If you're in Anambra State and working in the construction industry, your tax filing is usually done through Direct Assessment (Self-Employed Personal Income Tax) — not based on total money entering your account, but based on your profit (after deducting client expenses). Let me break it down clearlRead more
If you’re in Anambra State and working in the construction industry, your tax filing is usually done through Direct Assessment (Self-Employed Personal Income Tax) — not based on total money entering your account, but based on your profit (after deducting client expenses).
Let me break it down clearly 👇
1. First — Understand What You Should Be Taxed On
Since you said:
“Most money to me are for clients money to buy materials and pay labour”
You DO NOT PAY TAX on:
Client money for materials
Labour payments
Transport for project
Site expenses
You ONLY PAY TAX on:
Your profit
Your management fee
Your commission
Your contractor margin
Example:
Project Value = ₦5,000,000
Materials = ₦3,800,000
Labour = ₦800,000
Your Profit = ₦400,000
👉 You are taxed on ₦400,000 only (not ₦5M)
This is very important for construction professionals.
2. Where To File in Anambra State
You can file through Anambra State Internal Revenue Service (AIRS) which is responsible for assessing and collecting personal income tax in the state.
airs.an.gov.ng
You can file:
Option A — Online
Use the official portal: https://tax.services.an.gov.ng
anambrastate.gov.ng
Option B — Visit Tax Office (Recommended for First Time)
You can visit any of these:
Revenue House Awka
Anambra State Board of Internal Revenue
Tax Office
They will help you file Direct Assessment.
3. Documents You Should Take
Go with:
✔ Bank statement (optional but useful)
✔ Project records (even rough notebook is fine)
✔ ID card (NIN or Voter card)
✔ Phone number
✔ Address
You don’t need CAC if you’re operating personally.
4. How They Calculate Your Tax (Simple Method)
Usually they ask:
What type of construction work?
How many projects last year?
Your estimated profit
Then they compute tax using Personal Income Tax rates.
Typical Example:
Profit ₦1,500,000 yearly
Tax may be around:
₦30,000 — ₦90,000 yearly (approx depending on reliefs)
5. Deadline (Important)
The Anambra IRS extended the 2026 filing deadline to April 30, 2026, giving taxpayers extra time to submit returns. �
Punch Newspapers +1
So you’re still within time.
6. Pro Tip (Very Important for Construction Professionals)
Start keeping simple records like:
Project
Client
Cost
Labour
Profit
House Build
Mr John
5M
800k
400k
Even simple notebook is enough.
This helps you:
Pay less tax legally
Avoid over-assessment
Get Tax Clearance Certificate (TCC)
Both building to rent and building to sell are profitable — but they serve different financial goals. Here’s the clear, practical comparison: Option 1: Build and Rent (Long-Term Wealth) 🏘️ Advantages ✅ Steady passive income (yearly rent) ✅ Property value appreciates over time ✅ Can borrow against prRead more
Both building to rent and building to sell are profitable — but they serve different financial goals.
Here’s the clear, practical comparison:
Option 1: Build and Rent (Long-Term Wealth) 🏘️
Advantages
✅ Steady passive income (yearly rent)
✅ Property value appreciates over time
✅ Can borrow against property later
✅ Builds generational wealth
Disadvantages
⚠️ Slow return on investment
⚠️ Tenant issues (default, repairs, vacancies)
⚠️ Maintenance costs
Example
Build 4 flats for ₦60 million
Rent each at ₦800,000/year
Annual income = ₦3.2 million
This means:
About 5–8% yearly return
But property value may increase to ₦90M–₦120M later 📈
👉 Best for:
Long-term investors
Passive income seekers
Wealth building
Option 2: Build and Sell (Quick Profit) 🏗️💰
Advantages
✅ Faster profit
✅ No tenant stress
✅ Easier to scale (build → sell → repeat)
✅ Better cash flow
Disadvantages
⚠️ Market risk (slow sales)
⚠️ Requires good location selection
⚠️ No long-term passive income
Example
Build house for ₦40 million
Sell for ₦55 million
Profit = ₦15 million
👉 Best for:
Business-minded investors
Developers
Faster wealth creation
Which Is Better?
It depends on your goal:
Goal
Best Option
Passive income
Build & Rent
Fast cash
Build & Sell
Long-term wealth
Build & Rent
Business growth
Build & Sell
Financial security
Build & Rent
Smart Investors Do Both (Best Strategy) ⭐
Many experienced investors:
Build 3 houses
Sell 2 houses
Keep 1 for rent
This gives: ✅ Quick cash
✅ Passive income
✅ Long-term wealth
Yes — there are many solid investments beyond Money Market Funds and High-Yield platforms. In fact, relying only on those two may limit your growth. Here are better alternatives (from low risk → higher return): 1. Treasury Bills (Very Low Risk) Issued by Nigerian government Duration: 91, 182, or 364Read more
Yes — there are many solid investments beyond Money Market Funds and High-Yield platforms. In fact, relying only on those two may limit your growth.
Here are better alternatives (from low risk → higher return):
1. Treasury Bills (Very Low Risk)
Issued by Nigerian government
Duration: 91, 182, or 364 days
Fixed returns
Very safe investment optio
Best for:
Parking money short-term
Capital preservation
2. FGN Bonds (Low Risk + Regular Income)
Government-backed
Pays quarterly interest
Duration: 2–3 years
Very stable investment
Best for:
Passive income
Long-term investors
3. Dividend-Paying Stocks (Moderate Risk)
Example:
Banks
Oil companies
Consumer companies
You earn:
Dividend income
Capital appreciation
Stocks are ownership in companies and can increase in value depending on company performance.
Best for:
Long-term wealth building
4. Fixed Deposits (Low Risk)
Lock money in bank
Fixed interest
Very simple investment
Good for:
Conservative investors
Short-term goals
5. Bond Funds (Low–Moderate Risk)
Invests in government & corporate bonds
More stable than stocks
Better returns than money market sometimes
6. Real Estate (Medium Risk — Good Long-Term)
Land
Rental property
Real estate funds
Real estate is commonly used for income + appreciation.
7. Gold Investment (Inflation Protection)
Many investors use gold as:
Safe-haven asset
Inflation hedge
Especially useful when currency weakens.
8. REITs (Real Estate Without Buying Land)
Invest in property indirectly
Earn rental income
No need to manage tenants
Very underrated investment.
My Personal Ranking (Smart Portfolio)
If you want balance:
30% Money Market Fund
20% Bonds / Treasury Bills
20% Dividend Stocks
15% Real Estate / REIT
10% Dollar investments
5% High-risk opportunities
This gives:
Safety
Growth
Passive income
Yes — every state in Nigeria can have its own tax filing process, even though your TIN remains the same nationwide. Here’s the clarity: 1. TIN vs State Tax ID (Like ASIN) TIN (Tax Identification Number) — issued by Federal Inland Revenue Service (FIRS) Used across Nigeria One person = One TIN (for lRead more
Yes — every state in Nigeria can have its own tax filing process, even though your TIN remains the same nationwide.
Here’s the clarity:
1. TIN vs State Tax ID (Like ASIN)
TIN (Tax Identification Number) — issued by Federal Inland Revenue Service (FIRS)
Used across Nigeria
One person = One TIN (for life)
However…
Many states also create their own internal taxpayer ID for administrative purposes.
Examples:
Anambra State Internal Revenue Service uses ASIN (Anambra State Identification Number)
Lagos State Internal Revenue Service uses LASRIN
Imo State Internal Revenue Service may generate state taxpayer ID when you register
So yes — states may have their own systems, but TIN is still the master number.
2. If You Live in Imo State — Where Should You File?
For Personal Income Tax, you file in: 👉 State where you live and work
So since you’re living in Imo: You should file with
Imo State Internal Revenue Service
Even if:
Your business is elsewhere
Your company HQ is elsewhere
Your residential state is what matters.
3. How To File in Imo State (Step-by-Step)
Step 1 — Confirm Your TIN
You already have this (good 👍)
Step 2 — Register with Imo State IRS
You may be asked for:
TIN
Phone number
Address in Imo
Occupation
Email
They may generate Imo taxpayer ID for you.
Step 3 — File Your Annual Return
Deadline: 📅 Usually March 31 every year (for individuals)
You submit:
Income details
Business income (if any)
Salary income (if any)
4. Important (Since You Often Ask About Salary + Business)
Because you previously mentioned:
Salary income
Business income
You must declare both when filing in Imo State.
Even if:
PAYE already deducted from salary
You still must file annual return.
(This is very important — many people miss this.)
Quick Summary
TIN = National (used everywhere)
ASIN = State-specific (Anambra example)
Imo may issue its own ID
File tax where you live (Imo)
This situation is very common in Nigeria, and the good news is: your father's dividends and shares can still be recovered, even after many years. Let’s break it down step-by-step. Step 1: Confirm the Shares Still Exist Since you mentioned Oando Plc, the first step is to contact the company's registrRead more
This situation is very common in Nigeria, and the good news is: your father’s dividends and shares can still be recovered, even after many years.
Let’s break it down step-by-step.
Step 1: Confirm the Shares Still Exist
Since you mentioned Oando Plc, the first step is to contact the company’s registrar.
Oando Plc’s registrar is usually:
First Registrars and Investor Services Limited
The registrar keeps records of:
Number of shares
Unclaimed dividends
Next of kin (if available)
Shareholder address
Step 2: Gather Basic Information
Before contacting them, try to get:
Father’s full name
Old home address (very important)
Approximate year he bought shares
Any old dividend letters (if available)
Any share certificate (if available)
Even if you don’t have documents, they can still trace using name + address.
Step 3: Since Your Father Is Deceased (Important Step)
Because your father passed away in 2011, you must legally claim the shares as beneficiaries.
You will need:
Required Documents
Death certificate
Letter of Administration (if no will)
Valid ID of beneficiaries
Passport photographs
Birth certificate (to prove relationship)
Step 4: Apply for Letter of Administration
Since you said:
Your father had no bank account
No will mentioned
You will likely need Letter of Administration from the Probate Registry at the High Court.
This gives you legal authority to claim:
Shares
Dividends
Other investments
Step 5: Check Unclaimed Dividend Portal (Very Important)
Also check:
Securities and Exchange Commission Nigeria
Central Securities Clearing System Plc
They help track:
Unclaimed dividends
Dormant shares
Registrar information
Why Dividends Stopped Coming
This usually happens when:
Address changed
Dividend became electronic (e-dividend)
Shares moved to CSCS account
Mail stopped being delivered
So the money did not disappear — it’s still there.
Important Tip (Very Important)
Because it’s over 16–18 years, your father may have:
Bonus shares
Rights issues
Increased share value
Accumulated dividends
The value may be much higher now 📈
If you’re comfortable sharing:
Your father’s name (or initials)
Any company name you remember (besides Oando)
I can help you trace it step-by-step.
Short answer: No — you will NOT receive the same dividend. Dividend from NIDF depends on how many units you hold on the qualification date, not how long you held them. Let me break it down clearly: How Dividend Works (Very Important) For dividend payment, there are 3 key dates: Qualification Date (CRead more
Short answer: No — you will NOT receive the same dividend.
Dividend from NIDF depends on how many units you hold on the qualification date, not how long you held them.
Let me break it down clearly:
How Dividend Works (Very Important)
For dividend payment, there are 3 key dates:
Qualification Date (Closure Date) → Only investors holding shares before this date qualify
Ex-Dividend Date → If you buy after this, you won’t get dividend
Payment Date → When money is paid
👉 Dividend is based on how many units you hold, not how many months you held.
Your Example Explained
Let’s assume:
You invested ₦1,000,000 3 months before dividend
Another person invested ₦1,000,000 1 month before dividend
Both held till qualification date
Result:
You both receive same dividend (because same units held)
But Here’s What Most People Miss
If NIDF price rises before dividend:
You invested 3 months earlier → You likely bought cheaper
The other person invested 1 month earlier → Likely bought more expensive
So:
You may hold more units
Therefore you receive more dividend
Example:
Investor
Price per Unit
Amount
Units
You (3 months earlier)
₦100
₦1,000,000
10,000 units
Person (1 month earlier)
₦120
₦1,000,000
8,333 units
Dividend = ₦5 per unit
You = ₦50,000
Person = ₦41,665
So earlier investors often earn more.
About The Strategy You Mentioned
“Withdraw after dividend → Invest in MMM → Return before dividend”
⚠️ This is very risky:
MMM Global is a Ponzi scheme (collapsed before in Nigeria)
You may lose capital completely
You may miss qualification date
NIDF price may rise while you’re out
This strategy is called Dividend Capture Strategy — but it doesn’t always work.
Why? After dividend:
Share price usually drops by dividend amount
So you may gain dividend but lose in price.
My Practical Advice (Safer Approach)
With funds like NIDF:
Hold long-term
Reinvest dividend
Allow compounding 📈
This is typically more stable and profitable.
When shares of a deceased person remain unclaimed (especially for 30+ years), the first step is to determine who was listed as the Next of Kin or nominee when your father bought the shares. Here is the step-by-step process in Nigeria: Step 1: Locate Any Old Share Documents Look for: Share certificatRead more
When shares of a deceased person remain unclaimed (especially for 30+ years), the first step is to determine who was listed as the Next of Kin or nominee when your father bought the shares.
Here is the step-by-step process in Nigeria:
Step 1: Locate Any Old Share Documents
Look for:
Share certificates
Dividend warrants (old dividend cheques)
CSCS statements
Purchase receipts
Broker statements
These documents usually contain:
Shareholder name
Company name
Registrar name
Shareholder account number (very important)
Step 2: Contact the Company Registrar
Every company has a Registrar that manages shareholders’ records.
Examples in Nigeria include:
First Registrars and Investor Services Limited
Meristem Registrars and Probate Services Limited
Coronation Registrars Limited
Africa Prudential Plc
Tell them:
Your father’s full name
Approximate year shares were bought
Company name
They will check:
Next of kin (if listed)
Number of shares
Unclaimed dividends
Step 3: If No Next of Kin Was Listed
This is very common (especially 30+ years ago).
Then you will need:
Required Documents
Usually:
Death certificate of your father
Letter of administration OR probate
Valid ID of beneficiaries
Passport photographs
Birth certificate (to prove relationship)
Step 4: Get Letter of Administration (If No Will)
If your father did not leave a will, you must apply for:
Letter of Administration from the Probate Registry (High Court in your state)
This legally allows you to claim:
Shares
Bank accounts
Other investments
Step 5: Check Unclaimed Dividends Portal (Very Important)
You can also search via:
Securities and Exchange Commission Nigeria (SEC Nigeria)
Central Securities Clearing System Plc (CSCS)
These help trace:
Unclaimed shares
Dividends
Registrar details
Quick Summary
To know the next of kin:
Check old share documents
Contact the company registrar
If none listed → apply for Letter of Administration
Since it’s 30+ years, there’s a very good chance:
There may be bonus shares
There may be unclaimed dividends
Value may have grown significantly 📈
This happens often in Nigeria.
The difference between filing taxable income with Federal Inland Revenue Service (FIRS) and State Internal Revenue Service (State IRS) depends mainly on who you are and the type of income. Here’s the clear breakdown 👇 1. FIRS (Federal Tax) 🇳🇬 You file with FIRS if you are: Individuals Employees of FRead more
The difference between filing taxable income with Federal Inland Revenue Service (FIRS) and State Internal Revenue Service (State IRS) depends mainly on who you are and the type of income.
Here’s the clear breakdown 👇
1. FIRS (Federal Tax) 🇳🇬
You file with FIRS if you are:
Individuals
Employees of Federal Government
Armed forces, police, immigration, etc.
Staff of Foreign embassies
Nigerians working abroad but resident in Nigeria
Residents of FCT Abuja
Companies
All Companies registered in Nigeria (Limited Liability Companies)
Taxes handled by FIRS
Companies Income Tax (CIT)
Value Added Tax (VAT)
Withholding Tax (Companies)
Education Tax
Petroleum Profit Tax
Capital Gains Tax (Companies)
2. State IRS (State Tax)
You file with State Internal Revenue Service if you are:
Individuals
Salary earners (Private company staff)
Business owners (sole proprietor)
Professionals (consultants, freelancers)
Self-employed persons
Example:
If you live/work in Lagos → file with Lagos State IRS
If you live/work in Rivers → file with Rivers State IRS
Taxes handled by State IRS
Personal Income Tax (PIT)
PAYE (Salary earners)
Direct Assessment (Business owners)
Capital Gains Tax (Individuals)
Simple Rule to Remember 🧠
If You Are
File With
Company (Ltd)
FIRS
Salary earner (Private Company)
State IRS
Business Owner (Individual)
State IRS
Federal Government Staff
FIRS
Abuja Resident
FIRS
Your Case (Based on your previous questions)
Since you mentioned:
Salary (PAYE deducted)
Running a business
You may need to:
File Personal Income Tax with your State IRS
Declare both salary + business income
Important Tip ⚠️
Even if PAYE is deducted from salary:
You still may need to file annual tax return with State IRS
If you are a company worker in Nigeria (including the South-South region) and PAYE is already deducted from your salary, here's how it works: Do You Need to Submit Evidence for PAYE? Yes — but only in some situations. 1. Normally (Most Employees) If your employer deducts PAYE monthly and remits to tRead more
If you are a company worker in Nigeria (including the South-South region) and PAYE is already deducted from your salary, here’s how it works:
Do You Need to Submit Evidence for PAYE?
Yes — but only in some situations.
1. Normally (Most Employees)
If your employer deducts PAYE monthly and remits to the tax authority like:
Rivers State Internal Revenue Service
Akwa Ibom State Internal Revenue Service
Delta State Internal Revenue Service
Edo State Internal Revenue Service
Then:
You usually don’t need to submit evidence yourself
Your employer handles everything 👍
2. When You MUST Submit Evidence
You may need to submit evidence if:
You’re filing annual tax return yourself
You’re applying for Tax Clearance Certificate (TCC)
You’re changing jobs
You’re applying for loan, visa, contract, government work
Your employer did not remit your PAYE properly
In these cases, you submit:
Evidence to Submit
Usually any of these:
PAYE Deduction Schedule from employer
Payslips showing tax deduction
Tax Card (if available)
Employer Tax Confirmation Letter
Tax Clearance Certificate (TCC)
Very Important ⚠️
Some companies deduct PAYE but don’t remit it.
To avoid problems:
Always request your Tax Clearance Certificate yearly
Or confirm from your State Internal Revenue Service
Best Practice (Recommended)
Even if PAYE is deducted:
You should still file your annual tax return (very important in Nigeria now)
How Can I File My Personal Income Tax Correctly in Anambra State, Nigeria as a Contractor?
If you're in Anambra State and working in the construction industry, your tax filing is usually done through Direct Assessment (Self-Employed Personal Income Tax) — not based on total money entering your account, but based on your profit (after deducting client expenses). Let me break it down clearlRead more
If you’re in Anambra State and working in the construction industry, your tax filing is usually done through Direct Assessment (Self-Employed Personal Income Tax) — not based on total money entering your account, but based on your profit (after deducting client expenses).
See lessLet me break it down clearly 👇
1. First — Understand What You Should Be Taxed On
Since you said:
“Most money to me are for clients money to buy materials and pay labour”
You DO NOT PAY TAX on:
Client money for materials
Labour payments
Transport for project
Site expenses
You ONLY PAY TAX on:
Your profit
Your management fee
Your commission
Your contractor margin
Example:
Project Value = ₦5,000,000
Materials = ₦3,800,000
Labour = ₦800,000
Your Profit = ₦400,000
👉 You are taxed on ₦400,000 only (not ₦5M)
This is very important for construction professionals.
2. Where To File in Anambra State
You can file through Anambra State Internal Revenue Service (AIRS) which is responsible for assessing and collecting personal income tax in the state.
airs.an.gov.ng
You can file:
Option A — Online
Use the official portal:
https://tax.services.an.gov.ng
anambrastate.gov.ng
Option B — Visit Tax Office (Recommended for First Time)
You can visit any of these:
Revenue House Awka
Anambra State Board of Internal Revenue
Tax Office
They will help you file Direct Assessment.
3. Documents You Should Take
Go with:
✔ Bank statement (optional but useful)
✔ Project records (even rough notebook is fine)
✔ ID card (NIN or Voter card)
✔ Phone number
✔ Address
You don’t need CAC if you’re operating personally.
4. How They Calculate Your Tax (Simple Method)
Usually they ask:
What type of construction work?
How many projects last year?
Your estimated profit
Then they compute tax using Personal Income Tax rates.
Typical Example:
Profit ₦1,500,000 yearly
Tax may be around:
₦30,000 — ₦90,000 yearly (approx depending on reliefs)
5. Deadline (Important)
The Anambra IRS extended the 2026 filing deadline to April 30, 2026, giving taxpayers extra time to submit returns. �
Punch Newspapers +1
So you’re still within time.
6. Pro Tip (Very Important for Construction Professionals)
Start keeping simple records like:
Project
Client
Cost
Labour
Profit
House Build
Mr John
5M
800k
400k
Even simple notebook is enough.
This helps you:
Pay less tax legally
Avoid over-assessment
Get Tax Clearance Certificate (TCC)
In Nigeria, Is It Better to Invest in Real Estate for Rental Income or for Property Sales Profit?
Both building to rent and building to sell are profitable — but they serve different financial goals. Here’s the clear, practical comparison: Option 1: Build and Rent (Long-Term Wealth) 🏘️ Advantages ✅ Steady passive income (yearly rent) ✅ Property value appreciates over time ✅ Can borrow against prRead more
Both building to rent and building to sell are profitable — but they serve different financial goals.
See lessHere’s the clear, practical comparison:
Option 1: Build and Rent (Long-Term Wealth) 🏘️
Advantages
✅ Steady passive income (yearly rent)
✅ Property value appreciates over time
✅ Can borrow against property later
✅ Builds generational wealth
Disadvantages
⚠️ Slow return on investment
⚠️ Tenant issues (default, repairs, vacancies)
⚠️ Maintenance costs
Example
Build 4 flats for ₦60 million
Rent each at ₦800,000/year
Annual income = ₦3.2 million
This means:
About 5–8% yearly return
But property value may increase to ₦90M–₦120M later 📈
👉 Best for:
Long-term investors
Passive income seekers
Wealth building
Option 2: Build and Sell (Quick Profit) 🏗️💰
Advantages
✅ Faster profit
✅ No tenant stress
✅ Easier to scale (build → sell → repeat)
✅ Better cash flow
Disadvantages
⚠️ Market risk (slow sales)
⚠️ Requires good location selection
⚠️ No long-term passive income
Example
Build house for ₦40 million
Sell for ₦55 million
Profit = ₦15 million
👉 Best for:
Business-minded investors
Developers
Faster wealth creation
Which Is Better?
It depends on your goal:
Goal
Best Option
Passive income
Build & Rent
Fast cash
Build & Sell
Long-term wealth
Build & Rent
Business growth
Build & Sell
Financial security
Build & Rent
Smart Investors Do Both (Best Strategy) ⭐
Many experienced investors:
Build 3 houses
Sell 2 houses
Keep 1 for rent
This gives: ✅ Quick cash
✅ Passive income
✅ Long-term wealth
What Are the Best Investment Options in Nigeria Besides Money Market Funds?
Yes — there are many solid investments beyond Money Market Funds and High-Yield platforms. In fact, relying only on those two may limit your growth. Here are better alternatives (from low risk → higher return): 1. Treasury Bills (Very Low Risk) Issued by Nigerian government Duration: 91, 182, or 364Read more
Yes — there are many solid investments beyond Money Market Funds and High-Yield platforms. In fact, relying only on those two may limit your growth.
See lessHere are better alternatives (from low risk → higher return):
1. Treasury Bills (Very Low Risk)
Issued by Nigerian government
Duration: 91, 182, or 364 days
Fixed returns
Very safe investment optio
Best for:
Parking money short-term
Capital preservation
2. FGN Bonds (Low Risk + Regular Income)
Government-backed
Pays quarterly interest
Duration: 2–3 years
Very stable investment
Best for:
Passive income
Long-term investors
3. Dividend-Paying Stocks (Moderate Risk)
Example:
Banks
Oil companies
Consumer companies
You earn:
Dividend income
Capital appreciation
Stocks are ownership in companies and can increase in value depending on company performance.
Best for:
Long-term wealth building
4. Fixed Deposits (Low Risk)
Lock money in bank
Fixed interest
Very simple investment
Good for:
Conservative investors
Short-term goals
5. Bond Funds (Low–Moderate Risk)
Invests in government & corporate bonds
More stable than stocks
Better returns than money market sometimes
6. Real Estate (Medium Risk — Good Long-Term)
Land
Rental property
Real estate funds
Real estate is commonly used for income + appreciation.
7. Gold Investment (Inflation Protection)
Many investors use gold as:
Safe-haven asset
Inflation hedge
Especially useful when currency weakens.
8. REITs (Real Estate Without Buying Land)
Invest in property indirectly
Earn rental income
No need to manage tenants
Very underrated investment.
My Personal Ranking (Smart Portfolio)
If you want balance:
30% Money Market Fund
20% Bonds / Treasury Bills
20% Dividend Stocks
15% Real Estate / REIT
10% Dollar investments
5% High-risk opportunities
This gives:
Safety
Growth
Passive income
How Does Personal Income Tax Filing Work in Imo State, Nigeria?
Yes — every state in Nigeria can have its own tax filing process, even though your TIN remains the same nationwide. Here’s the clarity: 1. TIN vs State Tax ID (Like ASIN) TIN (Tax Identification Number) — issued by Federal Inland Revenue Service (FIRS) Used across Nigeria One person = One TIN (for lRead more
Yes — every state in Nigeria can have its own tax filing process, even though your TIN remains the same nationwide.
See lessHere’s the clarity:
1. TIN vs State Tax ID (Like ASIN)
TIN (Tax Identification Number) — issued by Federal Inland Revenue Service (FIRS)
Used across Nigeria
One person = One TIN (for life)
However…
Many states also create their own internal taxpayer ID for administrative purposes.
Examples:
Anambra State Internal Revenue Service uses ASIN (Anambra State Identification Number)
Lagos State Internal Revenue Service uses LASRIN
Imo State Internal Revenue Service may generate state taxpayer ID when you register
So yes — states may have their own systems, but TIN is still the master number.
2. If You Live in Imo State — Where Should You File?
For Personal Income Tax, you file in: 👉 State where you live and work
So since you’re living in Imo: You should file with
Imo State Internal Revenue Service
Even if:
Your business is elsewhere
Your company HQ is elsewhere
Your residential state is what matters.
3. How To File in Imo State (Step-by-Step)
Step 1 — Confirm Your TIN
You already have this (good 👍)
Step 2 — Register with Imo State IRS
You may be asked for:
TIN
Phone number
Address in Imo
Occupation
Email
They may generate Imo taxpayer ID for you.
Step 3 — File Your Annual Return
Deadline: 📅 Usually March 31 every year (for individuals)
You submit:
Income details
Business income (if any)
Salary income (if any)
4. Important (Since You Often Ask About Salary + Business)
Because you previously mentioned:
Salary income
Business income
You must declare both when filing in Imo State.
Even if:
PAYE already deducted from salary
You still must file annual return.
(This is very important — many people miss this.)
Quick Summary
TIN = National (used everywhere)
ASIN = State-specific (Anambra example)
Imo may issue its own ID
File tax where you live (Imo)
How Can I Recover My Late Father’s Unclaimed Dividends in Nigeria?
This situation is very common in Nigeria, and the good news is: your father's dividends and shares can still be recovered, even after many years. Let’s break it down step-by-step. Step 1: Confirm the Shares Still Exist Since you mentioned Oando Plc, the first step is to contact the company's registrRead more
This situation is very common in Nigeria, and the good news is: your father’s dividends and shares can still be recovered, even after many years.
See lessLet’s break it down step-by-step.
Step 1: Confirm the Shares Still Exist
Since you mentioned Oando Plc, the first step is to contact the company’s registrar.
Oando Plc’s registrar is usually:
First Registrars and Investor Services Limited
The registrar keeps records of:
Number of shares
Unclaimed dividends
Next of kin (if available)
Shareholder address
Step 2: Gather Basic Information
Before contacting them, try to get:
Father’s full name
Old home address (very important)
Approximate year he bought shares
Any old dividend letters (if available)
Any share certificate (if available)
Even if you don’t have documents, they can still trace using name + address.
Step 3: Since Your Father Is Deceased (Important Step)
Because your father passed away in 2011, you must legally claim the shares as beneficiaries.
You will need:
Required Documents
Death certificate
Letter of Administration (if no will)
Valid ID of beneficiaries
Passport photographs
Birth certificate (to prove relationship)
Step 4: Apply for Letter of Administration
Since you said:
Your father had no bank account
No will mentioned
You will likely need Letter of Administration from the Probate Registry at the High Court.
This gives you legal authority to claim:
Shares
Dividends
Other investments
Step 5: Check Unclaimed Dividend Portal (Very Important)
Also check:
Securities and Exchange Commission Nigeria
Central Securities Clearing System Plc
They help track:
Unclaimed dividends
Dormant shares
Registrar information
Why Dividends Stopped Coming
This usually happens when:
Address changed
Dividend became electronic (e-dividend)
Shares moved to CSCS account
Mail stopped being delivered
So the money did not disappear — it’s still there.
Important Tip (Very Important)
Because it’s over 16–18 years, your father may have:
Bonus shares
Rights issues
Increased share value
Accumulated dividends
The value may be much higher now 📈
If you’re comfortable sharing:
Your father’s name (or initials)
Any company name you remember (besides Oando)
I can help you trace it step-by-step.
Do NIDF Dividend Payments Depend on When You Invest in Nigeria?
Short answer: No — you will NOT receive the same dividend. Dividend from NIDF depends on how many units you hold on the qualification date, not how long you held them. Let me break it down clearly: How Dividend Works (Very Important) For dividend payment, there are 3 key dates: Qualification Date (CRead more
Short answer: No — you will NOT receive the same dividend.
See lessDividend from NIDF depends on how many units you hold on the qualification date, not how long you held them.
Let me break it down clearly:
How Dividend Works (Very Important)
For dividend payment, there are 3 key dates:
Qualification Date (Closure Date) → Only investors holding shares before this date qualify
Ex-Dividend Date → If you buy after this, you won’t get dividend
Payment Date → When money is paid
👉 Dividend is based on how many units you hold, not how many months you held.
Your Example Explained
Let’s assume:
You invested ₦1,000,000 3 months before dividend
Another person invested ₦1,000,000 1 month before dividend
Both held till qualification date
Result:
You both receive same dividend (because same units held)
But Here’s What Most People Miss
If NIDF price rises before dividend:
You invested 3 months earlier → You likely bought cheaper
The other person invested 1 month earlier → Likely bought more expensive
So:
You may hold more units
Therefore you receive more dividend
Example:
Investor
Price per Unit
Amount
Units
You (3 months earlier)
₦100
₦1,000,000
10,000 units
Person (1 month earlier)
₦120
₦1,000,000
8,333 units
Dividend = ₦5 per unit
You = ₦50,000
Person = ₦41,665
So earlier investors often earn more.
About The Strategy You Mentioned
“Withdraw after dividend → Invest in MMM → Return before dividend”
⚠️ This is very risky:
MMM Global is a Ponzi scheme (collapsed before in Nigeria)
You may lose capital completely
You may miss qualification date
NIDF price may rise while you’re out
This strategy is called Dividend Capture Strategy — but it doesn’t always work.
Why? After dividend:
Share price usually drops by dividend amount
So you may gain dividend but lose in price.
My Practical Advice (Safer Approach)
With funds like NIDF:
Hold long-term
Reinvest dividend
Allow compounding 📈
This is typically more stable and profitable.
How Can I Claim Unclaimed Shares of a Deceased Person in Nigeria?
When shares of a deceased person remain unclaimed (especially for 30+ years), the first step is to determine who was listed as the Next of Kin or nominee when your father bought the shares. Here is the step-by-step process in Nigeria: Step 1: Locate Any Old Share Documents Look for: Share certificatRead more
When shares of a deceased person remain unclaimed (especially for 30+ years), the first step is to determine who was listed as the Next of Kin or nominee when your father bought the shares.
See lessHere is the step-by-step process in Nigeria:
Step 1: Locate Any Old Share Documents
Look for:
Share certificates
Dividend warrants (old dividend cheques)
CSCS statements
Purchase receipts
Broker statements
These documents usually contain:
Shareholder name
Company name
Registrar name
Shareholder account number (very important)
Step 2: Contact the Company Registrar
Every company has a Registrar that manages shareholders’ records.
Examples in Nigeria include:
First Registrars and Investor Services Limited
Meristem Registrars and Probate Services Limited
Coronation Registrars Limited
Africa Prudential Plc
Tell them:
Your father’s full name
Approximate year shares were bought
Company name
They will check:
Next of kin (if listed)
Number of shares
Unclaimed dividends
Step 3: If No Next of Kin Was Listed
This is very common (especially 30+ years ago).
Then you will need:
Required Documents
Usually:
Death certificate of your father
Letter of administration OR probate
Valid ID of beneficiaries
Passport photographs
Birth certificate (to prove relationship)
Step 4: Get Letter of Administration (If No Will)
If your father did not leave a will, you must apply for:
Letter of Administration from the Probate Registry (High Court in your state)
This legally allows you to claim:
Shares
Bank accounts
Other investments
Step 5: Check Unclaimed Dividends Portal (Very Important)
You can also search via:
Securities and Exchange Commission Nigeria (SEC Nigeria)
Central Securities Clearing System Plc (CSCS)
These help trace:
Unclaimed shares
Dividends
Registrar details
Quick Summary
To know the next of kin:
Check old share documents
Contact the company registrar
If none listed → apply for Letter of Administration
Since it’s 30+ years, there’s a very good chance:
There may be bonus shares
There may be unclaimed dividends
Value may have grown significantly 📈
This happens often in Nigeria.
What Is the Difference Between Federal and State Tax in Nigeria (FIRS vs State Internal Revenue Service)?
The difference between filing taxable income with Federal Inland Revenue Service (FIRS) and State Internal Revenue Service (State IRS) depends mainly on who you are and the type of income. Here’s the clear breakdown 👇 1. FIRS (Federal Tax) 🇳🇬 You file with FIRS if you are: Individuals Employees of FRead more
The difference between filing taxable income with Federal Inland Revenue Service (FIRS) and State Internal Revenue Service (State IRS) depends mainly on who you are and the type of income.
Here’s the clear breakdown 👇
1. FIRS (Federal Tax) 🇳🇬
You file with FIRS if you are:
Individuals
Employees of Federal Government
Armed forces, police, immigration, etc.
Staff of Foreign embassies
Nigerians working abroad but resident in Nigeria
Residents of FCT Abuja
Companies
All Companies registered in Nigeria (Limited Liability Companies)
Taxes handled by FIRS
Companies Income Tax (CIT)
Value Added Tax (VAT)
Withholding Tax (Companies)
Education Tax
Petroleum Profit Tax
Capital Gains Tax (Companies)
2. State IRS (State Tax)
You file with State Internal Revenue Service if you are:
Individuals
Salary earners (Private company staff)
Business owners (sole proprietor)
Professionals (consultants, freelancers)
Self-employed persons
Example:
If you live/work in Lagos → file with Lagos State IRS
If you live/work in Rivers → file with Rivers State IRS
Taxes handled by State IRS
Personal Income Tax (PIT)
PAYE (Salary earners)
Direct Assessment (Business owners)
Capital Gains Tax (Individuals)
Simple Rule to Remember 🧠
If You Are
File With
Company (Ltd)
FIRS
Salary earner (Private Company)
State IRS
Business Owner (Individual)
State IRS
Federal Government Staff
FIRS
Abuja Resident
FIRS
Your Case (Based on your previous questions)
Since you mentioned:
Salary (PAYE deducted)
Running a business
You may need to:
File Personal Income Tax with your State IRS
Declare both salary + business income
Important Tip ⚠️
Even if PAYE is deducted from salary:
You still may need to file annual tax return with State IRS
See lessWhat is Nacho performance in 2025?
Here is the NAHCO Plc (Nigerian Aviation Handling Company) 2025 Financial Performance summary: NAHCO Financial Performance — 2025 📊 Full-Year 2025 Results (Strong Growth) Revenue (2025): ₦65.21 billion Revenue (2024): ₦53.54 billion Revenue Growth: +21.8% Net Profit (2025): ₦18.01 billion Net ProfitRead more
Here is the NAHCO Plc (Nigerian Aviation Handling Company) 2025 Financial Performance summary:
NAHCO Financial Performance — 2025 📊
Full-Year 2025 Results (Strong Growth)
Revenue (2025): ₦65.21 billion
Revenue (2024): ₦53.54 billion
Revenue Growth: +21.8%
Net Profit (2025): ₦18.01 billion
Net Profit (2024): ₦12.86 billion
Profit Growth: +40%
Profit Before Tax: ₦24.26 billion
EPS (2025): ₦9.24
EPS (2024): ₦6.60
EPS Growth: +40%
👉 This shows very strong earnings growth in 2025.
2025 Performance Breakdown (Quarterly Growth)
H1 2025
Revenue: ₦32.33 billion
Profit: ₦8.88 billion
Profit Growth: +166% YoY
9-Month 2025
Revenue: ₦47.76 billion
Profit: ₦13.46 billion
Growth: +47% profit increase
What Drove NAHCO Growth in 2025 🚀
Main drivers:
Increase in cargo handling (major revenue contributor)
Growth in airline traffic
New aviation contracts
Operational efficiency & digitization
Investment View (Simple Interpretation)
Positives ✅
Strong revenue growth
Strong profit growth
Rising EPS
Aviation sector recovery
Growing dividend potential
Risks ⚠️
Working capital pressure
Aviation sector sensitive to economy
Inflation impact on costs
Simple Verdict
NAHCO 2025 performance = Very Strong 📈
Growth stock
Improving profitability
Dividend potential improving
Since you’ve been asking about stocks and investments recently, here’s the quick investor takeaway:
👉 NAHCO is currently one of the stronger mid-cap stocks on NGX (2025 performance wise).
See lessDo Employees Paying PAYE in Nigeria Need to File Tax Returns or Submit Proof of Deduction?
If you are a company worker in Nigeria (including the South-South region) and PAYE is already deducted from your salary, here's how it works: Do You Need to Submit Evidence for PAYE? Yes — but only in some situations. 1. Normally (Most Employees) If your employer deducts PAYE monthly and remits to tRead more
If you are a company worker in Nigeria (including the South-South region) and PAYE is already deducted from your salary, here’s how it works:
Do You Need to Submit Evidence for PAYE?
Yes — but only in some situations.
1. Normally (Most Employees)
If your employer deducts PAYE monthly and remits to the tax authority like:
Rivers State Internal Revenue Service
Akwa Ibom State Internal Revenue Service
Delta State Internal Revenue Service
Edo State Internal Revenue Service
Then:
You usually don’t need to submit evidence yourself
Your employer handles everything 👍
2. When You MUST Submit Evidence
You may need to submit evidence if:
You’re filing annual tax return yourself
You’re applying for Tax Clearance Certificate (TCC)
You’re changing jobs
You’re applying for loan, visa, contract, government work
Your employer did not remit your PAYE properly
In these cases, you submit:
Evidence to Submit
Usually any of these:
PAYE Deduction Schedule from employer
Payslips showing tax deduction
Tax Card (if available)
Employer Tax Confirmation Letter
Tax Clearance Certificate (TCC)
Very Important ⚠️
Some companies deduct PAYE but don’t remit it.
To avoid problems:
Always request your Tax Clearance Certificate yearly
Or confirm from your State Internal Revenue Service
Best Practice (Recommended)
Even if PAYE is deducted:
You should still file your annual tax return (very important in Nigeria now)
This protects you legally and helps you with:
Loans
Visa
Contracts
Business registration
See less