rooted in love, security, and prosperity.
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