Connect with us

News

LIRS, FIRS Issue Public Notice On Joint Tax Audit/Investigation

Published

on

The Lagos Internal Revenue Service (LIRS) and the Federal Inland Revenue Service (FIRS) have issued a public notice on the Memorandum of Understanding (MoU) signed by both agencies to establish a Joint FIRS and LIRS Audit and Investigation Team aimed at encouraging the exchange of information between both agencies.

In the communique signed by Ayodele Subair, Executive Chairman, LIRS, and Muhammad Nami, Executive Chairman, FIRS on Wednesday, the general public, taxpayers and tax practitioners are charged to provide full support and cooperation to both Agencies for the overall economic benefit of all stakeholders.

According to the MoU, the overall objective of the Joint Tax Audit would be to improve tax administration by reducing tax compliance cost thereby enabling ease of doing business in the country.

Speaking on the MoU, Mr Ayodele Subair, Executive Chairman, LIRS, said while the importance of the agreement was to foster greater collaboration between the two agencies, “There is no reason to debate the above as it has been established that tax compliance and good governance are expected to co-exist as the undividable social contract that binds citizens and governments anywhere in the world. Therefore, citizens and governments are expected to fulfil their end of the bargain in achieving a balance.”

According to the FIRS Executive Chairman, Muhammad Nami, ‘’the cooperation would enable the two authorities to work as a team in sharing relevant information that would assist both parties in their tax administration and enforcement roles as it would also provide capacity building between both tax authorities.

We will carry out a joint audit and investigation as a team, we will also conduct an automatic exchange of information for gathering data for the purpose of tax administration. With that information, we would be able to carry out tax administration seamlessly,” he submitted.

The communique says while the notice was issued for the information and guidance of the general public, taxpayers and tax practitioners in line with the memorandum of understanding, the collaboration between both Agencies in the area of exchange of information will ensure efficiency, accurate assessments and increased revenue for funding of Government expenditure, 

FIRS and LIRS, the communique says further, are leveraging on their existing distinct competencies in tax administration to collaborate in the areas of exchange of information, harmonization of an integrated tax system and joint tax audit or investigation exercise (where necessary) in carrying out their respective mandates for the purpose of optimizing tax revenue to the Federal Government and the Lagos State Government respectively.

The collaboration is expected to improve tax administration with a view to enhancing tax revenue generation, creation of a robust database and improve on the country’s tax-to-GDP ratio.

The parties (FIRS and LIRS) are expected to establish a Joint Audit or Investigation Team to be known as the FIRS/LSBIR JAIT (hereinafter referred to as “JAIT”), whose membership shall be determined by both parties to conduct a joint audit or investigation exercise which shall be concluded timeously. 

The communique assured the public that employees of both parties will abide by the Code of Conduct and Ethical compliance to assure that the implementation of the MOU does not impact negatively on the taxpayers and the parties.

News

Pyrates March with Ogun State First Lady and Women Affairs Commissioner against Gender Violence

Published

on

By

 

The National Association of Seadogs’ Pyrates Confraternity, Abeokuta chapter, Ogun State, in collaboration with the Ministry of Women Affairs and Social Development, Ogun State, commemorated the World Human Rights Day 2024 with a rally from the center of Abeokuta the capital city of the state to the Governor’s office and ended the procession at the state house of Assembly.


The Association, known for its humanistic ideals and advocacy for justice and equity, marked Human Rights Day on December 10, 2024. The Ogun State Chapter of the National Association of Seadogs’ Pyrates Confraternity visited the Speaker and urged the assembly to expedite the passage of laws that promote peace, human rights, and an end to gender-based violence in Ogun State.

The Capoon of Ash Montana Deck, Peter Oluwatoyin Adekunle, commended the Commissioner for Women Affairs and Social Development, Hon. Motunrayo Adijat Adeleye, for establishing a rehabilitation center. This center provides support for survivors of sexual and gender-based violence and introduces a free toll line : 08000000666 and 08000000555 to report abuse and offenders.

Additionally, the Capoon highlighted various forms of gender-based violence, including threats and coercion. The First Lady, Mrs. Bamidele Abiodun, educated attendees IN THE UNFPA ACKNOWLEDGED PROGRAM on forms of gender-based violence, such as:

– Sexual assault
– Rape
– Attempted rape
– Trafficking
– Prostitution
– Sexual harassment
– Manipulation within the home, workplace, or school
– Domestic violence
– Controlling behavior in intimate relationships
– Battery
– Confinement
– Emotional abuse
– Pornography
– Harmful traditional practices
– Early/forced marriage
– Widow ceremonies
– Punishment for defying cultural norms
– Denial of education, food, and clothing to girls/women

The Speaker, Hon. Oludaisi Olusegun Elemide, pledged to uphold his promise to pass laws protecting human rights.

*The Pyrates Confraternity has a long history of advocating for human rights and social justice, dating back to its founding in 1952 by seven students at the University College, Ibadan, including the renowned Professor Wole Soyinka.*

Continue Reading

News

ZENITH BANK KICKS OFF YULETIDE SEASON WITH SPECTACULAR AJOSE ADEOGUN STREET LIGHT-UP

Published

on

By

In keeping with its acclaimed annual tradition, Zenith Bank once again set the stage for the Yuletide season with the Light-Up of Ajose Adeogun Street and Roundabout, Victoria Island, Lagos on Saturday, 23 November 2024. The Light-Up ceremony was performed by the Group Managing Director/Chief Executive of Zenith Bank Plc, Dame (Dr.) AdaoraUmeoji, OON.

The Light-Up ceremony is a Corporate Social Responsibility (CSR) initiative of Zenith Bank. Now in its 18th year, the beautiful Christmas decoration, which transforms the entire stretch of Ajose Adeogun Street (home to Zenith Bank’s Corporate Headquarters) and Roundabout into a breathtaking yuletide wonderland, has come to be recognized as an iconic tourist attraction, bringing visitors from far and wide who visit with their families and friends to take pictures and enjoy the ambience of the street.

Speaking during the ceremony, Dame (Dr.) AdaoraUmeoji said “Over the years, Zenith Bank has hosted this spectacular event, transforming the entire Ajose Adeogun Street into a breathtaking yuletide wonderland. Our beautiful and elaborate Christmas decorations have become a centre of attraction and shared on social media platforms globally. As we light up the street tonight, we celebrate the essence of Christmas and Zenith Bank’s unparalleled CSR. Our customers will always be at the centre of all that we do in Zenith Bank.” She urged everyone to imbibe the message and spirit of Christmas which is about love, kindness, generosity and respect for humanity, and thanked the Lagos State Government for creating an enabling environment for the initiative.

She also praised the efforts of Quantum Markets, who have been responsible for the annual decorations, for their expertise and creativity in putting together the lovely decorations. In her words, “I want to thank the management of Quantum Markets for all the beautiful, creative and innovative ideas they keep coming up with. Quantum Markets always make it bigger and better every year, and we are always looking forward toit.”

Zenith Bank remains committed to furthering the economic, cultural and social development of its host communities. The bank’s sustainability and CSR initiatives are hinged on the belief that today’s business performance is not all about the financial numbers – the bank believes that an institution’s social investments, contributions to inclusive economic growth and development as well as improvements in the condition of the physical environment, all constitute a balanced scorecard.

As a testament to its contributions and social investments in its host communities and the society at large, the bank was recognised as the “Most Sustainable Bank, Nigeria” in the 2023 and 2024 International Banker Banking Awards and “Most Responsible Organization in Africa” at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021.

Continue Reading

News

Izuchukwu Christian Ahuchaogu Wins Media Personality of the Year at TM News Awards 2024

Published

on

By

Izuchukwu Christian Ahuchaogu, the dynamic publisher of Truetells Nigeria, has been awarded the prestigious title of Media Personality of the Year at the TM News Awards 2024. The ceremony, held at Lagos Oriental Hotel in Lagos, celebrated the outstanding contributions of media professionals across the nation.

Ahuchaogu, known for his innovative approach to journalism and commitment to truth-telling, has significantly impacted the Nigerian media landscape. Under his leadership, Truetells Nigeria has become a trusted source of news, focusing on integrity, accuracy, and insightful reporting.

In his acceptance speech, Ahuchaogu expressed gratitude to his team and readers. “This award is not just for me, but for everyone at Truetells Nigeria who works tirelessly to uphold the values of honest journalism. We are dedicated to telling the stories that matter and serving the public with transparency,” he said.

The TM News Awards, an annual event that honors excellence in journalism, attracted numerous prominent figures from the media industry, government officials, and celebrities. This year’s event highlighted the crucial role of the press in fostering democracy and accountability in Nigeria.

Ahuchaogu’s recognition as Media Personality of the Year comes at a time when the media faces various challenges, including misinformation and censorship. His unwavering commitment to ethical journalism is seen as a beacon of hope for aspiring journalists and media practitioners across the country.

As Truetells Nigeria continues to grow, Ahuchaogu aims to expand its reach and influence, leveraging digital platforms to engage a broader audience and promote informed discourse. The award not only reinforces his status in the media community but also inspires a new generation of journalists in Nigeria.

The TM News Awards 2024 served as a reminder of the vital role media plays in society and the importance of celebrating those who strive to make a difference through their work.

Continue Reading

Trending News