The Federal Inland Revenue Service (FIRS) has announced a strategic partnership with the Market Traders Association of Nigeria (MATAN) to revolutionize the collection and remittance of value-added tax (VAT) in the informal sector through the implementation of unified systems technology.

The collaboration, known as the VAT Direct Initiative (VDI), aims to enhance VAT collection and raise awareness about remittance requirements within the marketplaces and informal sector. By leveraging technology, the initiative also aims to simplify the process of VAT payment and remittance for businesses operating in the informal sector.

In a statement released by the FIRS, it was highlighted that this partnership with MATAN will grant the agency access to Nigeria’s vast market space, which comprises over 40 million traders across the country. MATAN’s digital platform will play a crucial role by providing digital identification for its members and tracking their turnover, enabling the collection and remittance of the VAT accrued to the FIRS.

Through the VDI, the FIRS intends to address the issue of multiple taxation in the marketplaces by collaborating with security agencies to combat the activities of individuals involved in illegal tax collection, such as touts, miscreants, and self-appointed tax collectors.

Additionally, the VDI is expected to significantly boost VAT revenue generation for all three tiers of government, providing them with additional funds to invest in infrastructure development, social amenities, and the welfare of citizens.

The partnership between FIRS and MATAN will establish a monitoring and evaluation team comprising FIRS officers and MATAN members. This team will ensure transparency, accountability, and the prompt remittance of VAT while fostering sustained commitment, all of which are essential for building public confidence in the tax collection process.

As part of the initiative, each MATAN member will be issued an Identity Card upon enumeration, containing their Tax Identification Number (TIN) and other personal details required for tax purposes.

Despite the extensive economic activities in the informal sector, Nigeria’s tax net has primarily focused on the formal sector. Recognizing the untapped potential for tax collection in the informal sector, tax experts have highlighted the significance of this collaboration in expanding the tax base and maximizing revenue potential.

The senator representing Ekiti Central, Opeyemi Bamidele, has been announced as the senate leader for the 10th Senate.

Dave Umahi, representing Ebonyi South, was also announced as deputy senate leader.

Ali Ndume, representing Borno South, was announced as chief whip of the Senate, while Lola Ashiru, representing Kwara South, was announced as deputy chief whip of the Senate.

The announcement for the principal positions was made at a plenary presided over by the Senate President, Godswill Akpabio, on Tuesday upon the resumption of members of the upper legislative chamber.

Mr. Akpabio said the newly appointed principal officers were consensus candidates of the All Progressives Congress (APC) caucus of the Senate.

After the announcement was made, Mr. Akpabio directed the new principal officers to be seated at their appropriate seats in the front row.

Other members of the Senate congratulated the newly appointed principal officers.

The senate president, after that, announced a closed-door session.

Mwadkwon, Olalere were named minority leaders

Upon resumption from the closed-door session, Mr. Akpabio said that the six minority parties in the upper house had picked their leaders.

He, therefore, announced Simon Mwadkwon (PDP, Plateau North) as the minority leader and Oyewunmi Olalere (PDP, Osun West) as the deputy minority leader.

He said Darlington Nwokeocha (LP, Abia Central) was appointed minority Whip, while Rufai Hanga (NNPP, Kano Central) emerged as deputy minority whip.

After the announcement, the Senate President directed the minority leaders to sit at their appropriate seats in the front row.

…directs immediate upgrade of stool to first-class status

Kogi State governor, Yahaya Bello on Saturday attended the coronation of the Akinrin of Ekinrin Oba Johnson Kolade-Otitoju where he re-affirmed his respect for the traditional institution in the state and particularly Ekirin-Ade, a community he described as peaceful and courageous.

The governor at the occasion also directed the Commissioner for Local Government and Chieftaincy Affairs, Hon. Deedat Ozigi to immediately commence the process of upgrading the stool of the Oba of Ekirin-Ade to a first-class status noting that for fairness, justice, and equity which his government represents, the community deserved such recognition.

Governor Bello congratulated the newly coronated traditional ruler, who he recalled to be a pioneer teacher at Abdul-Azeez Atta Memorial College, Okene describing him as a disciplinarian while also attesting that the Royal Father has lived a fulfilled life with the point of reference to successful wards the Oba has raised.

While assuring the Royal Father of continued support from the government, he noted that Ekirin-Ade would benefit from several of his administration’s plans for the traditional institution including the plan by the Ministry of LGA and chieftaincy Affairs to give traditional palaces a befitting appearance across the state.

The governor also used the occasion to congratulate the Kogi West senatorial district whom he described as great lovers of education over the recent approval of the establishment of Kogi State University, Kabba. He also thanked the citizens for their efforts and cooperation toward the actualization of this long-desired aspiration by the people of the region.

He pointed out that his government was solely interested in ensuring that the people make progress and they feel the impact of good governance while he again appreciated the traditional institution for their support and encouragement which he noted has compelled his government to deliver dividends of democracy to the people.

In his vote of thanks, Veteran journalist and son of the coronated traditional ruler, Babajide Kolade-Otitoju thanked the governor and his entourage for gracing the occasion to rejoice with the community and gift such a pleasant surprise of the stool upgrade.

He noted that the governor made the occasion a memorable one adding that his good deeds would continue to be remembered in the history of the state.

The Governor was accompanied to the event by the November 11 Gubernatorial Candidate of the All Progressive Congress, Alhaji Ahmed Usman Ododo, his Chief of Staff, Pharm. Abdulkareem Jamiu, Commissioner for Local Government and Chieftaincy Affairs, Hon. Deedat Ozigi, State Accountant General, Alhaji Jubril Momoh as well as other top government functionaries.