MicRich Resources Limited

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19/12/2025

Nigerian Tax Reforms.

Lesson 4: Tax Administration - Key Highlights 3: Tax Payer's Rights.

Below are key rights of the tax payer stated in the new Nigerian tax laws:

1. Right to be informed, assisted and heard by the tax authorities.

2. Right to a taxpayer identity - Tax Identification Number (TIN).

3. Right to confidentiality/privacy data protection.

4. Right to quality service by the tax authorities.

5. Right to representation by tax adviser or consultant.

6. Right to pay only the correct tax.

7. Right to be notified of tax audit or investigation.

8. Right to tax refund or offset when excess or erroneous payment is made.

9. Right to appeal/dispute resolution or seek redress.

Now that you know, don't let them violate your right.

Drop your comment and follow the page for more tutorials.

YourPocketTaxLib.

16/12/2025

Nigerian Tax Reforms.

Lesson 3: Tax Administration. Key Highlights- Part 2: Individual Tax Payer's Obligations.

We provide a summary of the Individual Tax Payers' Obligations under the new Nigerian tax administration below for your familiarisation.

1. Register and obtain a tax identification number (TIN) from the relevant tax authority.

2. If you are an employee ensure that your employer is deducting pay-as-you earn (PAYE) correctly and remitting to the required tax office. Request for your tax clearance certificate.

3. If you have other income (rent, business, site hustle), keep proper records (receipts, invoices, bank statements) and file your global income return at the relevant tax office.

4. If your taxable income after reliefs is #800,000 or less, you are exempt from personal income tax (PIT), but you still need to file returns.

5. Respond to any notice from the tax authority within the stipulated deadline.

6. Pay attention to deadlines, examples some states have 31 March for Individual returns and employer's by 31 January for employee's returns. While, monthly remittance for PAYE is by the 10th day of the following month.

7. Ensure complete and accurate returns filings to avoid higher penalties.

8. Prepare for the full implementation of the Reforms on 1st January 2026 and subsequent tax regulations and guidance circulars from tax authorities.

9. Keep learning. ......

Drop your comment on the comment section.

Watch out for Lesson 4.
YourPocketTaxLib.

03/12/2025

Nigerian New Tax Reforms.

Lesson 2: Tax Administration- Key Highlights. Part 1.

Effective 1st January 2026, the new tax administration will commence in Nigeria. This will witness the implementation of the various changes introduced in the new tax laws. Some of those changes are discussed in this lesson.

1. Digital Systems. Linking tax identification number (TIN) with national identity number (NIN) and bank verification number (BVN); mandatory e-invoicing; electronic fiscal Systems (EFS) for value Added Tax (VAT); digital filing and record-keeping for tax payers.

2. Stronger administrative penalties and clearer enforcement timelines. Examples, failure to file returns or inaccurate returns carry defined penalties. Details discussion on this in subsequent bulletin.

3. Tax compliance certificates required for permits and regulatory approvals. In some cases, tax compliance is tied to business licenses.

4. Broader tax base and modern taxable income definitions. The tax net expanded to cover, digital/virtual assets, virtual currencies, prizes, awards, foreign source income for residents, indirect share transfers, gains from offshore companies, etc

5. Refined Residency Rule. It is structured and linked explicitly to type of income/employment and place of residence or employment. Individual will be taxed on worldwide income.

6. Capital gains tax (CGT) rate for companies aligned with corporate income tax rate. Indirect transfers now taxable.

7. Consolidation of multiple levies and new levy. Development levy of 4% of assessable profit replacing levies such as Education tax, IT levy, etc.

Drop your thought at the comment section.

Watch out for Lesson 3.

PocketTaxLib.

01/12/2025

Nigerian Tax Reforms 2025.

Lesson 1: Understanding the Tax Legal Framework.

The new Nigeran Tax reform establishes the following legal framework to address the numerous concerns associated with the previous tax regime and makes tax administration more effective and efficient.

1. Nigeria Tax Act (NTA) 2025.

This Act replaces older laws such as Companies Income Tax Act, Personal Income Tax Act, Value Added Tax Act, Petroleum Profits Tax Act, Capital Gains Tax Act, and Stamp Duties Act. It consolidates them into a single comprehensive tax law.

2. Nigeria Tax Administration Act (NTAA) 2025.

It standardises tax administration processes which include, registration, filing, assessment and enforcement with strong emphasis on digital tax compliance system.

3. Nigeria Revenue Service ( Establishment) Act (NRSA) 2025.

The Act establishes a central tax authority known as Nigeria Revenue Service (NRS). It replaces the former federal tax collector, Federal Inland Revenue Service (FIRS), with a unified and broad mandate to collect federal taxes.

4. Joint Revenue Board (Establishment) Act (JRBA) 2025.

It establishes the Joint Revenue Board (JRB) which replaces the former Joint Tax Board (JTB). This Act provides for coordination among the various tiers of government, federal, state, and local on tax policy, collection and administration. It sets up dispute resolution mechanism such as tax appeal tribunal and ombudsman.

In conclusion, the new tax legal framework is focused on harmonising and consolidating tax policies and widening the tax net to achieve a fair and equitable assessment and collection by leveraging on the available digital assets.

Watch out for Lesson 2 on Tax Administration.

Welcome to your PocketTaxLib.

16/11/2016

Vacancy exists in a newly licensed Microfinance Bank in Port Harcourt, Rivers State for the following positions:
1. INTERNAL AUDITOR
RESPONSIBILITIES
• Reporting to the Board of Directors through the Managing Director on day to day activities.
• Responsible for independently carrying out internal audits at the bank
• Prepare Audit programmes/Checklists and conducting internal audit assignments as per internal audit plans and audit report writing.
• Coordinate and follow up on audit report findings.
• Develop and maintain a sound system of internal control within the bank.
• Review periodically the effectiveness of the internal control system and made necessary adjustments when the need arises.
• Provide necessary report to the Managing Director on the business operations.
QUALIFICATIONS AND REQUIREMENTS
 HND/University degree in accounting.
 Applicant must possess 3-5 years experience in audit functions preferably in the banking industry.
 Excellent interpersonal and communication skills.
 Good organization and administrative skills.
 Strong personality and leadership skills.
 Experience in Microsoft office.
 Possession of ACA or other relevant professional qualification will be an added advantage.

2. HEAD OF OPERATIONS
RESPONSIBILITIES:
• Report to the Managing Director on day to day activities.
• Establish and ensure that the standard and procedure of business operations are observed.
• Overall supervision of bank operations/operations staff
• Administration and protection of assets of the bank
• Measure compliance with service standards
• Timely rendition of returns to regulatory authorities
• Ensure accuracy and balancing of all ledger accounts and journals.
• Ensure business operations run smoothly and efficiently on a daily basis.
• Develop and maintain a sound system of internal control within the organization.
• Cost management through effective utilization of personnel, materials and equipment.
• Manage and motivate the operations team and be responsible for driving performance.
• Provide good, effective leadership and guidance among team members and all staff.
QUALIFICATIONS AND REQUIREMENTS
 HND/University degree
 Proven ability to establish, prioritize and accomplish goals.
 Attention to details.
 3-5 years banking experience preferably in operations.
 Excellent interpersonal and communication skills.
 Good organization and administrative skills.
 Strong personality and leadership skills.
Interested candidate should send their curriculum vitae with a covering letter within two weeks from the date of this advert.
3. ADMIN/HR MANAGER
RESPONSIBILITIES
• Review and update all human resources policies to meet the bank’s needs.
• Develop job descriptions for current/new positions
• Maintain current organizational chart and staff contact list
• Assist the progress of job planning and performance management.
• Conduct instruction for staff members about admin and HR policies
• Update filing system and manage filing of office documents for both hard and electronics copies.
• Establish and maintain relations with government, labour union and other related personnel stakeholders
QUALIFICATIONS/REQUIREMENTS
• A degree in Administration, Human Resource Management or other relevant disciplines.
• Fluency in English both oral and written
• Very good computer skills, MS office
• Minimum of 5 years experience in HR/Admin.

4. HEAD OF CREDIT/MARKETING
RESPONSIBILITIES
• Winning of new accounts
• Loan disbursement and monitoring
• Deposit mobilization
• Collection of loan repayment
• Evaluating the effectiveness of all marketing activity
• Grow the bank’s clients base through direct sales activities to potential customers
• Processing of loan applications
• Supervise and monitor the activities of other marketing staff
• Rendition of returns to regulatory authorities
QUALIFICATION/REQUIREMENTS
• HND/BSC in related field
• Minimum of 5 years experience in a micro finance bank
• Strong analytical and interpersonal skills
• Good written and oral communication skills
• Computer literacy.

5. CUSTOMER SERVICE OFFICER
RESPONSIBILITIES
• Reporting to the Head of Operations
• Opening and closing of accounts
• Customer service management
• Any other function as directed by the Head of Operations
QUALIFICATION/REQUIREMENTS
• HND/BSC in related field
• Minimum of 2 years experience in related function
• Good written and interpersonal skills
• Computer literacy
• Good customer service relation

6. TELLERS
RESPONSIBILITIES
• Reporting to the Head of Operations
• Receipt and payment of cash to customers
• Daily balancing of cash
• Call over of daily cash transactions
• Any other function as directed by the Head of Operations
QUALIFICATION /REQUIREMENTS
• Ordinary National Diploma
• Minimum of 2 years experience
• Good interpersonal skills
• Computer literacy

To apply, please forward your CV to [email protected] within one week from the date of this advert.

15/03/2016

Vacancy exists in a foremost Microfinance Bank in Uyo, Akwa Ibom State for the post of Internal Auditor.
1. INTERNAL AUDITOR
RESPONSIBILITIES
• Reporting to the Board of Directors through the Managing Director on day to day activities.
• Responsible for independently carrying out internal audits at the bank
• Prepare Audit programmes/Checklists and conducting internal audit assignments as per internal audit plans and audit report writing.
• Coordinate and follow up on audit report findings.
• Develop and maintain a sound system of internal control within the bank.
• Review periodically the effectiveness of the internal control system and made necessary adjustments when the need arises.
• Provide necessary report to the Managing Director on the business operations.
QUALIFICATIONS AND REQUIREMENTS
HND/University degree in accounting.
Applicant must possess 3-5 years experience in audit functions preferably in the banking industry.
Excellent interpersonal and communication skills.
Good organization and administrative skills.
Strong personality and leadership skills.
Experience in Microsoft office.
Possession of ACA or other relevant professional qualification will be an added advantage.

To apply, please forward your CV to [email protected]

15/03/2016

Vacancy exists in a foremost Microfinance Bank in Port Harcourt for the following positions:
1. ADMIN/HR MANAGER
RESPONSIBILITIES
• Review and update all human resources policies to meet the bank needs.
• Develop job descriptions for current/new positions
• Maintain current organizational chart and staff contact list
• Assist the progress of job planning and performance management.
• Develop relevant training programmes for staff members.
• Establish and maintain relations with government, labour union and other related personnel stakeholders
• Develop strategic manpower development plan for the bank among others.
QUALIFICATIONS/REQUIREMENTS
• A degree in Administration, Human Resource Management or other relevant disciplines.
• Fluency in English both oral and written
• Very good computer skills, MS office
• Minimum of 3 years experience in HR/Admin.
• Experience in financial institution HR department will be an added advantage.

1. Risk Officer
RESPONSIBILITIES
• Protect the financial assets of the bank
• Identify potential risk exposures that may result to loss.
• Recommend and implement preventive measures to minimize costs and damage should loss occur.
• Manage the process for developing risk policies and procedures, risk limits and approval authorities.
• Monitor major and critical risk issues.
• Manage the process for elevating control risks to more senior levels when appropriate.
• Conduct compliance & risk assessments.
• Working with head of credit to evaluate and calculate the risk associated with specific transactions;
• Forecasting and monitoring market trends;
• Reviewing legal documents;
• Studying government legislation, which may affect the bank, and advising on compliance;
• Developing contingency plans to deal with emergencies arising from uncontrollable factors.
QUALIFICATIONS/REQUIREMENTS
• A degree in Accounting or other relevant disciplines.
• Good analytical skill
• Fluency in English both oral and written
• Very good computer skills, MS office
• Minimum of 3 years experience in similar job.
To apply, please forward your CV to [email protected]

15/03/2016

Vacancy exists in a foremost Microfinance Bank in Uyo, Akwa Ibom State for the post of Internal Auditor.
1. INTERNAL AUDITOR
RESPONSIBILITIES
• Reporting to the Board of Directors through the Managing Director on day to day activities.
• Responsible for independently carrying out internal audits at the bank
• Prepare Audit programmes/Checklists and conducting internal audit assignments as per internal audit plans and audit report writing.
• Coordinate and follow up on audit report findings.
• Develop and maintain a sound system of internal control within the bank.
• Review periodically the effectiveness of the internal control system and made necessary adjustments when the need arises.
• Provide necessary report to the Managing Director on the business operations.
QUALIFICATIONS AND REQUIREMENTS
HND/University degree in accounting.
Applicant must possess 3-5 years experience in audit functions preferably in the banking industry.
Excellent interpersonal and communication skills.
Good organization and administrative skills.
Strong personality and leadership skills.
Experience in Microsoft office.
Possession of ACA or other relevant professional qualification will be an added advantage.

12/09/2014

Vacancy exists in a Microfinance Bank in Bori, Rivers State for the post of an
Internal Auditor.

Vacancy exists in an ICT company in Port Harcourt for the post of a
General Manager- Admin/Operations.

for more details please visit http://micrichresources.com

Address

22 Bende Street Rumuomasi
Port Harcourt
234

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