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Kogi not getting 5% of revenue from road taxes say KGIRS as it declares N1B in Decembe

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Kogi not getting 5% of revenue from road taxes say KGIRS as it declares N1B in December

Kogi State Internal Revenue Service(KGIRS) has decried the excessive leakages from road taxes revenue due to idle funds and lack of expansion of its revenue base to cover all nooks and crannies of the State.
The Chairman of the revenue service Alhaji Yakubu Oseni who made this disclosure during the commissioning of Drivers License Centers in Okene and Kabba said the ante of its revenue profile was raised to N1B in December 2016
“We noticed that in Kogi State we don’t get up to 5% meaning that we have a lot of idle funds. We discovered that many of the State motorists go to neighboring states for vehicle particulars and drivers license.”
“It is noteworthy for us as a State to harness all the possible revenues from the road taxes so we decided to take the road sector seriously because our money is lying idle and we are actually losing a lot of revenue in the road sector.”
Oseni indicated that with their new drive towards getting all revenue from road taxes before the end of the year the service would have up the ante in road taxes to 50% as against less than 5% before they came on board and as time goes by the gap would be closed.
He said there have been a lot of sharp practices as in fake particulars, license and others.
“We are putting all measures in place to arrest that trend because they are sources of leakages.
According to him, the N9B benchmark ordered by the Governor is achievable going by their new strategies in blocking leakages.
“If you take a look at where we picked the revenue from as low as N300, 000 monthly if we are able to push it to N1B within 7 months the Governors tall order of N9B is not out of our reach, it is achievable because we have the human resources and every other necessity at our disposal to achieve that and sponsor the budget internally.
“The environment is there, we achieved the N1B by merely blocking leakages and a little back duty assessment.”
He said what they have in stock has not yet been unveiled saying that the time the Revenue Harmonisation bill before the State House of Assembly is passed then the sky would be their limit.
He commended the Federal Road Safety Corps in particular for taking the issues seriously and supplying the necessary equipments.
According to him, the were moving next to the creation of awareness to sensitize the people for them to know that the office exists for them to make use of.
Having established the Driver License Center in Kabba and Okene they were going to extend it to Anyigba very soon to bring the driver license center to the grassroots so that they don’t need to travel as far as Lokoja and the neighbouring State again.
“With that the needed revenue would be tapped and leakages would be blocked.
He appealed to the public to stop patronising fake drivers license because it is more expensive and it is more dangerous to the society.
“The original is subsidised by Government and people need the original. Original license can not be compared to fake and if you are patronising fake license you are also a fake person so stop patronising fake license for your own sake and that of the society and for blocking of the leakages.”
He advice tax payers to pay up as their taxes would be used for their benefits as against in the past when they money was being diverted to pockets of individuals whereby they don’t see the effect on ground.
he said the revenue profile of the State had been flat because there were a lot of leakages. “The new administration has given us some hope you can see the quality of projects. The type of job done on the revenue House would tell you that the Government really mean business. “So I am advising the public to pay up their taxes, by the time you pay, you will have the mouth to ask Government where is our money and this Government is ready to show you this is your money.”

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Senate panel unravels N443bn subsidy scam by NNPC

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Senate panel unravels N443bn subsidy scam by NNPC

The Senate Committee on Public Accounts on Wednesday uncovered a scam involving N443B by the Nigerian National Petroleum Corporation (NNPC) which allegedly lavished the money on oil subsidy in 2016 without budgetary provision.

The panel, therefore, summoned the leadership of the nations oil firm to brief it on the expenditure.

The committee’s chairman, Senator Matthew Urhoghide, issued the summon yesterday when the panel considered a 2016 report by the Auditor-General for the Federation.

“During the examination of subsidy records provided by Federation Account Allocation Committee (FAAC), it was observed that total subsidy paid during the year 2016 was N443,940,559,974.80,” the audit report.

The breakdown of the fund showed that N403.3 billion was paid to oil marketers, while interest & foreign exchange differential gulped N40.6 billion, totalling N443.9 billion.

The fund, according to the report, was spent in 2016 without budgetary provision and was deducted at source.

“This reflects continuing weaknesses in the budgeting process adopted by the Federal Government,” it added.

Responding to the audit report, the Accountant General of the Federation, Ahmed Idris, told the committee that the NNPC would be in better position to explain the extra-budgetary spending.

The Chairman of the committee, Senator Matthew Urhoghide summoned the NNPC Group Managing Director, Melee Kyari to give explanation on the expenditure.

In a related development, the committee also summoned the Central Bank of Nigeria over alleged disappearance of $9.5 million interest from Investment Petroleum Profit Tax (PPT), Royalty and Foreign Excess Crude.

The invitation of the Apex Bank in the country was sequel to the 2016 Auditor General Report which accused the Central Bank of Nigeria failing to present documents supporting the investment for verification.

The Senate observed no letter supporting the investment of the fund and the actual amount invested were not made known.

The Query reads, “During the examination of transfers to Forefinger Excess PPT/Royalty and Foreign Excess Crude Accounts it was observed that during the year 2016, amount totalling $6 million and $3.5 million were credited to the Foreign PPT/Royalty and Foreign Excess Crude Account as interest on Funds investments.

“The authority for placing the funds which yielded the above interests totaling $9.5 in deposit account, the principal sums deposited, the tenor and rate of interest were no made available for audit verification.

“This observation had also been a subject of my reprts since 2017 without any positive response from Central Bank of Nigeria

“Records made available for audit further revealed that the balance in the foreign PPT/Royaltt and Foreign Excess Crude a accounts as at 28th December 2016 were USD0.00 and USD, 251,826 respectively

“This suggest the foreign PPT/Royalthy was depleted before the year end.

“The Accountant General has been requested to provide the authority for the funds invested, tenor of the investment, rate unrest payable, certficate for the funds invested and forward same for audit verification.”

The Chairman of the Committee, Senator Mathew Urhoghide however asked the Accountant General of the Federation, to respond to issue raised in the Auditor General Report.

The Accountant General was unable to present any document on the issue raised by the Committee.

He further told the lawmakers that the Office of Accountant General has sent a letter to the Central Bank of Nigeria for clarification on the issue raised.

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FG declares its readiness to deploy 5G network after precautionary measures

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FG declares its readiness to deploy 5G network after precautionary measures

By Aminci Audu

The minister of communications and Digital Economy Isah Ali Pantami has declared that Nigeria is ready for 5th Generation Network (5G) as long as the major challenges are taken care of.

Pantami spoke yesterday, at a one day investigative hearing on the present status of 5G network organised by the joint Senate committee on communication, sScience and Technology, ICT and Cybercrime and Primary Healthcare and Communicable Diseases.

The minister in his presentation allayed the fear among Nigerians over the planned deployment of the network saying the Federal Government has taken all necessary precautions by investigating through research and trial on all issues raised.

He said “The position is that we are almost at the final stage. So now, Nigeria is ready for 5G as long as we address the major challenges.”

“We have not gotten there, wether we will deploy 5G but we are on track conducting research, investigations, engaging stakeholders and definitely if all issues are addressed, the executive will support the deployment of 5G in Nigeria.”

He noted that so far no negative impacts has been established from the research and trial carried both locally and at the international level. 

On the speculation that the 5G network escalated the COVID-19 he said there is no link between 5G and COVID-19.
“And there is no relationship between 5G and any desease. The only issue being raised usually is about radiation.  But people don’t realise that the radiation of 4G is more harmful than that of 5G. 
“The radiation of microwave oven at home is more harmful than that of the 5G. The radiation of even the smart phone itself is even more harmful that that of 5G

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SELF backs Sylva over choice of Saipem on Bonny NLNG Train 7 contract

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SELF backs Sylva over choice of Saipem on Bonny NLNG Train 7 contract

The South-south Emerging Leaders Forum (SELF) has faulted allegations of wrong doing leveled against the Minister of State for Petroleum Chief Timipre Sylva over the choice of Saipem, an Italian firm to handle the Bonny NLNG Train 7 contract.

SELF in a statement argued that the deal also endorsed by the Executive Secretary of the Nigerian Local Content Board Engr. Simbi Wabote was in the best interest of the country.

SELF position was in response to an online publication which accused the duo of bribe taking running into millions of naira in the deal.

SELF warned the publisher of the medium , Mr Jackson Ude, to desist from blackmailing leaders of the South-south extraction in a bid to score political goals.

Urging the Publisher of the online medium to show proof his allegation, SELF noted: “We strongly condemn the allegation leveled by Pointblanknews.com and its sponsors, this is highly condemnable and viewed as a sponsored plot to instigate hate against the Minister and derail his concentrations.

“This is ridiculous and belittling of Jackson Ude, the face behind this blackmail for being petty to the ground level for publishing tissues of lies about the persons of Timipre Sylva and Simbi Wabote.

“Nigerians should not believe this and throw it into the dust bin. It’s incumbent on all well-meaning Nigerians to support the positive drive of Minister and collaborate with him, towards the actualization of the onerous task at stake.

“Although Jackson Ude and his medium Pointblanknews.com are criminally known for thriving in the business of blackmail, especially against the officeholders from the Niger Delta region. But this forum will henceforth resist this criminality by deploying all known instrumental of law to fight the faces behind these tissues of lies.

“This Forum is using this medium to warn the likes of Jackson Ude to stay away from Nigeria and the South-south most especially if they are not ready to turn a new leaf because the business of blackmail has long become outdated and unpopular.”

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