Top Choice Express Solutions

08/02/2026

25/01/2026

Tax Update:

The lagos state internal Revenue Service(LIRS) issued a public notice(January,2026) making the use of Tax identification number mandatory for all official,financial and government related transactions.
What does this mean?

TIN must appear on:
1.All tax returns,notices,letters and official correspondence else such correspondence become invalid.
2.Financial and transaction documents.
3.Contracts and engagement with any federal,state or local government MDA.

For banks and other financial institutions,no transaction or account should be initiated or maintained without a valid tax ID.

25/01/2026

📢 ANNUAL PAYE FILING NOTICE

In line with the provisions of the Nigerian Tax Act, all employers are required to file their Annual PAYE Returns on or before 31st January of each year.

This filing covers:
• Total emoluments paid to employees
• PAYE taxes deducted and remitted
• Relevant employee tax details for the preceding year

⏰ Timeline: On or before 31st January
⚠️ Late or non-filing may attract penalties and regulatory sanctions.

We encourage employers and business owners to ensure timely compliance to avoid unnecessary exposure.

For professional support and guidance on PAYE filing and other tax obligations, feel free to reach out.

Ojielo Chukwunonso & Partners
(Chartered Accountants & Tax Consultants)

Chukwunonso Gerald Ojielo

19/01/2026

This is to inform the general public that applications are now open for the 2026/2027 PTDF Overseas Postgraduate Scholarship Scheme.

The application portal opened on Friday, 16 January 2026, and will remain open for six (6) weeks, closing on Friday, 27 February 2026.

Qualified Nigerians are encouraged to apply.

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18/01/2026

Businesses must strengthen VAT documentation, reporting, and remittance processes to avoid penalties and compliance issues.


Chukwunonso Gerald Ojielo

14/01/2026

*100 Excel Shortcut Keys*

1. Ctrl + N: To create a new workbook.
2. Ctrl + O: To open a saved workbook.
3. Ctrl + S: To save a workbook.
4. Ctrl + A: To select all the contents in a workbook.
5. Ctrl + B: To turn highlighted cells bold.
6. Ctrl + C: To copy cells that are highlighted.
7. Ctrl + D: To fill the selected cell with the content of the cell right above.
8. Ctrl + F: To search for anything in a workbook.
9. Ctrl + G: To jump to a certain area with a single command.
10. Ctrl + H: To find and replace cell contents.
11. Ctrl + I: To italicise cell contents.
12. Ctrl + K: To insert a hyperlink in a cell.
13. Ctrl + L: To open the create table dialog box.
14. Ctrl + P: To print a workbook.
15. Ctrl + R: To fill the selected cell with the content of the cell on the left.
16. Ctrl + U: To underline highlighted cells.
17. Ctrl + V: To paste anything that was copied.
18. Ctrl + W: To close your current workbook.
19. Ctrl + Z: To undo the last action.
20. Ctrl + 1: To format the cell contents.
21. Ctrl + 5: To put a strikethrough in a cell.
22. Ctrl + 8: To show the outline symbols.
23. Ctrl + 9: To hide a row.
24. Ctrl + 0: To hide a column.
25. Ctrl + Shift + :: To enter the current time in a cell.
26. Ctrl + ;: To enter the current date in a cell.
27. Ctrl + `: To change the view from displaying cell values to formulas.
28. Ctrl + ‘: To copy the formula from the cell above.
29. Ctrl + -: To delete columns or rows.
30. Ctrl + Shift + =: To insert columns and rows.
31. Ctrl + Shift + ~: To switch between displaying Excel formulas or their values in cell.
32. Ctrl + Shift + @: To apply time formatting.
33. Ctrl + Shift + !: To apply comma formatting.
34. Ctrl + Shift + $: To apply currency formatting.
35. Ctrl + Shift + #: To apply date formatting.
36. Ctrl + Shift + %: To apply percentage formatting.
37. Ctrl + Shift + &: To place borders around the selected cells.
38. Ctrl + Shift + _: To remove a border.
39. Ctrl + -: To delete a selected row or column.
40. Ctrl + Spacebar: To select an entire column.
41. Ctrl + Shift + Spacebar: To select an entire workbook.
42. Ctrl + Home: To redirect to cell A1.
43. Ctrl + Shift + Tab: To switch to the previous workbook.
44. Ctrl + Shift + F: To open the fonts menu under format cells.
45. Ctrl + Shift + O: To select the cells containing comments.
46. Ctrl + Drag: To drag and copy a cell or to a duplicate worksheet.
47. Ctrl + Shift + Drag: To drag and insert copy.
48. Ctrl + Up arrow: To go to the top most cell in a current column.
49. Ctrl + Down arrow: To jump to the last cell in a current column.
50. Ctrl + Right arrow: To go to the last cell in a selected row.
51. Ctrl + Left arrow: To jump back to the first cell in a selected row.
52. Ctrl + End: To go to the last cell in a workbook.
53. Alt + Page down: To move the screen towards the right.
54. Alt + Page Up: To move the screen towards the left.
55. Ctrl + F2: To open the print preview window.
56. Ctrl + F1: To expand or collapse the ribbon.
57. Alt: To open the access keys.
58. Tab: Move to the next cell.
59. Alt + F + T: To open the options.
60. Alt + Down arrow: To activate filters for cells.
61. F2: To edit a cell.
62. F3: To paste a cell name if the cells have been named.
63. Shift + F2: To add or edit a cell comment.
64. Alt + H + H: To select a fill colour.
65. Alt + H + B: To add a border.
66. Ctrl + 9: To hide the selected rows.
67. Ctrl + 0: To hide the selected columns.
68. Esc: To cancel an entry.
69. Enter: To complete the entry in a cell and move to the next one.
70. Shift + Right arrow: To extend the cell selection to the right.
71. Shift + Left arrow: To extend the cell selection to the left.
72. Shift + Space: To select the entire row.
73. Page up/ down: To move the screen up or down.
74. Alt + H: To go to the Home tab in Ribbon.
75. Alt + N: To go to the Insert tab in Ribbon.

76. Alt + P: To go to the Page Layout tab in Ribbon.
77. Alt + M: To go to the Formulas tab in Ribbon.
78. Alt + A: To go to the Data tab in Ribbon.
79. Alt + R: To go to the Review tab in Ribbon.
80. Alt + W: To go to the View tab in Ribbon.
81. Alt + Y: To open the Help tab in Ribbon.
82. Alt + Q: To quickly jump to search.
83. Alt + Enter: To start a new line in a current cell.
84. Shift + F3: To open the Insert function dialog box.
85. F9: To calculate workbooks.
86. Shift + F9: To calculate an active workbook.
87. Ctrl + Alt + F9: To force calculate all workbooks.
88. Ctrl + F3: To open the name manager.
89. Ctrl + Shift + F3: To create names from values in rows and columns.
90. Ctrl + Alt + +: To zoom in inside a workbook.
91. Ctrl + Alt +: To zoom out inside a workbook.
92. Alt + 1: To turn on Autosave.
93. Alt + 2: To save a workbook.
94. Alt + F + E: To export your workbook.
95. Alt + F + Z: To share your workbook.
96. Alt + F + C: To close and save your workbook.
97. Alt or F11: To turn key tips on or off.
98. Alt + Y + W: To know what's new in Microsoft Excel.
99. F1: To open Microsoft Excel help.
100. Ctrl + F4: To close Microsoft Excel.

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13/01/2026

To the glory of God, I recently prepared cash flow projections for two different businesses:

• A mini-grid construction company seeking a grant for project ex*****on from World bank.

• A manufacturing company applying for loan support from a financial institution.

I’m pleased to share that both applications were successful.

This is a clear example of the power of Finance & Business Partnering—where strategy, structure, and numbers speak the right language to funders.

Need structured financial support that delivers results?
📞 Contact us_07038433836





Chukwunonso Gerald Ojielo

13/01/2026

BREAKING NEWS:

The 2026 Budget allocation by Ministries, Departments, and Agencies (MDAs):

1. Presidency → ₦355,100,320,721
2. National Assembly → ₦344,852,880,669
3. Ministry of Defence → ₦3,154,393,400,291
4. Ministry of Foreign Affairs → ₦344,235,906,716
5. Federal Ministry of Information and National Orientation → ₦98,163,122,322
6. Ministry of Interior → ₦696,416,792,599
7. Office of the Head of the Civil Service of the Federation → ₦26,942,251,897
8. Auditor General for the Federation → ₦15,881,134,488
9. Public Complaints Commission → ₦29,460,000,000
10. Federal Civil Service Commission → ₦2,604,702,873
11. Independent National Electoral Commission → ₦1,013,778,401,602
12. Federal Character Commission → ₦6,531,190,463
13. Federal Ministry of Police Affairs → ₦1,329,461,895,087
14. Federal Ministry of Communications and Digital Economy → ₦84,560,421,789
15. National Security Adviser → ₦664,119,740,541
16. Code of Conduct Tribunal → ₦2,370,626,414
17. Infrastructure Concession Regulatory Commission → ₦2,780,925,426
18. Police Service Commission → ₦2,397,074,830
19. Secretary to the Government of the Federation → ₦293,021,567,646
20. Federal Ministry of Special Duties & Inter-Governmental Affairs → ₦13,781,104,156
21. Federal Ministry of Agriculture and Food Security → ₦1,447,973,604,421
22. Federal Ministry of Finance → ₦16,781,272,498,002
23. Federal Ministry of Industry, Trade and Investment → ₦87,436,249,085
24. Federal Ministry of Labour and Employment → ₦183,572,952,990
25. Federal Ministry of Science, Technology and Innovation → ₦838,674,080,349
26. Federal Ministry of Transport → ₦431,798,285,025
27. Federal Ministry of Aviation and Aerospace → ₦88,209,964,483
28. Federal Ministry of Power → ₦1,107,103,148,958
29. Ministry of Petroleum Resources → ₦71,597,986,053
30. Federal Ministry of Steel Development → ₦21,520,279,269
31. Federal Ministry of Works → ₦3,485,652,384,621
32. Federal Ministry of Budget and Economic Planning → ₦9,102,998,474,710
33. National Salaries, Incomes and Wages Commission → ₦4,683,161,168
34. Revenue Mobilisation Allocation and Fiscal Commission → ₦4,710,115,027
35. Fiscal Responsibility Commission → ₦1,991,672,502
36. Federal Ministry of Water Resources → ₦458,648,182,716
37. Federal Ministry of Housing and Urban Development → ₦105,926,305,272
38. Federal Ministry of Marine and Blue Economy → ₦149,181,952,655
39. Federal Ministry of Tourism → ₦10,417,248,347
40. Federal Ministry of Arts, Culture and Creative Economy → ₦59,882,227,219
41. Federal Ministry of Solid Minerals Development → ₦156,335,330,765
42. Federal Ministry of Livestock → ₦81,186,171,499
43. Judiciary → ₦341,625,739,236
44. Federal Ministry of Justice → ₦150,554,556,545
45. Independent Corrupt Practices and Related Offences Commission → ₦21,120,395,993
46. Code of Conduct Bureau → ₦15,748,365,861
47. Federal Capital Territory Administration → ₦460,737,525,183
48. Federal Ministry of Niger Delta → ₦1,350,964,245,478
49. National Sports Commission → ₦206,433,718,652
50. Federal Ministry of Women Affairs → ₦154,315,760,358
51. Federal Ministry of Education → ₦2,399,161,320,016
52. Federal Ministry of Health and Social Welfare → ₦2,149,385,867,131
53. Federal Ministry of Environment → ₦164,144,903,358
54. National Population Commission → ₦31,359,208,037
55. Federal Ministry of Humanitarian Affairs and Poverty Alleviation → ₦462,663,187,207
56. Federal Ministry of Youth Development → ₦518,362,661,771

08/01/2026

The great battle happens in your mind.
What are you feeding your mind?

07/01/2026

New tax law: Companies and statutory bodies to face N5m penalty for contract awarded to unregistered persons.

Companies and statutory bodies that award contracts to unregistered persons will face a N5 million administrative penalty under the new Nigeria tax law.

According to the provisions of the Nigeria Tax Administration Act, a taxable person who fails or refuses to register for tax will be liable to a penalty of N50,000 in the first month of default and N25,000 for each subsequent month the failure continues.

“A statutory body or company who awards a contract to an unregistered person, shall be liable to pay an administrative penalty of N5,000,000,” as clearly stated in the act.

The law also prescribes penalties for failure to file tax returns or for knowingly filing incomplete or inaccurate returns.

Such offenders will pay N100,000 in the first month of default and N50,000 for each subsequent month the failure persists.

Under the Act, a person who refuses to grant the relevant tax authority access to deploy technology after 30 days of receipt of the notice will be liable to a penalty of N1 million on the first day of default and N10,000 for each additional day the default continues.

“A taxable person that fails to process a taxable supply through the fiscalisation system is liable to an administrative penalty of 200,000 plus 100% of the tax due and an interest at the prevailing Central Bank of Nigeria Monetary Policy rate per annum,” the law said.

“A person who has an obligation to collect, deduct or withhold tax under the relevant tax laws, and fails to collect, deduct or withhold the tax due is liable to an administrative penalty of 40% of the amount not deducted.”

The Act also imposes a N1 million penalty on any person required to make tax attribution who fails to do so or, having made the attribution, fails to notify the relevant tax authority.

The NTAA added that a person convicted of any of the offences under this section, shall be liable to a term of imprisonment not exceeding three years, or a fine of not less than the principal amount due plus penalty of not more than 50 percent of the sum, or both.





Chukwunonso Gerald Ojielo

31/12/2025

Are All Bank Inflows Taxable? Setting the Record Straight on the New Tax Law.

There is a growing misconception and misinterpretation regarding the new tax law, particularly the notion that any bank account inflow lacking a clear description of its nature will automatically be subject to tax, whether it represents revenue or a non-revenue item.

This interpretation is incorrect. Under the tax law, a taxpayer retains the legal right and responsibility to determine and declare which transactions constitute taxable revenue and which do not. Not all bank inflows are revenue in nature, and taxation must be based on the true substance of the transaction rather than the mere presence of a credit entry in a bank account.

To be continued...




Chukwunonso Gerald Ojielo

28/12/2025

Balancing Tax Transparency and Customer Confidentiality by Financial Institutions In line With the New Tax Act.

The provision requiring financial institutions to submit quarterly returns of customers’ transactional information to tax authorities raises a fundamental question:

how can financial institutions comply with statutory tax disclosure obligations without breaching their duty of confidentiality to customers?

Financial institutions are traditionally bound by strict confidentiality principles. Customer–bank confidentiality is a cornerstone of trust in the financial system and is reinforced by banking laws, professional ethics, and data protection regulations. Customers expect that their financial affairs will not be disclosed arbitrarily or without lawful justification.

On the other hand, the quoted provision imposes a statutory obligation on banks, insurance companies, stockbroking firms, and other financial institutions to report:

Names and addresses of new customers; and
High-value transactions of existing customers exceeding ₦25 million monthly for individuals and ₦100 million monthly for corporate entities.

From a legal standpoint, the phrase “Without prejudice to section 142 of this Act” is critical. It indicates that the disclosure obligation is not intended to operate in isolation but within an existing legal framework that likely provides safeguards, limitations, and procedures for information sharing. In effect, confidentiality is not totally abolished.

What is your take on this.



Chukwunonso Gerald Ojielo