The Federal Capital Territory Internal Revenue Service (FCT-IRS) has achieved a significant milestone by collecting a total of N252.83 billion in Internally Generated Revenue (IGR) for 2024. Eko Hot Blog reports that this figure not only exceeds the N250.2 billion target for the year by 101% but also represents a 19.8% increase from the N211.1 … Read more
Senator Mohammed Ali Ndume, representing Borno South in the National Assembly, has urged Minister of Finance Wale Edun, the Federal Inland Revenue Service (FIRS), and other economic managers to stop misleading President Bola Tinubu. Ndume made this statement in response to the Federal Government’s plan to increase the country’s tax regime. He expressed concern that … Read more
Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service (FIRS), has refuted claims that the federal government intends to impose new taxes or increase existing tax rates for Nigerians. During a session with the Senate Committee on Finance, chaired by Senator Mohammed Sani Musa, Adedeji clarified that the tax reform bills submitted to … Read more
We are in a time of pronounced change of thinking in a positive direction in Nigeria after decades of misadventures. To support this change, we must focus on the key policies and drivers of reform in order to assist them in their endeavours. EDITOR’S PICKS ‘Death’ Of Olu Jacob Trends On Social Media Borno: Police … Read more
FIRS recently posted an Easter message on social media, saying Jesus paid debts, not taxes. Although the service quickly deleted the post, the action spurred criticisms. CAN demanded an apology from FIRS. Eko Hot Blog reports that the Federal Inland Revenue Service (FIRS) has apologised to Christians over its Easter message that many considered as … Read more
Eko Hot Blog reports that the federal government has filed a criminal charge against Binance, a popular cryptocurrency platform, for “tax evasion”. According to The Cable, the charge was filed before the federal high court in Abuja on March 25 by the Federal Inland Revenue Service (FIRS), according to a statement on Monday. Editor’s Picks … Read more
The Federal Government has provided clarification over the weekend about the debate around the collection of taxes from internationally recognised online gambling providers. Eko Hot Blog reports that the explanation followed a recent announcement by the Federal Inland Revenue Service (FIRS) that it has started levying internet gaming companies directly for taxes. EDITOR’S PICK JUST … Read more
House of Reps committee on public accounts has called for an explanation on controversies of tax holiday. EKO HOT BLOG reports that the House of Representatives Committee on Public Accounts has invited the Ministry of Industry, Trade and Investments, Niyi Adebayo; Minister of Justice and Attorney-General of the Federation, Abubakar Malami (SAN); and the Federal … Read more
Other grounds upon which the application was based include that the decision of the appellate court will affect the collection of VAT by the government of Oyo State… The government of Oyo State has asked the Court of Appeal sitting in Port Harcourt, Rivers State, for joinder in the suit instituted by the Rivers State … Read more
The communique indicated that total revenue distributable for the month included gross statutory revenue of ₦477.504 billion, VAT of ₦166.228 billion The Federation Accounts Allocation Committee (FAAC) has shared a total of ₦696.965 billion as federation allocation for the month of August. Oshundun Olajide, a Deputy Director of Information at the Office of Accountant General … Read more
A yet-to-be-named policeman on Sunday reportedly opened fire on his colleagues at Onikan, killing some of them. The officer was said to have opened fire on his colleagues around 5am following a disagreement with other members of his team. According to reports, the yet-to-be-named officer hijacked their operational vehicle after shooting them and drove to … Read more
The Federal Inland Revenue Service (FIRS) said it would rake in four trillion naira as tax revenue from the extractive sector of the Nigerian economy in the 2020 fiscal year. The FIRS made this known in a statement issued by Abdullahi Ahmad, Director, Communications and Liaison Department in the service in Abuja on Tuesday. The … Read more