The Federal Capital Territory Internal Revenue Service (FCT-IRS) announced that it collected N262 billion in Internally Generated Revenue (IGR) in 2024.
Additionally, the service revealed that it collected N43.8 billion in taxes in January 2025.
Acting Executive Chairman of FCT-IRS, Michael Ango, disclosed this information on Thursday during the service’s annual sensitization campaign aimed at mobilizing FCT residents for voluntary tax compliance.
Ango explained that by the end of December, the FCT-IRS had collected a total of N262 billion, which represents a N12 billion increase from the N250 billion target for 2024.
While the performance was impressive, the executive chairman expressed confidence that 2025 would be even better, noting that the service had commenced the year very strongly.
“In January, we collected N43.8 billion, and so far in February, we are also on track. The reality about the collection is that these monies are not manufactured; they are paid by taxpayers and residents of this town,” Ango said.
The taxes
He identified some of the taxes collected by the FCT-IRS, including personal income tax, capital gains taxes, stamp duties, property taxes, entertainment tax, and fees due to the FCT.
Ango emphasized that the FCT-IRS works for the entire FCT, explaining that it collects revenue for the FCT Administration, area councils, FCT Secretariats, departments, and agencies. He added that the service collaborates closely with all sister agencies, both at the federal and FCT levels.
“We have been reaching out to various agencies, and what we are hoping to do is to create a revenue ecosystem whereby everybody believes that they are partners and stakeholders in raising revenues for the FCT,” Ango said.
What you should know
- The FCT-IRS had previously mandated private companies, Ministries, Departments and Agencies (MDAs), and all other employers of labor in the FCT to file their employee annual tax returns for 2024 before the deadline of January 31, 2025.
- Ango stated that this ordinance was in compliance with Section 81 of the Personal Income Tax Act (PITA) 2011 (as amended) and the PAYE Regulations, which mandate all employers of labor in the FCT to file annual returns of all emoluments paid to their employees and the total taxes, no later than January 31 of each year for the preceding year.
- The returns are to be filed using prescribed forms provided by the FCT-IRS. Ango had earlier described the filing of the employee annual returns as a mandatory provision of the law, adding that failure to comply will attract penalties and other sanctions.
He urged all private organizations, MDAs, government-owned enterprises, and even sole proprietorships who are employers of labor in the FCT to comply with their tax obligations to avoid sanctions, noting that the best form of compliance is voluntary compliance.
