Opinion

Statement by President Buhari at World Leaders Summit on ISIL and Violent Extremism

GLOBAL LEADERS’ SUMMIT ON COUNTERING ISIL AND VIOLENT EXTREMISM ...REMARKS BY HIS EXCELLENCY MUHAMMADU BUHARI, PRESIDENT, FEDERAL REPUBLIC OF NIGERIA

DATE: 29TH SEPTEMBER 2015

Mr Chairman,
Your Excellencies,
Secretary-General,
Ladies and Gentlemen,

I thank President Obama for organising this important meeting. The timing is appropriate and the subject matter warrants our close attention. The threats posed by ISIL in the Middle East, and violent extremism elsewhere, are an existential danger to many States.

Nigeria’s Economy Needs an Urgent Fix

REVIEW –A petite look at how Africa’s biggest economy has performed under the “apostles” of change.

There is a looming disaster waiting to happen in Nigeria if its ailing economy is not urgently fixed. Palpably not sounding like a prophet of doom, but the blue sky of opportunity that once appeared recently is fast dissipating into a gloomy economic cloud. Even the expectations of most Nigerians, following the euphoria that greeted the inauguration of a new government, may soon be cut off.

NNPC’s Forensic Audit Vs PwC’s Independence

RISK –The Dangers of Engaging PwC to Audit Revenue Generating Agencies.

On Friday 14 August 2015, several national newspapers and news portals reported that the National Economic Council’s ad-hoc committee on the management of the Excess Crude Account proceeds and accruals into the Federation Account had hired two firms, KPMG and PriceWaterHouseCooper (PwC) to audit the accounts of all Federal Government’s revenue earning agencies.

FIRS: Why Babatunde Fowler Is A Wrong Choice –Tax Expert

Section 3(2) of the Federal Inland Revenue Service (FIRS) Establishment Act 2007 creates the Chairman of the FIRS and specifically states that, “the Executive Chairman shall be a person experienced in taxation; to be appointed by the President and subject to the confirmation of the Senate.” There is no description of what constitute “experience in taxation.” However, for those who know the historical section from the old Companies Income Tax Act, that section use to read that the President shall appoint a person from within the Service to head the FIRS.

Scrutinizing The “Change Agenda”

REVIEW –Afrinvest appraises 100 days of the Nigerian Macroeconomic Condition
 
Following the result of the 2015 presidential polls, the new administration was ushered into power amidst groundswell optimism. We attempt an appraisal of the performance of the Buhari led government 100 days after inauguration (since May 29, 2015), having been sworn in amidst high expectations of structural reforms, improvement of government's fiscal state, tackling of endemic corruption and stamping out insurgency in Northern Nigeria.

LIRS Increases Revenue Outlets

The Lagos State Internal Revenue Service revealed that it has opened 24 revenue outlets across main markets in the state.
It disclosed that the development would facilitate the agency to capture more members of the taxpaying public which will ease its payment and collection. Dr. Williams Fowler, Chairman and Chief Executive Officer, Lagos State Board of Internal Revenue, stated these.

NGOs Must Pay Tax - FIRS


The Federal Inland Revenue Service has affirmed that Non-governmental organisations in the country are not exempted from paying taxes.
According to FIRS, insinuations that NGOs, as not-for-profit organisations, are exempted from paying taxes are untrue.
Speaking to members of different NGOs during a sensitisation meeting in Abuja recently, the Acting Executive Chairman, FIRS, Mr. Kabiru Marshi, said “Nigerian tax laws do not necessarily exempt NGOs from paying taxes.

Court Sacks Fintiri, Orders Swearing-in of Nyako’s Deputy

 Justice Ademola Adeniyi of Federal High Court, Abuja, has ordered that the former deputy governor of Adamawa state, Mr. Bala Ngilari, should be sworn in as the substantive governor of the state.

The substantive speaker of the House of Assembly, Alhaji Umar Fintiri, is also mandated to vacate office as the acting governor of the state.

#CashForArms Deal Bungled Again. …as South Africa Seizes Nigeria’s $5.7m

Nigeria responded with fury Monday after South African authorities confiscated a second tranche of funds meant for arms purchase to fight the extremist Boko Haram sect, denying the deal was unlawful and warning South Africa of its investment in Nigeria.

The warning came after the South African government seized US$5.7 million wired by the Nigerian government through a bank to an arms dealer in that country.

FG Suspends Residency Programme in Nigeria

The president, Dr Goodluck Ebele Jonathan has ordered the immediate sack of all resident doctors in Nigerian hospitals.

In a directive convened in an internal memo dated August 13 and signed by the permanent secretary, Federal Ministry of Health, L.N Awute, to Federal Hospitals (all CMDS/MDS and Federal Tertiary Health Institutions), Mr Jonathan also ordered indefinite suspension of all Residency Training Programme for Nigerian Doctors. 

Mr Awute said the President’s directive was given following an appraisal of the challenges facing the health sector.

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