CAGS Iperu old students condole Oriyomi-Onanuga's family, constituents

Members of the Christ Apostolic Grammar School Old Students Association (CAGSOSA) have expressed sadness over the passing of Rt. Hon. Adewunmi Oriyomi-Onanuga, who until her demise represented the Sagamu/Ikenne/Remo North Federal Constituency and served as the Deputy Chief Whip at the Federal House of Assembly, Abuja.

Her former schoolmates sympathised with her family and constituents, praying God give them the fortitude to bear the irreparable loss.

“On behalf of the National President, Mr. Armstrong 'Tope Akintunde, the National Executives, and all members of CAGSOSA extend our heartfelt condolences to the members of the Federal House of Assembly, the people of Ogun State—especially her constituency—and her immediate family.

“This is an irreplaceable loss not only to her family but to all who knew and were impacted by her remarkable service and dedication to the development of her constituency and beyond.

“We pray for the peaceful repose of her soul and that God grants her family and loved ones the strength and fortitude to bear this great loss,” a statement signed by Prince Gaffar Adesoga Owokalade, said.

Dapo Abiodun Continuity Agenda mourns Oriyomi-Onanuga

The Convener and the entire members of the Dapo Abiodun Continuity Agenda have commiserated with the family Rt. Hon. Adewunmi Oriyomi-Onanuga over her sudden death.

They also sympathised with the good Sagamu/Ikenne/Remo North Federal Constituency whom the lawmaker represented at the House of Assembly until her death on Wednesday, January 15, 2025.

In a statement, DACA convener, Armstrong 'Tope Akintunde, said Oriyomi-Onanuga, popularly recalled that Ijaya until her death, was the Deputy Chief Whip, Federal House of Representatives, Abuja.

“We are saddened by this irredeemable loss because we are not unaware of her major contributions to the development of her constituency through medical outreach, agricultural intervention programmes and advocacy for widows and the less privileged as well as proper education for the girl child.

“As we mourn her passing, we take solace in the Almighty God that our separation is temporal, and that her legacies will speak further many years after her demise.

“Let me mention that her political sagacity, business acumen and intellectual contribution to national issues at the Green chamber will be truly missed, we pray that the Almighty God grant her family and the entire people of Ogun State, the fortitude to bear this immense loss. May her soul find solace in God,” he concluded.

Gbenga Adeoye Mourns Cash Madam

Abeokuta, Ogun State – Dr. Gbenga Adeoye, a prominent figure in Abeokuta, is mourning the loss of the legendary businesswoman and philanthropist, Cash Madam, who passed away in the early hours of the morning.

In a heartfelt statement released on behalf of the Adeoye family of Lemo Compound, Erunwon, Ake, Abeokuta, Dr. Adeoye paid tribute to the fearless business guru, describing her as a woman whose influence and legacy transcended generations. He described Cash Madam as a “woman like a man,” noting her unmatched boldness and fearless approach to life and business.

Dr. Adeoye expressed his sorrow, stating that her passing has left the community in shock, especially after the recent loss of another influential figure, Iyalode Alaba Lawson. He fondly remembered his numerous interactions with Cash Madam, particularly on business and land matters, and admired her clarity of purpose and determination.

“Her ability to embrace the name 'Cash Madam' without hesitation was a testament to her fearless character,” Dr. Adeoye wrote, acknowledging her unwavering commitment to success. Her legacy, he noted, continues to inspire many, with songs and tributes pouring in to honor her life and achievements.

Dr. Adeoye also highlighted the way Cash Madam instilled values of giving and hard work in her children, with her son, Engr. Mutiu Adebowale, serving as a true reflection of her spirit. He commended Engr. Adebowale’s dedication to community service and his support for institutions like ICAN in Abeokuta.

In closing, Dr. Adeoye prayed for comfort and strength for Cash Madam’s family and the entire community as they come to terms with the loss. He also called for the emergence of new fearless women to follow in her footsteps, ensuring that her legacy continues to shape the future of Egbaland, Ogun State, and Nigeria.

"Adieu, Cash Madam," he concluded, honoring a woman whose life will forever be etched in the history of Egbaland.

Dr. Adeoye’s statement reflects the deep sense of loss felt by the entire community, as Cash Madam’s passing marks the end of an era of bold leadership and entrepreneurial success.

Obasanjo Urges Egbas to Make Abeokuta Model City

 

In a heartfelt New Year address, former President Olusegun Obasanjo called on all Egbas to unite in transforming Abeokuta into a city so comfortable and appealing that visitors to Ogun State will have no reason to leave. 

The statement was made during a celebratory gathering at the residence of Dr. Gbenga Adeoye in Ibara GRA, Abeokuta, where prominent figures from various sectors came together to usher in the New Year.

Chief Obasanjo emphasised the importance of making Abeokuta an ideal place to live, noting its proximity to Lagos as a unique advantage. He expressed his commitment to ensuring the city continues to develop, offering a conducive and elegant environment for residents and visitors alike. "We must ensure that anyone who visits Abeokuta will find it so comfortable that they would not want to leave," he said.

The former President also acknowledged Dr. Gbenga Adeoye's significant contributions to the development of Egbaland and Ogun State, praising his continuous efforts to improve the region's social and economic landscape.

As part of the New Year celebrations, Pastor Funmi Kushimo (Apostle) delivered a sermon, urging attendees to place their faith in God for the year ahead. The message resonated with the crowd, encouraging them to trust in divine guidance as they navigated the year.

In attendance were notable figures such as Hon. Kayode Amusan, Senator Gbenga Obadara, Mr. Tunde Aroyeun, Chief Shina Luwoye, Chief Tokunbo Odebunmi, and many others, all of whom gathered to mark the occasion with Dr. Gbenga Adeoye and his family.

The New Year's gathering, which included family members, local dignitaries, business leaders, and close friends, underscored the spirit of unity and collective responsibility for making Egbaland a better place to live. Dr. Adeoye, in his vote of thanks, expressed gratitude to Chief Obasanjo and all the guests, highlighting the significance of their presence as a show of love and solidarity.

In closing, Dr. Adeoye encouraged all to remain kind-hearted in the new year and continue contributing to the betterment of Ogun State and Nigeria as a whole. He also shared a prophetic message that 2025 would be a year of the manifestation of God's power and glory, promising that the year ahead would surprise many with unexpected blessings and divine interventions.

Egba Lokan Agenda didn't adopt Yayi as 2027 Ogun guber candidate – Chairman

The Egba Lokan Agenda 2027 has denied claims that it has adopted the senator representing Ogun West, Solomon Adeola as the governorship candidate for Ogun in the next election.

The group said it regrettably found itself in an unfortunate controversy surrounding a publication claiming it has adopted Yayi as one of the Egba hopefuls for the 2027 Ogun governorship race.

It stated that the “misleading information” emanated early last week when a report attributed to the organisation, purportedly issued by Professor Yemi Oke, one of the founding member of the Egba Lokan Agenda 2027, surfaced online. 

In a statement by the chairman of the group, Chief Mustapha Abdulhakeem, its attention was drawn to a news article on THIS DAY, referencing the Prof. Yemi Oke's report as a basis to curry cheap political advantage for the “legitimisation-seeking” ambition of Senator Yayi to rule Ogun State in 2027. 

“Therefore, the Egba Lokan Agenda 2027 is compelled to write a rejoinder to set the record straight, especially for the unsuspecting public who may be misled by these desperate politicians and actors. Save for mere propaganda and mischief-making, Hon. Kayode Oladele, the attributed source of the THIS DAY news article titled "Ogun Guber: Oladele Lauds Egba Position on YAYI," is much aware that Prof. Yemi Oke neither has the capacity to dictate the political future of Egba land nor does he carry the authority of the Egba people to so define its political template, not to talk of in the unilateral tone he has spoken.

“We must also emphasise that the Egba Lokan Agenda 2027 is clear in its definition, vision, and objective, and the district hopper, always searching for new colonies to explore and exploit, does not fit into the least condition. Therefore, we consider Prof. Yemi Oke's interest in purely personal as far as senator yayi’s ambition is concerned at best, his personal opinion, which he has a right to. Although we are not shocked that, given his boisterous status as a professor and senior advocate of Nigeria. That may be expected.

“It is even laughable that anyone will certify anybody as Egba indigenes under my authority. We are also aware that The Olu of Ilaro had stated that The senator representing Ogun west is their son but we are yet to hear the same pronouncement from the Alake and Paramount Ruler of Egbaland or any other Oba in Egbaland hence the disclaimer,” the statement read.

He stated further, “Meanwhile, it is more important to remind Hon. Oladele and his co-traveler that Egba land has never, is never, and will never be in shortage of credible individuals of known pedigree, uncontroversial descent, and unwavering patriotism to provide leadership at any level of government: state, national, or international.

“In fact, we find it an aberration in Egba land, a contradiction to our civilisation, and demeaning of our status that we would have to hire a political machinery to provide leadership at the intranational level when we have consistently produced and provided impeccable leadership for the nation and represented the nation at the global level. Even currently, the Egbas have three federal ministers: Wale Edun, Jumoke Oduwole and Dr Bosun Tijani, who have shown outstanding performance as key national players in the governance sector.

“We have had the likes of Chief Olusegun Obasanjo, Chief Earnest Shonekan and chief MKO Abiola ascending to and winning a nationwide election as bonafide Egbas. So we are not short in supply of credible personalities. The above, aside from the plethora of lists of already known guber aspirants that aptly combine technocracy and politics with intimidating credentials that place them far above current gladiator that the article intends to introduce from the backdoor. Hon. Sarafa Tunji Ishola; Senator Lanre Tejuosho; Rt Hon Dimeji Bankole; Hon Kayode Amusan; Hon Bukola Olopade, and other potential yet to be mentioned.

“In conclusion, we enjoin the members of the public to ignore any misleading and misrepresenting reports and any such information that is built on its false premise, including the one published on THIS DAY. The Egba Lokan Agenda 2027 remains resolute and unequivocally committed to supporting and backing Egba indigenes contesting from Egba land to become governor of Ogun State in 2027. We are not against anyone but we are only for Egba people.”

Ogun 2027: Why Egbas should not claim ‘Awalokan’ – Segun Sowunmi

 

A political leader and former spokesperson of Vice President Atiku Abubakar, Chief Segun Sowunmi, has said the people of Egba should not be the ones claiming Awa lokan in 2027.

Sowunmi said this on Monday while addressing newsmen at his Ibara residence in Abeokuta, the Ogun State capital.

The 2023 governorship aspirant said it is irresponsible and annoying for the Egbas or any other race to give the impression that it is superior to others.

“I mean this and I want you to report it, I consider it the most irresponsible and annoying 2027 narrative for any race or any tribe or any section, especially the Egbas, to give the impression that they are a super race within this state. They are not. This state is a state that mostly came about as a result of migration,” he said.

He proceeded that the Egba people are only enjoying the administrative convenience of being made the capital. 

“As much as I am an Egba man, I do not like this idea that the Egbas are approaching 2027 in an unnecessarily entitled manner. I believe that if anybody would be entitled or even be screaming entitlement, it is the prerogative of the Yewa people who have never been governor for almost 50 years.

“We are not under obligation to dash them the governorship. No! We gave them tickets many times, but they didn't make it. Nobody stopped them from voting for their children. But you have to balance society. I am an Egba man. I want to be governor; I definitely want to be governor. I want to even subject them to the ideas of what they want to do in governance. But I don't believe that we will have to convert the Egbas into the Fulani of the Federal Republic of Nigeria because of carelessness in saying Awa lokan, Awa lokan, as if anybody has ever deprived them. 

“Osoba was governor here, the baton passed. Ibikunle Amosun was governor here. The baton is now with Dapo Abiodun. Now we should be talking in a way that accommodates all of Ogun. And if the Yewa people can negotiate, persuade, encourage and demonstrate readiness, why not?” Sowunmi disclosed.

The Peoples Democratic Party chieftain stated that it offends him to his soul some people are using their private ambition to put a target behind the back of the Egbas.

“If you do an internal census to date, anywhere you have put a state capital, they cannot comfortably be sure that the people that are living in that state capital and the voters of that state capital are uniquely their people. Therefore, we will discuss 2027 by the end of 2025, so that the governor can even have a good two years to work. No man will be governing a state and the only thing you'll be hearing is, Egba lokan, Yayi lokan, and you will not be distracting him. Because politicians, being who they are, will start creating unnecessary camps. If you greet Yayi now, you are their enemy. If you shake Dapo Abiodun, you are their enemy. How can we be doing that when the fundamental issues of development requiring attention in the state are there for us to see? So, that is my honest, genuine, absolute, well-considered answer there. 

“Anybody who wants to be governor in Ogun State should please let us give the state one more year. You can be preparing on the inside. After all, you are planning and God is planning and God is the best of planners. But after one year, we would have had two years of correct governance without distraction. Then we can start talking about it.

“A man who does not know whether he will last until next week is acting as if he has already sold the garment to be governor in 2027. Do you know what can happen in the next few minutes? So, if we get to that bridge, we will cross it. But may God let Ogun State win,” he submitted.

Egba Economic Summit Group backs Ijebu State creation

The Egba Economic Summit Group, a body of prominent Egba sons and daughters, has thrown its weight behind the creation of the proposed Ijebu State creation.

Ijebu State, comprising the nine local governments in Ogun East (Ijebu and Remo), would be carved out of the current Ogun State.

On Saturday, the 11th AGM of the summit was held at the Conference Room of Gbenga Adeoye & Co.( Chartered Accountants), in Ibara GRA, Abeokuta.

Presiding over the AGM, the Chairman of the Board, Chief Taiwo Adeoluwa, Agba Akin of Egbaland, admonished members of the EES to continue to relate as siblings.

In his remarks, he noted that once Egbas are united, the issues of the contribution of resources will flow easily and naturally.

Reacting to the creation of Ijebu State that has passed a second reading in the Senate, the Vice President, Dr Gbenga Adeoye, stated that such development underscores the determination of the Remo and Ijebus to have their state.

Adeoye said this is not in any way against the progress of Egbaland and Ogun State as it stands today, saying, however, that it will foster development in both Egba and Ijebu lands.

He stated further that the Erunwon Ajebo Free Trade Zone project should be pursued with all the energy in the Egbas while the University of Medicine and Medical Science should be supported by all means to ensure the smooth take-off in 2025 now that council and principal officers of the university are almost in place.

The President of the Summit, Mr Yinka Chris Coker, stated that the coming year will be approached differently in terms of project implementation, which will now be in accordance with the report of Captain Temi Okesanjo-led project implementation committee.

Similarly, the former Chairman of the Board, Prince Abiodun Karunwi, encouraged members to contribute their resources for the growth of the summit while he frowned at the attitude of those who have resources but fail to pay annual dues.

Former President Chief Tokunbo Odebunmi encouraged members to continue to act as a dragnet to bring new and old members back to the summit with renewed commitment.

Chief Shina Luwoye, who is the immediate past president, joined the AGM virtually and challenged members to be strategic in the development of Egbaland.

Alhaji Egbeyemi, said if anyone is running and unable to catch a snail, then his case needs re-examination and admonished members to increase their speed in terms of personal developmental projects that others could support in the year 2025.

Chief Tunji Sunmonu, who joined virtually, also reminded members that the way to succeed is to go back to the foundation of the summit and ensure that all programmes align the main goals of setting up the summit at a time when Mr Ade Coker was the President.

Engineer Ola Sobande who ,also joined virtually expressed gratitude to the Vice President; Dr.,Gbenga Adeoye for ,making his ffice space available for the summit to use as secretariat and also for the AGM and at t,he same time insi,sted that the council must ensure new members are attracted in the year 2025.

Mr Surakat Lateef who , als joined the AGM virtually aligns with the new project implementation method of 2025.

His position was supported by Chief Taiwo Adeoluwa who stated further that he submitted some names to be admitted and that more efforts should be made to get those parties admitted.

Aerofield MD hails Oladunni's appointment as Wemabod CEO

Armstrong 'Tope Akintunde, the Managing Director/Chief Executive Officer of Aerofield Homes Limited, has congratulated ESV Bashir Oladunni on his appointment as the Managing Director/Chief Executive Officer of Wemabod Limited.

In a congratulatory message, Akintunde described Oladunni's appointment as a well-deserved one.

He expressed confidence that Wemabod would continue to blossom under the watch of the MD.

"We are confident that under your stewardship, Wemabod Limited will continue to scale new heights, delivering innovative solutions and driving growth in the real estate sector," he said.

Akintunde wished Oladunni immense success, impactful leadership, and a rewarding journey ahead as he takes on his new role.

He hailed the appointment of the new Wemabod boss alongside other industry stakeholders, who have praised his wealth of experience and expertise in the real estate sector.

The congratulatory messages are a testament to Oladunni's reputation as a seasoned professional and a leader in the industry.

Wemabod Limited has assured stakeholders that Oladunni's appointment will bring about a new era of innovation and growth for the company.

Egba agenda 2027: Group roots for Adeoye as Abiodun's successor

A socio-political group, Youth Involvement in Good Governance (YIGGOM) on Tuesday said that with the Supreme Court affirming the governorship of Dapo Abiodun of Ogun State till May 2027, the stage is set for the people of Ogun Central Senatorial District to begin to look for a technocrat who could take over from the governor in 2027.

The group in a statement on Tuesday noted that though it was not unaware of the agitation of Ogun West Senatorial District to have a first shot at the governorship seat since the state was created about 48 years ago but this does not mean that the Egba people who are abundantly qualified should not aspire to lead the state again.

In the statement signed by National President of YIGGOM, Olayiwola Ahmed, the group said "we are unapologetically behind Egba Lokan Agenda, meaning that we are supporting and preaching that a thoroughbred, visionary, highly intelligent tecnocrat with passion for good governance and accountability from Ogun Central should take over from Gov Dapo Abiodun after May 29, 2027.

"We are not unaware of the agitation of Ogun West Senatorial District to produce the next governor of the state for the very first time but the governorship seat is not the exclusive preserve of any part of the state and additionally, the Egbas are equally abundantly qualified to seek to succeed Gov Abiodun.

"We have equally heard that some notable Egba indigines like the immediate past Nigerian Ambassador to the United Kingdom, Alhaji Sharafadeen Tunji Ishola,  and host of others are also signifying interest to run the 2027 governorship race.

"However, with the benefit of hindsight, we are of the strong opinion that the next Governor of our dear state should be a thoroughbred technocrat, a full blown professional with cutting edge knowledge to manage, maximise and harness the abundant natural resources in the state.

"It is on this note that we are putting forward Dr Gbenga Adeoye, an accomplished Chartered Accountant, a lawyer, a socio-economic development expert and a humanitarian par excellence. 

"Dr Adeoye is young, dynamic with exemplary leadership qualities and love for good governance and accountability. He is the next biggest fortune that will impact the state for the generation unborn to be proud of. We sincerely trust that his leadership is the much expected game changer in the affairs of Ogun State".

PEPT: Let Ifa Oracle Speak Up In A Language We Understand To Shame The Priests

  

The dilemma before our great nation’s Supreme Court with the US judgement directing the Chicago State University to release all records in its possession to HE Atiku Abubakar under oath can only be likened to a Yoruba age-long story about the Ifa priest and the queen.

The story goes thus: Once lived an aged king who married a young girl in compliance with the traditions of the land. As the years passed, it became apparent that the aged king might not be able to father a child with the young queen without some external “help”. 

Concerned and eager to produce an heir, the young queen secretly approached the Ifa priest for advice and possibly some fertility concoctions. One thing led to another and the Ifa priest ‘helped’ the queen to conceive.

The aged king became suspicious knowing that the pregnancy could not have come from him, summoned his counsel of chiefs, everyone in his kingdom and then the ifa priest to consult the ifa (oracle and god of Justice) to reveal the truth. 

The young queen quickly agreed to swear by the Ifa (oracle) because she knows that the priest is the only person and FINAL voice in the land who “hears, understand and can interpret” the message of the Ifa (oracle). The priest on the other hand, also knows that the punishment for “touching” a queen is death.

Like the counsel of chiefs and people of the kingdom, Nigerians are gathered to hear the message of the ifa (oracle and god of Justice) interpreted by the priest (Supreme Court) with the young queen (APC) standing with her hands on her well-formed stomach. 

The only way justice can be served in this matter is that the Ifa MUST find it’s own voice, master the act of a universal language and address the people “directly” by taking control of the priests body. Only then can justice be served in this rape and abuse of our collective sensibilities by the shameless set of priests at the Presidential Election Petition tribunal on the 6th of September 2023.

Nigerians are waiting eagerly for the SC priests to summon the courage to say EXACTLY what the Ifa says, and NOT what they feel or assume the Ifa (Oracle) means or was planning to say. We hope that the SC priests will not conjure the usual incantations and miracle-induced speaking in tongues like the PEPT priests.

Nigerians are waiting and hoping that the Ifa will find its own voice, take over the body of the SC priests and speak truth to the people of the land. 

Justice is all we seek. 

Long live the Federal Republic of Nigeria. 

Olaolu Fagbemi 

From the UK.

FIRS New Excel Sheet Upload To File VAT Returns Is Counter Productive — By Dr. Gbenga Adeoye

Let me start with three proverbs, if they don't want you in a city, do not raise song. If you do, nobody will join you to sing it.

Tax is not something people enjoy topay especially when they cannot see corresponding benefits; Hence,  making it difficult is like someone not wanted in a city raising songs.(Yoruba Proverb)

The second proverb is that a man they want to roast as suya that rub palm oil on his body and then stand beside fire thereby making the work of those who want to roast him easy.

When people are looking for how to avoid tax, do not compound the problem by making payment difficult for them.

The last proverb is that palm oil and white clothes are not friends.Tax payers and difficult payment systems are not compatible.

1. Any student of Taxation knows that one Major principle of tax administration is that it must be easy to pay.

2. This is hinged on the Canon of Convenience among others by Adam Smith.

3. Recently acceptance certificate for asset worth N500, 000 was discussed extensively and 99% of Nigerians are of the opinion that such policy is outdated because even just one laptop and table is in excess of N500,000 and asking people to go get any acceptance certificate is more or else an attempt to impose unnecessary burden on SME's... Some FIRS Team still ask for this during audit when we all know it is unreasonable. There are other ways to verify asset cost.

4. Let me return to the main subject of the day, March 2023 VAT filing which was meant to be filed on or before April 21 suddenly requires that you upload an excel sheet showing the following :

A. Name of your Customers/ Client.

B. Tax Identification Numbers.

C. Amount of Sales.

D. Code representing Nature of Transaction which is either of the following :

O for Vatable.

1 for Zero Rated.

2 for Exempted.

E. Type of Services

 or product

F. Description of Product or Service.

5. As a matter of fact a video was posted on Tax Pro Max asking that each sheet can take 1000 line items.(Funny Numbers)

6. How do you begin to fill an excel sheet Containing all the above fields with 1000.?

7. You will not actually be able to file if you sell items in pieces such as soft drinks.

8.FIRS claimed that once you indicate the TIN of a tax payer; the respective  VAT against such tax payer will go to the system as input VAT as a second leg.

9.Hence, there is no room for you to post local purchases that will enable you to claim or enjoy input VAT.

10. The question is; does FIRS think all tax payers will file at the same time.?

11. If the person you bought from is yet to file, it means you will have no input VAT. That means you will have to pay double VAT.

12. Most companies CEO's could not sleep from 19th to 21st of April 2023 all over Nigeria because many couldn't file the VAT. Some eventually chose to give up.

13. Another issue about VAT is that FIRS is yet to understand the reality in business and a good example is as follows.

You buy goods for N100,000.

You sell with 2% profit.

Meaning you sell for N102,000.

In any case, because of competition, you cannot sell above N102, 000 and no buyer will listen to your explanation that you actually charged VAT on it and as such price had to be higher than N102, 000.

Meanwhile, Most times when you bought from, there is nothing like input VAT in your favour and as such, FIRS is looking at your sales of N102, 000 and asking you to come and pay VAT of N7,650.(Quite Logical ? Isn't it? But Very unreasonable and against ease of doing business and a show of lack of understanding of industrial practice in such sector)

Once you pay N7,650 as expected, your profit of N2,000 is gone. Then FIRS takes another N5,650 from your trading Capital.

Do you think any businessman is stupid to pay such.?

Assuming you are trading with N100,000 and you pay the N7,650, which is rare, but let us assume you actually pay, if the business maintained the same level of transactions over a period of 18 months, the entire Capital would have been wiped off in the name of VAT without considering overheads.

14. For so many tax payers; nothing was shown as input VAT and yet no room for posting cost which the system uses to calculate input VAT.

15. Many posted their cost to Imported Cost so that their actual VAT can be seen.

16. The Excel sheet introduction is not going to work when it comes to input VAT claim because the entity you bought from may not have filed as at the time you are filing and as such, there should be a space for the posting of local purchases.

17. Over the counter transactions also does not give room for you to start asking for Tax Identification Numbers of customers. Yes it is also there that you can put zero if you don't know the TIN, but the question is why the stress.?

SUGGESTIONS TO FIRS.

1. Allow normal VAT filing to continue as it used to be.

2. You can ask for schedule of sales as mere additional documents with or without TIN and where customer's name is unknown, allow tax payers to insert "VARIOUS" to combine many customers... The truth is that such favours FIRS in that no one will claim such VAT as input anyway.

3. Leave the role of requesting for additional information with various tax offices. They know what to do to validate claims of sales and purchases.

4. Use VAT monitoring and Audit exercise to cross-check records of filings and stop stressing tax payers with unreasonable additional burdens.

Conclusion 

1. The newly introduced system is counter productive and that account for why FIRS had to extend filing till April 30 for March VAT.

2. If step is taken to verify collection for the month of March, it will be below expectation.

3.FIRS and indeed all agencies dealing with the public should engage stakeholders and Professionals before introducing any policy.

4. Please note that many companies have not recovered from the damage done by CBN Naira redesign policy on the Economy and so, introducing this new filing method will amount to adding salt to injury

 5. Such pain is not good at the time of tax payments as it negates Canon of Taxation and contrary to ease of doing business because productive time is wasted on irrelevant and counter productive exercise. 

6. All these circulars going around about seminars on the new policy should be converted to apologies to tax payers as it constitute medicine after death where cart have been put before the horse.

The Author. 

Dr.Gbenga Adeoye is a Lawyer and a Fellow of the Institute of Chartered Accountants of Nigeria.

He is also a Fellow of the Chartered Institute of Taxation of Nigeria 

He is an Arbitrator of the United Kingdom and Nigeria.

He is Passionate about Social Economic Development of Nigeria and Africa.

He is an advocate of Tax Justice and Ease of Doing Business in Nigeria.

He can be reached via dga@gbengaadeoye.com