Nigeria generated N424.71bn VAT in Q3 —NBS – Newstrends
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Nigeria generated N424.71bn VAT in Q3 —NBS

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The National Bureau of Statistics on Monday said the sectoral distribution of Value Added Tax data for the third quarter of 2020 reflected that the sum of N424.71bn was generated as VAT in Q3 2020.

This was against N327.20bn generated in Q2 2020 and N275.12bn generated in Q3 2019.

It said the third quarter VAT represents 29.8 per cent increase quarter-on-quarter and 54.37 per cent increase year-on-year.

“Other manufacturing generated the highest amount of VAT with N47.07bn generated,” the bureau said in its report.

This, it said, was closely followed by professional services, which generated N44.01bn.

It said commercial and trading generated N21.18bn, while mining generated the least.

Mining was closely followed by textile and garment industry and pharmaceutical, soaps and toiletries with N64.50m, N346.27m and N386.16m respectively.

The bureau stated that out of the total amount generated in Q3 2020, N214.66bn was generated as non-import VAT locally.

It said N115.34bn was generated as non-import VAT for foreign.

The NBS report stated that the balance of N94.70bn was generated as Nigerian Customs Service-Import

Source: www.informationng.com

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Late COAS Lagbaja gets CFR honour, buried amid tributes 

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Late COAS Lagbaja gets CFR honour, buried amid tributes 

 

The late Chief of Army Staff (COAS), Lt. General Taoreed Lagbaja, was on Friday laid to rest in Abuja, amid tears and tributes.

President Bola Tinubu conferred a posthumous award of the Commander of the Federal Republic (CFR) on the late Chief of Army Staff.

The burial took place at the National Cemetery in Abuja to end two days of funeral rites that began in Lagos earlier in the week.

His body was lowered into the grave at exactly 4:41pm after the ceremony that lasted over two hours.

Lagbaja’s casket, draped in Nigeria’s green and white colours, arrived at the cemetery around 3pm in a white funeral wagon after a funeral service at the National Christian Centre in Abuja.

Dignitaries were led to the event by President Bola Tinubu. Others are Vice President Kashim Shettima; the Acting Chief of Army Staff, Lt.Gen. Olufemi Oluyede; the Chief of Defence Staff, Gen. Christopher Musa; Minister of Defence, Abubakar Badaru, and other top government officials and military brass.

President Tinubu announced the conferment of the CFR on the late COAS during the interment at the National Cemetery in Abuja.

The President extolled the virtues of the late warrior, especially his contributions to national security.

According to him, the appointment of Lagbaja as the COAS was one of his finest made so far.

“As an eternal symbol of our appreciation, I have granted the late Chief of Army Staff, the posthumous national honour of the Commander of the Federal Republic of the Niger (CFR),” Tinubu declared.

He thereafter invited the wife of the late COAS, Mariya, to collect the award on behalf of the Lagbaja family amid applause from the congregation.

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Supreme Court dismisses 16 govs suit challenging EFCC legality

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Supreme Court dismisses 16 govs suit challenging EFCC legality

The Supreme Court has dismissed the suit by 16 states challenging the constitutionality of the acts establishing the Economic and Financial Crimes Commission and two others.

The News Agency of Nigeria (NAN) reports that the other agencies are the Independent Corrupt Practices and other related offences Commission (ICPC) and the Nigerian Financial Intelligence Unit (NFIU).

In the lead judgment by Justice Uwani Abba-Aji delivered on Friday, the Supreme Court resolved the six issues raised for determination in the suit against the plaintiffs.

The court held that the laws establishing the anti-corruption agencies were validly enacted by the National Assembly within its legislative competence.

It faulted the claim by the plaintiffs that the EFCC Act, being a product of the United Nations convention on corruption, ought to be ratified by majority of the state houses of assembly.

Delivering judgement on Friday, Justice Abba-Aji ruled that “the EFCC Act, which was not established from a treaty but a convention, does not need the ratification of the houses of assembly.”

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Executive Secretary FCDA Hadi Ahmad suspended indefinitely

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Executive Secretary FCDA Hadi Ahmad suspended indefinitely

 

Executive Secretary, Federal Capital Development Authority FCDA, Engr. Shehu Hadi Ahmad, has been suspended indefinitely.

His suspicion was on the order of the Minister of the Federal Capital Territory, Nyesom Wike.

Senior Special Assistant on Public Communications and New Media to the Minister, Lere Olayinka, disclosed this in a statement on Thursday evening.

No reason was given for the suspension.

Ahmad was directed to hand over to the Director, Engineering Services in the FCDA.

The statement read: “The Executive Secretary, Federal Capital Development Authority FCDA, Engr. Shehu Hadi Ahmad, has been suspended indefinitely.

“According to a statement on Thursday, by Lere Olayinka, Senior Special Assistant on Public Communications and New Media to the Minister of Federal Capital Territory FCT, Nyesom Wike, the suspension of Engr Hadi Ahmad is with immediate effect.

“The suspended Executive Secretary has consequently been directed to hand over to the Director of Engineering Services, Engr in the FCDA.”

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