The Federal Government has called on agencies recruiting for the private sector to adhere to the N70,000 minimum wage, warning that any deviation would not be tolerated.

According to the FG, the new minimum wage is necessary to address the current economic reality, emphasising that no Nigerian worker, whether in government or private employment, should be paid less than the minimum wage.

The Permanent Secretary, Federal Ministry of Labour and Employment, Alhaji Ismaila Abubakar, stated this on Wednesday while speaking at the 13th Annual General Meeting of the Employers Association for Private Employment Agencies of Nigeria, held in Ikeja, Lagos.

Abubakar, who was represented by the Director of Employment and Wages of the ministry, John Nyamali, said, “The minimum wage is now a law, and as a result, it is a punishable crime for any employer to pay less than N70,000 to any of its workers.

“The private employment agencies should make it compulsory in any contract they take from their principal that their workers should not earn less than the minimum wage. The least paid worker in Nigeria should earn N70,000, and I think that should be after all deductions.

“The minimum wage is a law, and you can be jailed if you fail to implement it. The Federal Government is committed to ensuring that the least paid worker goes home with N70,000.”

In his remarks, the President of the Employers Association for Private Employment Agencies of Nigeria, Dr Olufemi Ogunlowo, asked the government and Nigeria Labour Congress to clarify whether the N70,000 minimum wage is net or gross, stating that all ambiguities in the Act should be highlighted and explained.

According to Ogunlowo, the EAPEAN is already committed to the minimum wage, providing decent jobs for Nigerians, and guarding against the exploitation of human resources.

“As an employers union in the private sector, we are committed to implementing the minimum wage. We are a law-abiding and guided association. Our principals and clients have also keyed into the minimum wage.

“However, the government must clarify whether the N70,000 minimum wage is net or gross. The government and NLC should address all ambiguities in the minimum wage,” he stated.

Speaking at the programme, the Chairperson of the NLC, Lagos State Council, Funmilayo Sessi, said the prevailing hardship had made a mess of whatever income any worker was earning in Nigeria, calling on private employers to ensure the payment of the N70,000 minimum wage.

She said, “The N70,000 isn’t enough in the current economic realities. By the time the consequential adjustment is concluded, all private employment agencies should immediately start paying their workers the N70,000 minimum wage.

“The NLC in Lagos State will see to the strict enforcement of the minimum wage. EAPEAN should avoid confrontation with the NLC on the minimum wage.”

Instagram has launched ‘teen accounts,’ a special feature to help protect under-18 users and enhance their safety on the platform.

Meta, the parent company of Instagram and Facebook, announced the launch in a statement via its blog on Tuesday.

It said all accounts belonging to users under 18 will be automatically converted to Instagram teen accounts, which will be set to private by default.

The teen accounts will only receive messages from people they follow or are already connected to.

The platform will also limit “sensitive content” including violence and videos promoting cosmetic procedures and filter out “offensive words and phrases” from comments and direct message requests.

The feature will allow teenagers to get notifications telling them to leave the app after 60 minutes each day.

A “sleep mode” will also automatically mute notifications between 10pm and 7am, and auto-reply to messages telling people to contact the user during the daytime.

Users under the age of 16 will need parental permission to modify the default settings but 16 and 17 will be allowed to disable the settings without needing approval from a parent.

Parents will also have access to a set of tools that let them monitor their children’s interactions and restrict app usage.

The feature is expected to start rolling out within 60 days in UK, US, Canada and Australia while other countries will start to get theirs by January.

Meta also announced it will bring teen accounts to other social media platforms under its parentage in 2025.

The Federal Inland Revenue Service (FIRS) says it will introduce an electronic invoice (e-invoice) to improve the tax system in Nigeria.

Zacchaeus Adedeji, executive chairman, FIRS, spoke on Wednesday in Lagos during an engagement with the organised private sector on ‘Emerging Tax Matters’.

Adedeji was represented by Oti Olaniyi, acting director of the medium taxpayers department at the FIRS.

“The e-invoice was necessary as the country moved forward to innovate and enhance its tax system”, Adedeji said.

Adedeji said the initiative, a digital solution for managing invoices, is in line with the Tax Administration and Enforcement Act 2007.

The taxman said it is also part of the FIRS’s digital transformation strategy and would facilitate real-time transaction validation and storage — benefiting business-to-business, business-to-consumer, and business-to-government transactions.

He said the emerging tax matters in Nigeria present both challenges and opportunities.

“Our collective efforts will pave the way for a more prosperous and resilient Nigeria,” Adedeji said.

“As we move forward, we encourage you to support these initiatives with constructive feedback and collaboration.

“By doing so, we can all build a stronger, more resilient economy that benefits everyone.”

Adedeji said Nigeria could develop a tax system to support sustainable growth and equitable development by embracing reforms, leveraging technology, and ensuring transparency.

He said the country has gotten to a crucial juncture in its economic evolution and must explore various tax incentives to stimulate local industries.

The FIRS chairman added that the informal sector, which constitutes a large part of the economy, posed unique challenges as many small and micro businesses operated outside the formal tax system.

He said to engage the sector effectively, the government would explore simplified tax regimes and registration incentives.

LCCI CALLS FOR PARTNERSHIP TO ENSURE TAX POLICIES SUPPORT BUSINESSES

In his remarks, Gabriel Idahosa, president of Lagos Chamber of Commerce and Industry (LCCI), urged the FIRS to collaborate with the private sector and government to ensure that tax policies support business innovation and competitiveness.

Speaking on reforms, Idahosa said Nigeria’s tax system had undergone significant transformations driven by reforms and policy changes to boost revenue, simplify compliance, and address critical fiscal challenges.

He said under its new leadership, the FIRS had set ambitious goals to increase tax collection by 57 percent, targeting a revenue of N19.4 trillion for 2024.

Idahosa said though the country’s current tax-to-gross domestic product (GDP) ratio stood at 10.86 percent, the government aimed to achieve a tax-to-GDP ratio of 18 percent within the next three years through newly introduced tax reforms.

According to the LCCI president, reaching the goal would require concerted effort from both the public and private sectors, along with targeted reforms aimed at simplifying tax policies and encouraging compliance.

“There is also a growing need for collaboration between the private sector and the government to ensure that tax policies support business innovation and competitiveness,” Idahosa said.

“For instance, recommending tax breaks for wage increases and removing barriers to foreign currency-denominated transactions can create a more robust investment environment.

“As we move forward in 2024, Nigeria’s fiscal policy is at a critical juncture; the drive to expand the tax net, streamline the system and boost compliance is essential for securing Nigeria’s economic future.”

Idahosa said for the reforms to succeed, the government must foster trust through transparency and fairness, while businesses and citizens must embrace a culture of tax compliance.