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Wema Bank’s Digital Bank, ALAT, Emerges Nigeria’s Best Digital Bank at Euromoney Awards 2025

Wema Bank’s Digital Bank, ALAT, Emerges Nigeria’s Best Digital Bank at Euromoney Awards 202

In recognition of its position as a digital pioneer in the African banking landscape, Africa’s first fully digital bank, ALAT, a trailblazing digital platform pioneered by Nigeria’s oldest indigenous and most innovative bank, Wema Bank, has been awarded Nigeria’s Best Digital Bank at the Euromoney Awards 2025.

Euromoney is a leading provider of competitive intelligence and benchmarking insight for the global banking and finance industry, trusted for over 50 years to deliver data-led analysis that informs strategy, validates performance, and supports decision-making at the executive level. The Euromoney Awards, pioneered by Euromoney, are regarded as the ultimate accolade in banking; the industry-leading stamp of approval that banks across the globe work yearlong to achieve. Recognised as Nigeria’s leading financial institution in digital innovation, Wema Bank’s revolutionary digital bank, ALAT, was awarded Nigeria’s Best Digital Bank at the Euromoney Awards 2025 held at The Peninsula London Hotel in London on Thursday, 17th July, 2025.

Since its launch on May 2nd 2017, ALAT has bridged the gaps in delivery of financial services to Nigerians within Nigeria and globally, evolving remarkably into a holistic hub of lifestyle and financial solutions for Nigerian adults of all ages and from all walks of life. From simply being the first fully digital bank in Africa, ALAT has evolved remarkably into a digital platform with an ecosystem of dynamic financial solutions tailored to provide seamless, reliable, and convenient service for all. With ALAT, basic financial services like transfers, airtime & data purchases, bill payments and loans are placed at the fingertips of users, in addition to a wide range of advanced financial services and solutions that merge banking with lifestyle.

From in-app local and international flight bookings to tailored personal and group savings options, investments and stocks, movie and event tickets, deals and discounts on a limitless pool of products and services, 24/7 health consultation, and a suite of customised loan options for salary earners and non-salary earners; ALAT changed the game, redefining banking and financial services in a world where digital has become the future. In view of ALAT’s groundbreaking role in blazing the trail for FinTechs in Africa and its intentionally-curated wealth of features and offerings designed to meet the needs of Nigerians in Nigeria and the diaspora, it is evident that the Bank is undeniably deserving of the recognition and accolade.

Underscoring Wema Bank’s commitment in shaping the future of banking through impactful innovations like ALAT, Wema Bank’s MD/CEO, Moruf Oseni, expressed appreciation to the Euromoney Awards for recognising the Bank’s impact on the proliferation of digital innovation in Africa, reiterating the Bank’s commitment to its sustainability vision of developing digital solutions for societal impact. Receiving the award, Oseni commented, “The world is moving fast and so is the permeation of ‘digital’ into the most critical aspects of our lives. 80 years ago when Wema Bank was established, typewriters were the extent of banking technology. Today, we have pioneered a fully digital bank, and possess technology advanced enough to power over 150 FinTechs. In ten years, one can only imagine what this fast-paced digital economy will bring. One thing is clear, any business, venture or institution that will remain relevant by the end of the next decade, must leverage digital technology today. This is why Wema Bank is so driven when it comes to digital. Innovation and empowerment”.

“As a Bank, our stance is clear. Wema Bank will never relent in empowering lives through innovation and developing digital solutions for societal impact. We will continue to pioneer innovation, empower innovators and bridge the gap between traditional and digital, leveraging the opportunities of the digital world to generate meaningful impact on lives and businesses in Nigeria, Africa and across the world. We have remained resilient in this commitment since 1945 and this award tells us that the world is feeling our impact. We are honoured by this recognition, and I take this opportunity to extend our sincerest gratitude to the Euromoney Awards. We take this as a challenge to keep up the good work, go harder, and continue going above and beyond in shaping the future of banking through digital innovation. Here’s to 80 years of impact and a future of limitless possibilities with Wema Bank”. Oseni concluded.

Wema Bank continues to raise the bar in financial services, placing Nigeria on the global map for banking and digital innovation. Since 1945, the Bank has spearheaded a positive transformation in Africa’s banking and financial landscape, proving that Nigerian-owned businesses have the capacity to last and stand the test of time. As the Bank celebrated its 80th anniversary on May 2nd 2025, its futuristic digital platform, ALAT simultaneously clocked 8, marking 8 years of digital transformation.

The world continues to watch in anticipation as Wema Bank leads the movement in digital innovation, shaping the future of banking in Africa.

ABOUT WEMA BANK

Established on May 2nd, 1945, Wema Bank is Nigeria’s oldest indigenous bank, most innovative, and pioneer of Africa’s first fully digital bank, ALAT. Commemorating a remarkable 80 years of impact and a future of possibilities, Wema Bank celebrated its 80th anniversary on May 2nd 2025 alongside the 8th anniversary of ALAT by Wema.

The publicly quoted Nigerian company has successfully built a legacy of trust, resilience and banking excellence that has won it the loyalty of its customers for 8 decades and counting. The Bank has remained innovative in delivering value to its stakeholders, constantly introducing products and services tailored to the needs of its customers at every stage of their lives.

Wema Bank is a proud partner to more than one million individuals, families, and businesses across Nigeria, helping them achieve their personal and financial goals.

Since its establishment in 1945, Wema Bank has built a legacy of pioneering innovation and empowering innovation to thrive, connecting traditional with digital and introducing several digital gamechangers and industry-firsts that have redefined standards across various industries and verticals.

From launching Africa’s first fully digital bank, ALAT, in 2017, Wema Bank went on to launch the ALAT For Business App, a business-focused version of ALAT; CoopHub App, a-first-of-its-kind digital solution designed to empower cooperatives for optimal productivity; Wema Phygital, a self-service implementation adding a digital touch to the physical experience in Wema Bank’s branches; ALATPay, an end-to-end payment gateway that provides instant settlement for business transactions; and the ALAT Xplore App, Nigeria’s first fully licensed banking app for teenagers, among others.

A’Ibom gov approves N20,000 allowance for NYSC members 8th July 2025

The students of Omololu Olunloyo Polytechnic are currently protesting at the main gate of the institution, located on Sango/Eleyele Road in Ibadan, Oyo State.

PUNCH Online had reported that the State Governor, Seyi Makinde, had renamed The Polytechnic, Ibadan, in honour of the late former governor of the state, Omololu Olunloyo, who died at the age of 89.

Despite the earlier warning by the institution’s management that the students should shelve their planned protest, a large number of students came out to express their grievances, calling on the governor to rescind his earlier decision.

Academic and other activities in the institution are now put on hold, while the Sango en route Eleyele axis is temporarily blocked.

Details later…

Ortom demands transparency in Benue LG allocations

The immediate past governor of Benue State, Samuel Ortom, has called on his successor, Governor Hyacinth Alia, to account for the state and local government funds.

The former governor was reacting to the statement attributed to a faction of the All Progressives Congress, which he suspects is affiliated with the governor, an excerpt of which Kula Tersoo, media aide to Governor Alia, posted online recently.

This statement read that the governor “has increased local government security votes from the one million naira paid by his predecessor to ten million naira monthly…”

However, Ortom in a statement issued by his media aide, Terver Akase, and made available to journalists in Makurdi on Tuesday, took a swipe at his successor, requesting that he declares how much his administration is receiving as monthly local government allocations from the federation’s account before announcing how much he is giving the councils as security votes.

Ortom equally demanded that Governor Alia should go a step further and explain why he is still the one providing the third tier of government funds, despite the Supreme Court judgment granting full financial autonomy to local governments.

“The fact that none of the 23 local governments under him has constructed even a single culvert shows how they have been starved of their own funds,” the former governor said.

The former governor decried the situation that his successor, who is in his third year in office had never responded to calls for transparency and accountability regarding the huge resources accruing to the state following the removal of fuel subsidy.

“He has suddenly decided to celebrate a claim that he has increased security votes for local governments in the state.

“The starting point should be for Governor Alia to declare how much he is receiving as monthly local government allocations from the federation’s account before announcing how much he is giving the councils as security votes.

“The question to ask Governor Alia is, given reports that the Federal Government is now sending 500% increased allocations to the local governments in Benue State, which automatically makes a council such as Gboko receive a monthly allocation of N624,447,191.53.

“Why is Gboko only receiving a mere N10 million out of over N624 million as security vote? Where is the rest of the money going?

“When the Benue State governor is done accounting for how much the 23 local governments are receiving from the federation’s account in the subsidy removal era.

“He should extend the accountability to the state coffers and tell the people how much his government is receiving and what is being done with the funds.

“This explanation should include the over N3 billion he is reported to be taking every month as security vote in the face of frequent attacks and killing of hundreds of Benue people by Fulani terrorists.

While Alia denied that under his watch, only N1 million was being released to local governments in the state as security vote, Ortom claimed that he granted autonomy to the local governments.

He said that was the reason all of the councils were actively executing projects and tackling insecurity in their respective domains.

Alia, through his Chief Press Secretary, Kula Tersoo, on Sunday, responding to a similar request made by a group known as Benue Advocacy Network, directed those interested in knowing the financial obligations to the state to approach the Budget Office in the state.

Rivers debunks Julius Berger’s withdrawal claims

The Rivers State Government has debunked reports that Julius Berger Nigeria Plc has withdrawn from its project sites in the state, describing the claims as false and misleading.

The denial follows a viral publication that alleged that the construction firm had begun pulling out of Rivers State due to unpaid contract fees by the state government.

In a statement signed by the Senior Special Adviser – Media, Rivers State Government, Hector Igbikiowubo, and made available to newsmen on Friday, the state government dismissed the publication as “malicious” and “a deliberate misrepresentation of facts.”

The statement read, “The Rivers State Government, under the leadership of His Excellency, Vice Admiral (Rtd), Ibok-Ete Ekwe Ibas, strongly condemns the misleading and malicious publication titled ‘Julius Berger withdraws from Rivers’ project sites.

“The report, which falsely claims that Julius Berger Nigeria PLC has begun withdrawing its services from project sites in Rivers State due to alleged shortfalls in payments by the government, is a deliberate misrepresentation of facts and a calculated attempt to tarnish the reputation of the administration”.

Continuing it said, “Nothing could be farther from the truth. The Rivers State Government has consistently and dutifully met all its contractual obligations to contractors, including Julius Berger Nigeria PLC, which has received all payments due since the declaration of Emergency Rule in the state.”

Addressing the variation request, the statement revealed that Julius Berger had demanded an additional ₦171.76 bn an 87.77 per cent increase on top of the original ₦195.7 bn contract sum for the Ring Road project and if granted, would push the total cost to ₦367.45 bn

“The real motive behind misinformation, this baseless report is nothing more than a campaign of calumny orchestrated after failed attempts to pressure the Rivers State Government into approving an exorbitant and unjustified variation request for the ongoing Ring Road project.

“The facts are as follows: the original contract sum for the Ring Road project was N195,695,980,239.61 bn

“Julius Berger submitted a variation request demanding an additional N171,755,448,105.05 billion, representing an 87.77 per cent increase in project cost. If approved, this would raise the total project cost to a staggering N367,451,428,344.66 bn

“It is important to note that in an attempt to forestall such unreasonable claims and protect the State from such arbitrary variation requests, the Rivers State Government at the commencement of the project took a facility from a bank and paid a 77 per cent advance payment in the sum of N150,000,000,000.00 to Julius Berger”, the statement added.

Heirs Insurance offers N10m in essay contest 30th May 20

The Heirs Insurance Group has announced the opening of applications for the fourth edition of its annual Heirs Insurance Essay Championship, targeted at junior secondary school students nationwide.

In a statement on Wednesday, it was indicated that N10.5m worth of prizes will be up for grabs in this year’s edition features N10.5m worth of prizes.

The winning student will receive an N5 m scholarship along with an N1m education grant for their school. The first and second runners-up will receive N2m and N1m scholarships, respectively. In addition, insurance-focused themes and quizzes have been embedded into the application process for students, ensuring early engagement with the concept of insurance.

To participate, students must submit original essays of not more than 500 words on the topic ‘The Role of Insurance in Keeping Families Safe and Secure’ via its website. Submissions are open from May 27 to July 8, 2025.

In a significant expansion of the initiative, the 2025 edition introduces the Teachers’ Insurance Awareness Prize, a new category designed to recognise and reward teachers who actively promote insurance education within schools and communities.

For the Teachers’ Insurance Awareness Prize, the top teacher will receive a N1m cash prize, with an additional N500,000 grant awarded to their school. To qualify, teachers must implement an insurance awareness project and provide evidence of their initiative and its impact.

Commenting on this year’s competition, Chief Marketing Officer, Heirs Insurance Group, Ifesinachi Okpagu, said, “We are excited to return with an even bigger edition of the Heirs Insurance Essay Championship. This year, we are not only empowering students and their schools but also shining a light on the critical role teachers play in shaping financially aware communities. Across our businesses, we see education as a powerful tool to build a more secure future, and we are proud to drive that vision forward.”

The Heirs Insurance Essay Championship remains a flagship Corporate Social Responsibility initiative of Heirs Insurance Group, aimed at improving education outcomes and deepening insurance awareness among the younger generation. Winners of the programme will be announced at a Grand Finale event in August 2025.

Heirs Insurance Group is the insurance arm of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents.

I’ll borrow when absolutely necessary – Otti

Abia State Governor, Alex Otti, has said that his administration will only borrow money to run the state when it is absolutely necessary.

The governor made the vow in Umuahia on Wednesday during a lecture series to mark his two years in office.

Otti, while responding to some of the issues raised by the lecturer, Dr Idika Kalu, a one-time Finance Minister, said borrowing was not to be done recklessly, adding that he would only borrow when necessary.

The governor said he had to inculcate financial discipline and responsibility in the system to get the state to a greater level.

He said he had been paying workers and pensioners, having found that it made more economic sense to pay than to keep the money at the bank.

“We shall commit the remaining two years of this term to institutionalising the reforms that have been initiated.

“Collectively, we shall make Abia the hub of transformational ideas; we shall not be tired of listening to new ideas, for that is the path to continuous growth and progress,” Otti stated.

The governor thanked Kalu for accepting the invitation to deliver his administration’s second anniversary lecture.

Otti said the state put the lecture together to “talk to ourselves honestly and evaluate how far we have come, what we have done right, and what we can do better.”

In his lecture, the former Minister of Finance urged the governor to borrow to expand projects that would create value for the state.

The octogenarian maintained that such borrowing was not bad once it was done in the interest of the state.

The lecture was titled, “Two years of transformation; Sustaining the momentum.”

Kalu also urged Otti to use the media in major roles in his development efforts because of its power to cause change.

“The media can help this nation get back to life so don’t give them minor roles but give them key roles,” Kalu said.

Kalu commended Otti for his numerous projects some of which he said he had seen delivered while some are still ongoing.

He urged the government to always abide by the rule of law and to show examples of how things should be done rightly and uprightly.

Kalu harped on the need to punish errant persons who instilled impunity in the society, noting that a society where impunity reigned was not modernised.

NAN

Chiderije Mbah Wins One Day MD/CEO Of Wema Bank PLC

Chiderije Mbah Wins One Day MD/CEO Of Wema Bank PL

… Set To Run The Bank’s Affairs For 24 Hours In An Unforgettable Children’s Day Experience

In a heartfelt celebration of 2025 Children’s Day, Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has unveiled 12-year-old Chiderije Mbah as its One-Day Managing Director/CEO for May 27, 2025, as part of a special initiative aimed at nurturing the next generation of Nigerian leaders. The memorable experience, which took place today, at the bank’s headquarters in Lagos, Marina, spotlighted Wema Bank’s ongoing commitment to investing in the future even as it marks 80 remarkable years of legacy and impact.

Chiderije Mbah became the winner of the One-Day Wema Bank MD/CEO initiative launched in May 2025, to mark this year’s Children’s Day celebration. He was chosen after sharing a spirited video explaining his dream of leading a bank and his vision for making finance more fun and accessible for children. His entry, submitted through a social media challenge, stood out among dozens who applied to be in the position.

The One-Day Wema Bank MD/CEO was the high point of a broader Children’s Day initiative by Wema Bank, which invited children across the country to participate in an online challenge. To qualify, children were asked to post a short video dressed in Wema colours and share the banking role they aspired to, while either holding or opening a Royal Kiddies Account (for ages 0–12) or an ALAT Xplore Wallet (for teenagers 13–17). The campaign blended fun with purpose, introducing thousands of young Nigerians to early financial education and the power of dreaming big.

On Tuesday, May 27, 2025, Chiderije stepped into the spotlight at Wema Bank’s Lagos Headquarters, receiving a purple-carpet welcome and taking his seat at the helm of the bank for a day packed with leadership, learning, and excitement. Enjoying a full day of activities; from a guided tour of the head office to holding his own executive briefing session in the boardroom, he will also be addressing senior executives of the bank.

“This is the best day of my life,” said Chiderije Mbah. “Wema Bank made me feel important. I am learning so much about being a leader and how banking works. I’ll tell all my friends to open a Wema Bank Royal Kiddies Account so they can also start learning how to save and maybe one day, they can be MD too!”

Speaking on the initiative, Wema Bank’s Managing Director/CEO, Moruf Oseni, said,

“Our 80th anniversary is a time to reflect on where we’ve been and where we’re going, knowing fully well that the future belongs to the young stars like Chiderije. Today’s activity is one of our ways of showing that we believe in the children, that we’re listening, and that we’re committed to helping them succeed financially, personally, and professionally all the way.”

This unforgettable experience reinforces Wema Bank’s vision of a future-ready Nigeria; one where financial inclusion starts early, and every child has access to tools, inspiration, and opportunities to thrive. As Wema bank celebrates eight decades of resilience and innovation, its gaze remains firmly fixed on the horizon, championing the dreams of tomorrow’s leaders, one child at a time.

EU, World Bank back FG’s skills programme

The European Union and the World Bank are backing the Federal Government of Nigeria as the country scales up its Three Million Technical Talent programme with support in a renewed push to equip young people with digital skills and connect them to global job opportunities.

The 3MTT programme is a flagship initiative of Nigeria’s Federal Ministry of Communications, Innovation and Digital Economy. Its primary goal is to train three million Nigerians in key technical skills by 2027, thereby building a robust digital workforce to power Nigeria’s economy and position the country as a global exporter of tech talent.

The Minister of Communications, Innovation and Digital Economy, Bosun Tijjani, said the 3MTT initiative, billed as the world’s largest talent accelerator, is central to President Bola Tinubu’s vision for human capital development.

“When we came in, he said we must create one million technical jobs,” Tijjani told TVC recently. “That’s why we started the 3MTT programme… Every state I travel to, I meet young participants who are now gaining new skills and access to real opportunities.”

The programme, which began in 2023 with a pilot phase involving one per cent of its target, is now expanding rapidly. “We shifted to 10 per cent last year to learn what’s working,” Tijjani said. “Now we’re going full scale.”

According to the minister, the European Union has committed over €11m to support the programme. The World Bank is also analysing the initiative’s impact as part of a broader effort to scale up youth employment solutions.

Unlike past government-led training schemes, 3MTT has emphasised job placement alongside skills acquisition. Tijjani said partnerships with private companies and international organisations such as the United Nations Development Programme, which pays internship salaries for participants, have helped thousands of beneficiaries gain practical work experience.

He added that the government will soon launch Talent City, a new initiative that will convert public buildings into business process outsourcing hubs capable of hosting global service firms. The move is aimed at tapping into the growing demand for English-speaking talent in the BPO industry, a sector long dominated by countries such as India and the Philippines.

“We’re starting with the Digital Bridge Institute in Lagos and working with state governments to renovate iconic buildings like the Standard Building to house more outsourcing operations,” he said.

Tijjani stressed that the government is taking a data-driven approach. “We’re not just throwing numbers around. This is about people’s lives,” he said.

SHAREHOLDERS COMMEND WEMA BANK AT 2024 ANNUAL GENERAL MEETING

SHAREHOLDERS COMMEND WEMA BANK AT 2024 ANNUAL GENERAL MEETIN
…Express confidence in stable future following FY 2024 Financial Performance

Reinforcing its position as one of Nigeria’s most profitable financial institutions, Wema Bank, Nigeria’s oldest indigenous bank, most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has received a unanimous vote of confidence from its shareholders across Nigeria as it disclosed a record-breaking financial performance at its 2024 Annual General Meeting (AGM). The Wema Bank 2024 AGM held virtually in Lagos on Thursday, May 22, 2025.

According to the Bank’s 2024 Annual Report, Wema Bank, in 2024, recorded an all-time-high performance, with Gross Earnings growing by 91.51% from N225.75 billion in FY 2023 to N432.34 billion in FY 2024; Profit before Tax (PBT) increasing by 135.16% to N102.51 billion in FY 2024 from N43.59 billion in FY 2023, and Profit After Tax (PAT) increasing by 140.13% to N86.29 billion from N35.93 billion reported in FY 2023; Total Deposits rose by 35.65% to N2,523.82 billion in FY 2024 from N 1,860.57 billion in FY 2023 and Total Assets stood at N3,585.05billion in FY 2024, representing a 60.04% increase over the N2,240.06billion recorded in the corresponding year of 2023 and placing the Bank squarely above the One trillion Naira mark, a milestone the Bank surpassed in Q3 2021.

The Bank also grew its loans to customers by 49.94% to close FY 2024 at N1,201.21 billion from the N801.10 billion recorded in 2023. Impressively, the Wema and ALAT brands continue to win public acceptance and market relevance as the Bank continues to record growth in its retail deposit drive. 2024 has proven beyond doubt to be an exceptional for the Bank with earnings growing by 91.51% year on year with earnings per share at 483.2 kobo. Additionally, the Bank’s Non-Performing Loan rate closed at 3.86%, a reduction from FY 2023 position. It is no surprise that the Bank received unanimous commendation from shareholders, with both internal and external stakeholders expressing full confidence in the Bank’s stable outlook and successful financial future.

Among the shareholders who expressed a vote of confidence in Wema Bank were Mr. Matthew Akinlade, who commended the Management for a performance he regarded as “very outstanding”, and Ambassador Doctor Olatunde Okelana, who described the 2024 financial performance of Wema Bank as “historical”, commending Wema Bank’s proactive approach to employee well-being.

Mrs. Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, also added, “I want to start by commending Wema Bank’s outstanding performance despite the challenging macroeconomic performance. On gender inclusion, I would also like to commend Wema Bank for an impressive gender diversity on the board with 5 out of 11 directors being female, representing a remarkable 38% ratio. Furthermore, I want to seriously commend the succession plan of Wema Bank, and the board for achieving 100% attendance in meetings, which shows a full commitment on their part”.
Anchoring the Wema Bank 2024 AGM, Dr. Oluwayemisi Olorunshola, the Chairman of Wema Bank, expressed the Bank’s gratitude and appreciation to its shareholders, customers, employees, regulators, partners and other stakeholders, for their continued support and contributions to the Bank’s outstanding performance for the year in view, reiterating the Bank’s commitment to sustain the upward surge in its performance in the decades to come.

Alluding to the Bank’s plan for sustaining the gargantuan growth recorded in 2024, Moruf Oseni, the Bank’s MD/CEO, added, “We will continue to deliver best-in-class financial solutions, invest in second-to-none technology, reinforce our internal framework for maximum efficiency and remain fully committed to innovation and service excellence, as we continue to provide optimum returns for every stakeholder of Wema Bank. The N150 billion Rights Issue window ended yesterday May 21st, 2025. However, we have raised a motion to raise another N50 billion through private placement, and with your permission, we will proceed with that, come June 2025”.

“At the end of it all, what we expect is that Wema Bank will have qualifying capital slightly north of N267 billion, which allows us to sustain the resilient and robust franchise that we have built together, to keep Wema Bank thriving as a force to be reckoned with in the industry. Wema Bank stands strong at 80 and in the decades to come, I can assure you that the growth we are experiencing today, is just a tip of the iceberg”, Oseni concluded.

Wema Bank 2024 AGM saw the Bank’s shareholders authorise a number of decisions including the re-election of board members, remuneration of Audit and Board members, and payment of dividends of N1 per share.

From marking the incredible milestone of its 80th anniversary to making significant strides towards meeting the CBN recapitalisation benchmark for 2026 and achieving a record-breaking 2024 financial performance that has sustained an unparalleled growth streak over the past decade, Wema Bank has proven its capacity to remain at the forefront of the African financial industry without compromising on delivering unmatched value to stakeholders.

FIRS slams FCTA over closure of Abuja office

The Federal Inland Revenue Service has condemned the Federal Capital Territory Administration for shutting down one of its offices in Abuja.

The agency described the action as “malicious” and “unprofessional.”

In a statement released via X (formerly Twitter), Aderonke Atoyebi, Technical Assistant on Broadcast Media to the FIRS Executive Chairman, accused the FCTA of unfairly targeting the agency.

“It is highly unprofessional of the Wike-led FCTA to close our office, disrupting staff from performing their duties when we have done nothing wrong, especially during a crucial week as we prepare to sign the Tax Reform Bills. FCTA, you have erred gravely; FIRS owes you nothing,” Atoyebi asserted.

She further accused the FCTA of attempting to use FIRS as a scapegoat, adding, “If you are looking for a fall guy, look elsewhere. We should not be your scapegoat when you know full well that the falsehoods you spread in the media and your malicious, illegal actions will harm our operations.”

Atoyebi maintained that the agency has no outstanding rent payments to the FCTA for the past 25 years and insisted that all obligations had been settled up to 2023.

“We have the evidence,” she emphasised, pushing back against claims of indebtedness.

According to her, the incident comes at a critical juncture for Nigeria’s tax system, with major reform legislation expected to be finalised soon.

She warned that such disruptions could undermine public confidence and delay the implementation of key fiscal policies.

Analysts caution that escalating tensions between federal agencies may affect service delivery and create institutional instability.

Meanwhile, the National Assembly indicated that it might pass the harmonised Tax Reform Bills by Tuesday, following a successful review of contentious clauses.

James Faleke, Chairman of the House Committee on Finance and leader of the House delegation for the bills’ harmonisation exercise, disclosed this via his official X account on Sunday.

He tweeted, “The Conference Committee set up by the House and the Senate on the Tax Reform Bills has successfully concluded its work. The joint committees thoroughly reviewed all sections, addressed grey areas in the four Bills, examined each clause strategically, and resolved contentious issues.”

Earlier, PUNCH Online reported that the FCTA sealed the FIRS office in Abuja for similar violations alongside an Access Bank branch and a Total petrol station in Zone 6, Wuse, Abuja, over non-payment of ground rent spanning 34 years.