Drawing from his over 16 years of business experience and management roots from the Big Four, Abiola provides overall leadership for the Company. Prior to joining PML Advisory, Abiola worked at KPMG and rose to the position of Manager before joining IFRS Partner Limited (a subsidiary of Issues Central Inc. Canada) as Senior Consultant.
Abiola has extensive experience in audit, International Financial Reporting Standards, risk management, accounting services, financial advisory, process improvement and business development working with clients in banking, insurance, assets management, pension, private equity fund, funds, NGOs/donor agencies and regulators. A goal getter with passion for quality and results.
Abiola focuses on the Company’s strategic vision, product development and leads a high-caliber team and consultant base, primarily made up of Big Four professionals with choice credentials and substantial industry experience. Outside his Big 4 global working experience, he has acquired vast experience working with PML Advisory partners across the globe.
Abiola is a member of the Institute of Chartered Accountants of Nigeria and a Certified Information System Auditor. He holds a Bachelor of Agriculture Degree from Obafemi Awolowo University, Ile- Ife, sun State.
Every financial service e.g, banks, insurance, stock-broking and others shall or will ensure every taxable person provides tax ID.
Every person that makes or has source of income and is of taxable age must be able to provide the tax ID, it is used to to track the flow of funds and how much the person is able to generate.
The uses of a Tax ID
– Legal and business compliance: A business, company or an organization cannot legally operate a formal business or register (with the CAC in Nigeria) without eventually linking the business name to TIN (Tax Identification Number).
– Filing Obligations: You cannot legally file annual tax returns or pay personal/corporate income tax without a TIN.
– Avoiding Penalties: Operating a business or earning a significant income without a TIN can lead to audits, fines, or legal action for tax evasion.
– Tax Identification Number: It allows the government to uniquely identify taxpayers and link them to their tax records, much like a social security number or a national ID.
– Opening Accounts: Most commercial banks require a TIN to open business accounts and, increasingly, high-tier personal accounts.
– Loans and Credit: Financial institutions use your tax history (linked to your TIN) to verify income and assess creditworthiness. Before securing a mortgage or a business expansion loan is nearly impossible.
– Government Contracts: To bid for government tenders or contracts, a Tax Clearance Certificate (TCC) is usually required, which can only be issued if you have a valid TIN and a clean tax record.
– Import and Export: If you are involved in international trade, a TIN is required to clear goods through customs and obtain necessary shipping licenses.
– Invoicing and VAT: To legally charge and remit Value Added Tax (VAT), a business must be registered with a TIN.
– Asset Registration: In many countries, you cannot register a vehicle, purchase land, or obtain a Certificate of Occupancy without providing a TIN.
– Foreign Exchange: Accessing official foreign exchange markets or transferring large sums of money internationally often requires tax identification for anti-money laundering (AML) compliance.
– Professional Licenses: Many professional bodies require a TIN before issuing or renewing licenses to practice (e.g., in law, accounting, or medicine).
– Social Safety Nets: During crises, governments often distribute subsidies, grants, or relief packages. Having a registered TIN makes you eligible for these formal support systems.
– Refunds: If you overpay your taxes or are eligible for tax credits, the government uses your TIN to process and issue your refund.
