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Federal Inland Revenue Services

The Speaker of the House of Representatives, Rep. Femi Gbajabiamila (APC-Lagos), has announced the demise of a former member of the house, Rep. Tony Okey. 7

House of Reps threatens to sanction MDAs over refusal to honour legislative summon

The House of Representatives, on Monday, threatened to sanction Ministries, Departments and Agencies (MDAs) of Federal Government that refused to honour legislative summon in accordance with the 1999 Constitution (as amended).
A fire incident occurred at the headquarters of the Federal Inland Revenue Service (FIRS) in Abuja on Monday, officials said.

Pinnacle: Our property not on FIRS radar

Pinnacle Communications Ltd yesterday said its property invaded by operatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) was not on the radar of the Federal Inland Revenue Services (FIRS) for tax evasion.
The Senate on Wednesday confirmed the nomination of Muhammad Nami as the Executive Chairman, Federal Inland Revenue Services and 13 others as board members.

Senate confirms Muhammad Nami, 13 others as FIRS board members

The Senate on Wednesday confirmed the nomination of Muhammad Nami as the Executive Chairman, Federal Inland Revenue Services and 13 others as board members.
Senate President Ahmed Lawan 2

Senate mandates committee to investigate issues on foreign vessels

The Senate on Wednesday at the plenary mandated its Committee on Local Content to investigate reasons for the dominance of foreign vessels above locally owned and registered vessels in the domestic carriage of petroleum products within coastal inland waterways of Nigeria.
A lawyer walks through the compound at the Federal High Court in Ikoyi district in Lagos, Nigeria, May 8, 2018. REUTERS/Akintunde Akinleye

Court bars FIRS from enforcing VAT on goods consumed in hotels

Justice Rilwanu Aikawa of the Federal High Court in Lagos has barred the Federal Inland Revenue Services (FIRS) from enforcing VAT provisions on goods and services consumed in hotels, restaurants and event centres in Lagos State.
President of the Senate, Ahmad Ibrahim Lawan, said on Tuesday that all standing committees of the upper chamber will be inaugurated on Wednesday.2

Senate approves 2020-2022 MTEF/FSP, raises federal government’s expenditure estimates to N10.7 trillion

The Senate on Thursday, approved the 2020 to 2022 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP).
The Presidential Election Petition Tribunal has upheld argument by President Muhammadu Buhari that it lacked the jurisdiction to entertain allegation of corrupt practices and voters’ inducement raised against Vice President Yemi Osinbajo in the petition by Atiku Abubakar and the PDP.

Lagos chiefs declare total support for VP Osinbajo

The Association of Lagos Titled Chiefs has reviewed the allegations against Vice President Yemi Osinbajo and declared its total support to him.

Femi Falana: What federal government should do before implementing increase in VAT rate

Human Rights Lawyer, Femi Falana, has called on the Federal Government to propose a Money Bill to the National Assembly before the implementation of the increase in Value Added Tax (VAT).

NNPC: Oil price in Nigeria cheapest in West Africa

The Group Managing Director (GMD) of Nigeria National Petroleum Corporation (NNPC), Mele Kyari, yesterday lamented at the Senate over the N145 per litre fuel price in Nigeria.

Governors hail Melee Kyari’s appointment as NNPC boss

The Nigerian Governors’ Forum (NGF) has hailed and totally endorsed the appointment of Mr Melee Kyari as the new Nigerian National Petroleum Corporation (NNPC), even as the national oil company has equally expressed its readiness to continuously work with them in the urgent task of growing crude oil production, growing renewable energy and expanding the revenue base of Nigeria.

RMAFC: No going back on banks’ probe for tax collection verification

The Revenue Mobilisation Allocation and Fiscal Commission on Sunday said there was no going back on the on-going probing of Money Deposit Banks to ascertain the amount of money they collected on behalf of revenue generating agencies of the government.

FRSC to tackle smugglers through number registration

The Federal Road Safety Corps (FRSC) says that effective collaboration among federal agencies, including the Federal Inland Revenue Services (FIRS), have made vehicle smuggling a less lucrative business.

Former central bank director lauds federal government’s plan to charge VAT on online transactions

Dr Titus Okunronmu, a former Director, Budgetary Department, Central Bank of Nigeria, has commended the Federal Government for its plan to collect Value Added Taxes (VAT) on online Business Transactions.

Account manipulation: Company slams N25 billion suit against First Bank, FIRS

An indigenous company, Biatemp Ventures Ltd. has sued First Bank of Nigeria and the Federal Inland Revenue Services (FIRS), demanding N25 billion special and general damages over alleged manipulation of its domiciliary account and illegal withholding of its tax clearance certificate.

Revenue commission to probe banks over N100 billion stamp duties

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), says it will soon commence probe of banks over stamp duties collection as it expects to recover more than N100 billion from the probe.

FIRS: Tax defaulters to lose property to government

Individuals and corporate bodies found guilty of tax evasion are to henceforth lose their properties to the Federal Government, the Chairman, Federal Inland Revenue Services (FIRS), Babatunde Fowler, has said.

Suspended SEC chief to make no-case submission in alleged N115 million fraud trial

The suspended Director-General of the Securities and Exchange Commission, Dr. Mounir Gwarzo; and the Executive Commissioner, Zakwanu Garba, on Thursday informed an FCT High Court Maitama that they would make a no-case submission in the charge filed against them.

Okoi Obono-Obla: Oil firms contribute to Nigeria’s economic problems

Some oil companies operating in Nigeria are contributing to the country’s economic adversity, chairman of the Special Presidential Investigation Panel for the Recovery of Public Property, Okoi Obono-Obla, said on Monday.

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