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2020 Budget: Nigerian Senate approves N168.8 billion for FIRS

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Nigerian Senate budget for 2020 FIRS

2020 Budget: Nigerian Senate approves N168.8 billion for FIRS

The Nigerian Senate has approved N168 billion for Federal Inland Revenue Service (FIRS) for the year 2020, this is to fund the personnel, overhead, and capital expenditure of FIRS.

The approval was made after the Senate considered the report of its committee on finance, presented by the chairman, Solomon Olamilekan (APC, Lagos West).

In his presentation, Mr Adeola narrated the budget performance of the FIRS and gave a summary of the 2020 proposed budget.

The committee, he said, observed that “the FIRS operates below the line account used for tax refund and support for the construction of the head office.”

“The committee also frowned at the unnecessary delay in submitting the budget for 2020. However, the current executive chairman explained that they took over the leadership of FIRS in November/December and the budget for 2020 was not ready as at then. And Covid-19 was also responsible for the delay.”

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A breakdown of the approved 2020 budget is as follows:

*N1.56 trillion was projected for Oil revenue;

*N4.502 from Non-Oil revenue;

*N180.086 billion projected for four per cent cost of collection;

*N11.279 billion as projected two per cent Cost of Collection ceded to the Nigeria Customs Service;

*N168.80 Net projected four per cent Cost of Collection available rose FIRS to be appropriated by NASS; and

*Value Added Tax (VAT) at 7.5 per cent.

The Senate, thereafter, called for the digitisation of all processes in the administration of tax in FIRS, so as to bring the service up-to-speed with rapidly increasing online economic activities.

Other approvals

It also approved a one-off special-purpose intervention fund of N100 billion to assist the FIRS to complete its head office within 12 months; six training schools; 30 prototype tax operations office; purpose-built facilities for efficient taxation of upstream petroleum industry and ICT infrastructure to identify and track digital transactions.

The lawmakers said the budget for the fiscal year must terminate on December 31, 2020.

It said, henceforth, the budget of the FIRS for any financial year must be approved by the National Assembly “by the end of October of a preceding year – to ensure strict compliance with the January to December financial year.”

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Naija News

Plateau begins trial of 300 suspected looters

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Looters

The Plateau State Government on Wednesday begun the prosecution of over 300 suspected looters and arsonists in the state.
They were accused of looting, criminal trespass and inciting public disturbance, among other charges.
The suspects, who had been in military and police detention after they were arrested in different parts of Jos and the Bukuru metropolis between Saturday and Sunday, were moved to the Bassa Local Government Area on Wednesday for arraignment.

The defendants were arraigned one after the other at Jebbu Bassa Area Court before several judges including Justices N S Dashe, Adar Roseline Baraje, and L B Longs as well as Lawal Sulaiman, among others.

In all the cases brought before the judges, the prosecutors from the state Ministry of Justice told the court that the accused persons committed the offences against the state and should be prosecuted according to the law.
The defence counsels, however, pleaded with the court to temper justice with mercy for the accused persons, particularly as they were first offenders.
The defence counsels also pleaded for short sentencing with an option of fine after their clients pleaded guilty to the offences.

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Customs Corner

Nigeria Customs office adamawa Under attack by hoodlums

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Suspected Hoodlums, on Monday, looted Adamawa Custom Office, the eye witness said hoodlums where seen in their numbers breaking anything that stand in their way, carting away consumable and non-consumable items.

 

residents of Lagos and Ogun state turn vigilantes  as hoodlums raids

nigeria customs checkpoint at agbara attacked by suspected hoodlums/

attack on akbc and facilities in uyo watch video

lagos task-force arrests hoodlums cultists seize motorcycles

 

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Naija News

NBC Fines Channels, AIT, Arise TV Over #EndSARS Coverage

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The National Broadcasting Commission, NBC, has sanctioned Africa Independent Television, AIT, Arise Television, and Channels Television for what it called a gross violation of the broadcast code, top of which is the use of unverifiable online video footages on social media.

The sanction, according to the Acting Director-General of the Commission, Armstrong Idachaba, will be a fine not less than two million Naira.

He warned that this will be the last warning before a heavier sanction will be introduced.

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The #COVID19Nigeria situation report for 21st July, 2020 has been published. Our daily reports provide a summary of the epidemiological situation & response activities in Nigeria

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The African Union and Africa CDC will virtually rollout the Partnership to Accelerate COVID-19 Testing (PACT) in Africa tomorrow 4 June, 2020 at 11.00 am Eastern Africa Time.

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"Also found worthy of honour was Bashir Abubakar, an Asst Comptroller-General of Customs, who rejected a bribe of $412,000 per container offered him by drug traffickers seeking to bring 40 containers of Tramadol into Nigeria. A fine example of incorruptibility, worthy of emulation"

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