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CSOs Asks FG Not Hike VAT, Says It Will Increase Poverty

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Civil Society Organizations (CSOs) have warned federal government not to go ahead with the proposed increase in the Value Added Tax (VAT), saying that such action would exacerbate poverty and increase inequality in the land.

 

The CSOs under the aegis of Tax Justice and Governance Platform, (TJGP), said it had followed the trend around the Federal Government’s effort to improve revenue mobilization to fund development in Nigeria with diverse views from different interest parties on which measures will be more strategic and sustainable.

 

Recall that the minister of finance had said it would increase in the VAT rate at the last Federal executive council held on September 11, 2019 after several denials of the possibility of an increase in VAT in Nigeria.

 

The group is a joint statement signed by Christian Aid, Action Aid Nigeria, Centre for Democracy and Development Civil Society Legislative Advocacy Centre, OXFAM Nigeria, Imo state Tax Justice and Governance Platform called on the federal government to pay serious attention to widening the tax net rather than increasing the rate which will only place more burden on the few that complies already and still exempt the majority that do not pay taxes.

 

It also called on the Federal government to improve market information and transparency by implementing the National Tax Policy, promoting the commitment to progressive taxation and taking measures to improve financial transparency while cooperating with regional and international bodies to address the issues of illicit financial flows.

 

‘‘We welcome the VAIDS is an opportunity to increase the tax net, though it has not yielded the optimum result expected. We want to state our position for advocacy and campaign which is that Government designs and implements policies and programmes that enhance the welfare of the poor and protects disadvantaged groups that constitute much of the Nigerian population and address issues of inequality.

 

‘‘We have followed with keen interest, the trend around the Federal Government’s effort to improve revenue mobilization to fund development in Nigeria. There have been diverse’ views from different interest parties on which measures will be more strategic and sustainable.

 

‘‘We welcome the VAIDS is an opportunity to increase the tax net, though it has not yielded the optimum result expected. There are still myriads of companies and other taxable entities in Nigeria who are not in the tax net and still not convicted or punished in any way.

 

‘‘The Platform hopes that the proposed measures can be effectively implemented to solve the revenue deficit in the country rather than an increase in VAT rate which will only exacerbate poverty and hunger on the “ultimate burden-bearer” ‐ the poor and vulnerable.

 

‘‘We call on the federal government to concentrate more efforts at ensuring proper collection of appropriate tax from multinationals and large corporations which have continued to benefit from undeserved tax incentives and had for years engaged in tax avoidance practices.

 

‘‘We call on government and relevant institutions to develop strategies to curb the tax avoidance practices of big businesses in the country and pay attention to challenges of illicit financial flow that had continued to undermine the economy,’’ the group added.

 

They further called on all Nigerians, especially civil society, the media, labour and citizens working in the development sector and public finance management to continue to raise their voices against measures and policies that will further impoverish Nigerians and introduce new dimensions of inequality.

 


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Cybervergent Expands to Three New Markets

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Cybervergent has launched version 3.0 of its artificial intelligence (AI)-native posture management platform and expanded operations into Kenya, Ghana, and SA.

The move, according to the company, introduces automated risk verification for enterprises and aims to position Africa as a force in digital governance technology.

It goes on to say the latest platform upgrade introduces continuous posture management, replacing traditional point-in-time governance, risk, and compliance reporting with real-time verification systems.

An AI engine independently verifies 99.9% of audit and monitoring findings before they appear on enterprise dashboards, according to Cybervergent.

It says risk management, compliance, audit, and data security operations are integrated into a unified system built for cloud and on-premise environments.

According to  Cybervergent, the platform maps more than 4 500 controls across frameworks, including the Nigeria Data Protection Act (NDPA), International Organisation for Standardisation (ISO) 27001, and System and Organisation Controls (SOC) 2.

Cybervergent says the rollout of its first South African customer validates the platform’s readiness for highly regulated enterprise markets and strengthens its expansion strategy across Africa’s leading technology and financial hubs.

The company is also adopting a channel-first deployment model, working with local partners and system integrators in Lagos, Accra and Johannesburg to scale verified security infrastructure for enterprises navigating increasingly complex regulatory demands.

“We built verification into the architecture,” said Ayomide Daniels, co-founder and chief scientist at Cybervergent. “If a finding is not traceable back to source documentation, it does not reach the dashboard.”

Cybervergent rebranded from Infoprivacy in late 2023 to reflect its shift towards AI-automated cybersecurity.

The start-up previously focused on data privacy compliance in the West African market before pivoting to its current integrated posture management model.


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FG Bans Honorary Degree Holders from Using ‘Dr’ Title, Warns of Academic Fraud

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Federal Government has directed recipients of honorary doctorate degrees to stop using the title “Dr.” before their names, as part of efforts to protect the integrity of academic qualifications and curb the misuse of honorary awards.

FG Bans Honorary Degree Holders from Using ‘Dr’ Title, Warns of Academic Fraud

Minister of Education, Tunji Alausa

Minister of Education, Tunji Alausa, announced the directive after the approval of the new policy by the Federal Executive Council (FEC).

Alausa said the measure was necessary to address the growing abuse, commercialisation and politicisation of honorary degrees in some tertiary institutions across the country.

He explained that honorary doctorates are symbolic recognitions of outstanding contributions to society and do not equate to earned academic qualifications obtained through rigorous study, research and examination.

“Recipients of honorary doctorate degrees are not entitled to use the title ‘Dr.’ as a prefix to their names in official, professional or academic engagements,” he said.

According to the minister, awardees may instead indicate the honorary distinction after their names using formats such as D.Litt (Honoris Causa), LL.D (Honoris Causa) or other approved honorary designations.

Under the revised policy, only universities with active doctoral programmes will be permitted to confer honorary doctorate awards.

The government also restricted recognised honorary awards to four categories: Doctor of Laws (LL.D), Doctor of Letters (D.Litt), Doctor of Science (D.Sc), and Doctor of Humanities (D.Arts).

In addition, all honorary degree certificates must clearly carry inscriptions such as “Honorary” or “Honoris Causa” to distinguish them from earned academic degrees.

The minister warned universities against indiscriminate conferment of honorary degrees, noting that institutions found violating the directive would face sanctions from the National Universities Commission and the Federal Ministry of Education.

He said the policy was part of broader reforms aimed at restoring credibility to Nigeria’s higher education system and ensuring academic titles are not misrepresented for personal, political or financial gains.

Observers say the development could reshape the long-standing culture where public office holders, business executives and celebrities often adopt the “Dr.” title after receiving honorary awards.


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Africa Fintech Revenues to Hit $65 billion by 2030 – Report

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African fintech revenues are projected to expand 13-fold to approximately $65 billion by 2030, marking the continent as the world’s fastest-growing digital finance market.

The “Beyond Payments: Unlocking Africa’s Second FinTech Wave ” report, released by Boston Consulting Group at the Inclusive FinTech Forum in Kigali, indicates the sector is shifting from transactional inclusion to scalable, infrastructure-driven systems.

While Sub-Saharan Africa accounts for 74% of global mobile money volume, more than 50% of lending still occurs through informal channels, representing a massive gap for B2B payments and data-driven underwriting.

The opportunity now is to convert scale into sustained, institutional-grade growth, says the report. Markets offering regulatory clarity and interoperable infrastructure are becoming increasingly attractive to long-term capital.

Rwanda is highlighted as an example of deliberate institutional coordination that lowers the cost to scale for financial institutions.

Forward-looking regulation and the License Passporting Memorandum of Understanding between Rwanda and Kenya are cited as practical steps toward easing regional expansion.

Financial centres like the Kigali International Financial Centre play a critical role in this next phase by reducing uncertainty for banks and investors.

By combining regulatory clarity and Pan-African integration, they reduce uncertainty for banks, fintechs, and investors, and help position markets as credible, long-term investment destinations.

Africa’s next fintech phase will be led by financial institutions, the report notes. It goes on to say banks and regulated entities are becoming the primary customers of digital financial infrastructure, demanding platforms that align with their risk frameworks.

The report identifies five institutional priorities to sustain momentum: interoperable infrastructure, data-driven credit, regulatory coherence, trust, and resilience.

Building seamless wallet-to-bank integration will enable more efficient value movement, while transforming transaction data into AI-enabled underwriting models will help bridge the gap in SME lending.

Proportional licensing frameworks and predictable supervisory practices will lower the cost to scale for innovators. Furthermore, expanding cybersecurity capabilities will ensure the ecosystem remains reliable as digital usage grows.

Africa has demonstrated that fintech scale is achievable, and the next decade will be shaped by those markets that strengthen their institutional foundations, the report concludes.

 


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