Headlines
IGR: FCTA inaugurates tax implementation committee
IGR: FCTA inaugurates tax implementation committee
The Federal Capital Territory Administration (FCTA) has inaugurated a Capital Gain Tax (CGT) Implementation Committee to boost Internally Generated Revenue (IGR) in the territory.
Mr Chinedum Kelechi, the Mandate Secretary, Economic Planning, Revenue Generation and Public Private Partnership, FCTA, inaugurated the committee in Abuja on Tuesday.
The News Agency of Nigeria (NAN) reports that the committee would be chaired by the Executive Chairman, FCT-IRS, while the Director, Tax Operations, FCT-IRS would serve as secretary.
Other members of the committee include the Solicitor General; the Director of Land Department; the Director of Development Control; the Director of Abuja Geographic Information System; and the Chairman of the Nigerian Bar Association (NBA).
Kelechi explained that the committee became necessary following FCT Minister Nyesom Wike’s approval for the implementation of the CGT Act, Cap. CI LFN 2004.
“The Act imposes a CGT tax rate of 10 per cent on the total amount of chargeable gains accruable to any person upon disposal of his or her chargeable asset.
“Or assets in a year of assessment after deduction of the allowable expenses from the gains made on the asset’s disposal.
Read Also: Nigerian Senate faults IGR profile of institutions in agric sector
“This is to be remitted to the FCT Internal Revenue Service (FCT-IRS) as required by the extant law,” he said.
He added that Wike had equally approved inter-agency collaboration and synergy between the FCT-IRS and other relevant agencies to ensure smooth implementation of the CGT Act.
The mandate secretary said that the committee would conduct comprehensive awareness and education campaigns to improve citizens’ understanding.
He also said that the committee would conduct regular stakeholder engagement through business associations, chambers of commerce, NBA and other relevant organisations.
He added that the committee would monitor transactions across stakeholders, and agencies as well as enforce the CGT implementation in accordance with extant laws.
Kelechi urged members of the committee to collaborate with the judiciary to handle cases of severe non-compliance or fraud as well as establish a transparent dispute resolution mechanism among others.
Earlier, the acting Executive Chairman of FCT-IRS, Mr Haruna Abdullahi, said that the CGT was part of taxes that FCT-IRS was empowered by law to collect.
Abdullahi decried the situation where the collection of the CGT due to FCT was less than five per cent.
He commended Wike for bringing relevant stakeholders together to work with FCT-IRS to enhance the revenue in the territory.
(NAN)
The Nigerian Air Force (NAF), says a comprehensive investigation is in progress to ascertain the veracity of reports of loss of civilian lives in the course of recent airstrikes in Zamfara.
The Director, Public Relations and Information of NAF, AVM Olusola Akinboyewa, made this known in a statement on Monday in Abuja.
Akinboyewa said that the NAF dealt a decisive blow to bandits terrorising villages in the area in recent airstrikes at Tungar Kara in Zurmi Local Government Area of the state.
“The operation successfully eliminated several bandits and led to the recovery of some kidnap victims, the NAF viewed with grave concern reports of the loss of civilian lives in the course of the operation.
“As a responsible and professional custodian of airpower for the security of the nation, the NAF believes in the absolute value of the life of every Nigerian.
“Accordingly, a comprehensive investigation is in progress, to ascertain the veracity of the reports, the outcome of which will be duly communicated to inform and re-assure the public.
“Please rest assured that, while our mission in the North West remains to combat banditry and restore peace, the safety and well-being of all Nigerians are of utmost importance.
“We will therefore work closely with all relevant authorities to unravel the facts and take appropriate steps, as part of our unwavering commitment to prevent, minimise and mitigate any harm to civilians and civilian infrastructure in the course of our operations,” he said.
The Federal Government has approved four airlines as official air carriers to transport intending pilgrims for the 2025 hajj pilgrimage in the Kingdom of Saudi Arabia.
The Executive Chairman, National Hajj Commission of Nigeria (NAHCON), Prof. Abdullahi Usman, made this known in a statement by the commission’s Assistant Director, Information and Publication, Mrs Fatima Usara, on Sunday in Abuja.
Usman explained that the four airlines were selected out of the 11 companies that submitted applications to transport Nigerian pilgrims to Saudi Arabia for Muslims pilgrimage.
According to Usman, the four approved airlines are Air Peace Ltd., Fly-Nas, a Saudi Arabia designated airline, Max Air, and UMZA Aviation Services Ltd.
The NAHCON boss stated that the airlines were screened and shortlisted by a team of 32 members that were inaugurated by the NAHCON on Nov. 26, 2024.
He said that the composition of the Aviation Screening Committee included representatives from State Pilgrims’ Welfare Boards, three members from Nigerian Civil Aviation Authority (NCAA) and one member each from the Federal Airports Authority of Nigeria (FAAN).
He also said that some members of the committee were drawn from the Nigerian Airspace Management Agency (NAMA), Nigerian Meteorological Agency (NIMET), and Nigerian Safety Investigation Bureau (NSIB).
Similarly, Prof. Usman said that one member each was drawn from Nigerian Customs’ Service (NCS) and Independent Corrupt Practices Commission (ICPC).
Others, he listed, were NAHCON Board members representing each geo-political zone of the country, NAHCON Heads of Aviation, Procurement, Legal, Internal Audit, and Special Duties as well as Board Member representing the Aviation industry.
The NAHCON boss also disclosed that three excess cargo carriers were selected for the hajj operations.
He named them to include; Aglow Aviation Support Services Ltd, Cargozeal Technology Ltd and Qualla Investment Ltd.,
The Chairman, who congratulated the successful companies, urged them to fulfil their responsibilities as promised during the screening.
Meanwhile, Prof. Usman signed the 2025 Hajj Memorandum of Understanding (MoU) with the Saudi Ministry of Hajj and Umrah on behalf of the Nigerian Government.
Kingdom of Saudi Arabia was represented by the Deputy Minister of Hajj and Umrah, Dr Abdulfatah Masahat, at the signing ceremony.
The event was held in Jeddah, Saudi Arabia to formalise this year’s Hajj engagements.
Some health stakeholders have said that Nigeria’s Primary Healthcare Centres (PHCs), which serve as the backbone of the country’s healthcare system, are in dire need of revitalisation.
The stakeholder said this in an interview with the News Agency of Nigeria (NAN) on Monday in Abuja, (more…)
NAF investigates reports of vigilante losses in Zamfara airstrikes–official
FG approves 4 airlines for 2025 hajj operation – NAHCON Chair
Nigeria’s primary healthcare centres in need of urgent revitalisation – Stakeholders
Facebook, Instagram Temporarily Allow Posts on Ukraine War Calling for Violence Against Invading Russians or Putin’s Death
Nigeria, Other West African Countries Facing Worst Food Crisis in 10 Years, Aid Groups Say
New York Consulate installs machines for 10-year passport
-
Business3 years ago
Facebook, Instagram Temporarily Allow Posts on Ukraine War Calling for Violence Against Invading Russians or Putin’s Death
-
Headlines3 years ago
Nigeria, Other West African Countries Facing Worst Food Crisis in 10 Years, Aid Groups Say
-
Foreign3 years ago
New York Consulate installs machines for 10-year passport
-
Technology4 months agoZero Trust Architecture in a Remote World: Securing the New Normal
-
Entertainment2 years agoPhyna emerges winner of Big Brother Naija Season 7
-
Business7 months agoNigeria Customs modernisation project to check extortion of traders
-
Business9 months agoWe generated N30.2 bn revenue in three months – Kano NCS Comptroller
-
Headlines7 months agoPhilippines’ Vice President Sara Duterte resigns from Cabinet
