Business
#EndSARS: President Buhari reaffirms commitment to protecting the rights of all citizens
President Buhari has reassured that the rights of all citizens will be protected.
President Muhammadu Buhari has restated his commitment to improving good governance and ensuring that the rights of all citizens are protected, in a bid to preserving the unity of Nigeria. He made this known during a virtual meeting with all living former Heads of State and Presidents of Nigeria.
According to a statement by the Presidency via its official Twitter handle, the meeting was well attended by former Presidents Olusegun Obasanjo, Goodluck Jonathan, Chief Ernest Shonekan; former Heads of State, Gen. Yakubu Gowon, Gen. Ibrahim Babangida, and Gen. Abdulsalami Abubakar.
The meeting comes less than 24 hours after President Buhari’s state of the nation address, where he called for an end to the #EndSARS protests as their voices have been heard.
Backstory
Nairametrics had earlier reported that President Buhari would be presiding over a National Security Council meeting with former Heads of State and Presidents.
According to the information contained in the tweets, President Buhari stressed that his administration will continue to improve good governance through the defined democratic process and sustained engagement.
During the meeting, the President recounted the initial concessions made by his administration on the demands of youths protesting against the excesses of some SARS members.
Buhari said that all the demands are accepted and that he has proceeded immediately to scrap SARS and commence the process of addressing the other demands made.
Business
FIRS to commence recovery of all outstanding tax debts and penalties from January 1, 2021
The FIRS has stated that it shall recover all outstanding debt with penalties and interest from January 1, 2021.
The Federal Inland Revenue Service (FIRS) has disclosed that its waivers on penalties and interest on outstanding taxes arising from desk examinations, audit exercises, investigations, or all other forms of tax assessment will close on December 31, 2020.
Hence, effective from January 1, 2021 the Service shall recover all outstanding debt with penalties and interest, in accordance with the provisions of the extant tax laws.
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This disclosure was made by Abdullahi Ismaila Ahmad, the Director of Communications and Liaison Department, Federal Inland Revenue Service, in a press release issued on December 2, 2020.
Consequently, the Executive Chairman, FIRS, Mr. Muhammad Nami, in a notice urged taxpayers to use the advantage of the remaining days of this month to settle their tax obligations in order to enjoy all subsisting waivers offered thereof by the Service.
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The Executive Chairman in the reminder notice tagged “Public Notice on the Recovery of Outstanding Taxes from Taxpayers”, disclosed that FIRS in recent times, has issued a series of palliatives for the waivers of penalties and interest on outstanding taxes.
He explained that the Service had noticed that some taxpayers are yet to take advantage of the palliative windows opened to cushion the effect of the challenges of the economy on taxpayers.
READ: Taxes you should be aware of before starting a business in Nigeria
Mr. Nami, however, called the attention of taxpayers to the last window of opportunity for the waiver of outstanding penalties and interest on all taxes collectible by the Federal Inland Revenue Service, which will close on 31st December 2020.
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What they are saying
Mr. Muhammad Nami, in the reminder notice, said:
“The Service has observed that some taxpayers are yet to take advantage of the palliative windows opened to cushion the effect of the challenges of the economy on taxpayers.
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“Furthermore, the Service wishes to put all taxpayers on notice that the last window of opportunity for the waiver of outstanding penalties and interest on all taxes collectible by the Federal Inland Revenue Service shall close on 31st December 2020.
“Consequently, all concerned taxpayers are hereby put on notice that after the expiration date of 31st December 2020, the Service shall recover all outstanding debt with penalties and interest, in accordance with the provisions of the extant tax laws such as ‘the power of substitution’ conferred on it by Section 31 of the Federal Inland Revenue Service (Establishment) Act 2007.”
Business
Ngozi Okonjo-Iweala bags Forbes African of the Year, 2020
Nigeria’s Okonjo-Iweala has emerged the first African woman to win Forbes’ African of the Year award.
Ngozi Okonjo-Iweala, Nigeria’s former minister of Finance and former Managing Director of the World Bank, has been named the Forbes African of the Year, 2020.
Forbes Africa announced on its official Twitter handle on Tuesday as it tweeted, “The 2020 #AfricanOftheYear Award honoree is…Congratulations to Dr. @NOlweala! Board Chair @Gavi; Board Chair @ARCapicity, gracing the cover of @forbesafrica,”
The honouree of the award would grace the cover of Forbes Africa magazine.
Last year’s edition of the award was also won by a Nigerian, Dr. Akinwunmi Adesina, the President of the African Development Bank (2013 and 2019). Other Nigerians that have won include Muhammad Sanusi II (2011), Aliko Dangote (2014), amongst others.
In response to the tweet by Forbes Africa on its official handle, the 66-year-old replied through her Twitter handle saying she was thrilled to win the award and also dedicated the award to Africans suffering from the impact of the pandemic.
“Thrilled to be named @forbesafrica-CNBC 2020 African of the Year following in the footsteps of my great Brothers @PaulKagame and @akin_adesina,This award is for fellow Africans suffering the health & economic impact of Covid19. The energy and resilience of Africans inspire me!,” she tweeted.
The award is coming weeks after Okonjo-Iweala emerged the overwhelming choice for the post of the Director-General of the World Trade Organisation after gaining the support of the majority of the 164 member-nations.
Business
N117 billion approved by FG for road rehabilitation
Babatunde Fashola has disclosed that the FG has approved the sum of over N117 billion for road rehabilitation across the country.
The Federal Government has approved the sum of over N117 billion for the rehabilitation of roads across the country in 2021.
This was disclosed by Babatunde Fashola, Minister of Works and Housing, in a press briefing after the Federal Executive Council (FEC) meeting was held in Abuja on Wednesday.
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What you should know
- Nairametrics reported last month that Mr Fashola had stated that the Ministry’s priority in its 2021 budget was to complete already ongoing road and bridge projects across the nation.
- Fashola also said that the Federal Government needed at least N500 billion annually for the next 3 years to develop and fix its 35,000 kilometres road network, as work continued on 13,000 kilometres of the network.
- Fashola stated last month that the Federal Government was committed to finishing the Lagos-Ibadan expressway, adding that the drop in crude oil prices could not be a barrier to its completion.
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Fashola disclosed on Wednesday that the sum of N18.9 billion, was approved for the rehabilitation of roads and bridges including the 26 km of Kano-Dambatta-Kazaure-Daura road, Anambra- Enugu Roads, Bridge construction Cross River, Nkumi bridge and others.
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“The other memorandum relating to roads also is for the total sum of N98.7 billion,” he added. This includes roads and bridges in Zamfara, Kebbi, Katsina, Anambra and Kano
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Amazing news
October 24, 2020 at 3:34 am
We pray he stick to his commitment, if not the youth are already tire of him.