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Tax: Expert advocates review of Stamp Duty Act

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By Gistflash News

Sept 9, 2021

Mr. Albert Folorunsho, a tax expert has advocated for review and overhauling of Stamp Duty Act to meet the current realities in the country.

Folorunsho said this in a paper presentation at the 148th Meeting of the Joint Tax Board (JTB) in Abuja on Thursday.

The paper was titled “Achieving Effective and Efficient Administration of Stamp Duties and Other Related Taxes for enhanced revenue generation in Nigeria”.

The expert noted that the stamp duty act was enacted in 1939, and since then, no major amendments had taken place.

He said that only slight amendments were made in Finance Act 2019 and 2020.

Folorunsho said that stamp duty act had been facing a lot of challenges in the implementation because provisions did not communicate certainty like party responsible to pay and payment timelines.

According to him, other challenges in the implementation are rates and penalties that are not well spelt out in the act.

He stated that training for revenue officers on stamp duty administration had been arbitrary and inadequate.

Folorunsho also identified lack of data to track compliance as another hitch for in implementation of the act.

He said overhauling the stamp duty act was necessary to align with the current realities and best global practices.

The tax expert said that doing so would ensure the clear identification of responsible parties or collection agents.

Folorunsho said that if the stamp duty was reviewed, it would address emerging transactions and restrict the dutiable instruments to land and security transactions.

In his remarks, the Chairman of JTB, Mr Mohammed Nami, tasked revenue authorities in the 36 states and FCT to step up in generating more revenue to their respective states.

Nami said with the Gross Domestic Product (GDP) growth profile of the country looking good again, the tax authorities must ride on the wave of economic prosperity and take advantage of the opportunities that present themselves.

“We look forward to an enlightening discourse on the practical, proactive steps to take towards ensuring that the statutory bodies charged with the administration of these taxes do so in more effective and efficient ways to ensure enhanced revenue generation from these revenue sources.

‘I want to also emphasise that the responsibility for generating revenue for the state and the nation is a unique opportunity, and call to national service.

“While heeding this call, one must be selfless, above board, and have national interest above all other interests at heart.

“Our calling as revenue administrators should be taken with all sense of responsibility, and I must say that I am proud of the assembly of eminent statesmen and women present in this hall.

“I believe that together, we can indeed chart a positive, inclusive, and sustainable future for revenue administration for our dear nation Nigeria,” he said.

NAN

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Northern Youths inaugurate Yahaya Bello Presidential Network

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By Gistflash News

Sept 22, 2021

Youths from Nigeria’s 19 northern states and the Federal Capital Territory (FCT) have inaugurated a political pressure group that will work for the realisation of the presidential ambition of Gov. Yahaya Bello of Kogi.

Known as the Yahaya Bello Network (YBN), the group said it would be supporting the governor to emerge the nation’s next president in 2023.

The YBN said Nigerian youths wanted one of them as the nation’s next leader.

At the inauguration on Wednesday in Kaduna, YBN spokesman, Bello Mohammed, said gone were the days when Nigerians talked of politics of region and ethnicity.

“We are supporting Gov. Bello not only because he is our own from the north, but because he is young, vibrant and energetic and has what it takes to lead Nigeria to the promised land.

“There are agitations everywhere, but it is not constitutional as politics is a game of number and Yahaya Bello is a man of quality.

“Nigeria’s presidency is something that has to do with quality and has nothing to do with your religion or background,“ Mohammed said.

The inauguration of the YBN comes barely 72 hours after the Northern Elders Forum (NEF) declared that the region would retain power beyond 2023 as it has the voter population to win the presidential election in 2023.

Inaugurating the executives and ambassadors of YBN, Mohammed described the call by the southern governors for power to return to the South as unconstitutional and uncalled for, insisting that politics is a game of numbers.

He said the leadership of his group would embark on a tour of the 19 northern states to canvass support for the candidature of Bello as Nigeria’s next president.

The Special Adviser on Youth and Student Affairs to the Governor, Ahmed Jibril, said it was a good development that Nigerian youths were now coming on board to identify with a youth like them and seek his election to the exalted position of Nigerian President.

“It is only a plus for us as youths to be calling on Gov. Bello to come and be the number one citizen of Nigeria,” he said.

On the agitation for power shift to the South, Jibril said it was part of democracy.

“Everybody has the right to call for what he wants and it is his opinion.

“If people have seen the youth in Gov. Bello, if they have seen a leader and a unifier of the country in him, then he shall be the President by the grace of God because man proposes but God has the final say,’’ Jibril said.

YBN Secretary-General Salisu Mohammed inaugurated the executives and ambassadors of the group, including notable Kannywood actors and actresses.

He called on them to go and spread the message to others in their respective states.

NAN

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INEC begins nationwide display of voters register Sept 24, says Ebonyi REC

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By Gistflash News

Sept 22, 2021

The Independent National Electoral Commission (INEC) says it will commence the first quarter display of Voter Register (VR) across the country on Sept. 24.

Dr Joseph Chukwu, the Ebonyi INEC Resident Electoral Commissioner (REC), who stated this at a news conference in Abakaliki, on Wednesday, added that the display will run from Sept. 24 and end on Sept.30.

He urged those that took part in the registration exercise to use the opportunity to cross-check their biodata and any other relevant information and make corrections, where necessary.

Chukwu noted that the exercise was sequel to the end of the first quarter of the Continuous Voter Registration (CVR) that began in June.

The REC, who commended eligible voters for participating in the civic exercise appealed to the citizenry to continue supporting INEC’s activities that would lead to credible elections in 2023.

“Following the completion of the online and physical registrations, which began on June 28 and closed by 11.59p.m on Sept. 21.

“The display of voters’ register for claims and objections will hold effective from Sept. 24 to Sept. 30 for the first quarter.

“The exercise will take place in all the 13 local government offices of the commission, including the two centres at the state headquarters.

“The register will also be on display simultaneously across the 774 local government areas and the Federal Capital Territory, as well as other designated centres.

“All registrants are, therefore, advised to visit centres where they registered or made corrections to check for the correctness of their particulars”, Chukwu said.

He explained that the second quarter of the CVR exercise would begin on Oct. 4 nationwide and end on Dec. 20, while third phase of the exercise would start by Jan. 3, 2022 and close on March 4.

The fourth quarter would begin by April 11, 2022 to end on June 30, 2022.

“Let me on behalf of the Chairman of our commission, Prof. Mahmood Yakubu, express our gratitude to all critical stakeholders for their cooperation before, during and after the first quarter of the exercise in Ebonyi.

“Except occasional disruptions by rain, we did not encounter any security breach during the entire exercise throughout the state,” Chukwu said.

NAN

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Ganduje condoles with Gaya Emirate over Emir’s death

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By Gistflash News

Sept 22, 2021

Gov. Abdullahi Ganduje of Kano State has said that he received with sadness and deep feeling, the news of the passing away of the Emir of Gaya, Alhaji Ibrahim Abdulkadir.
Abdukkadir died on Wednesday at the age of 91 and left behind three wives, 28 children and many grandchildren.
The Commissioner for Information, Malam Muhammad Garba, stated this in a statement he issued to newsmen on Wednesday in Kano.
“Despite his ailing condition, the monarch’s uncommon leadership qualities earned him respect as traditional ruler since his days as Sarkin Gaya and until his death as First Class Emir in Kano.
“The death of the Emir in one of the oldest Emirates in Northern Nigeria, has created a vacuum difficult to be filled considering his contributions to peace, stability and progress of his domain and the country,” he said.
The commissioner revealed that Abdukkadir was one of the four Emirs elevated to First Class Emirs by the Gov. Ganduje administration after the creation of Rano, Gaya, Bichi and Karaye Emirates in 2019.
“Gov. Ganduje, who is away in Abuja when the Emir’s death was announced said the demise of the monarch is a big loss to his immediate family, Gaya Emirate, the government and the entire people of Kano state,” he said.
He, therefore, prayed to Allah in His infinite mercy to forgive his sins and grant him Aljannah Firdausi.
Garba also quoted the governor as calling on the people of the emirate to bear the loss with the spirit of acquiescence to God’s will.
The governor also urged them to take solace in the fact that endurance was not the measure of a good life but the sense of fulfilment.
NAN
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