FG Gives Wealthy Tax Evaders 90 Days to Declare Assets Says N1.3trn spent on capital projects in 2016 Ambode demands review of revenue allocation formula Gboyega Akinsanmi and Akinwale Akintunde
face the full wrath of the law. The ultimatum came through Vice-President Yemi Osinbajo during the 57th Annual Conference of the Nigerian Bar Association
The Federal Government yesterday said it had given tax evading wealthy Nigerians and corporate bodies 90 days to declare their taxable income and pay appropriate taxes or
(NBA) in Lagos, where the state Governor, Mr. Mr. Akinwunmi Ambode, called for a review of the country’s revenue allocation formula. Osinbajo had in June
2017 signed an executive order on Voluntary Assets and Income Declaration Scheme (VAIDS), aimed at facilitating tax collection by revenue collection agencies.
Under the order, tax evading individuals and companies were to be given days of grace to declare and pay their outstanding tax obligations, failing which they would be
PDP’s Understanding of Restructuring Nigeria Shallow, Says APC… Page 12
prosecuted. The order took effect from July 1, 2017 and would last till March 31, 2018. Osinbajo had been particularly critical of wealthy individuals and private bodies Continued on page 8
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Buhari Works From Home Pending Renovation of Office It’s in order, says Oyegun Saraki, Dogara receive notice of resumption Mixed reactions to president's speech Tobi Soniyi, Segun James, Shola Oyeyipo inLagos,Omololu Ogunmade, Damilola Oyedele, Onyebuchi Ezigbo inAbujaand Omon-Julius Onabu inAsaba President Muhammadu Buhari, who resumed duties
yesterday after 103-day medical vacation abroad, will operate from his official residence until the completion of the renovation of his office, the Presidency said yesterday. Continued on page 8
FG Increases Local Content Fund to $200m Dangote refinery to select vendors from Nigeria’s oil industry database Ejiofor Alike The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, yesterday said the agency had obtained all necessary approvals to relaunch the Nigerian Content Intervention Fund (NCI Fund) and had increased the pool available for lending to qualified oil and gas players from $100 million to $200 million. This, he said, was to increase the opportunities for
more deserving companies to benefit from the fund. He spoke in Lagos just as Dangote Refinery said it would select competent Nigerian vendors that would participate in the construction of its plant from the Nigerian Oil and Gas Industry Joint Qualification System (NOGICJQS), the database of available capacities in the oil and gas industry managed by the NCDMB. The Chief Operating Officer of Dangote Refinery, Mr. Giuseppe Surace, made this commitment at Continued on page 10
WORKING FROM HOME… President Muhammadu Buhari and his Chief of Staff, Mr. Abba Kyari, during the signing of a letter notifying the National Assembly of his return to work … yesterday state house