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Facilitate Closure Of Tax Cases Under Investigations To Ensure Revenue Collection — FIRS To EFCC

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Zacch Adedeji, chairman of the Federal Inland Revenue Service (FIRS), has called for a synergy between the tax agency and the Economic and Financial Crimes Commission (EFCC) to effectively monitor and report financial transactions of companies, multinationals, and wealthy individuals.

Adedeji made the call on Wednesday, when he visited Ola Olukoyede, chairman of the anti-graft agency, in his Abuja office.

The FIRS chairman requested the closure of tax investigations to facilitate revenue generation, according to a statement by Dare Adekanmbi, special adviser on media to Adedeji.

He said the collaboration was necessary as socio-economic activities “are speedily transcending from bricks-and-mortar to a digital and knowledge-driven economy”.

Adedeji said FIRS tracks financial transactions using third-party data, information, and intelligence from sister agencies such as the EFCC.

Seeking EFCC’s support for data sharing to improve intelligence gathering and investigation, he stressed the importance of the two agencies constantly engaging and coordinating regular meetings to address specific challenges.

The taxman also acknowledged the roles of FIRS and EFCC in ensuring fiscal stability and combating financial crimes in Nigeria, stating that the existing working relationship between the two agencies has helped in improving tax compliance levels in the country.

  • EFCC, FIRS Should Explore Joint Initiatives

“We should also explore the possibility of joint initiatives, public awareness campaigns, and stakeholder engagement with businesses and the general public in promoting tax compliance and deterring economic crimes,” Adedeji said.

“We could also benefit from joint training and capacity-building programmes to enhance the skills of both FIRS and EFCC personnel in detecting and addressing financial crimes related to tax evasion.

“I am also aware of pending tax investigation cases involving the EFCC. I humbly request the chairman to help us facilitate the transfer and closure of these cases and to enable us to collect the much-needed revenue.”

Congratulating Olukoyede, Adedeji noted that the EFCC and FIRS are crucial in supporting the nation’s socio-economic reforms under the renewed hope agenda of President Bola Tinubu.

He said the FIRS raises revenue for government operations, while the EFCC ensures judicious utilisation of these funds in line with the social contract with the people.

In response, Olukoyede thanked the FIRS chairman, assuring him that the existing relationship between the two agencies would be sustained.

He, however, requested that the memorandum of understanding between the two agencies regarding operations in units such as the tax fraud section and joint tax force be reviewed.

The EFCC boss also requested that some staff of the FIRS be released to work at the anti-graft agency to provide technical support on tax matters.

BIG STORY

UPDATE: Nigerian Police File 12 Fresh Cybercrime Charges Against Dele Farotimi [PHOTOS]

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The Nigerian Police have brought new cybercrime charges against detained human rights lawyer, Dele Farotimi.

The additional 12-count charge was filed on Friday, December 6, 2024, before a Federal High Court sitting in Ado-Ekiti.

This comes after 16 charges were previously filed against Farotimi by the Police on Wednesday.

It will be recalled that the human rights lawyer was arrested in Lagos on Tuesday, December 3, 2024, by operatives of the Ekiti State Police Command.

The following day, he was arraigned in a magistrate court in Ado-Ekiti on a 16-count charge of defamation of character against Senior Advocate of Nigeria (SAN) Afe Babalola, who was mentioned in his book, ‘Nigeria and its Criminal Justice System’.

In his ruling, Magistrate Abayomi Adeosun remanded Farotimi in prison custody until December 10.

In the latest charges, Farotimi is accused of making defamatory statements on Seun Okinbaloye’s podcast, based on content in his book, ‘Nigeria and Its Criminal Justice System’.

He is further accused of intimidating and maligning Afe Babalola during the podcast.

The lawyer was also charged with publicly discussing details of legal actions taken against him during a press conference on December 2, 2024, prior to his arrest on December 3, 2024.

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BIG STORY

Taraba Governor’s Sister “Accidentally Shot By Police Escort” During Gunmen Attack

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Atsi Kefas, the sister of Agbu Kefas, the governor of Taraba State, was reportedly shot by a police escort during an attack by gunmen on Thursday.

According to Zagazola Makama, a counter-insurgency publication focused on the Lake Chad region, Jumai, the governor’s mother, and Atsi were traveling along Kente Road in Wukari LGA of Taraba State when they were attacked.

The publication stated that a police officer assigned to escort the family “accidentally shot Atsi” while attempting to fend off the assailants.

Following the attack, troops rescued the victims and evacuated both Jumai and Atsi Kefas from the scene using an air ambulance.

The injured sister was rushed to the hospital for treatment, and her condition remains undisclosed at the time of this report.

The vehicle used by the gunmen was recovered by security forces, along with an empty magazine, and the luggage of the passengers was found in the vehicle.

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BIG STORY

Governor Sanwo-Olu Seeks Investors For Proposed $1.9bn Purple, Green Rail Line Projects

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Babajide Sanwo-Olu, the governor of Lagos, announced that he is seeking investors for the proposed $1.9 billion purple and green rail lines.

Sanwo-Olu made the statement on Thursday at the ongoing Africa Investment Forum (AIF) Market Days in Rabat, Morocco.

Discussing the state’s investment strategy for the purple rail line, Sanwo-Olu emphasized that the project presents a strong investment opportunity with promising returns.

The governor expressed enthusiasm about moving forward with the project, stating that his administration is ready to be flexible with investors to ensure its successful delivery.

He added that the purple rail line would connect Lagos and Ogun states.

“The purple rail line is a 60 km electrified rail system that will include 16 stations and seamlessly integrate with existing metro and bus services to enhance connectivity,” Sanwo-Olu said.

“It is projected to serve over 300,000 passengers daily, significantly reducing greenhouse gas emissions by encouraging a shift from road to rail transportation.”

Sanwo-Olu informed potential funders that the immediate requirement is $866.05 million, which will cover survey and design, as well as civil works.

He outlined a short-to-medium-term funding projection of $602.81 million and a long-term funding plan of $497.7 million.

The governor highlighted that the state is working toward a transportation master plan aimed at creating a brighter, more effective, efficient, sustainable, and safer system.

He emphasized the state’s focus on integrated transportation systems and mass transit solutions to reduce traffic congestion and commuting time, ultimately improving the health and wellbeing of residents.

He further explained that each corridor features a bus rapid transit (BRT) system and waterway routes, designed to take commuters off the major roads and alleviate traffic.

“Two of the stations that were built on the same line are also connected with water, rail and BRT altogether,” he said.

  • ‘THERE WOULD BE NO BACKLASHES, DISPLACED PERSONS WOULD BE COMPENSATED’

Sanwo-Olu assured investors that the state is committed to ensuring there would be no disruptions or backlash from displaced communities.

“The government would even pay compensations to displaced persons where necessary, so no additional burden is brought to would-be funders,” he added.

“We don’t want to lock in anything, we know all the various options. We understand how some of these things work.”

“We’re willing and ready to make those transactions work. We’ve seen from our experience how to guarantee revenue assurance.”

“We have a payment system under the cowry card, which is where we’d block leakages to a large extent, and the same contactless card can be used on our bus, train, and ferry, where it will all be integrated.”

“On a daily basis, they know what the traffic is and what is due to everybody. Whatever, based on the study or the ridership guarantee, we would look at it.”

Sanwo-Olu added that the state government would need “to either top up on other forms of revenue that can help out in terms of advertising rides on the corridor.”

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