MFM Hosts Seminar on New Tax Laws

Sunday Ehigiator

The Mountain of Fire and Miracles Ministries (MFM), Rivers State Mega Region, has organised a public seminar on Nigeria’s new tax law in Port Harcourt, aimed at educating church members and the wider public on the implications, benefits and compliance requirements of the reforms.

The seminar, which formed part of the church’s corporate social responsibility (CSR) initiatives, provided a platform for interaction between participants and agencies involved in the implementation of the new tax regime.

In his welcome address, the Mega Senior Regional Overseer of MFM, Rivers State Mega Region, Pastor Olawole Dahunsi, reaffirmed the church’s commitment to promoting law-abiding conduct and positive transformation within society.

He noted that MFM consistently teaches its members to obey constituted authority and to act as agents of change in their communities.

Dahunsi explained that the church has “continued to engage in various humanitarian interventions, welfare initiatives and CSR programmes designed to empower members, host communities and the general public, with a focus on economic independence and self-reliance.”

He described the public seminar as “one of MFM’s empowerment programmes and expressed appreciation to the General Overseer of MFM Worldwide, Dr. Daniel Kolawole Olukoya, and his wife, Dr. (Mrs.) Folashade Elizabeth Olukoya, for directing the church to intensify efforts at impacting lives beyond spiritual teachings.”

He also acknowledged the support of the Assistant General Overseer in charge of African Nations, Pastor Lawrence Olashehinde.

The seminar featured presentations on a wide range of topics, including an analysis of the new tax law, its benefits and opportunities, implications for businesses and individuals, compliance requirements, PAYE and other taxes in Rivers State, company income tax, capital markets, securities and tax law, Tax Identification Number (TIN) regulations, business status under the new tax framework, tax exemptions, and the taxation of remote and diaspora income.

Speaking at the event, tax consultant and auditor, Pastor Kola Bamiwuye, stressed the importance of registering for a Tax Identification Number and complying with the provisions of the new law.

He explained that individuals earning both earned and unearned income, as well as companies, are required to obtain a TIN and meet statutory obligations, including pension registrations where applicable.

Also speaking, Lead Consultant and Founder of Clarylife Global, Mr. Simeon Taiwo, addressed issues relating to remote and diaspora income and Nigeria’s digital income tax.

He noted that the 2026 tax reforms have expanded obligations for digital earners, with foreign salaries, online freelance fees, foreign exchange gains and proceeds from digital asset disposals now explicitly covered under the new framework.

Taiwo advised participants to obtain a TIN, maintain detailed payment records such as bank receipts and exchange statements, request withholding tax certificates from local clients and ensure annual filing through official portals.

He warned that tax authorities now have improved data-sharing arrangements with banks and digital platforms, enabling presumptive assessments where records are inadequate.

Other speakers included Godgift Ebelogu of the Rivers State Internal Revenue Service, who spoke on PAYE and other state taxes, and Mr. Ike Ukwuoma, who discussed TIN and Nigerian tax law, urging members of the public to obtain their TINs for seamless transactions across states.

Also speaking, Hon. Mrs. Ani Christabel enlightened participants on business name registration, advising on the use of family name combinations to create unique and professional brands. She emphasised the importance of registering businesses with the Corporate Affairs Commission, filing annual returns, paying taxes and upgrading to limited liability company status where applicable under the new tax policy.

The seminar concluded with an interactive question-and-answer session, during which participants received clarifications on the new tax law, its reliefs for low-income earners and the penalties associated with non-compliance.