Zacch Adedeji, the Executive Chairman of the Nigerian Revenue Service (NRS), has described technology as a crucial factor in the implementation of the new tax laws.

Adedeji stated this while delivering the maiden convocation lecture of the Federal Polytechnic, Ayede, Oyo state.

In a statement by his Technical Assistant on Print Media, Sikiru Akinola, Adedeji listed some of the most fundamental challenges confronting taxation to include infrastructure, skills, trust and resistance.

In the lecture titled, ‘The Role of Technology in Implementing Nigeria’s New Tax Laws: Challenges, Prospects, and Implications for National Development,’ the NRS chairman said each of the challenges would be addressed with the imminent upgrading of the country’s tax system for a digital environment.

He said: “Nigeria has recently enacted a new set of tax laws, representing the most significant restructuring of our nation’s fiscal legislation in 50 years. While public conversation often frames these changes as legal reforms, and that is true, it is also an incomplete picture.

“These laws are not merely changing rates, definitions, or administrative powers. They are quietly redefining how authority operates within the tax system. This is a complete structural overhaul, signalling the end of tax collection as a manual task and the beginning of tax intelligence.

“If you read the new laws carefully, you will notice a subtle but profound assumption woven throughout their fabric. They presuppose the existence of reliable taxpayer identification, integrated data across institutions, traceable transactions, automated processes, and scalable enforcement.

“In other words, these laws are built for a digital environment. They cannot function properly in a manual, fragmented, paper-based system. The implication is clear: without technology, the laws remain aspirational. With technology, they become operational.

“This transition is central to the mandate of the Nigeria Revenue Service as we implement this new legal framework. Historically, tax administration relied heavily on human discretion over who is registered, who is assessed, who is audited and who is penalised.”

The Speaker of the House of Representatives, Tajudeen Abass, encouraged the graduating students to be good ambassadors of the institution.

Represented by AbdulFatai Buhari, the senator representing Oyo North, Abass charged the youths not to relent in their bid to acquire more knowledge.

He also commended the tax boss for leading the change in tax administration in the country.

United Bank for Africa (UBA) Plc has launched a new Aggregator Sales Structure for its RedPay POS and Agency Banking Network, as part of efforts targeted towards the advancement of its mission to deepen relationship with its network and most importantly, expand financial inclusion across Nigeria.

Oliver Alawuba. Group Managing Director/CEO, UBA

The newly launched multi benefit structure which offers partners a comprehensive value proposition, was unveiled at the inaugural UBA Aggregator Engagement Session, held at the Bank’s Head Office in Lagos on Tuesday.

The session themed, “POS-itive Impact: Connecting Agents, Merchants, and Customers,” served as a collaborative platform to align strategies for scaling the UBAMONI Agency Banking ecosystem and bringing together key industry aggregators, Point-of-Sale (POS) partners, and network managers,

Emmanuel Lamptey, executive director Designate, Digital Banking,  who spoke at the event, emphasised the critical role partnerships play in achieving national financial inclusion objectives.

“Today’s session marks a pivotal step in our collective journey to democratise financial access in Nigeria. By bringing together our valued aggregators and partners, we are strengthening the ecosystem that connects UBA directly to communities and ensuring that reliable financial services is within everyone’s reach,” he stated.

Emphasising the need for partnerships, Shamsideen Fashola, head, Digital Banking, UBA, who presented the keynote address, outlined the strategic imperative behind the new structure.

“Our aggregators are fundamental to realising our ambition of building Africa’s most impactful digital collections network. This structured framework is designed to be scalable, transparent, and mutually rewarding, empowering our partners with the technology and support needed to drive agent productivity as well as serve under-served communities effectively,” Fashola noted.

The platform delivers comprehensive value to agents and aggregators alike, featuring instant settlement, reliable transaction processing, real-time dashboard reporting, and a full suite of services including dispute and terminal management, analytics, card withdrawals, bill payments, and pay-with-transfer.

For aggregators specifically, the model provides a structured opportunity to on board and manage agents within UBA’s network…

access attractive incentives and commissions, as well as leverage a dedicated Aggregator Admin Portal for real-time visibility into agent performance and transactions

Adetunji Iyiola, head, Agency Banking, UBA, who noted the customer-centric focus of the initiative, emphasized that the structure fundamentally strengthens the collaboration between UBA, merchants, and agent

“This rollout is about creating superior value for every stakeholder, and enabling better service delivery to customers while ensuring our partners have the tools and incentives to thrive. It reinforces our promise to deliver essential banking services exactly where they are needed most”. he said.

With the introduction of the aggregator framework, UBA further cements its leadership in pioneering innovative digital financial solutions that bridge the inclusion gap and drive economic empowerment across the African continent.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally.

Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

The Nigeria Deposit Insurance Corporation (NDIC) has intensified debt recovery efforts involving failed banks and mobile money operators in a move aimed at accelerating payments to depositors. The Corporation is engaging its debt recovery agents to familiarise them with the enhanced tools and enforcement mechanisms contained in the NDIC Act 2023.

In recognition of the critical role of debt recovery, the NDIC Act 2023 significantly strengthened and expanded the powers of the Corporation. The objective, according to Thompson Oludare, managing director/chief executive, NDIC, is to enable quicker and more effective recoveries, thereby accelerating the reimbursement of depositors.

Represented by Olufemi Oladepo Kushimo, director of the Legal Department at NDIC, he welcomed participants to the sensitisation seminar for NDIC Debt Recovery Agents in Lagos, saying prompt reimbursement of depositors reinforces public confidence in the banking system and encourages continued savings within formal financial institutions.

“Your role is central to this objective. The success of liquidation dividend payments and depositor protection depends heavily on the efficiency and effectiveness of your recovery efforts. The enhanced provisions of the NDIC Act are designed to support you in this task, and this seminar aims to familiarise you with these expanded powers,” he said.

He explained that the Act now provides strengthened tools for recovering debts, including measures to address recalcitrant debtors and, where necessary, issues involving criminal infractions. Participants at the seminar are being guided on how to identify such infractions and how they may be referred to the appropriate agencies for prosecution, as well as the practical steps required for efficient debt recovery to support the payment of liquidation dividends.

“We currently have a number of banks in liquidation, including some that have been in that status for some time. In several instances, challenges such as protracted litigation, repeated adjournments and an entrenched culture of loan default have hindered effective recovery. These realities informed the strengthening of the Act and highlight the need for all stakeholders to be fully aligned and equipped to utilise these powers properly and responsibly in pursuit of the Corporation’s mandate,” Oludare said.

He added that the NDIC Act 2023 provides a comprehensive bouquet of tools for debt recovery, which the Corporation is prepared to deploy fully. “We intend to utilise every section, provision and enforcement mechanism available under the law. This includes pursuing parties at fault, not only to enhance recoveries, but also to serve as a deterrent and to sanitise the banking industry.

“Those responsible for bank failures must be held accountable. We are prepared to apply every relevant provision of the Act to ensure effective recovery and to bring culpable parties to justice,” he said.

Patricia Okosun, director of the Asset Management Department, said the revised Act has strengthened the overall framework for debt recovery and enhanced the mechanisms through which outstanding obligations are pursued.

“We are engaging debt recovery agents to familiarise them with the additional tools now available under the revised Act, beyond what they previously relied on. The essence of this engagement is to sensitise them to the new provisions that will support and improve their work. We are confident that these enhanced powers will enable us to recover more debts, and more efficiently, so that we can reimburse depositors,” she said.

She added that the Corporation remains optimistic about recovery prospects. “That optimism is precisely why we are equipping recovery agents with strengthened legal tools. Our objective is to recover as much as possible.

“Naturally, the earlier the recovery, the better, as it enables quicker reimbursement of depositors. However, given the realities of litigation and related processes, it is not possible to fix a definite timeline. What remains clear is that speed and efficiency are priorities,” Okosun said.