The days that civil servants do filed Tax Return Papers is over.

In Nigeria, it ended under the General Ibrahim Babaginder Government.

But nowadays, competent Internal Revenue Staff filed the returns on behave of each Ministry, Department, and Agency (MDA).

All the names of Government employees are requested by Internal Revenue from MDA to make the returns.

Each MDA is conversant with the names, rank, salary, of their Officers and the computation for tax returns are made by IRS Officers stationed in each MDA, and submitted it the IRS.

This saves individual Ministry personnel too much inconvenience.

I hope you found this helpful.

Thank you so much.

Yes, certain banks like the Union Bank of Nigeria, Plc will give you a loan, provide you are a customer of the bank.

Sorry, it is a pity that you do not tell here the sum you want to borrow.

You have to agreed to the bank’s terms and policy statement.

Ask yourself have you borrowed from the bank before? Did you pay off the loan. What do you used as back up back then? Monthly salary or monthly pension?

And if your past record looks clean, you will be given the loan you want for say 3 to 5 years period.

Thank you so far.

To invest over N50,000,000.00 in the Federal Government of Nigeria Savings Bond is worthwhile.

It is not risky, provide you still have more money, say emergency funds aside to handle your weekly expenses. Again, it is not risky if you are still on your regular job.

Federal Government of Nigeria Savings Bond, can be short time or long time. It is usually 2 to 3 years in tenure.

But quarterly interests will be paid to you regularly. And at the end of the tenure say 2 or 3 years, your principal or original sum of money (here the N5Million), is returned.

What is more? All your earnings are taxe free!

So investing N5MILLION in the FGN Savings Bond is worthwhile.

Contact your bankers if their can provide the application form for you.

Otherwise, go to Stabic ibtc bank, and open a savings account with them.

And during the first week of the Month (between first Monday and Friday), the application is open.

Now go to Stabic ibtc bank. Tell them you want to buy the FGN Savings Bond. Their give you form online to fill. They will tell you how to transfer the N50Million to buy the FGN Government of Nigeria Savings Bond.

But one thing you must not overlooked is that all your personal details in your new Stabic ibtc bank and the bank your N50MILLION is must match.

Otherwise, the debt Management Office, will rejected your money and reverted it back to the account you transfer it from.

I have not tried buy the FGN Savings Bond with any stock brokers Applications like the InvestNaija or Bamboo.

Any quarterly interests you can invest in Money Market Mutual Funds and gain more interest or money.

Thank you.

A sole ownership and limited liability company are two different things or businesses.

The first as own by you and manage by you and your family is easy.

In effect, it is easy here to infer that you are the Managing Director.

What roles your subordinate family holds is not known.

It can also be inferred you provide all the finances or it is jointly financed by you and your family, you contributing the majority.

If you have experience in businesses, this sole proprietorship will success.

You and your family reap all the benefits.

The advantage is that no one outside your circle knows how much the sole proprietorship earns monthly or annually.

The other advantage is you do not fill tax form.

But all these are now (from 2026) past history.

The Federal Government of Nigeria, is now wading into every business matter that is profit bent.

So tax forms has to be filled.

You have to access how much you will pay. Incentives were made available, and have huge advantages. For example, tax holiday. A sole proprietor can not benefit from a tax holiday, but a big limited liability company can, especially if it is nearly formed.

If you do not fill tax return form, Government has to access you to your regret. Whatever government says you pay, is your regret.

Getting big loans say N10,000,000.00 from Commercial Banks is not easy for a one man business. If you die, will your family members paid back the loan? Every commercial banks have this in mind. And since, ownership is not separate, banks do not give sole proprietorship loans.

But big limited liability companies will take advantage of a loan of N100,000,000.00.

This is because the company is separate from ownership.

If the Managing Director dies, the company still moves on. Because the Managing Director is not the owner of the company. Big companies are publicly owned. So they stay put in every scenario, except a Court ordered it be wind down.

This is why Iking Ferry, is saying that nowadays, limited liability companies are in a much advantageous position than the one man business.

If you think otherwise, look around you. Where are the sole proprietorship before you wade into the business? Where is they businesses heading? They are probably extinct.