Category: 📃Supers News

Rivers State Governor, Siminalayi Fubara, has assured the people of the state that his administration will collaborate and continue to consult widely in delivering a liberated state experiencing enduring peace.

The governor said in doing so, he would not operate as a dictator, but as a member of a team that has the best interest of the state at heart and is determined to leave a lasting legacy that can be celebrated.

The governor spoke during the presentation of the Certificate of Recognition and Staff of Office to the Amanyanabo of Okochiri Kingdom, Ateke Michael Tom, as first-class tradition ruler, at the Government House in Port Harcourt on Tuesday.

This was contained in a statement issued in Port Harcourt on Tuesday by the Chief Press Secretary to the Governor, Nelson Chukwudi.

Fubara stated that during the sixth State Executive Council meeting, N80.8 bn was approved with 50 per cent contract value paid already as the government awarded the construction of the Elele-Egbeda-Omoku Road.

He said the project will be funded from the savings from Internally Generated Revenue to underscore his administration’s prudence without also borrowing to complete the project.

Fubara said, “We are at a crossroads in our state where we all need to stand for what is right. It happens once in a lifetime. So, for now, be one of those people who will be on the course to liberate and free our dear state.

“And I know strongly that having the support of a peace-loving Amanyanabo of Okochiri Kingdom, having the support of the wonderful Council of Chiefs, having the support of the great people of Rivers State, we will bring peace in our state.

“We will do those things that are right to develop our state. We will continue to consult. We will not act as dictators. We will act as people who know that one day, we will leave, and when we leave, the way we have acted will speak for us.”

Continuing, he said, ” We will not force people to talk good about us. Our legacy will be a signature for how we led.”

Fubara explained that he acted within the ambit of the law to upgrade the traditional stool upon which King Ateke Tom sits in recognition of his efforts in promoting peace in Okrika, and indeed, the state, and urged him to continue to do justice to everyone.

In his speech, the Commissioner for Chieftaincy and Community Affairs, Charles Amadi, congratulated King Ateke Tom.

Also speaking, former Minister of Transportation, Chief Abiye Sekibo, thanked Fubara for fulfilling his promise of upgrading the traditional stool of Okochiri Kingdom, and pledged the support of Kirike people for his administration.

The Federal Inland Revenue Service has said that the Federal Government is eyeing a Value Added Tax of N5 trillion in 2024 while also putting mechanisms in place to close identified tax gaps.

It also said that the FG was ready to align with the Economic Community of West Africa State’s directive on tax reform.

The Chairman of the FIRS, Zacch Adedeji, said this at a press conference organised by the Support Programme for Tax Transactions in West Africa, a programme supported by the European Union and ECOWAS in Abuja on Thursday.

The chairman, represented by an official of the agency, Mr Matthew Osanekwe said the VAT has been on the increase since 2019 quoting N1.9trn, N1.5trn, N2.5trn, N2.3trn and 3.6trn in 2019, 2020, 2021, 2022 and 2023 respectively.

He added that the government is aligning with Aeticle 30 of the ECOWAS on tax reforms.

Article 30 of ECOWAS VAT reform states that, “Each member state shall have the liberty to fix the VAT rate applicable to taxable operations within a bracket ranging between 5 and 20 0/0. However, member states could establish a reduced rate whose scope and rate shall be determined by the Council of Ministers.”

Earlier, the FIRS said the apex government expects N19.41trn revenue from the FIRS in 2024.

This target represents an increase of 56.91 per cent from the previous year’s actual and 67.91 per cent from the previous year’s target.

“The VAT rate shall also be applicable to merchandise and services produced locally as well as taxable goods imported with the exclusion of the export of goods or equivalent, which are operations submitted to zero tax,” he said.

Osanekwe said there was a discussion at the National Assembly to pass the VAT reform into law, after which, it is expected that the VAT would increase to about N5trn from the current N3.6trn.

“From 2019, VAT has improved significantly in the country. As you can notice, there is a trajectory of increase. What we are doing at the FIRS is to look at issues of policy. Nigeria VAT was at five per cent and then reviewed to seven per cent after some policy recommendations.

“We are also aligning with ECOWAS directive on Article 30. The work is ongoing, and very soon, we will call on stakeholders when necessary. Another thing we are doing is to expand the scope of the VAT collection in the country. We now collect tax from non-resident resource suppliers like Google, Amazon, etc. We also use collection agents like the Deposit Money Banks and telecommunication companies.

“The report of the programme we had with PATF was sent to the FIRS management, and the recommendations have been adopted. For instance, for us to move from the Net Profit method to the Full Consumption method of tax collection is work in progress according to article 10. Since we are allowed to set our threshold, according to Article 30.

“We have discovered some VAT gaps, and we are working with the United Nations Development Programme to train out workers on VAT gap analysis. Once that is completed, we look forward to a VAT of about N5trn in 2024,” he added.

Also speaking at the conference, the Head of cooperation of the European Union Delegation to Nigeria, Mr. Massimo De Luca, reiterated the EU/ECOWAS stands on Nigeria VAT, stating that it remains low because citizens passive misuse of resources on the part of the government.

He expressed satisfaction with the PATF and said it is optimistic that VAT will work in Nigeria.

“Tax in NIgeria remain very low compared to other regions countries in the region. Citizens perceive that the taxes they pay are not being judiciously utilized and, hence, are reluctant to pay additional money on VAT. We are happy with the project carried out by PATF, and we are looking at sustaining efforts in the future. There is much to be done in terms of improving VAT in Nigeria,” he said.

Also Speaking at the conference, the representative of PATF, Mr Andrew Onyeanakwe, noted that the overall aim of PATF is to implement the Fiscal Transition Programme in West Africa, following the implementation of regional trade liberalization policies and to strengthen the domestic tax revenue mobilization capacities of ECOWAS member states and Mauritania.

Some of the achievement of the PATF highlighted by Onyenakwe, representative of PATF in Nigeria include: Development of Regional Tax Management Tools; Directive C/DIR.4/07/23 on the harmonization of the methodology for evaluating tax expenditure in ECOWAS Member States; Directive C/DIR. 5/07/23 Establishing the institutional mechanism for monitoring and evaluating ECOWAS Fiscal Transition.

Telecommunication companies (NCC) will disconnect more Subscriber Identity Module (SIM) numbers not linked to National Identification Numbers (NIN) on Friday, March 29, 2024, the Nigeria Communications Commission has said.

The Director of Public Publicity at the NCC, Reuben Mouka, told The PUNCH on a telephone call that that there would be no changes to the deadline for the next phase of disconnection

The NCC’s directive for disconnection is being rolled out in stages, with the second phase set for March 29, 2024, continuing as previously announced.

The initial phase took place on February 28, 2024. Subsequently, whilethe third phase is slated to begin on April 15, 2024.

“We issued a publication that you can refer to. We specified certain deadlines and stipulated that subscribers who do not comply with the directive would be barred. And that has not changed.”

Mouka said at the last deadline on February 28, 2024, about 40 million lines that were not linked to NIN were barred.

MTN Nigeria reported that over 4.2 million lines were disconnected from its network after the February 28 deadline.

The NCC has reiterated its commitment to enforcing regulatory measures aimed at enhancing security and regulatory compliance within the telecommunications sector.

The SIM-NIN linkage initiative is a crucial step towards improving the integrity of subscriber data and enhancing security measures within the telecommunications industry.

The NIN-SIM linkage policy was initially introduced by the Nigerian government in December 2020. This directive requires all telephone line users in Nigeria to associate their SIM cards with their NIN.

In December of the previous year, the NCC issued a directive stipulating that all telecommunications operators in Nigeria, including major providers like MTN, Airtel, and Globacom, among others, must enforce complete network barring on all phone lines for which subscribers have not provided their NINs by February 28, 2024.

Barely two weeks ago, the Socio-Economic Rights and Accountability Project issued a warning to take legal action against the NCC if it did not revoke the directive instructing network providers to block the phone lines of individuals who have not linked their SIM cards to their NINs.

In an open letter addressed to the Chief Executive Officer of NCC, Aminu Maida, SERAP emphasised the necessity for further consultation and the establishment of an efficient process to enable Nigerians who have yet to link their SIM cards to their NINs to do so.

Dated March 9, 2024, and signed by the Deputy Director of SERAP, Kolawole Oluwadare, the letter condemned the directive to network providers, asserting that it constitutes a severe infringement on citizens’ rights to freedom of expression, information, and privacy.

Last week, the National Identity Management Commission and the NCC issued a joint statement unveiling a strategic partnership aimed at simplifying the NIN-SIM linkage procedures for telecommunications subscribers nationwide.

Both agencies reaffirmed their dedication to enhancing the processes involved and improving efficiency regarding the NIN and SIM card linkage initiative.

They acknowledge the importance of this initiative in bolstering security measures and enhancing service delivery across the country.

Last December, the Central Bank of Nigeria announced its intention to freeze accounts lacking a BVN, or NIN, starting April 2024.

It also mandated that all BVNs or NINs linked to accounts or wallets be electronically revalidated by January 31, 2024.

Since the issuance of this directive by the apex bank, deposit money banks have been actively utilizing their communication platforms to urge customers to update their NIN and BVN details.

In the circular by the CBN, it instructed banks to place a “Post no Debit” restriction – which prevents customers from making withdrawals, transfers, or any other debits “for all existing Tier-1 accounts/wallets without BVN or NIN.”.

‘Post No Debit’ is a term used to describe a restriction imposed by banks on specific accounts, preventing customers from making withdrawals, transfers, or any other debits from such accounts.

“Effective immediately, any unfunded account/wallet shall be placed on ‘Post No Debit or Credit’ until the new process is satisfied. Effective March 1, 2024, all funded accounts or wallets shall be placed on ‘Post No Debit or Credit’ and no further transactions permitted.”