Senate committee concludes deliberations on tax reform bills

The Senate is reportedly preparing to hold a public hearing on the Tax Reform Bills, with the goal of advancing them for a third reading and eventual passage.

This move comes after a closed-door session of the Senate Ad-hoc Committee on Tax Reform, which included key government officials such as the Attorney General of the Federation, Lateef Fagbemi (SAN), Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, and Chairman of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Bello Shehu.

The Senate Ad-hoc Committee on Tax Reform, led by Senator Abba Moro, was formed in December last year to address contentious issues surrounding the proposed tax legislation.

Senator Moro confirmed that significant progress has been made, signaling that the bills are now closer to being finalized.

READ ALSO:

• Rivers court annuls state PDP congresses
• Man City coach, Guardiola, splits from wife after 30 years
• Wildfires: Hollywood actress Dalyce Curry’s body found burnt in Los Angeles home

“We have reached some agreements after thorough discussions with government officials. Our goal is to synthesize the entire process to deliver a law that meets the needs of all Nigerians,” Moro stated.

He expressed optimism that the committee would soon finalize its work, paving the way for the bills to be presented for passage.

“By the time we meet again, we will have a better story to tell,” he said.

FIRS Chairman Zacch Adedeji also expressed confidence in the progress made, indicating that previously contentious issues had been resolved.

“The so-called grey areas were discussed and clarified. We are now moving in the right direction, and there won’t be a need for further meetings. All issues have been identified, clarified, and resolutions have been made,” Adedeji said.

He affirmed that there was a consensus among all stakeholders on the necessity of the proposed tax laws.

“Everyone agreed that Nigeria needs these laws. Today, we saw the framework of the law come together, with the Attorney General, lawmakers, and operators all on the same page,” he concluded.

The committee’s efforts mark a significant step towards overhauling Nigeria’s tax system, with the reforms expected to enhance revenue collection and create a more efficient tax framework.

Senate committee concludes deliberations on tax reform bills

Five Katsina tax officials arrested over N1.3bn fraud

The Economic and Financial Crimes Commission (EFCC), Kano Zonal Command have arrested five officials of the Katsina State Board of Internal Revenue over alleged diversion of N1,294,337,676.53 (One Billion, Two Hundred and Ninety Four Million, Three Hundred and Thirty Seven Thousand, Six Hundred and Seventy Six Naira, Fifty Three Kobo) belonging to the Katsina State Government.

Dele Oyewale, EFCC spokesman on Monday revealed this in statement.

The suspects are, Rabiu Abdullahi, Sanusi Mohammed Yaro, Ibrahim M. Kofar Soro, Ibrahim Aliyu and Nura Lawal Kofar Sauri.

They were arrested following a petition from the Katsina state government alleging that the suspects colluded and diverted the sum of N1,294,337,676.53) accruing to the state from the World Health Organization, Medicins Sans Frontiers, Alliance for International Medical Action, ALIMA.

READ ALSO:

• Another fuel price hike coming as depot cost now N950/litre
• Inspector missing after police encounter with sea pirates in A’Ibom
• UBA gifts customers N41m in final edition of Legacy promo

Preliminary investigation by the Commission showed that Rabiu Abdullahi, a former Director of Collections of the Board and current Permanent Secretary of the Board authorized the opening of a a bank account in the name of ”BOIRS” at Sterling bank where he allegedly designated Sanusi Mohammed Yaro, Director of Revenue Account and Ibrahim M. Kofar Soro as sole signatories to the account. Subsequently, the account became the primary channel through which all the funds were allegedly funneled to the main beneficiary NADIKKO General Suppliers, a company owned and controlled by Nura Lawal Kofar Sauri, an Assistant Director of Career Skills/Staff Welfare of the Board.

Investigation further revealed that Nura Lawal and his company ”NADIKKO” became the principal conduits used to launder the stolen funds. These laundered funds were traced to the various bank accounts of the suspects.

The suspects are currently being detained at the Kano Zonal Command of the EFCC.

They will be charged to court upon conclusion of investigations.

Five Katsina tax officials arrested over N1.3bn fraud

Inspector missing after police encounter with sea pirates in A’Ibom

AKWA Ibom State Police Command have declared one operative missing and two injured during a gun duel with suspected sea pirates dressed in military camouflage along the Oron-Calabar waterways corridor.