Receipts
Lagos assembly warns local councils against extorting courier, logistics operators
Pool Photo The Lagos House of Assembly on Monday ordered local government councils and local council development areas (LCDAs) in the state to desist from extorting and harrassing operators of courier and logistics services in the state. Mudashiru Obasa, the House speaker, said the local councils do not have the power to tax logistics and courier services. He said the power of the councils was limited to the registration of bicycles as dictated by the Constitution. Mr Obasa said it was important to act against the action of the councils because it affects the ease of doing business in the state. “We have to make them understand that going out to disturb well-planned and organised businesses that stand to create employment for our youth especially with the rate at which students graduate wi...
Former Nigerian soldier who trains ESN militants arrested in Abuja
The police have arrested a dismissed army lance corporal allegedly responsible for training and recruiting people into the Eastern Security Network (ESN), the militant arm of the outlawed pro-Biafra group, IPOB, according to a report. He was arrested a few days after a top commander of the terror group, Awurum Eze, was arrested in Aba, Abia State. The group is alleged to have been responsible for killings of security agents and destruction of public properties in the South-east and South-south zones. They have, however, denied the allegations. According to sources, the 32 years old dismissed soldier, whose name was given as Livinus Owalum-Barnabas, was arrested on Sunday, at Gwagwalada Area Council of the FCT by men of the Inspector General of Police Intelligence Response Team (IRT). The e...
Bayelsa: We won’t retrench workforce amid dwindling revenues – official
The Bayelsa state government has assured civil servants in the state that it had no plans to downsize the workforce, amidst dwindling revenue. The government said on Thursday that although it was contending with an unwieldy wage bill, it would seek alternative sources of revenue to shore up its finances. The Commissioner for Finance, Maxwell Ebibai, gave the assurance at the transparency briefing for the months of January and February 2021, in Yenagoa, the state capital. Newsmen report that under the state’s Bayelsa Transparency Law, it had become mandatory for the government to make public its income and expenditures on a monthly basis. Ebibai, said the state government received N6.8 billion for February, 2021, as net receipts from the Federation Account, after first line deductions, as a...
Edo governor presents N153.4 billion 2021 budget
Governor Godwin Obaseki of Edo State on Tuesday presented a budget of N153.4 billion for 2021 to the state House of Assembly for approval. Presenting the budget christened ‘MEGA Budget ‘, Obaseki said that it was made up of N94.8 billion recurrent expenditure and N58.6 billion capital expenditure. “Mr Speaker, you will note that the recurrent component is larger than the capital. It is to help us deal with the social and economic consequences of COVID-19. “The total receipts of N153 billion expected for 2021 comprise of N71 billion from the federation account and N36 billion Internally Generated Revenue (IGR). “We also expect N9.8 billion from aids and grants; most of them have already been finalised. We expect to raise N15.3 billion as loan and 13.8 billion as capital development fund rec...
FIRS clarifies stamp duty rates, others
Following several requests by taxpayers seeking clarifications on the current administration of Stamp Duties Act in the country, the Federal Inland Revenue Service (FIRS) has published detailed information to guide taxpayers and the general public on rates payable as stamp duty. The clarification guide, which is contained in a Public Notice signed by Executive Chairman, FIRS, Mr. Muhammad Nami, published on its website, stated that Stamp Duty is chargeable on both physical and electronic instruments in two ways i.e. Ad-valorem, where duty payable is a percentage of the consideration on an instrument; or Flat Rate, where a fixed sum is chargeable irrespective of the consideration on dutiable instrument or document. The notice described stamp duty as a tax payable in respect of dutiable inst...
