The Federal Inland Revenue Service (FIRS) has announced that it will begin deducting unremitted Value-Added Tax (VAT) and Withholding Tax (WHT) by states and local governments from the allocations shared monthly by the Federation Account Allocation Committee (FAAC).
The Executive Chairman of FIRS, Muhammad Nami, in a statement says the punitive measure was resorted after all entreaties by the service get the money paid was unsuccessful.
Nami noted, “By the provisions of the relevant laws, states and local governments are statutorily mandated, as agents of collection, to deduct at source and remit to the Service, all taxes deducted, within twenty-one days.
“However, it is regrettable to note that most of the states and local governments have failed in their responsibilities of remitting WHT and VAT deducted from payments made to contractors and service providers as required by law”.
While stating that the action has led to huge tax debts owed by the states and local governments, Nami says it has advised the federal government and the minister of finance, to also decline approval of any request for issuance of state bonds/other securities in the capital market, request for external borrowing; and approval for domestic loans from commercial banks/other financial institutions.
“We will also publicly name and shame defaulting states and local governments with the amount of unremitted tax deductions; to ensure the remittance of the established unremitted tax deductions by the defaulting states and local governments,” he explained.
Pastor Ituah Ighodalo, the Senior Pastor of the Trinity House, a non-denominational Christian centre headquartered in Lagos, has said a chieftain of the All Progressives Congress, Asiwaju Bola Tinubu can never become the President of Nigeria.
Pastor Ituah Ighodalo, a widower, opened up to Mediaroomhub during an interview.
A close ally of Asiwaju, Ighodalo opined that the astute politician is simply ambitious and not ready to offer anything to Nigerians.
“Asiwaju Bola Ahmed Tinubu is my personal friend, as a person, I love him very much, he has been very kind to me, he is a good man, but leadership today in Nigeria is greater than any personal ambition, the kind of leader we want is not someone who says being president has been my life ambition, no, you must do better than that,” he said.
Ituah, whose wife, Ibidun, a popular event planner died in 2020, observed that Nigerians deserve more than the APC chieftain.
Of Asiwaju’s candidacy, Ighodalo said, “What are you offering the people? What are you giving the people, where are you taking them to? Do you have the interest of the people at heart? Or you are just trying to put on your CV that you became president of Nigeria? We don’t have time for that anymore in Nigeria, we want people who really want to serve the people, people who are really ready to lay themselves down for the people, people who have vision for Nigeria, people who are bold enough to take the right decision and not going to offer us on the altar of politics and compromise us just because they want something or the other and take us back to square one again and we are suffering all over the place. Asiwaju has done well, he has produced a lot of leaders, I think the role he should be thinking of now is to put Nigerians together and how to select a person who will be able to take us forward and honestly if he is able to do that Nigerians will never forget him. I am looking for that righteous person who is ready to stop all these corrupt practices and not dashing people money, but using the money to educate them, build schools, hospital and laying infrastructures. What drives an economy is production, the ability to transform raw materials into finished goods. When you continue producing, there will be more than enough for everybody to consume. We want leaders that will encourage production, it means that the constitution of Nigeria must be changed and fashioned in such a way that there can be complete production of all the resources of Nigeria, I will not be doing Nigerians a good service if I do not speak the truth, it is costing me a lot no doubt, but that is the sacrifice you have to make.
Since the alleged presidential aspiration of the Governor of the Central Bank of Nigeria in the 2023 presidential election hit the headlines about two months ago, hardly has there been a week that the Delta State-born administrator did not come under attacks, criticisms and calls on him to resign. The mass hysteria exhibited by Emefiele detractors constantly finds ready space in both the traditional and new media, and these souls grab every opportunity to go for the jugular. They don’t even pretend that they have an axe to grind against Emefiele anymore, as the blatancy of their attacks now walks on all fours.
It no longer requires an extraordinary gift of intellect or possession of some supernatural powers to discern that some assailants are behind the constant calls for the resignation of the CBN Governor who has never been reported to have intimated anybody of his plan to contest the 2023 presidential election. These people who have an axe to grind have upped their game by engaging “civil societies” to do their bidding as seen in a report in the Punch newspapers of Monday, 4th April 2022.
As has been often stated by people or groups canvassing support for Emefiele, their activities are independent of the CBN Governor, who never had any prior knowledge or input. It is within the rights of anyone or group to support whoever they deem fit, but to crucify a man who did not prompt them to do so is disingenuous and overreaching.
Mallam Ibrahim Abubakar, a Financial Analyst and Rights Activist disagreed with CSOs that have come out to demand Emefiele’s resignation over the support he has been getting across Nigeria.
According to him, “That he has not shown interest or made any public declaration about the purported aspiration does not, however, negate his qualification and competence for it. He is supremely qualified, perhaps even more so than those who have already thrown their hats into the ring, especially if his sterling stewardship at the CBN is anything to go by. As things stand though, Emefiele has continuously reiterated that his job at the CBN, for which he was re-elected for a second term by President Muhammadu Buhari, remains his focus.”
In the same vein, a coalition under the auspices of the Emefiele Solidarity Vanguard has said it is outright blackmail to link the agitations directly to the CBN boss.
Addressing a press conference on Monday in Abuja, the ESV National Coordinator, Daniel Enyi, said that the campaigns and rallies, including those witnessed at the March 26 national convention of the All Progressives Congress, have no direct links to Emefiele.
Enyi said, “The latest campaign of calumny against the person of the CBN Governor is the branding of some Sharan minibuses by a support group, Green Alliance Movement. The ESV is also branding vehicles in support of Godwin Emefiele to persuade him to participate in the 2023 presidential elections.
“The images circulated on social media have nothing to do with the CBN governor directly; this is an attempt to box Emefiele to the corner. It is outright blackmail against his person to link the agitation directly to him.
“Many Nigerians have constituted themselves into various support groups for the CBN Governor in a clamour for him to contest the 2023 presidential election. As ESV, we have thousands of posters, T-shirts, and Billboards and have branded some of our cars in solidarity with the CBN Governor, this has nothing to do with him in person.”
Enyi noted that the actions of these groups, just like any other group rooting for different notable Nigerians, are simply based on the opinion of Nigerians on whom they want as President after the Buhari regime.
“As Nigerians, nobody can stop us from expressing our opinion on whom we feel should govern the country after 2023. We wish to make bold that the 2023 presidential election is far beyond an individual, as Nigeria belongs to all of us.
“We firmly believe that the economy needs a seasoned technocrat, an economist of all standards, who understands the monetary policy, diversification of the economy, and a patriotic Nigerian who shall improve the security situation and consolidate the gains of the Buhari’s regime. This we have found in Godwin Emefiele.
“We challenge anyone who has evidence of the CBN Governor consulting for the President or any other political office to tender the same before the general public. The CBN Governor is yet to accept the offer by Nigerians.
“We are confident that, if he makes up his mind to contest, he will declare in the open, as political office seeking cannot be done behind closed doors, especially the office of the President of the Federal Republic of Nigeria,” the ESV DG stated.
It is not surprising that this barrage of unwholesome attacks is targeted at the CBN Governor at a time when his stock continues to rise across the world, given his widely acknowledged strengthening and stabilisation of the Nigerian economy in the face of a global crash of oil prices. The takeaway from all of these is that necessity is the regular excuse for vandals. It is the mephistophelean plea used to legitimize devilish deeds.
Caesar had his Brutus, Charles the First, his Cromwell, George the Third—’Treason,’ then certainly Governor Dapo Abiodun has his Modele Sarafa-Yusuf. There is no gainsaying the latter is currently in the news for the wrong reasons, like the proverbial destitute who bit the finger that fed her.
If she were livestock, Modele Sarafa, would probably be a peafowl; like the wingless bird, the former broadcaster is so stuck up on ego, that she may have begun to overestimate her own worth.
Modele’s abandonment of Governor Dapo Abiodun, who plucked her from impendent obscurity, resuscitated her comatose repute in public circuit by appointing her as a media aide, is a final, gratuitous shame that she could have avoided.
But Modele would not heed that. The former Special Adviser on Information and Strategy to Governor Abiodun has undoubtedly drank water from an unknown stream. Thus her insolent moves against her former boss.
Modele’s recreant offensive against Abiodun brings to mind the parable of the proverbial slatternly woman who would pawn her repute and intelligence for a bottle of champagne; many more would cheerily shun the disquieting nudge of the forelock against the dishonorable dance of folly – if they can’t stand for something, they’d fall for anything.
In truth, there is no dignity in the life of a woman living on a leash of another person’s cash. She will forever remain a sad excuse for woman, a glorified errand girl whose lustre eventually extinguishes in the glitter of her benefactor’s wealth.
Just recently, Modele resigned from her appointment with Governor Abiodun and announced her interest in the governorship seat of Ogun State.
She took to her twitter handle and wrote: “Today, I threw my hat into the ring and formally declared my intention to run for the office of Governor of Ogun State on the platform of our great party, the All Progressives Congress.”
She would have attracted no flak perhaps if she had simply declared her interest in the race, without hurling insults at her former principal, argued pundits.
Modele cast decency to the winds and enacted what has been widely decried as a lethal act of misjudgment by speaking of her former boss in uncomplimentary terms.
Modele, on Wednesday, dismissed consternation about her decision to run for the governorship seat of Ogun state against her former boss, arguing that Governor Abiodun has not yet declared his interest formally in reelection.
Modele, true to stereotype about every other politician, has shown that no man can be a pure politician without being in the strictest sense a dupe.
Although she makes a show of being driven by a patriotic desire to serve the people of Ogun State, it is an open secret that Modele has submitted herself as an incendiary tool in the devices of disgruntled politicians, against Governor Abiodun.
Modele, while fielding questions from newsmen inside the Osoba Adire Kamapala International Market, Asero Abeokuta, shortly after declaring her ambition for the governorship office in 2023 on the platform of the All Progressives Congress (APC), said she wants to serve Ogun State and provide an enabling environment that would provide jobs to her burgeoning youths population, empower women and revitalise the economy.
“I want to be a transformative and inclusive leader and to make Ogun the state of choice for people to live, work and play because of the educational, economic, and cultural opportunities; safety, livability, vibrancy, and connectedness,” she said.
Modele, to the consternation of fellow top stalwarts in the All Progressives Congress (APC), chose to challenge the influence of her benefactor by rebelling against him to sate her abject lust for power and inducements from the anti-Abiodun camp.
While she frantically seeks justification for her action, sources within the party allege that Modele possesses no moral right to grandstand against a man who was solely responsible for her emergence against all odds, as a special adviser on his cabinet.
Billionaire Femi Otedola has made new nomination into First Bank barely two months after he became the single largest shareholder of the oldest commercial bank in the country. The magazine learnt that the businessman had earlier nominated two directors into the boards of the bank to promote his interests.
Otedola acquired over seven percent of the bank’s shares last year making him the biggest equity holder, which gave him the power to nominate candidates to the boards of First Bank Ltd and First Bank Holdings, FBN Holdings, the lender’s parent company.
On Tuesday, the management of the Nnamdi Okonkwo-led First Bank Holdings Plc disclosed that it has appointed Julius B. Omodayo-Owotuga as a non-executive director. Until his new appointment, Owotuga was the deputy chief executive of Geregu Power Plc, a company largely promoted by the Otedola.
Otedola who invested over $1 billion in the power firm in 2019, had last year, disclosed that he had no plan to become the chairman of the financial behemoth contrary to suggestions in the industry.
“I am simply an investor who saw an opportunity in the financial institution and decided to take advantage of it through the investment I have made. My interest, contrary to speculations is not to become chairman of the bank or its Holdco. Moreover, I am in semi-retirement,” the businessman said.
Tunde Hassan- Odukale is the curent chairman of FBN Holdings Plc.
In a statement posted on the Nigeria Exchange Limited, NGX on Tuesday, Seye Kosoko, FBN Holdings Secretary said the appointment of Owotuga has been approved by the Central Bank of Nigeria, CBN.
Omodayo-Owotuga
Kosoko said “Omodayo-Owotuga is the deputy chief executive of Geregu Power Plc previously Group Executive Director Finance & Risk Management of Forte Oil Plc (now Ardova Plc) has joined FBN Holdings Board as a Non-Executive Director,” the statement reads.
“JB is a finance expert with huge experience in Finance, Risk Management, Treasury, Internal Controls, General Administration, Procurement, and Information Technology. While at Forte, he was a member of the Executive Management Team that restructured a then moribund company into a vibrant industry player.
“He is a KPMG trained finance professional who possesses extensive investment experience spanning Financial Services, Power and Oil & Gas sectors with a proven track record of significant achievements. His two decades of work experience spans blue-chip companies such as KPMG; Standard Chartered Bank; Africa Finance Corporation (AFC); Forte Oil Plc, MBC International Bank (Now First Bank of Nigeria Limited), and Geregu Power Plc.
“JB is an alumnus of Oxford University’s Said Business School, United Kingdom, IE Business School, Madrid, Spain and the University of Lagos, Lagos, Nigeria. He has a B.Sc. in Accounting and a Masters in Business Administration (with distinction). He is a CFA Charter Holder; a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), the Chartered Institute of Taxation of Nigeria (CITN) and the Institute of Credit Administration.”
The National Leader of the All Progressives Congress (APC), Bola Tinubu has denied reports that he travelled to seek medical treatment in London, the United Kingdom.
On Friday, unconfirmed reports emerged that the APC chieftain travelled to London for his usual medical treatment over his failing health.
However, in a statement by his media aide, Tunde Rahman, the APC leader said he’s in “excellent spirits”, adding travelled to the UK for meetings and consultations, and that he will return to Nigeria next week.
The statement reads, “Asiwaju Tinubu is in fine health and excellent spirits. The speculations in a national newspaper and on social media are just what they are: unfounded and untrue speculations.”
“Asiwaju’s trip to the UK is not to rest or because of any illness. While abroad, Asiwaju is maintaining a vigorous schedule of meetings and consultations on a range of important matters.
“Whether at home or abroad, the daily schedule of Asiwaju is vibrant and full. Most people couldn’t sustain his high level of activity. Asiwaju will return to Nigeria next week once this set of meetings and talks abroad is completed.”
This is coming less than four months after Tinubu, who recently declared his presidential ambition, returned to Nigeria from a three-month medical trip to the United Kingdom where he had undergone knee surgery and “rigorous post-surgery physiotherapy”.
The Central Bank of Nigeria (CBN) has slashed its electronic transfer, ATM and card maintenance fees after reviewing the charges and rates for banking activities in the country.
In the CBN new “Guide to Charges by Banks Other Financial and Non-Financial,” the apex bank said the guideline applies to financial and non-financial institutions under its licence or regulation.
The guide shows that the CBN has reduced the charges on some transactions including Standing Order Charge (In-Branch); ATM Maninance Fees; Electronic Fund Transfers and Bulk Payments among others.
In the latest guideline, CBN said standing Standing Order Charge for intra-bank will be free compared to the N300 in the 2017 guideline.
For Interbank Transfers, the CBN cut the charges to a maximum of N50 per transaction compared to the N300 held in 2017.
Bills Payment (Including Bills Payment through other E-channels) is Negotiable subject to a maximum of N500 per beneficiary payable by sender, a review from the N1,200 or 0.75 per cent for a biller or merchant to pay.
Electronic Funds Transfer has also been reviewed downwards to N10 charge for a transaction below N5000; N26 for the transaction of N5001 to N50,000 while transactions above N50,000 will be charged N50.
Withdrawals on other banks’ ATMS have been reduced from N65 to N35 after the third withdrawal within the same month.
The CBN also reduced ATM Bill Payment from N100 to N50. Debit card maintenance charges that were N100/Month have been removed in the new guideline.
Last year, the CBN imposed an N6.98 service charge for customers using the Unstructured Supplementary Service Data services (USSD).
The Lagos State University has urged fast-rising artiste, Akinbiyi Abiola Ahmed aka Bella Shmurda to return to the institution to complete his degree programme.
On his birthday, the artiste had in a tweet said he dropped out of the school because he failed some courses.
However, the 25-yr-old artiste has become popular with his debut single, ‘Vision 2020’, the remix of which featured Olamide Adedeji aka Baddo.
Bella Smurda who has another hit single, ‘Cash App’ to his name says he is now worth 550millions streams.
He said he’s glad he left LASU for his music dream.
He tweeted: “I now worth over half a billion streams (550millions streams to be precise). I for still Dey lasu Dey wine and dine with carryovers and stranded with nothing in my pocket… forever glad I did my thing.”
Reacting to his tweet, the institution rated as the best state-owned university in Nigeria said it’s happy it played a part in Bella Shmurda’s story.
The school, however, urged him to return to the classroom to complete his degree programme.
LASU tweeted: Happy birthday@fineboybella. Glad you have come this far pursuing your dream. Also glad @LASUOfficial played a part in your beautiful story because Univ. dont make people rich, only incubate them to find and achieve purpose. BTW, please come back to class and earn your degree.
Meanwhile, a popular music promoter, Quadri Taoreed, better known as Kogbagidi, who graduated from the institution visited the school on Wednesday, January 26, 2022.
Kogbagidi was received by the institution’s Vice-Chancellor, Prof. Ibiyemi Olatunji-Bello and other principal officers at the VC’s office.
• Insists on prosecution of suspects in Osun • Lawyer fears charges against Adedoyin, others could be quashed in Abuja
The family of Timothy Adegoke, an MBA student of Obafemi Awolowo University, Ile-Ife, Osun State who died mysteriously at Hilton Hotel and Resort, yesterday retrieved his corpse for burial.
Our correspondent, who was at the premises of the Osun State Teaching Hospital, Osogbo, observed that the elder brother of the deceased, Gbade Adegoke, came with two clerics to retrieve the corpse from the hospital morgue.
They drove the corpse out of the premises of the hospital around 12:45 pm.
Gbade Adegoke, speaking with our correspondent, confirmed that the burial of his late brother was slated for today in Oyo State.
“There won’t be any problem in getting justice for my brother with his burial. The suspects will surely face the wrath of the law.”
The counsel to the family, Barrister Naim Adekilekun, expressed fear that the Federal High Court may quash the charge against Chief Ramon Adedoyin and other suspects.
Speaking with newsmen at Osun State University Teaching Hospital, Osogbo yesterday, Adekilekun said: “In a criminal prosecution, you don’t give a chance. The court must also have the prerequisite jurisdiction to enable the court to take out the judicial function.
“In this case, what is probable is that this charge could be quashed because of lack of jurisdiction, and if that is done, it would give the defence counsel an opportunity to get their clients off the hook, and that is not what we want in this case.
“What the police need to do is to transfer the case file to the Ministry of Justice, Osun State and the needful will be done.
“If our complaint is looked into by the IGP, that charge will be withdrawn.
“It will be preemptive of us to be talking about the charge now. Our petition has been submitted to IGP and we will go to Abuja to see him or possibly the CP legal who is in charge of the prosecution.”
Adekilekun insisted that the suspects arrested in connection with the death of Adegoke should be prosecuted in Osun State and not at the High Court of the Federal Capital Territory, Abuja.
He said: “As we are preparing for the prosecution of the suspects arrested in connection with this murder, we wish to state that it has filtered to us that the police in Abuja is ready to prefer charges against the suspects in respect of this case at the High Court of the Federal Capital Territory, Abuja.
“It must be stated here that the family never doubted the competence of the police to prosecute this case to a logical conclusion. But as the Solicitors to the family, we have our reservations for the prosecution of this case at the High Court of the Federal Capital Territory Abuja.
“To start with, in criminal prosecution, the court in the territorial jurisdiction of the area of the alleged crime will be seized of the case and nothing more, though this may not be the case of some Federal offences triable at the Federal High Court of any judicial Division.
“And the reason is not far-fetched. This can be traced to the fact that the law recognises Federal High Court of Nigeria to be one and single court irrespective of the division.
“As it stands now, the Administration of Criminal Justice Act is the law that guides the prosecution of crimes at the Federal High Court in Nigeria and other offences punishable in the Federal Capital Territory, Abuja. This law provides the framework for criminal litigation in those courts where it is applicable. We are of the firm view that since none of the elements of the offence to be tried by the High Court of the Federal Capital Territory happened or took place in the Federal Capital Territory, we shall be demanding that the case be tried at the High Court of Osun State, being the court with the requisite jurisdiction to try the case.
“There is nothing in Section 93 (1) and (2) of the Administration of Criminal Justice Act that can make the police act otherwise.”
Olujonwo, son of former President Olusegun Obasanjo, has pledged to support Vice-President Yemi Osinbajo (SAN) if he joins the 2023 presidential race.
The Special Adviser to the President on Political Matters, Babafemi Ojudu, made this known in a Facebook post on Saturday.
According to Ojudu, Olujonwo visited him on Friday to register his wish that the VP should run for President in 2023.
Ojudu, who works in the VP’s office, wrote, “Olujonwo Obasanjo, son of former President Olusegun Obasanjo, visited yesterday (Friday).
“He too, like many others, came to register his wish and aspiration that Vice President Yemi Osinbajo throws his hat in the rings for the 2023 contest.
“Smart and brimming with ideas, he promised that if Osinbajo heeds the call of Nigerians he will be willing and ready to volunteer to join the campaign train.
“Thank you Olu. I will pass your message across.”
Ojudu said he had been receiving threat messages from “irritants” for declaring that he won’t support the presidential ambition of All Progressives Congress National Leader, Bola Tinubu.
Ojudu had stressed that his decision not to support Tinubu was based on personal conviction, adding that any coercion to do otherwise would not be democratic.
In an earlier statement, Ojudu had said that his refusal to support the presidential aspiration of the former Lagos State governor should not portray him as a betrayer.
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“The idea that everyone who has related with Tinubu and disagrees with him on this Presidential bid is a traitor and a betrayal is puerile. Many of us, his associates, were not made by him as you also want the world to believe.
“We were already made before meeting him and in the cause of relating we gave one another a helping hand… So, on this matter of 2023 I wish him (Tinubu) well but I cannot in good conscience give him my support or cast my vote for him in the coming primary. It is my right. I am above 60 years of age for God sake. I almost died seeking this inalienable democratic rights, held up in detention and severally tortured. Your god is not my god,” he had said.
Osinbajo was Lagos Commissioner for Justice and Attorney General from 1999 to 2007 when Tinubu was governor.
Tinubu had reportedly nominated Osinbajo to be the running mate of Major General Muhammadu Buhari (retd) in the buildup to the 2015 election.
Tinubu and Osinbajo were last seen together in public in late 2021 when the former returned from the United Kingdom where he underwent surgery and therapy for knee surgery.
Though Tinubu subsequently declared his intention to run for the exalted office on January 10, 2022, Osinbajo has not declared whether he would be running or not but his supporters have been urging him to do so and mounting campaign billboards in strategic places all over the country.
