Nigeria's tax architecture has changed but some employer payroll systems have not caught up. The Nigeria Tax Act 2025 and the Nigeria Tax Administration Act 2025 took effect on 1 January 2026 and redefined significant aspects of how PAYE operates; from a new six-band tax structure, to changes affecting gratuity, NHF deductions, severance benefits, and others. If your payroll system has not been updated to reflect these changes, every pay slip generated since 1 January 2026 has been based on outdated systems, exposing your organization to compliance risk and penalties. This article examines what employers need to do to bridge the gap in light of the new tax law regime.
Samuel is a Partner in the Corporate and Capital Markets practice and also co-heads the IPT and Employment and Global Mobility sectors at Olajide Oyewole LLP. He has about two decades of commercial law experience.
He provides general corporate representation to various established and emerging businesses including, a broad pool of public companies, closely-held businesses and international subsidiaries. Samuel advises on a wide range of corporate legal issues including: corporate finance, company re-organization and corporate restructuring, private equity investments and corporate acquisitions among other complex multidisciplinary corporate advisory services, the negotiation of strategic alliances, the formation and financing of start-up companies, business succession planning, as well as structuring, negotiating and documenting a vast array of related organizational transactions.
Samuel has also worked in the financial services sector where he was responsible for establishing monitoring and compliance frameworks for mutual funds managers, municipal bonds issuers, setting up contractual and monitoring frameworks for subnational sovereign wealth funds, reviewing and negotiating syndicated lending security agreements, and reviewing and negotiating capital market offer documents, among other responsibilities.
Experience has included advising:
- Mavin Records Limited in negotiating an investment deal with Kupanda Capital
- Nampak International Limited, Nampak Cartons Nigeria Limited and Nampak Properties Nigeria Limited, with respect to the acquisition of its entire equity stake in the target companies
- Idaresit Limited (the vendor) and Wild Fusion Limited (the target company) with respect to the acquisition of 25.05% of the vendor’s equity stake in the target company
- A fintech company on its USD5 million series A funding round
- A consumer goods group of companies on the restructuring involving spin-offs, assets transfers and arrangements among shareholders
- Various clients in drafting sundry joint venture agreements, complex memorandum and articles of association and shareholders agreements
- Various clients in preparing documentations for obtaining the approval of the National Office of Technology Acquisition and Promotion for technology transfer agreements
- A corporate client including setting up the data room for due diligence in a USD20 million foreign direct investment transaction; also worked as part of legal team responding to the investor’s queries and providing legal advice to the client at every stage of the transaction
- The acquirer in a proposed merger and acquisition schemes involving two facilities management companies
- A telecommunications company at various stages of the acquisition of its license
Professional Qualifications
- Legal practitioner admitted to the Nigerian Bar (2003)
Education
- University of Glasgow, Scotland (2008)
- University of Ibadan, Nigeria (2001)
Recognition
- Notable Practitioner in IFLR1000 (2023)
- "Samuel Salako is very hands-on, pays attention to details and is very responsive." - Chambers & Partners Global Guide 2023
- "I was very impressed with Samuel. He is highly knowledgeable, responsive and a firm negotiator on behalf of his client." - Chambers & Partners Global Guide 2023
- "Thought process and positive disposition to challenging issues." - IFLR1000 (2022)
- "He is accessible, very professional and resourceful." - IFLR1000 (2022)
- "Samuel Salako is very hands-on, pays attention to details and is very responsive." - Chambers & Partners Global Guide 2023
- Commended for client service in IFLR1000 (2018)
Prior Experience
- 2011 to present, Partner, Olajide Oyewole LLP, DLA Piper Africa member firm in Nigeria
- 2010 to 2013, Assistant Manager 1 (Public Trust), First Trustees Nigeria Limited
- 2004 to 2010, Solicitor / Counsel, Olajide Oyewole LLP, DLA Piper Africa member firm in Nigeria
- 2003 to 2004, Solicitor and Barrister, Lagos-based law firm
- 2003, Intern / Solicitor, Lagos-based law firm
Memberships
- Nigerian Bar Association