Key points:
- Akin Akinwale shares a short tax note on X. He says reality-show prizes are taxable income.
- He mentions personal income tax through state revenue offices. He adds that organisers may deduct withholding tax.
- He notes company claims do not shield the winner. The recipient still has personal tax duties.
Tax consultant Akin Akinwale has weighed in on Imisi’s win. He says the ₦150 million prize is not tax-free. His post on X answered common fan questions. It also set out how authorities may assess the income.
Akinwale wrote that rewards like cash, a car, or a house count as income. He said the rule flows from the Personal Income Tax Act. In his words, winnings are “considered income and therefore taxable”. He urged winners to plan early and comply.
What the tax law says
The consultant said prizes may attract Personal Income Tax. Collection is usually done by the winner’s State Internal Revenue Service. The Federal Inland Revenue Service steps in for non-residents. Exact liability depends on status, reliefs, and other earnings.
According to Akinwale, organisers may also deduct Withholding Tax. That is an advance payment against the winner’s final bill. It is then set off when the tax authority computes the return. Final liability still rests with the winner.
He added another key point on company claims. If a registered firm funds the cash prize, it may book the payout. The firm can treat it as a marketing or promo expense. That helps the company’s own tax position under company tax rules. However, this “does not exempt the recipient” from duties.
Fans have asked how much Imisi might pay. Akinwale did not quote figures or rates. He kept the note at rule level and scope. The true bill will depend on reliefs and state rules.
Debate around the finale has stayed loud online. Some fans still argue over votes and outcomes. Earlier, Ossai Ovie Success rigging claim added to the chatter. Money matters now take centre stage for the winner.
Public voices often spark culture talk during big shows. That happened again this week across apps. A recent Daddy Freeze church rejection story also drew strong views. Imisi’s tax path will now move from social feeds to forms.
How much could Imisi pay
Only the revenue office can give a clear figure. It will review her residency and personal details. It will apply reliefs allowed by law. It will then net off any tax withheld at source.
Winners are urged to keep records and seek advice. Early filing helps avoid stress and penalties. It also keeps brand deals on a sound track. That step matters as post-show gigs start to roll in.
