Acting President Yemi Osinbajo has forewarned tax evaders in Nigeria that they have some few months to begin to pay taxes to the government after which they would be treated as economic saboteurs and tax defaulters.
He stressed that after some months grace: “we will consider those who have failed to take advantage of this offer or who have declared falsely, to be willful tax defaulters and economic saboteurs. We will then proceed with aggressive investigation with a view to criminal prosecution. We will also publish a tax defaulters list to name and shame those refusing to do the right thing.”
Acting President Osinbajo who spoke today when he launched Voluntary Assets and Income Declaration Scheme (VAIDS) at the Presidential Villa Abuja said that VAIDS scheme will be operated from July 1st 2017 to 31st March 2018 and that it will be supported by an executive order that he signed into law today (Thursday).
According to him, VAIDS will offer a once in a lifetime opportunity to those in default
to regularise their tax affairs, adding that this is an offer in the spirit of national reconciliation and rebuilding that should be taken as such.
“ In addition, because we understand that some tax payers may have challenges raising tax. We have built in a system that will allow those owing to pay over a period of time, subject to conditions.
Professor Osinbajo made it clear that the issue of accountability for tax revenue is one that this
government is fully ready and able to address.
“In our war on waste and inefficiency at all levels, we have positioned ourselves to ensure that
tax revenues will be a driver of real lasting progress. Based on information on tax evasion that is now available, our personal preference is that those who have diverted Nigeria’s legitimate tax revenues abroad or concealed them at home, should taste the full force of the law.
“However the extent of noncompliance, coupled with the urgent need to revive the economy has persuaded all of our policy makers that we adopt the pragmatic approach of declaring a time
limited programme of the VAIDS.
He said that available data showed that many companies have distorted the ancient account concept of double entry and now maintain two or three sets of books; one for the tax man, showing low revenues and high expenses and another set showing the reverse, even as others collude with tax officials to fraudulently understate their obligations to government.
“Some have charged VAT and not remitted it to the FIRS. Others have deducted taxes from employees salaries and pocketed the sum.
“Tax evasion is of course not a uniquely Nigerian practice. Some multi nationals have used pricing and profit shifting to rob Nigeria of its share of the revenue generated within this nation.
“For the last fifteen months, a high level team has been working with the ministry of finance undertaking a major data mining exercise. The project was called project Light House and has been able to search various databases including but not limited to bank verification numbers.
“Corporate Affairs Commission, Nigerian Financial Intelligence Unit, land registry records, vehicle registration records, immigration and travel records and of course, whistle blowers tips to stop cash flows. The project has also engaged a retainership of one of the World’s leading asset tracing firms. Nigeria has also solicited and obtained input from various nations who have availed us with data under the many conventions and treaties we have signed. The project has been able to create accurate financial profiles of many thousands of Nigerian companies and individuals which shows levels of noncompliance. [myad]
The National Economic Council (NEC) rose from its monthly meeting at the Presidential Villa today, Thursday, advising governors of the 36 states of the federation to take measure to execute convicted criminals in their various prisons as a way of decongesting the facilities.
The governors were also advised to consider commuting the death sentences of some of the condemned criminals to life imprisonment for the same purpose.
Speaking to news men shortly after the meeting, which was presided over by the acting President, Professor Yemi Osinbajo, the minister of interior, retired General Abdulrahman Dambazau, said: “the governors and NEC agreed that the governors should either sign their dead sentences or commute them as they wish because they also serve as a risk if a judgment is delivered but the governors are not taking action on that.”
The Minister also made it clear that they are beginning to do some prison farms and farm equipment and some of these prisoners that are available and could move freely could be engaged in agricultural programmes. [myad]
Imo State Governor and the Chairman, All Progressive Peoples (APC) Governors Forum, Chief Rochas Okorocha has condemned the claim by the Ekiti state governor, Ayo Fayose, that President Muhammadu Buhari has been on life-support in a London hospital, describing such claim as a statement of hate.
“In our culture and tradition, we do not play politics with people’s lives and anybody can be sick; anybody can be in the hospital, and so making such categorical statement which is unfounded that Mr. President is on life support, is to the best of my knowledge a statement of hate.
“That is a cheap talk and Nigerians should not regard it. What we should do right now is to pray for Mr. President, wish him well; anybody can be sick. Even as he is sick out there, many people have been sick in Nigeria, so we should not politicize this and play politics with people’s lives and try to create hate and confusion in the system.”
Governor Okorocha, who was answering questions from news men covering the Presidency at the Aso Rock Villa in Abuja, said that it had become Fasoye’s style to talk about things that are capable of causing confusion and hate.
“Nigerians must never take that kind of talk serious.”
The Imo chief executives said that though Nigeria has been passing through a very difficult time, but that many great nations of the world have passed through similar circumstances before getting to their point of greatness.
He argued that Nigeria will not be an exemption even as he advised Nigerians to see this time as a trying period for Nigeria which he said, shall overcome.
“So this is the time to preach love; this is the time to love one another. This is the time to embrace one another; this is the time to preach peace, especially on more of the things that unite us as a people and talk not at all about the things that will divide us.”
Part of Governor Okorocha’s interaction is reproduced here:
“The Acting President is doing a beautiful job; he is meeting up the daily duties of Mr. President and there are no vacuums and so there is no cause for alarm. We must at this point give every support to Mr. President and we are hoping that very soon, Mr. President will come back and join us.
So that statement (of Fayose) is a call for concern. I do not know if he is speaking from the point of view of being the chairman of the PDP governor’s forum or he is speaking as a person or as a governor. I do not understand but whatever it is, people must disregard this statement.
We are not in campaign any more. President Muhammadu Buhari suffered a lot of campaign when he was running for president. First his health should be left only for God to decide, it is not for man to decide his fate. President Buhari came into power under an unusual circumstances to defeat an incumbent president which is very uncommon in our political history. So I believe his health is in the hands of God and nobody should play politics with it. This is my advice to Nigerians. Let us focus on majors issues that concern us as a nation.
On that note, I appeal that everyone should disregard that statement. Mr. President will soon be back to commence his daily duties.”
On the issue of Nigeria’s unity.
“Well, we have all agreed that Nigeria remains a united and indissoluble country. But we must never take this unity of Nigeria for granted. We are better off a bigger nation; we are better off as one nation. We are going through problems but these problems do not mean they cannot surmount. We cannot afford to divide ourselves now, it will be an ill wind that will blow anyone no good.
So I support that; the governors’ forum support that, the APC governors support the unity of this country. We have deliberated on it and we are all proud of ourselves. None of us has spoken otherwise asking for division of this country, so Nigeria still remains united.
But one point is clear that we owe our youths, this generation and the future generation, a duty of care and we must bequeath to them legacy of unity to them and not legacy of division. We may have made mistakes as a nation but let us begin to correct them. What is important now is not about ourselves but our children and their children’s children. So we should see Nigeria beyond this period and see Nigeria in view of 100 years to come. Only then will we appreciate the effort and amount of work before us that we must do to get things right and prepare the future for our children.”
Fayose called for the President to resign. What’s your reaction?
“Well, I have just said that even the speculation he is making is wrong; it is unfounded. And if anybody is to speak about the President’s health, Fayose does not have the qualification to speak for the nation on whether Mr. President should resign or stay. It is not in our culture; it is not in our tradition. We sympathize with those who go through pains of ill-health, but we don’t wish them dead. We wish them well. And Mr. President’s office is properly taken care of by Mr. Acting President of Nigeria until Mr. President comes back home and continues his work and finishes his term. But to say he should resign is cheap talk and does not make sense in anyway.”
People say Mr. President is being treated with tax payers’ money and they demand accountability and full disclosure of his health issues. Don’t you believe that this is necessary?
“Well, let’s say to you that if there is an announcement that President Buhari today lacks money to treat himself abroad, believe me, more than 20 million Nigerians will contribute for his health. So this is neither here nor there. You must understand what he represents and who he is. President Buhari naturally does not lack funds. He has never owns funds himself but people support him if the need be. He lives for the people. Buhari must be seen as a great Nigerian who has made most sacrifice in many ramifications. You can see that from his family, you can see that from his children. He is not a man of wealth neither does he discuss it. Anytime he needs money, I’m sure millions of Nigerians will contribute even if is one kobo per head. So it is neither here nor there, talking about using national resources. He is the president of the Federal Republic of Nigeria and we must honour our President. It is that office; that office belongs to all of us.
It is very funny when people try to bring down the office of the President thinking that they are bringing down Buhari. There are two different issue, there is presidency and there is the person of Buhari but when it has to do with Nigeria’s presidency it concerns all of us. And we will take it out on any nation that insults our president but we can forgive anybody that insults Muhammadu Buhari as an individual but the Presidency of Nigeria is sacred and we must protect it.”
On Nnamdi Kanu…
“You must understand the position of a thing and what has created this hullabaloo. Nnamdi Kanu was a breakaway from MOSSOP. So it is agitation upon agitation.
Nnamdi Kanu is a young man seeking relevance, agitating for whatever he believes in, what he stands for must be treated separately from the entire Igbo nation. The question is does Nnamdi Kanu have the capacity to lead Igbos to war? Or lead me and the governors to war? So I will stand now and Nnamdi Kanu will tell me stand up let’s go to war? So sometimes we over dramatize issue just to make a big deal out of it and that has been the big challenge.
Like the gentleman that spoke for the Arewa youths, and these are not more than 17 young men speaking for millions of Arewa youths and it doesn’t make sense because if you ask any Arewa youth now whether he is part of this, he will tell you no. We don’t have that wisdom of narrowing things to the perspective where they belong but we like to enlarge it to create the confusion that we all enjoy and the confusion of not well taken care of will consume Nigeria one day. And that is what some of us are trying to avoid.
So the issue of Nnamdi Kanu should be treated as a young man agitating and seeking for relevance, these are two different issues. And he can ride on the back of supposed Igbo marginalization which has been said is not right, and ride on that sentiments and push his agenda but that does not mean that he is speaking for the entire Igbos.
I was in Chatham House and I remember how I was attacked by the IPOB boys when I was delivering my lecture. They walked up to me and they were shouting and I said calm down and the young man has never visited Nigeria. So it is our duty to call our younger ones to order but I want to assure Nigerians that they should not see that as a break but agitation given what they perceived that the South East has been neglected overtime politically, economically, socially and all that. Their roads are impassable; you cannot pass Port Harcourt road, Enugu road, Aba Road, Bayelsa road and all the roads. You can hardly see federal government presence in the South East. All the things you see are self-made things. So, this is a mix up. So he speaks his own and joins it with our issues and it now looks like a nationwide thing. That is not the issue.
We have called for unity and have agreed that we will remain united. Very soon, some of us have taken it upon ourselves to reach out to this young men and talk to them. We must understand that our young men are being frustrated. If they are as comfortable as we are they will not be able to say those things.
So whether we like it or not, this nation must make provision for the future generation who are now IT compliant, social media compliant, who have now access all the goodies in the world without touching it. They smell it but can’t feel it so they are asking why. So you can understand their frustration and so they no longer want to take the stories from us; they want to show that they are the people right now. Even in families right now, my children want to push me out of the system, when you are talking they say no, we know it better. So we must just accept the realities of times and see what we can do for the youths of the federal republic of Nigeria. I think the ministry of youths must give attention now to engage them productively.” [myad]
A group, under the canopy of the Buhari Media Support Group (BMSG) has described Governor Ayodele Fayose of Ekiti State as a serial liar and a born agent of confusion over the years who thrives in hate speeches and campaigns of calumny.
The group, which responded to Fayose’s claim that President Muhammadu Buhari has been on life support in a London hospital said that Fayose has been confirmed as a man that thrives in dishing out a cacophony of lies, including the one on the health of President Buhari claiming that he has been on life support system for 20 days.
“The comments of Fayosa did not come as a surprise because of his penchant for exhibiting the characteristics of a serial liar and a born agent of confusion over the years who thrives in hate speeches and campaigns of calumny.
“BMSG believes that most Nigerians are already familiar with the infantile character of the Ekiti State accidental governor, Ayodele Fayose. Nigerians are already familiar with his antics.”
A statement by the chairman, Austin Braimoh and secretary, Chief Cassidy Madueke, the group recalled that in 2015, the same Governor Fayose told Nigerians that President Buhari was dead in London, a claim that turned out to be the greatest falsehood of all times.
It said that not only did President Buhari return to Nigeria, but he ran a successful campaign in which he defeated Fayose’s candidate in that election.
“Fayose operates based on his figment of imagination as he will never disclose his source of information or show proof of his utterances. Today, the same character is telling us that the President is now on life support in London.
“If his assertions are right, then he needs to be told that it is an improvement to move from being dead to a life support. BMSG therefore appeals to the loquacious governor to allow the President recuperate peacefully and return to his duties.”
BMSG called on what it called the attention-seeking governor, to concentrate on the intractable challenges in his state and stop assailing Nigerians with lies, insults and abuse of immunity by engaging in malice and negative politicking to get attention.
“Nigerians need to pray together for the full and quick recovery of the leader and our nation. We call on well-meaning leaders of thought to call Governor Fayose to order and advise him to toe the path of reason and truth or he shuts up.
“Nigeria need peace to surmount its present challenges which are being squarely addressed by this administration.” [myad]
The minister of Science and Technology, Chief Ogbonnaya Onu has presented to the Federal Executive Council (FEC) in Abuja, a road map on science and technology aimed at taking over most of the gigantic public projects hitherto handled by the foreign experts from them.
The minister, while presenting the road map to FEC at its meeting today, Wednesday at the Presidential Villa, Abuja, regretted that for a long time, Nigerian students had shunned science subjects leading to emptiness in the area that has to do with science.
“We see that our lack of interest in science and technology has resulted in a situation where, if we want to embark on major projects in the country like building a dam, a refinery or airport or seaport, we rely on foreign expertise. When it comes to Science and Technology, many think
that we can’t do it; it has to be done from outside.
“This has created a lot of problems for us as a nation because when you import these things,, you also exporting jobs creating unemployment for our people and put undue pressure on the currency and also aggravating poverty in the nation.
“We decided that this must change; that we must have a science technology roadmap that will take our people beyond where we are now, to prepare Nigeria to be truly great nation where we will have the capacity to use the natural resources we have to meet the needs we have as a nation so that we can become self reliant. That will give us self confidence which we need to be a truly great nation.”
The minister said that in the roadmap, the very rich science and technology heritage of Nigeria as a nation was given much emphasis, adding the nation’s ancestors understood their environment as a result of which they were able to do as much as they did.
“If you take the Benin city walls, it is longer than that of China. We have fine works of arts; we were able to produce iron over 3,000 years ago and today we are unable to have our own iron and steel produced in the country. This is to let our young people know that they have a heritage and they should aspire to be far better than their ancestors.” [myad]
Nigeria has begun the exportation of yam tubers to the United Kingdom, in addition to exportation of cashew nuts to other countries like the United States of America, the Vietnam and others.
The minister of agriculture, Chief Audu Ogbe, who announced this shortly after the Federal Executive Council (FEC) meeting at the Presidential Villa, Abuja, today, Wednesday, said that the yam importation will be flagged off tomorrow, Thursday.
“Tomorrow we shall flag off this export in three container loads containing 72tones of Nigerian yams. Two containers went out in February; one arrived in New York on the 16th of this month. “This is important because for those of you who travel and many Nigerians out there, you go to shops where they sell African foods and you never see anything from Nigeria. It is mostly called Ghana yams. Now we account for 61% of the total output of yams in the world according to the Food and Agriculture Organization (FAO), the rest is shared amongst some countries in the West Africa and the West Indies.
“For us to go abroad and not find Nigerian yams in the market, it is an embarrassment.
Because Ghana is targeting $4 billion of yams in the next three years and if they can do that, we who are the masters of yam production have no business lagging behind. We don’t even consume all the yams we produce here because most of it is lost to wastages because of poor technologies in preservation.
“We are going to solar coolers in yam markets and yam producing areas to keep the temperature at 14 degrees Celsius, not frozen but to keep it at that temperature so that it can be good all year round and can last up to two to three years in the containers.
“Essentially, we are making this point because we are diversifying the economy; we are talking about economic recovery and growth and we will have to export whatever is needed from Nigeria by other countries so we can earn more foreign exchange rather than expend everything we have on importation.
“If they want yams we will sell yams, if they want pepper we will sell pepper, if they want ginger we will sell ginger. Just like we buy so much from them, it is time for them to buy from
I assure you this is how the economy of Nigeria we are dreaming of is going to recover.
“The only challenge we may face will be the question of labour. The young men who make heaps are reducing in number because they are moving to the cities riding okada and looking for white collar jobs.
“To solve that problem, we are mechanizing the production of yams. We have designed a new plough that will be attached to the tractor to make the yam heap, the current ploughs we have cannot make a heap.
“In Ilorin, the Nigerian Centre for Agric Mechanization is producing a new plough that can make the yam heaps and once that is in operation, we will mechanize the production. We should look at the opportunity to export yams not as a problem but as an economic opportunity.”
The minister said that Nigerian government had so far shipped some consignments of yam to the US.
Audu Ogbe said that the other good news is cashew nuts which though look small, but is making a lot of money for the country.
“We are in conversations with Walmart, the biggest supermarket chain in the US. They came here and asked us to roast cashew nuts for them. Their demand is a 130,000 tonnes of cashew nuts per annum and the total value is $7 billion, but what we are doing now is shipping raw cashew to Vietnam; they are the ones roasting and selling to the US. This year, we are going to create six cashew processing factories in Nigeria, to be sited in Enugu, Imo, Benue, Kogi, Kwara and Oyo states. These are the cashew belt for now. [myad]
The Central Bank of Nigeria (CBN) has boosted the foreign exchange market by intervening in various segments of the inter-bank market to the tune of $195 Million today, Wednesday, the first day of transaction after the Eid-el-Fitr celebration.
A breakdown the intervention indicates that authorized dealers in the wholesale window segment received a $100 million offer from the Bank, while the Small and Medium Enterprises (SMEs) and invisibles windows were allocated the sums of $50 million and $45 million, respectively.
The Bank’s Acting Director of Corporate Communications Department, Mr. Isaac Okorafor, confirmed the figures, saying that the Bank was impressed by the high level of transparency exhibited by stakeholders in the market.
It will be recalled that the CBN in its last intervention on Friday, June 23, 2017, allocated the total sum of $240 million to the Retail Secondary Market Intervention Sales (SMIS) for spot and forward deals.
With the rate of inflation dropping from its April 2017 figure of 17.24% to 16.25 % at the end of May, 2017, the CBN spokesman says the Bank remains upbeat that the fortunes of the Naira will improve further in the months to come.
Meanwhile, the naira continued its stability in the FOREX market, exchanging at an average of N363/$1 in the BDC segment of the market on Wednesday, June 28. [myad]
Minister of Agriculture, Chief Audu Ogbe has said that Nigerians have been so used to importing almost everything on earth that it would be difficult to stop them from importing.
Speaking to news men shortly after the weekly Federal Executive Council (FEC) meeting at the Presidential Villa, Abuja, Chief Ogbe said: “as for importation I’m afraid that we have developed an appetite for import which will take a while to cure. There are Nigerians who will use their cell phones to import pizza from London. They won’t taste pizza made in Nigeria. You can’t ban them; you can’t go into laws on that because people will say you are being trivial.”
The minister swore that if India had done what Nigeria did in 1986 by opening its doors to import as freely as it did, India would have ceased to exist by now; they locked their doors against reckless importation.
“Instead, here (in Nigeria), we opened our door to what they called free trade. We didn’t just open our doors, we removed our roof and windows and foreigners dumped whatever they wanted.
Today, we are blaming the current government. What happened was bound to happen because we were far too much into importation of just everything. Food exports have gone up in Nigeria in the last one year by 82 percent and we want to make sure that what we send meets the finest standard in the market.
“If people choose to use their money to import irregular or unnecessary items, government would look into that and apply adequate regulations to rationalize importation. We are not banning anything but if you must import things that are not necessary, be prepared to pay the duty on them.”
Chief Audu Ogbe is happy that the tight economic situation is gradually curtailing the attitude of Nigerians to import, saying: “thank God we are getting a bit broke, so people are cutting down on those luxuries. I can ask you for instance is champagne our priority at this time.” [myad]
Former Taraba state governor, Dambaba Suntai, who survived an air crash at the Yola Airport in 2012, is dead. Suntai, who was reported to have sustained brain injury in the 2012 air crash, died at his home today, Wednesday.
A former Commissioner for Information in the state, Mr. Emmanuel Bello, broke the news of the death.
Suntai became governor of Taraba state in 2007 and was sworn again on May 29, 2011 for a second term.
A pharmacist by training, Suntai enrolled for training as a pilot at the Nigerian College of Aviation in Zaria in 2010 and was thus licensed.
Prior to his plane crash in 2012, Suntai had been flown to Germany for medication after returning from his annual leave in August 2009, following a sudden ailment that was suspected to have developed from food poisoning.
On his return from Germany, Suntai spoke at the opening of a three-day regional convention of the Full Gospel Businessmen’s Fellowship International in Jalingo, where said his meal was actually poisoned.
He had had several successful flights with his private aircraft even while piloting the affairs of Taraba State as governor.
But his current travails started precisely on October 25, 2012, when a private plane he piloted crashed in Yola, the Adamawa State capital.
After receiving the initial treatment at the Adamawa Standard German Hospital in Yola he was later transferred to the National Hospital Abuja on October 26, 2012. From there he was flown to Germany and was later taken to a rehabilitation centre in the United States for further medication.
After 10 months of medical sojourn overseas, Danbaba Danfulani Suntai finally returned to the country on August 23, 2013.
After weeks of political intrigues in the North-East state based on claims and counterclaims over his health status, it was revealed that the former Taraba State governor was not healthy enough to live in Nigeria without adequate treatment, or to govern a state.
He was subsequently flown abroad again for treatment, even as his then deputy, Garba Umar, was empowered by the Taraba State House of Assembly to fully take over the ship of the state in acting capacity.
He was brought back in the build-up to the 2015 elections and remained confined in Jalingo until after the change of guards on May 29, 2015.
Suntai was born June 30 1961 and attended the Ahmadu Bello University, Zaria where he studied pharmacy.
The 2017 edition of the GTBank Masters Cup for secondary schools, will reach its climax tomorrow, Thursday, at the waterfront Onikan stadium in Lagos.
According to a statement from the bank, the football tournament is destined to end on an historic note as old rivalries will be renewed in the two matches that will feature the four most outstanding teams in this year’s competition.
The statement said that the Master Cup competition was established in 2012 and had since being annually for first generation and private secondary schools in Lagos State.
The games, the statement added, is geared towards the development of grassroots football, the discovery of young soccer talents, and fostering camaraderie amongst competing schools.
It said that the opener of this year’s final will be the match between Queens College, Yaba and Ansar-Ud-Deen Girls High School, Itire – a repeat of the keenly contested 2014 finals which, last time, ended 4-3 on penalties in favor of Queens College.
“In the male category, two-time winners of the competition Anwar-Ul-Islam College, Agege will face arch-rivals St. Finbarr’s College, Akoka. Both teams met in the group stage of the competition in a thrilling encounter in which St. Finbarr’s College romped to a 6-2 win to finish top of Group A.
“Except for St. Finbarr’s College who finished 2nd in 2015, three out of the four finalists have won the trophy in the past. Anwar-Ul-Islam College won the maiden edition of the competition in 2012, and retained the title the following year. They remain the only male teams that have won the tournament twice in the highly competitive category.
“Queens College has been the dominant force in the female category having won 4 times (2012, 2014, 2015 and 2016) while Ansar-Ud-Deen Girls High School, Itire emerged winners in 2013. Other past winners in the male category include Eko Boys High School, Mushin (2014) St. Gregory’s College, Ikoyi (2015), and Greensprings Schools, Lekki (2016).
The statement quoted the Managing Director and Chief Executive Officer of GTBank, Segun Agbaje, as saying: “we are proud to lead this initiative that provides an avenue for students to showcase their talents and passion for the game of football even as they remain committed to their academics. “This competition paves the way for youths to cultivate their sporting talents and aptitudes, while fostering and building a healthier lifestyle at a critical stage in their lives.” [myad]
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Minister of Agriculture, Chief Audu Ogbe has said that Nigerians have been so used to importing almost everything on earth that it would be difficult to stop them from importing.
