FG Considers Mandatory NIN Registration For Foreigners To Enhance Tax System

FG Considers Mandatory NIN Registration For Foreigners To Enhance Tax System

An executive bill seeking to amend the National Identity Management Commission (NIMC) Act is to be forwarded by President Bola Tinubu to the National Assembly.

The bill seeks to provide that everybody living in Nigeria, including foreigners must be registered and given the National Identity Number (NIN) so that they can be taxed.

This is part of the economic stabilization bills approved during the Federal Executive Council meeting held on Monday.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this while briefing State House correspondents at the Presidential Villa Abuja on Wednesday alongside the Senior Special Assistant to the President on Digital Strategy, Engagement and Communications, O’tega Ogra.

Onanuga said the economic stabilization bills which are about twenty in number also include bills to amend the Acts establishing the Nigerian Port Authority and the Nigerian Maritime Administration and Safety Agency (NIMASA).

According to him, the two bills seek to ensure transactions by the two agencies are paid for in Naira.

He said the decision is part of measures by Tinubu’s administration to promote the national currency and reduce the dollarization of Nigeria’s economy.

Also included in the economic stabilization bills is a tertiary education amendment bill 2024, including an amendment to the Tertiary Education Trust Fund (TETFUND) Act.

The new bill according to Onanuga, when passed into law, will ensure that 30 per cent of TETFUND’s income goes into the Nigerian Education Loan Fund while only 5 per cent of used for TETFUND’s operations.