Connect with us

National

FCT IRS generates N126.54bn from January to June  

Published

on

The Federal Capital Internal Revenue Service (FCT-IRS), has collected and remitted N126.54 billion from January to June 2024.

The acting Executive Chairman, Mr Haruna Abdullahi, made this known during the FCT-IRS mid-year news conference in Abuja on Monday.

The executive chairman was represented at the event the Director Tax Operations, Mrs Chioma Anohu-Ndu.

He said that the figure was 53.5 per cent higher that the N82.46 billion collected in the first half of 2023.

He added that the N126.54 billion was 119.7 per cent higher than the N57.59 billion collected in the half year of 2022.

This, according to him, is an indication of a year-on-year growth.

“This stellar growth highlights our commitment and determination to overcome obstacles while striving to boost revenue generation.”

Abdullahi pointed out that the FCT-IRS achieved these impressive results within six months in spite of economic challenges.

He attributed the successes to the service’s resolve to leverage technology and build one of the most functional e-service portals in the revenue sector.

“We also owe this accomplishment to the high compliance rate of taxpayers in the FCT.

“We, therefore, urged everyone to continue choosing voluntary compliance over compulsion,” he said.

On enforcement, the executive chairman said that the revenue service has commenced an enforcement drive to tackle tax evasion and ensure the collection and accounting of all revenue accruable to the FCT.

He added that non-compliant businesses have been sealed, and appropriate legal actions taken to recover all tax liabilities and ensure timely payment of subsequent taxes.

ALSO READ:  Northerners Withdraw From Hunger Protest , Urge FG to Address Hardship

Abdullahi said that FCT-IRS was investing in technological advancements for seamless revenue collection in the FCT.

“We are currently optimising and upgrading our technology to improve tax compliance, reduce costs, and enhance efficiency.

“This will enable us to build a more resilient tax system that will enhance revenue generation while making the tax paying process seamless for our taxpayers,” he said.

He said that FCT-IRS plays a critical role in stabilising the economy during economic challenges by generating revenue for the government to fund essential public services.

“Key expectations include maximising tax collection to increase government revenue and ensuring efficient tax administration by streamlining tax processes, reducing bureaucracy, and combating tax evasion and fraud while educating and enlightening taxpayers.

“The service is also committed to aligning with Federal Government tax policy reforms aimed at stimulating economic growth.

“The service is also dedicated to engaging with taxpayers, businesses, and other stakeholders to understand their challenges to continuously develop solutions that will enhance tax compliance and eliminate tax evasion,” he added.

He commended the Minister of the FCT, Mr Nyesom Wike for his exemplary leadership, support, and commitment to boosting revenue generation in the FCT.

The FCT-IRS boss said that the service was working tirelessly to surpass the N500 billion 2024 revenue target, by remaining focused and sustaining the momentum.

“We encourage all taxpayers in the FCT to prioritise tax compliance, describing it as a crucial aspect of development and nation-building.

“By fulfilling your tax obligations, you contribute directly to the growth and prosperity of the FCT and the nation at large,” he said. (NAN)

ALSO READ:  Kaduna State Committed To National Target of Achieving 27% Contraceptive Rate By 2024
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National

Tinubu tasks NOUN on technology advancement

Published

on

President Bola Tinubu has assured the National Open University of Nigeria (NOUN) of his government’s support to ensure the advancement of its Open and Distance Learning (ODL) structure.

Tinubu gave the assurance on Saturday in Abuja at the 14th convocation of the university, where the Speaker of the House of Representatives, Tajudeen Abbas and Dr Akinwumi Adesina, President, African Development Bank (AfDB), were conferred with honorary doctorate degrees.

While Abbas was conferred with an honorary doctorate degree of Doctor of Business Administrator, Adesina bagged an honorary doctorate degree of Doctor of Humane Letters.

The President , who was represented by the Minister of Education, Tunji Alausa, through Hajia, Rakiya Gambo, Director, Tertiary Education, Federal Ministry of Education, said NOUN would be strongly supported through Tertiary Education Trust Fund (TetFund).

Tinubu said there was the need to advance technology in tertiary institutions to guarantee a robust learning especially for the ODL.

“The Federal Government under my leadership is committed to supporting education by leveraging information technology to enhance learning.

“Through strategic intervention, we are ensuring that education remains the key to our technological development.

“As such, the Federal Government through TetFund, is financing the fibre optic infrastructure at NOUN to provide seamless Internet access to substantial number of students at study centres across the go-political zones of the country.

“This initiative harnesses the power of technology to improve access to education as faster as possible.

“This university has benefitted immensely from various government intervention provided through TetFund and we remain committed to ensuring that possible financial resources are consistently provided for the advancement of education through ODL in Nigeria,” Tinubu said.

ALSO READ:  Oborevwori Tasks MDAs on Standard Project Delivery

The Vice-Chancellor of the University, Prof. Olufemi Peters, said NOUN had continued to receive requests for the establishment of additional study centres from prominent individuals, community leaders and associations.

This, he said, was a testament of the essential role the educational institution had played in serving the nation.

“To meet the demand of our expanding reach, we leverage cutting-edger Information and Communication Technology to enhance instructional delivery and improve learning outcomes.

“Our global learning culture is further enriched through innovative collaborations and partnerships with institutions such as the University of South Africa, the Open University, UK, the Open University of Tanzania and so on,” he said.

According to Peters, the 14th convocation was another opportunity for NOUN to celebrate the academic achievements of its students, out of which 17,420 graduated, comprising of 10,967 undergraduates and 6,413 postgraduate students.

The Pro-Chancellor of the University, Malam Isa Yuguda, had earlier urged the Federal Government to incorporate NOUN graduates into its National Youth Service Corps programme, to encourage more youths to enrol in the ODL structure.

Yuguda also appealed to the government to allow the admission of NOUN Law graduates into the Law School, to give room for more student to enrolment into the University Law Faculty. (NAN)

Continue Reading

National

Nigeria, Others Get Hit As U.N. To Cut 20% Staff Capacity

Published

on

The United Nations Office for the Coordination of Humanitarian Affairs has listed Nigeria and nine other countries as countries to be affected as it will cut 20% of its staff due to a shortfall of $58 million.

The U.N. aid chief Tom Fletcher revealed this as he briefed staff after OCHA’s largest donor – the United States – cut funding.

“OCHA currently has a workforce of around 2,600 staff in over 60 countries. The funding shortfall means we are looking to regroup to an organization of around 2,100 staff in fewer locations,” Fletcher wrote in a note to staff on Thursday, as reported by Reuters.

OCHA works to mobilise aid, share information, support aid efforts, and advocate for those in need during a crisis. It relies heavily on voluntary contributions.

“The U.S. alone has been the largest humanitarian donor for decades, and the biggest contributor to OCHA’s programme budget,” Fletcher said, noting that its annual contribution of $63 million would have accounted for 20% of OCHA’s extrabudgetary resources in 2025.

Since returning to office in January for a second term, U.S. President Donald Trump’s administration has slashed billions of dollars in foreign assistance in a review that aimed to ensure programs align with his “America First” foreign policy.

Fletcher said OCHA would “focus more of our resources in the countries where we work,” but would work in fewer places.

“OCHA will scale back our presence and operations in Cameroon, Colombia, Eritrea, Iraq, Libya, Nigeria, Pakistan, Gaziantep (in Turkey) and Zimbabwe,” Fletcher said.

“As we all know, these exercises are driven by funding cuts announced by Member States and not by a reduction of needs,” he said. “Humanitarian needs are on the rise and have perhaps never been higher, driven by conflicts, climate crises, disease, and the lack of respect of international humanitarian law.”

ALSO READ:  Northern Christian Professors Disassociate From Planned Protest

U.N. Secretary-General Antonio Guterres last month announced a new initiative to improve efficiency and cut costs as the world body turns 80 this year amid a cash crisis.

Continue Reading

National

Explosion Kills Seven, Injures Several Commuters In Borno

Published

on

The explosion followed an Improvised Explosive Device (IED) planted by Boko Haram terrorists on the dilapidated and deserted road which passes through the Sambisa forest.

According to several sources, the explosion happened while cars on a scheduled military-escorted convoy were transporting passengers from Damboa to Maiduguri on Saturday leaving several others with varying degrees of injuries.

The Maiduguri-Damboa Road links Maiduguri to several local government areas in Southern Borno and has been a hotspot for Boko Haram terrorists for over a decade.

The road was closed to vehicles and commuters until the administration of Babagana Zulum opened the road for passengers to travel to Damboa, Chibok and other LGAs in southern Borno with the help of a military convoy serving as security cover for the commuters.

The convoy traverses the road two times a week after scanning for IED by the military and this has been going on for over two years now.

The injured persons whose numbers are yet to be specified have been conveyed to a hospital in Maiduguri for prompt medical attention.

ALSO READ:  Oborevwori Tasks MDAs on Standard Project Delivery
Continue Reading