Monday, November 29

Tag: FIRS

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Ghana Team,Black Stars,Bafana Bafana,Group G,Columbus Crew,Yeni Malatyaspor,Ethopia Trip,heading,matchday,Defenders,South Africa,

It has been revealed that some residents of Anambra State, on Wednesday, observed the sit-at-home in solidarity with Nnamdi Kanu, leader of the Indigenous People of Biafra, IPOB who appeared in court earlier today, according to SaharaReporters. It was learnt that motor parks, banks, shops and markets across the major cities of Awka, Onitsha and Nnewi, were shut down. However, town service buses, like shuttle buses, Keke, motorcycles, were sighted operating on streets and compound shops were also half-door open to serve the people around the neighbourhood. A trader at Awkuzu junction, in Oyi Local Government Area of the state, Mama Opeyemi who spoke with Tribune, appealed to the Federal Government to release Nnamdi Kanu, noting that the non-indigenes were the ones suffering the mos...
VAT: You’re nothing without north, other states – Masari fires back at Wike, Sanwo-Olu
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VAT: You’re nothing without north, other states – Masari fires back at Wike, Sanwo-Olu

Katsina State Governor, Bello Masari, has criticized Lagos and Rivers States over their stance on tax revenue collection. Masari said both Rivers and Lagos States would not have huge revenues without contributions from other states. The governor described the move by both Lagos and Rivers States as a joke because they rely on the population of other states to boost their economies. “What is Lagos without the rest of Nigeria? The market Lagos is boasting of is dependent on the larger part of the country. Benin Republic has a port, Togo has a port; do they have the population to back up the ports? Without us providing the demand part, what will be Lagos? “VAT serves them and us. We provide the bulk of the market because without the rest of the states, what is Lagos or Port Harcou...
Court of Appeal stops Rivers and Lagos from collecting VAT
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Court of Appeal stops Rivers and Lagos from collecting VAT

A Court of Appeal sitting in Abuja has stopped the governments of Rivers and Lagos from collecting Value Added Taxes (VAT), pending the determination of an appeal filed by the Federal Inland Revenue Service (FIRS). The appellate court which said the order was to preserve the ‘Res’ (subject matter) of the appeal before it, gave the order on Friday September 10. This came after Attorney-General of Lagos state, Moyosore Onigbanjo informed the court of an application for the Lagos state government to be joined as a co-respondent in the appeal filed by FIRS. The three-member panel of justices of the appellate court led by Haruna Tsammani asked parties involved in the case to refrain from taking action, following a judgement by a high court which gave Riv...
Appeal Court halts Rivers, Lagos from collecting VAT
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Appeal Court halts Rivers, Lagos from collecting VAT

The Court of Appeal in Abuja has halted the Rivers State government from collecting Value Added Taxes VAT until all legal disputes relating to the matter are resolved. The court ordered that the judgment of the state high court from which the state drew authorities to collect the tax be implemented. Justice Haruna Simon Tsanami who issued the order in Abuja on Friday also directed that the law passed by Rivers State House of Assembly and assented to by Governor Nyesom Ezenwo Wike must not be implemented. The appellate court held that since parties have submitted themselves to the authorities of the court for adjudication of the matter, they must not do anything that will destroy the subject matter of the appeal. In specific terms, Justice Tsanami granted status quo ante in favo...
FIRS to introduce road tax
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FIRS to introduce road tax

The Federal Inland Revenue Service (FIRS) has said that it has sent a proposal to the federal government for a law on road tax. Executive Chairman of the agency, Mohammed Nami disclosed this during an interactive session organised by the house of representatives committee on finance on the 2022-2024 medium term expenditure framework/fiscal strategy paper (MTEF/FSP) for ministries, departments and agencies (MDAs) in Abuja on Wednesday August 18. When a member of the committee, Afolabi Olalekan asked Nami to explain what FIRS has put in place to tackle tax evasion by people in the informal sector, he responded by saying that one of the measures include the introduction of road tax. He said;   “What we have done on the informal sector at a time was try to propose what we...
FG Grants Dangote Cement ₦22.32bn Tax Credit
Business

FG Grants Dangote Cement ₦22.32bn Tax Credit

The Federal Inland Revenue Service (FIRS) has issued Dangote Cement Plc, tax credit certificates valued at ₦22.321billion. The tax credit certificates are for construction of Apapa-Oworonshoki-Ojota road in Lagos and Lokoja-Obajana-Kabba road straddling Kogi and Kwata states. While Julius Berger is handling the construction of the two federal roads, Dangote Cement Plc is providing the funding. To compensate Dangote Cement, the Federal Government has issued the company the certificates to cover for the tax that Dangote Cement would have paid. Executive Chairman of the FIRS, Muhammad Nami, represented by Coordinating Director, Tax Operations Group, Mr. Femi Oluwaniyi, gave the clarification in Abuja on Wednesday when he presented the two tax credit certificates to Dangote Cement....
How FIRS Director, Peter Hena Received N700m Cash Payment — EFCC
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How FIRS Director, Peter Hena Received N700m Cash Payment — EFCC

The Economic and Financial Crimes Commission has revealed how a former Coordinating Director of Federal Inland Revenue Service, Peter Hena, received over N700 million cash between January 2017 and December 2018. Investigations by the anti-graft agency indicated that Hena and eight others shared N4.5 billion in illegal estacodes and fraudulent Duty Tour Allowances. The Commission had last Thursday arraigned Hena on 42-count before Justice Ijeoma Ojukwu of the Federal High Court sitting in Abuja. Also arraigned were the Director of Finance ,Mohammed Auta; Amina Sidi (Finance and Account department); Umar Aduka (Internal Audit); Mbura Mustapha (Deputy Manager); Obi Malachy (Services Group); Obaje Adofu (Head of Budget); Udo-Inyang Alfred (Officer II) and Benjamin Jiya (Assistant ...
EFCC Grills Fashola Over Corruption, Demands Asset Documents
Politics

EFCC Grills Fashola Over Corruption, Demands Asset Documents

Babatunde Fashola, a top-tier member of President Muhammadu Buhari’s cabinet, has been interrogated by the EFCC over corrupt practices tied to his questionable asset declaration and an ongoing probe of Babatunde Fowler, the disgraced former chairman of the FIRS, two senior anti-graft detectives have told Peoples Gazette. Officials familiar with the works minister’s ordeal told the Gazette he was called in for questioning after detectives were tipped off about his involvement in Mr. Fowler’s loot during his days as the head of Lagos Inland Revenue Service and most recently at the FIRS. The EFCC also wrote to the Code of Conduct Bureau seeking the former Lagos governor’s asset declaration documents in order to further establish another phase of the investigation, according to a let...
We Borrow To Finance Budget Because Of Dwindling Revenues – Buhari
Politics

We Borrow To Finance Budget Because Of Dwindling Revenues – Buhari

President Muhammadu Buhari has explained that his administration has been borrowing money to finance the economy and development as a result of dwindling revenues. Speaking, virtually, on Thursday at the First National Tax Dialogue held at the Conference Hall of the State House in Abuja, President Buhari, however, tasked the Federal Inland Revenue Services (FIRS) and other relevant government agencies to explore all standard practices to boost revenue. According to him, the FIRS must ensure to plug all revenue leakages by ensuring strict compliance of tax payments by foreign companies operating in Nigeria, urging the deployment of more digital platforms and seamless connections. He noted that the tax dialogue became imperative for the administration at the moment because of th...
Senate To Bar FIRS, Customs, NBC, 57 Others From Getting Federal Allocations
Politics

Senate To Bar FIRS, Customs, NBC, 57 Others From Getting Federal Allocations

Barring any last-minute changes, the Senate is set to advise the Federal Ministry of Finance, Budget and National Planning to exclude 60 federal agencies from getting allocation from the national budget, starting from next year. The agencies include Federal Inland Revenue Service, Nigeria Customs Service, Security and Exchange Commission, National Broadcasting Commission and Oil and Gas Free Trade Zone Commission. The move, Sunday PUNCH gathered, was due to the conviction that the agencies generate enough revenue to fund their overheads and payment of salaries, and would therefore not need to be funded from the national budget. Investigations by one of our correspondents on Friday indicated that the Joint Committee on Finance and National Planning had concluded plans to inclu...
Stamp Duty War: NIPOST Tackles FIRS Again
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Stamp Duty War: NIPOST Tackles FIRS Again

The Nigeria Postal Service (NIPOST) has said the Federal Inland Revenue Service (FIRS) lied about NIPOST’s stamp duty account with the Central Bank of Nigeria (CBN). NIPOST’s General Manager Corporate Communications, Franklin Alao, said in a statement on Sunday that the NIPOST’s account with the CBN was duly opened for the purpose of stamp duty and was not illegal. “Nigerian Postal Service (NIPOST) attention has been drawn to a publication by the Federal Inland Revenue Service (FIRS) that NIPOST operated an illegal stamp duty account. According to the publication, the Director of Communication and Liaison of FIRS made the statement in a series of tweets. “We hereby state categorically that the statement is false and was made to misinform and mislead members of the public,” Al...
FIRS To Digitally Verify Taxes Paid By Telecoms Operators
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FIRS To Digitally Verify Taxes Paid By Telecoms Operators

In line with its inter-agency collaboration, the Nigerian Communications Commission (NCC) has signed a Memorandum of Understanding (MoU) with the Federal Inland Revenue Service (FIRS) to ensure the tax agency ascertain accuracy and completeness of value-added tax (VAT) elements and other taxes payable in the transactions of telecoms operators. With the MoU, the FIRS will be able to integrate an application programming interface (API) technology solution with the systems of telecom Operators for independent verification of the amount of VAT that should be paid by mobile network operators (MNO) rather than relying entirely on the Operators’ books of accounts. According to him, “Our concern, as Regulator of the telecoms industry, is that we needed to be sure that it is not another w...
FIRS Stops Scores Recruited By Ex Chairman, Fowler From Resuming
Politics

FIRS Stops Scores Recruited By Ex Chairman, Fowler From Resuming

Hundreds of Nigerians who were given letters of employment by the immediate past Chairman of the Federal Inland Revenue Service, Mr. Babatunde Fowler, have not been allowed to resume over six months after they received the letterst. It was learnt that some of those affected had already resigned from their previous places of work after receiving the letters of employment only to be rendered jobless afterwards. A copy of one of the letters signed on behalf of Fowler by the Director, Human Capital Management Department, Victor Ekundayo, stated that the candidates had been interviewed by the management of the agency and had been offered employment. It read in part, “Further to your recent interview with the Federal Inland Revenue Service, you have been offered appointment as Offic...
N4.5tr Budget Deficit May Trigger Fresh Recession – Finance Minister, Zainab Ahmed Warns
Politics

N4.5tr Budget Deficit May Trigger Fresh Recession – Finance Minister, Zainab Ahmed Warns

With the deficit financing of the revised N10.509 trillion 2020 budget rising from N1.847 trillion to N4.563 trillion, the economy might be heading for another recession, the Minister of Finance, Budget and National Planning, Zainab Ahmed, has warned. She expressed the fear yesterday in Abuja during a session with the Senate Committee on Finance where heads of revenue-generating agencies made presentations on the revised 2020-2022 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP). The minister noted that projected revenues from the agencies had been drastically slashed. According to her, 77 per cent of the new financial expectations from sources like the Nigerian National Petroleum Corporation (NNPC), the Federal Inland Revenue Service (FIRS) and the...
FIRS Says Nigerians Will Pay Stamp Duty On ATM Printouts, Some Whatsapp Messages
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FIRS Says Nigerians Will Pay Stamp Duty On ATM Printouts, Some Whatsapp Messages

The Federal Inland Revenue Service (FIRS) says Nigerians will now pay stamp duties on WhatsApp messages, SMS, and messages via any electronic platform acknowledging receipt of funds. The revenue service also stated that stamp duties will be paid on “POS receipts, fiscalised device receipts, Automated Teller Machine (ATM) print-outs”. According to an information circular published by the agency, and seen by TheCable, Nigerians will also be required to pay stamp duties on SMS acknowledging receipt of funds. FIRS gave illustrations of situations where Nigerians are expected to pay stamp duties, one of them says: “ABZ Ltd’s chief accounting officer, after receiving a cash payment of N500,000 from Mr. XYZ on behalf of ABZ Ltd., composed a message which reads: ‘receipt of N500,000 i...
FIRS Under Fowler Virtually Collapsed, I Had To Rebuild From Scratch – Nami
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FIRS Under Fowler Virtually Collapsed, I Had To Rebuild From Scratch – Nami

The Federal Inland Revenue Service (FIRS), virtually collapsed under its previous management, its new chief has said. Muhammad Nami, who assumed office as chairman last December, said he had to “build the entire structure of the service again from scratch.” This is not the first time Mr Nami is criticising the administration of his predecessor, Babatunde Fowler. In December, while giving his first Christmas message and felicitation to the revenue agency’s staff, he accused Mr Fowler’s management of superintending a steady decline in revenue collection by the service since the inception of his tenure in 2015. Mr Nami assumed office on December 19, 2019. In a recent interview with PREMIUM TIMES and other journalists in Abuja, he said his first 100 days in office has been challengin...
Ecobank Ordered To Pay N1.6Billion To FIRS For Evading Tax
Business

Ecobank Ordered To Pay N1.6Billion To FIRS For Evading Tax

The Tax Appeal Tribunal, Lagos Zone, has ordered Ecobank Nigeria Limited to pay N1,663,500,000 to the FIRS as Company Income Tax (CIT) for the year 2016. The bank had claimed it made no taxable profit and declared losses from its banking operation. Federal Inland Revenue Service (FIRS) Director of Communication, Abdullahi Ahmad, in a statement on Wednesday, said the Tribunal ruled on February 20, 2020 in Appeal No. TAT/LZ/CIT/024/2018. The Tribunal headed by Prof. A.B. Ahmed ordered Ecobank to pay N1,663,500,000 to the FIRS as Company Income Tax (CIT) for year 2016. Ecobank had sued the FIRS after it was asked to pay its excess dividend tax liability of N2,079,375,000, inclusive of interest and penalty for the Year of Assessment (YOA). The bank argued that the dividend i...
FIRS Sets April 12 Deadline For Taxpayers To Get TIN
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FIRS Sets April 12 Deadline For Taxpayers To Get TIN

The Federal Inland Revenue Service (FIRS) has again said it is mandatory for all taxpayers and companies to register and obtain the Tax Identification Number (TIN) and display it on all documents supporting business transactions before April 12, 2020. FIRS made this known in a public notice published on Monday which was signed by its Chairman, Muhammed Nami. It stated that every company or business “shall provide their TIN to relevant providers of financial services not later 12th April, 2020, in order to update their existing records for accounts opened prior to the coming into effect of the Finance Act, 2019.” It also said banks and other financial institutions are required to request for TIN as a precondition for opening new accounts for companies and any other business. It fu...
FIRS Warns Against Evasion As 7.5% VAT Begins
Business

FIRS Warns Against Evasion As 7.5% VAT Begins

As the implementation of the new 7.5 per cent Value Added Tax rate begins on Saturday, the Federal Inland Revenue Service has warned businesses and individuals against tax evasion. The Federal Government had said it would from today begin the implementation of the 7.5 per cent Value Added Tax. The VAT increase which is meant to help government achieve its revenue projections for the 2020 budget is a part of the tax reforms included in the 2019 Finance Act . With the Act , it is expected that there will be more revenue to finance key government projects especially in the areas of health, education and critical infrastructure. Among the Finance Act strategic objectives is the supporting of micro , small and medium Enterprises in line with the ease of doing business reforms such as VA...
FIRS Gives 30-day Grace For Tax Clearance Certificate
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FIRS Gives 30-day Grace For Tax Clearance Certificate

The new Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr Muhammad Nami, has approved a 30- day window to enable taxpayers in the country obtain Tax Clearance Certificate (TCC). This information was announced by the tax agency in a statement personally signed by the tax chief and then issued on Sunday via the official Twitter page of the organisation. Mr Nami, in the statement titled Facilitating 2020 Tax Clearance Certificate (TCC) Issuance, explained that this move was designed to make things easy for taxpayers and assist them meet their obligations as they might need TCC. The Executive Chairman noted that the offer to ease issuance of TCC was in accordance with the provisions of Section 101 (1) of CITA LFN 2004 and in conformity with Self-Assessment Regulation...
FIRS: Garba Shehu Reveals Why Fowler Was Not Reappointed
Politics

FIRS: Garba Shehu Reveals Why Fowler Was Not Reappointed

The Presidency has said that Babatunde Fowler’s tenure as chairman of the Federal Inland Revenue Service (FIRS), was not renewed because of his inability to generate enough revenue for the country. Fowler, whose term of office expired on December 9, 2019, was replaced by Muhammad Nami. President Muhammadu Buhari’s Senior Special Assistant on Media, Garba Shehu, while speaking with journalists at the weekend in Abuja, also said that it was not wrong for the federal government to borrow more money to finance infrastructure in the country. “It is not a scandal to borrow, the bad thing about borrowing is when you deployed it to your pocket. This has happened in the past in this country, President Buhari is borrowing to do railway, to do East-West expressway, to do second Niger bri...
Nigerian Senate Approves Muhammad Nami As New FIRS Chairman
Politics

Nigerian Senate Approves Muhammad Nami As New FIRS Chairman

The Nigerian Senate has confirmed the appointment of Muhammad Mamman Nami as the Executive Chairman, Federal Inland Revenue Service, FIRS. Senate President Dr. Ahmed Lawan hit his gavel at about 2:51 pm today, signalling the confirmation of Nami’s appointment by the Senate. President Mohammadu Buhari sent Nami’s name to the Senate as FIRS Executive Chairman last week. Senator Olamilekan Solomon Adeola (Lagos West), Chairman of the Finance Committee, laid the report of the Senate Finance committee before the Senate. The Senate President promised that the Senate will give FIRS all the support it needs to attain its mandate at this time when the nation needs more revenue. “We will keep the Service on its toes. The Chairman and members should note that a lot of work needs to be do...
Senate Confirms AMCON, FIRS Board Members
Politics

Senate Confirms AMCON, FIRS Board Members

The Senate Wednesday confirmed the appointment of Board chairmen and members of the Federal Inland Revenue Services (FIRS) and the Assets Management Company of Nigeria (AMCON). Also, the Senate approved the budget of N11,594,920,847 for the National Communication Commission on the Universal Service Provisions Fund and N140.3 billion for the 2020 National Communication Commission. The confirmation of the chairman and Board members of FIRS was sequel to the motion moved by the chairman of Senate committee on Finance, Solomon Adeolu Olamilekan who urged the Senate to receive and consider the report of the Senate committee on Banking, Insurance and Other Financial institutions. The Senate approved Mohammad Mammam Nami as FIRS chairman with others as Board members. Also, the Senat...
Timi Frank Distance Self From N40bn Claim, Challenges FIRS To Sue Him
Politics

Timi Frank Distance Self From N40bn Claim, Challenges FIRS To Sue Him

Timi Frank distance self from N40bn claim, insists N90bn diverted for 2019 election Challenges FIRS to sue him A political activist and former Deputy National Publicity Secretary of the All Progressives Congress (APC) Comrade Timi Frank, has distanced himself from the report of PRNigeria claiming that only N40 billion were stolen from the Federal Inland Revenue Service (FIRS) to prosecute 2019 election by the ruling party. The outspoken activist said his earlier position that about N90 billion were diverted to prosecute the 2019 general election for the government of the day has not changed. Frank demanded an apology from the authority of the FIRS for saying that he was been used to fabricate lies against the revenue generating agency, adding that he is a man of integrity. ...
FIRS: “You Stepped On Toes” – Abiodun Aina To Fowler
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FIRS: “You Stepped On Toes” – Abiodun Aina To Fowler

Acting Executive Chairman, Federal Inland Revenue Service, FIRS, Abiodun Aina, on Monday, said Tunde Fowler stepped on toes during his first term as the chairman. Aina said this at the handover ceremony on Monday after President Muhammadu Buhari nominated Muhammad M. Nami as the new FIRS chairman Aina, who spoke in glowing terms about Fowler, thanked him for transforming FIRS even as he admitted that he stepped on toes during his term. Aina said: “Thank you very much Mr, Chairman, my boss, my brother, and my good friend Sir. As you hand over to me I say what am I running? To have fought a good fight. You laid a very solid foundation “Within the intervening period that I will be holding fort, I promise you to steady the ship, by the grace of God. You have done a lot within t...
FIRS Workers Threaten Strike Over Fowler’s Handover To Abiodun Aina
Politics

FIRS Workers Threaten Strike Over Fowler’s Handover To Abiodun Aina

Workers of the Federal Inland Revenue Service on Tuesday faulted the decision of the immediate past Chairman of the FIRS, Mr Babatunde Fowler, to hand over to the Coordinating Director, Domestic Taxes Group, Abiodun Aina. Fowler, whose replacement was announced on Monday by the Federal Government, had handed over to Aina in acting capacity, pending the confirmation of a substantive chairman. But at an emergency meeting held on Tuesday at the Association of Civil Servants’ secretariat in Abuja, the workers said the action of Fowler violated the presidential directive on the handover. Specifically, the union in a communiqué issued at the end of the meeting said Aina could not be regarded as the most senior director in the FIRS. A copy of the communiqué which was signed by 17 seni...
News

FIRS: Leaked document shows Tunde Fowler asked for his tenure to be renewed but it was declined

A Leaked memo signed by Tunde Fowler, erstwhile chairman of  Federal Inland Revenue Service, FIRS, showed he asked for his tenure to be renewed by President Buhari but it was denied. In the letter with reference number FIRS/EC/CWOSGF/0476/19/006 and dated December 9th 2019, Fowler, who is a childhood friend and former classmate of Vice President Yemi Osinbajo, reminded the President that his tenure had elapsed and would love for it to be renewed. The letter which he wrote through the office of the Secretary to the Government of the Federation, Boss Mustapha, reads in part. “I write to notify the Secretary to the Government of the Federation that my first tenure as the Executive Chairman of the FIRS ends today, December 9, 2019. In view of the above, I wish to present myself for ...
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NIPOST, FIRS and Stamp Duty Collection By abiodun KOMOLAFE

It is neither a bad idea for the Federal Government to take measures aimed at bolstering the total revenue accruable to its purse, nor was it ignoble or less productive for its Ministries, Departments, and Agencies (MDAs) to compete and struggle to outdo one another. However, all competitions for relevance by the MDAs must be done in accordance with the stipulated laws of the land. A case in hand is the Stamp Duty collection which, if not well-managed, may set two prominent agencies of the government on the warpath. The cost of collection is the issue here!   Conservatively, government expects to generate about N2.5 billion daily from Stamp Duty collections, provided there is full compliance with the condition of disclosure and transparency. While the Nigerian Postal Service (...
President Buhari Names Muhammad Nami As New FIRS Chairman
Politics

President Buhari Names Muhammad Nami As New FIRS Chairman

President Muhammadu Buhari has approved the composition of a new board for the Federal Inland Revenue Service, FIRS, subject to Senate confirmation. The President nominated a renowned tax consultant, Muhammad M. Nami as the new chairman. The board is composed of a member representing each of the six geographical zones and statutory representatives from a select number of ministries and government agencies. Mr Muhammad, a well-trained Tax, Accounting and Management professional with highly rated qualifications and professional practice and licenses from relevant professional bodies, has almost three decades of practical working experience in Auditing, Tax Management and Advisory and Management services to clients in the banking, manufacturing, services and public sectors as wel...
Politics

Zainab Ahmed Insists FIRS Will Collect Stamp Duties, Others

The Minister of Finance Budget and National Planning. Zainab Ahmed, has said that the Federal Inland Revenue Service (FIRS) would be in charge of sales and collection of stamp duties. This is coming despite the Senior Staff Association of Statutory Corporations and Government Owned Companies (SSASCGOC) and NIPOST workers got the assuarance of the senate that they would carry out the mandate. The Minister while addressing the press in Abuja said “by the passage of the Finance Bill it will be the Federal Inland Revenue Service that will be collecting the Stamp Duties.” S “It is a revenue for the government, it is a form of tax for every financial transaction that goes on. For example, you send a transfer, you see the bank charges you N50, FIRS is going to be the collection agency,”...
IPPIS: ASUU Asks FG Why Staff Of CBN, NDIC, FIRS Are Not On The Payment System
Politics

IPPIS: ASUU Asks FG Why Staff Of CBN, NDIC, FIRS Are Not On The Payment System

Academic Staff Union of Universities (ASUU) has posed some tough questions to the Federal Government, asking why some federal agencies such as the Federal Inland Revenue Services, Central Bank of Nigeria and the Nigeria Deposit Insurance Corporation are not captured on the Integrated Payroll and Personnel Information System(IPPIS). ASUU Chairman, University of Abuja branch, Dr. Kassim Umaru, raised the query while puncturing the insistence of the Federal Government that its members must enrol on the platform. In a statement on Saturday, Umaru dismissed the payment system as a scam and said ASUU members will not join it. The Office of Accountant-General of the Federation said that data of university workers and colleges of education be captured on the system between Monday November 25 an...
Photos From Bbnaija’s Mercy, Seyi And Diane’s Visit To NBC And FIRS
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Photos From Bbnaija’s Mercy, Seyi And Diane’s Visit To NBC And FIRS

Former housemates of the 4th edition of the Big Brother Naija TV Reality show, Mercy Eke, Diane Yashim and Seyi Awolowo paid a courtesy visit to Nigeria Broadcasting Commission (NBC) and Federal Inland Revenue Service (FIRS) on behalf of DStv NG. The reality stars took to their Instagram pages to reveal that they paid courtesy visit to Nigeria Broadcasting Commission and Federal Inland Revenue Service on behalf of Digital Satellite TV, DStv NG.
Job Scandal: Senate President Lawan ‘Gets’ 26 FIRS Slots
Politics

Job Scandal: Senate President Lawan ‘Gets’ 26 FIRS Slots

Senate President Ahmad Lawan (Yobe North) was said to have secured 26 job slots for his constituents, from the Federal Inland Revenue Service, Daily Trust exclusively gathered. This is just as the job scandal rocking the upper chamber gets messier with senators threatening showdown over the sharing formula of the employment slots given to them by the federal agency. Employment letters were said to have since been distributed to the beneficiaries by the Senate president. A senator, who spoke to Daily Trust yesterday, accused Lawan of “hijacking the 26 slots without considering other senators, not even from his state.” A youth association from Lawan’s constituency, Unity for Collective Progress Forum, yesterday said all the beneficiaries had received employment letters and we...
FIRS: Tunde Fowler Dragged To Court, Asked To Vacate Office, Return Salaries
Politics

FIRS: Tunde Fowler Dragged To Court, Asked To Vacate Office, Return Salaries

A Federal High Court sitting in Kano State has ordered the appearance of the Chairman Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler before it on October 7, 2019 to show cause why he should not be sacked for overstaying his tenure which expired on August 18, 2019. The presiding judge of the High Court, Justice Lewis Allago, after hearing a plaintiff’s counsel, ordered that the defendant should be served in Abuja and filed their defence within five days. In court documents obtained on Saturday by PRNigeria with Suit No FHC/KN/CS/141/2019, the FIRS Boss was dragged to Court over his continued stay in office after the expiration of tenure. The Plaintiff, Mr. Stanley Okwara, in a suit filed on September 18, 2019 and obtained, also joined the Attorney General of the Fed...
FIRS Fund: Vanguard Retracts Story, Apologizes To Osinbajo
Politics

FIRS Fund: Vanguard Retracts Story, Apologizes To Osinbajo

Management of Vanguard Newspapers have tendered apology to Vice President Yemi Osinbajo over the controversial N90bn FIRS campaign funds ran against him courtesy Timi Frank. This comes barely 24 hours after the Vice President threatened a libel suit against the newspaper if it failed to retract the story and apologize within 24 hours. A quick check on their website showed that the story has since been pulled down while also publishing a full-page applogy. Read full statement as obtained below... RETRACTION / APOLOGY to VP Yemi Osinbajo On our website publication of Monday, September 23, 2019 we published a story titled "N90bn FIRS Election Fund: Osinbajo's problem, not 2023 politics." We have since discovered that the story lacks factual substance and we hereby retract it in i...
I Stand By My Statement, Says I Shall Meet You In Court – Timi Frank To FIRS
Politics

I Stand By My Statement, Says I Shall Meet You In Court – Timi Frank To FIRS

A political activist and former Deputy National Publicity Secretary of the All Progressives Congress (APC), Comrade Timi Frank, has called on the Federal Inland Revenue Service (FIRS) to bury their faces in their hands in shame over their gross act of corruption recently exposed by him. Frank in a statement in Abuja in response to a riposte to his press release by the tax agency, said he cannot be intimidated by the agency’s threat to sue him. He described the agency’s rantings as a puerile attempt to sweep the main issues in his public statement under the carpet. He said that the FIRS thinks they can continue to deceive Nigerians by claiming unfounded budgetary fidelity. Frank said: “I read the statement by the Federal Inland Revenue Service and I am rather disappointed at...
FIRS Denies Giving Osinbajo N90bn, Seeks Legal Actions Against Timi Frank
Politics

FIRS Denies Giving Osinbajo N90bn, Seeks Legal Actions Against Timi Frank

The Federal Inland Revenue Service, FIRS, has denied claims by a political activist, Timi Frank that the agency supported the All Progressives Congress by giving Vice President Yemi Osinbajo N90 billion. In a statement titled, "RE-Osinbajo in trouble over N90 billion FIRS election fund – Timi Frank" the agency urged Nigerians to ignore the report, stressing that, it will pursue libel actions against him. The agency said it did not spend and could not have spent taxpayers money for political ends, noting that, Mr. Frank is seeking cheap popularity and relevance. READ THE STATEMENT BELOW: The attention of the Federal Inland Revenue Service, FIRS, has been drawn to publication in some online and daily newspapers by a certain Comrade Timi Frank, the former Deputy National Publici...
Nigerians To Pay 5% VAT On Online, Internet Transactions January 2020 — FIRS
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Nigerians To Pay 5% VAT On Online, Internet Transactions January 2020 — FIRS

Executive Chairman of the Federal Inland Revenue Service, Babatunde Fowler, has said that the agency will begin to impose value-added tax on Internet transactions both domestic and international with effect from January 2020. Fowler, made the revelation on Monday at the African Tax Administration Forum in Abuja. He said, “We have thrown it out to Nigerians. Effective from January 2020, we will ask banks to charge VAT on online transactions, both domestic and international. “VAT remains the cash cow in most African countries, with an average VAT-to-total tax revenue rate of 31 per cent. “This is higher than the Organisation for Economic Cooperation and Development’s average of 20 per cent. “This statistics, therefore, is a validation of the need for us to streamline the a...
Buhari Desperate To Silence Obasanjo – Atiku
Politics

Buhari Desperate To Silence Obasanjo – Atiku

Former Vice-President Atiku Abubakar says the Buhari administration is desperate to accuse ex-President Olusegun Obasanjo of a crime so as to silence him. In a statement issued on Monday, Atiku’s media office said the inclusion of Obasanjo’s name in the list of tax defaulters by the Federal Inland Revenue Service (FIRS) was to blackmail him. It said the Economic and Financial Crimes Commission (EFCC) was feeding the media with falsehood to cause disaffection between Obasanjo and his former deputy. “The Economic and Financial Crimes Commission is feeding members of the media with deliberate falsehoods in an attempt to cause disaffection and bad blood between former President Olusegun Obasanjo and his former deputy, Atiku Abubakar, on one hand, and between former President Obasa...
Alleged Tax Default: FIRS’ Action Embarrassing – Assemblies Of God Church
News

Alleged Tax Default: FIRS’ Action Embarrassing – Assemblies Of God Church

The Assemblies of God Church, Nigeria, has described as embarrassing the listing of the Church by the Federal Inland Revenue Service, FIRS, as one of the tax defaulting companies. It was gathered that the Government revenue agency had listed the church alongside 19,901 other accounts that were yet to regularise their tax status. A statement it posted to that effect had read: “This is to notify all Companies, which had their Bank Accounts placed under Lien by the Federal Inland Revenue Service (FIRS) pursuant to Section 31 of the FIRS Act, but are yet to regularise their tax status with the FIRS, that if they fail, refuse or neglect to pay the tax due within 30 days of this Notice, the FIRS shall in accordance with Section 49 (2) (a- d) of the FIRS Act proceed and enforce the paym...
Under Buhari, Number Of Tax Paying Adults Has Moved From 10 Million To 20 Million – Garba Shehu
Politics

Under Buhari, Number Of Tax Paying Adults Has Moved From 10 Million To 20 Million – Garba Shehu

The Federal Government Of Nigeria has disclosed that the number of tax paying adults has doubled under the administration of President Muhammadu Buhari. This information is contained in a statement (which you can read below) Published by Senior Assistant to the president on media, Garba Shehu. Mallam Shehu was reacting to the purported query of the Chairman of the Chairman of the Federal Inland Revenue Service, FIRS, Babatunde Fowler. While stating that the FIRS boss was not under investigation, the presidency praised the service, under the watchful guide of Mr. Fowler for recording notable and commendable improvement – which culmunated to the increase of tax payers from 10 million to 20million adults. “It is noteworthy and highly commendable that under this administration, t...
Fowler Replies Kyari, Says Recession, Oil Price Affected Tax Revenue
Politics

Fowler Replies Kyari, Says Recession, Oil Price Affected Tax Revenue

The recession experienced by the Nigerian economy in 2016 as well as lower oil prices affected the revenue collected by the Federal Inland Revenue Service (FIRS) between 2015 and 2018, Tunde Fowler, the chairman, has said. Despite the challenges, Fowler explained, non-oil revenue such as VAT and company income tax — which he said are within the control of FIRS — have been on the increase compared to pre-2015 figures. But oil-based taxes, such as petroleum profit tax (PPT), are beyond the control of the service. He was responding to a memo from Abba Kyari, the chief of staff to the president, who said there were significant variances between the budgeted collections and actual collections for the period 2015 to 2018. Kyari also said the actual collections for 2015 to 2017 were...
‘N1.92tr shared to three tiers by FAAC in three months’
News

‘N1.92tr shared to three tiers by FAAC in three months’

GOING by the record of the National Bureau of Statistics (NBS), the Federation Account Allocation Committee (FAAC) has disbursed N1.92 trillion to the three tiers of government in the first quarter of this year. The NBS figures are allocations by the FAAC for the months preceding when they were shared. For instance, allocation by FAAC for the December 2018 was shared in January, 2019 and so for the other two months of February and March. The NBS figures which tallied with the figures from the Office of the Accountant General of the Federation (OAGF) said FAAC disbursed N649.19 billion to the three tiers of government in January, 2019 (December 2018); N660.37 billion in February (January 2019) and the sum of N619.86 was distributed to the three tiers in March (February 2019). FAAC All...
Gaming VAT to Become Automated In Nigeria.
News

Gaming VAT to Become Automated In Nigeria.

The Nigeria government has introduced a new and automated collection process for the lottery and gaming and industry, Casino Buzz has reported. It is National Regulatory Commission and the Federal Inland Revenue Service (FIRS) combined to promise transparency in its collection methods in the face of criticism from the gaming industry that suggested VAT and automation would kill off the business. The criticism was based upon the additional 5% VAT charge that would discourage players. Their representatives had suggested that the only effect would be to drive players into the hands of the unregulated industry. FIRS Chairman Tunde Fowler also reassured the operators and stakeholders in the lottery and gambling industry in Nigeria that they are working towards introducing new measures ...
How FIRS Plans To Realise Its Revenue Target – Babatunde Fowler
Uncategorized

How FIRS Plans To Realise Its Revenue Target – Babatunde Fowler

The Federal Inland Revenue Service (FIRS) says it plans to realize its revenue target for the year through recoveries from defaulting millionaire taxpayers, values added (VAT) and compliance enforcement activities. The Chairman of FIRS, Tunde Fowler, said in January that the agency’s revenue collection target for 2019 was about N8 trillion. Mr Fowler told the House of Representatives joint committees on Finance, Appropriations, Aids, Loans and Debt Management Legislative Budget and Research and National Planning and Economic Development that he hopes about N750bn would be realized from about 55,000 defaulting taxpayers during the year. Mr Fowler, who spoke on the 2019/2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), said using banking information ...
FIRS Goes After 85,000 Millionaire Tax Debtors
News

FIRS Goes After 85,000 Millionaire Tax Debtors

The Executive Chairman, Federal Inland Revenue Service, Mr Tunde Fowler, has said that the Service, in collaboration with other stakeholders like the Nigeria Police Force, will this year go after wealthy tax defaulters. Fowler said this on Thursday in Abuja when the Acting Inspector-General of Police, Mohammed Adamu, paid a courtesy visit to the Revenue House. A statement from the FIRS on Thursday said Fowler informed the police boss that already the service had realised the sum of N23bn based on a closer look at the books of 45,000 tax debtors. He said each of the 45,000 tax debtors had over N100m as turnover in their accounts. The Service, he said, would be going after another set of over 40, 000 millionaire tax defaulters in 2019. He requested the Nigeria Police to as...
NUC Plans First Nigerian Universities Ranking In 14 Years
Education

NUC Plans First Nigerian Universities Ranking In 14 Years

The National Universities Commission has said that it had not ranked the nation’s universities in the last 14 years, and declared that claims to that effect were “simply fake’’. Abubakar Rashid, its Executive Secretary, in an address at the 3rd Combined Convocation of the Bingham University, Karu in Nasarawa State, urged members of the public to disregard recent rankings said to have been done by the NUC. “The purported ranking published in the conventional and social media is false, fake and not from the NUC. It is meant to deceive members of the public and should be disregarded,’’ Mr Rashid said. Mr Rashid, however, said that the NUC would soon carry out the ranking to determine the true status of the universities, adding that the exercise would represent a true assessment of the scho...
Group Petitions FIRS, Demand 2015 and 2016 Tax Recipts of Atiku Abubakar
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Group Petitions FIRS, Demand 2015 and 2016 Tax Recipts of Atiku Abubakar

A group of Nigerians have petitioned the Federal Internal Revenue Service FIRS, demanding the 2015 and 2016 tax receipts of former Vice President now Presidential candidate of PDP in 2019 election, Atiku Abubakar. In the letter signed by the duo of Nelson Ekujumi and Solomon Sobade, the group said information at their disposal shows that Atiku did not pay his Personal Income Tax for several years and only ran to the FIRS in April this year to pay the back-log of only his 2015 – 2017 taxes to meet up with the requirements of INEC. Atiku's campaign organization is yet to react to this allegation. Read the petition letter below   Friday, November 16, 2018 The Executive Chairman, Federal Inland Revenue Service, Revenue House, 20 Sokode Crescent, Wuse Zone 5, Abuja. Dea...
Mompha Boasts About Making N14 Billion In 1 Year
Entertainment

Mompha Boasts About Making N14 Billion In 1 Year

Ismaila Mustapha, popularly known as Mompha, has revealed that he made 14 billion Naira in 2017 alone and he shared a document received from the Federal Inland Revenue Service, FIRS, to prove this. The Bureau de Change operator who used to be best friends with Hushpuppi went on to shade people who make only a few millions yet come on Instagram to claim they are billionaires. He wrote: I keep laughing when some people on IG keep calling themselves billionaire when they no even get 50m naira for account. From 2016 to 2017 my total income is 14 billion naira and 2018 own bnever dey there ooo. Keep deceiving yourself  
Over 6,772 Billionaires Don’t Pay Tax In Nigeria – FIRS
News

Over 6,772 Billionaires Don’t Pay Tax In Nigeria – FIRS

The Federal Inland Revenue Service (FIRS) has vowed to go after the bank accounts of defaulting taxpayers who are raking in billions in Nigeria but are not paying taxes. FIRS Chairman, Tunde Fowler, in a statement on Sunday, disclosed that all banks in the country would do substitution on accounts for such identified taxpayers. “There are over 6,772 of such defaulting billionaire taxpayers being identified by the FIRS, leveraging on banks data,” Fowler said. He noted that most of such taxpayers, who have between N1b and N5 billion in their accounts have no Taxpayer Identification Number, TIN, or have TIN and have not filed any tax returns as taxpayers. “What we have done is what we call ‘substitution‘ which also is in our laws which empowers us to appoint the banks as collecti...

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