Tag: FIRS

Alleged N5bn fraud: EFCC arrests former FIRS Chairman, Fowler

Aminu Imam

The Economic and Financial Crimes Commission, (EFCC) has arrested a former Chairman of the Federal Inland Revenue Service,(FIRS)Babatunde Fowler, over an alleged N5bn fraud perpetrated under his watch.  Fowler , a long-time ally of the national leader of the All Progressives Congress,(APC) Bola Ahmed Tinubu, is currently being interrogated at the Lagos office of the EFCC.  Apara stated that Alpha Beta “has become an avenue for official corruption of government officials, a conduit pipe for massive money-laundering scheme, tax evasion, among other vices. 

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Revenue Generation: FG takes over NNPC, Customs, FIRS, NPA, NIMASA, NCC, others

Ishaku Yohanna

Pressured by dwindling revenues and heavy debt burden, the Federal Government on Tuesday moved to boost its resources by directly taking over control of revenue management of its 10 most lucrative enterprises. The 10 government-owned enterprises (GOE) named in the first phase of the initiative are Nigerian National Petroleum Corporation (NNPC), Nigerian Ports Authority (NPA), Nigeria Maritime Administration and Safety Agency (NIMASA), Federal Inland Revenue Service (FIRS) and Nigeria Customs Service (NSS). Others include Corporate Affairs Commission (CAC), Department of Petroleum Resources (DPR), Nigerian Communications Commission (NCC) Federal Airports Authority…

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Stamp Duty Collection: FIRS says it generates N3bn weekly, as NIPOST insists on its share of proceeds from 2016 to 2020

Ishaku Yohanna

The Federal Inland Revenue Service (FIRS) on Tuesday announced that it has been generating N3 billion revenue weekly as stamp duty charge from Deposit Money Banks (DMBs) since May 2020. Muhammad Nami, Executive Chairman of the FIRS, told the House of Representatives Committee on finance in Abuja that the Service was able to generate revenue from a single stream of stamp duty charges from Deposit Money Banks, DMBs as it had deployed new technology to track and capture such revenue into the federation account. “FIRS had deployed the Application Programming…

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NIPOST, FIRS lock horns over stamp duties charge

Ishaku Yohanna

The Federal Inland Revenue Service (FIRS) has denied depriving the Nigeria Postal Service (NIPOST), of discharging its duties. This was disclosed in a statement signed by the agency’s spokesperson, Abdullahi Ahmad, on Tuesday. The chairman of the NIPOST, Maimuna Abubakar, in a series of tweets, accused the FIRS of stealing the mandate of NIPOST. She said the FIRS, responsible for assessing, collecting and accounting for tax accruing to the Federal Government, had begun printing stamps. Ms Abubakar called on Nigerians to ensure that NIPOST gets justice. NIPOST is a government…

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