The Nation Newspaper

Tag: Transparency

  • E-Taxpay Payment … Promoting transparency in Tax Payment System

    E-Taxpay Payment … Promoting transparency in Tax Payment System

    Electronic-Taxpay is an online self-service tax payment system which gives taxpayers the opportunity to pay their taxes through their banks’ online payment portals. It is an initiative of FIRS in collaboration with Nigerian Interbank Settlement System (NIBSS). It is meant to facilitate payments of taxes from the comfort of taxpayers’ offices or homes. Taxpayers can pay using the electronic channels provided by their banks such as the banks’ internet banking platform, branches and mobile banking platforms.

     

    Conditions to be met by taxpayer before using e-Taxpay platform

    • Register and obtain your Taxpayer Identification Number (TIN)

    • Have an account with any bank of your choice and subscribe to the internet banking function of your bank.

    • Have ufficient funds in the account to cover the tax liability/transaction.

     

    Steps to take to make payment through e-Taxpay platform

    Having registered and received a TIN, an active internet banking account and sufficient funds, then;

    • Decide the channel to use;

    • If you decide on internet banking channel, log on to your bank’s internet banking platform e.g. GTBank Online Banking, FirstOnline, etc;

    • In the case of GTBank Online Banking, select the “Payment” option in the menu;

    • Then select “NIBSS E-Bills payments” under the “Payment” option;

    • Select the account to debit from, to continue;

    • Once inside the NIBSS E-Bills payments, select “New Request” to start a new payment. This will take you to the NIBSS platform;

    • Then select “FIRS e-Taxpay” from the displayed list services that the NIBSS platform provides, in order to start the tax payment in particular;

    • You then enter your TIN (FIRS/JTB-TIN) or the TIN of the taxpayer you want to pay for;

    • Click “verify” to validate that the TIN belongs to the taxpayer making the payment;

    • A pop-up will appear with the TIN details. If ok, then go to the next stage;

    • Select the tax type (e.g. Company Income Tax, Pre-Operation Levy, Value Added Tax, etc.);

    • Enter the amount to be debited (tax sum being paid);

    • Accept service charge for the bank (if applicable);

    • Confirm that all the information provided are correct and valid;

    • Submit the request.

    After a successful transaction, the system will generate an ‘e-acknowledgement’ which can be printed online, or sent to a specified e-mail address. The ‘e-acknowledgement’ is a confirmation of the transaction of payment of tax to FIRS which would be presented to FIRS field office for the issuance of statutory FIRS receipt to the taxpayer. A TAXPAYER SHOULD PLEASE ENSURE THE ‘e-acknowledgement’ IS SUBMITTED TO THE TAX OFFICE OF DOMICILE TO GET A GOVERNMENT TAX RECEIPT FOR THE PAYMENT MADE.

    Real time notifications: The platform also notifies the taxpayer and FIRS through SMS alert and real time email. FIRS can view payment transactions and reports online, in real time.

     

    Tax types that can be paid using the e-Taxpay channel:

    e-Taxpay can be used to pay all tax types and levies collected by FIRS. They include:

    • Petroleum Profit Tax (PPT)

    • Education Tax (ET)

    • Companies Income Tax (CIT)

    •Value Added Tax (VAT)

    • Personal Income Tax (PAYE for residents of FCT and non-Residents)

    • Withholding Tax (WHT). This requires a schedule to be uploaded on the platform;

    • National Information Technology Development Fund Levy (NITDEF)

    • Capital Gains Tax (CGT)

    • Pre-Operation Levy (POL)

    • Stamp Duties (SD) and late filing penalty.

     

    Documentation required when the taxpayer wants to pay tax:

    • Compute tax payable

    • Fill the relevant self-assessment forms

    • Prepare the relevant schedules

    • Make the payment (CIT/PAYE/WHT/VAT)..

     

    Benefits of using e-Taxpay

    • Promotes transparency in tax payment system;

    • Boosts taxpayer confidence and trust in the tax system;

    • Promotes voluntary compliance by taxpayers;

    • Convenience, time and cost saving for the taxpayers as they can do it themselves within the confine of their offices without going to the banking hall.

    • The platform is safe and secure.

     

    Security of the e-Taxpay Platform

    The e-Taxpay service is safe and secure. The e-Taxpay platform leverages on the security measures provided by the service channels of the banks in addition to that of NIBSS and FIRS.

    After a successful transaction, the system will generate an ‘e-acknowledgement’ which can be printed online, or sent to a specified e-mail address. The ‘e-acknowledgement’ is a confirmation of the transaction of payment of tax to FIRS which would be presented to FIRS field office for the issuance of statutory FIRS receipt to the taxpayer

     

  • NUBIFIE to govt: emphasise transparency

    The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) has urged the three tiers of governments on transparency and prudence in the New Year.

    General Secretary of the Union, Mallam Muhammed Sheikh, said in Lagos that only transparency and prudence in governance would make the common man enjoy the dividends of democracy.

    He urged governments at all levels to intensify efforts at reducing the plight of Nigerians by sacrificing some of the luxury of political office holders. “Oil still remains the main source of the nation’s economy, there should be transparency and prudency in the way funds are allocated and spent. I think the state and Federal Government should come up with measures to ensure transparency and prudence in oil proceeds,” he said.

    According to him, many Nigerians are still poor, struggling to make ends meet. Government should show commitment at reducing poverty in the land. He said efforts should be intensified to bridge the gap between the rich and the poor by creating wealth. He said the country has all the resources at its disposal to better the lots of its teeming population.

    Sheikh added that the government’s attention should be on how to block all revenue leakages in the sector. The NUBIFIE scribe said more jobs should be created to engage millions of Nigerian youths roaming the streets without job. Besides, he urged government to work hard at making its stewards more accountable.

  • ‘Accountability, transparency vital in govt’

    An economist and finance analyst, Dr. Alaba Olusemore, has said to mitigate the likely socio-economic and political consequences of the slide in the price of crude oil and the devaluation of the naira, there is need for accountability and transparency in government finances.

    According to Dr. Olusemore, who is also Managing Consultant, Nesbet Consulting, a Lagos-based firm of management and finance consultancy, a devalued naira means high cost of doing business, which invariably will lead to high prices of consumer goods. This, he said, will fuel higher rates of inflation.

    He said those to be worst hit by the policy are consumers on fixed income who will be left with lower disposable income thus, becoming poorer in relative terms. He also said many manufacturers may not be able to finance their import bills, adding that those who will do will likely have shrinking profit margins. Small and Medium Enterprises (SMEs) he said, will suffer more.

    Olusemore argued that with devaluation, cost of importation of petroleum products will go up further and chances are that government may remove the subsidy after the general elections next year. “The consequences of removing subsidy would be social, political and economic,” he warned.

    He pointed out that beyond the number of austerity measures announced by the government to mitigate the impacts of the fall in oil price and keep the economy running, there is urgent need to begin to diversify the economy. “Let’s go beyond sweet talk and truly begin to base our expenditure pattern and tastes on income from non-oil revenue,” he recommended.

    Olusemore also said there is need to fix the local refineries or give people the opportunity to establish refineries. He asked rhetorically: “Why should Nigerians go to other countries to establish refineries?”

  • ‘Improve public disclosures for transparency’

    ‘Improve public disclosures for transparency’

    A financial consultant, Mr  Victor   Odiase has   called  on public  quoted companies’ audit committees to improve public disclosures to increase  investors’ confidence.

    Addressing the forum of  firms on joint  audit held in Lagos and organised by the Institute of Chartered Accountants of Nigeria (ICAN), Odiase, who is the Chief Consultant, Andrew Russell Consulting Country Office, said  audit committees’  transparency is one way of increasing investor confidence.

    As the scope of audit committees’ responsibilities has grown, he  said, so have regulators’ and investors’ interest in the way in which they are carried out.

    He  called  for  separation between the  management  and  the audit committee, adding  that it helps to  strengthen  the  independence  expected  from  the  two  organs.

    The President, ICAN, Mr  Chidi Ajaegbu called  for   improved auditing practice to advance corporate governance and deter  fraud.

    Ajaegbu noted that  improving  audit  practice  will  help    reduce the vulnerability of the  economy to financial crises, and providing incentives for investors to invest and perform efficiently in a socially responsible manner.

    According to him, sound audit practices inspire investors’ confidence, spur  domestic investment, and improve corporate competitiveness.

    Ajaegbu said  the    quality of  financial  reporting   was  of  serious concern for investors and other capital market stakeholders  and  as  such,  practitioners  must  be  committed to enhancing investors’ confidence and public trust in the capital markets.

     

  • My govt will be transparent, says Ngige

    My govt will be transparent, says Ngige

    All Progressives Congress (APC) governorship candidate in Anambra State, Senator Chris Ngige, has promised to ensure transparency and accountability, if voted into office on November 16.

    He also promised to fight the infrastructure battle in the state. The flag bearer said the local governments will become huge construction sites, astressing that more roads will be constyructed at the grassroots.

    Addresing supporters at his campaign office in Awka, the state capital, Ngige said that he will not disappoint the people, if given the mandate to rule.

    He said: “Our party has a rich antecedent. The works of our governors are visible. I have been the governor of the state before and I did not disappoint the people. This time again, I will not disappoint the good people of Amanbra State”.

    The politician is expected to formally flag-off his campaign on Saturday. The campaign director, George Moghalu, said that APC will run a scientific campaign and attract votes from the nooks and crannies of the state.

    Ngige stands tall among the various candidates competing for the State House. Apart from serving as the governor of the state for about two and half years, he is also a senator representing the Central District. The communities that savoured his developmental projects when he was the governor are rooting for him. The APC flagbearer has been endorsed by many groups, associations and societies on merit.

    APC has also put its house in order, ahead of the poll, more than other parties. It is not certain that the Peoples Democratic Party (PDP) has settled the crisis generated by its choice of candidate. Also, the ruling All Progressives Grand Alliance (APGA) is still battling with leadership crises.

    Moghalu said that Ngige is the best among a the candidates, pointing out that, having been tested, he can be trusted by the people.

    Exhuding confidence, the flagbearer told th crowd of suppporters that he will not betray them. he has not betrayed or failed them in the past.

    He, however, assured all that he will continue to spend his time, money and energy to provide the basic amenities that will make the change they desire come to fruition, even as he disclosed that he is regarded as the truly-trusted and tested choice of the Anambra people because he has not disappointed them at any point of his career, political or otherwise.

    On the double candidacy of the opposition, he said the Independent National Electoral Commission (INEC) promised to stop one of the candidates, positing that his party, All Progressive Congress (APC) will take up the issue if INEC does not live up to its assurance.

  • Lagos deputy governor urges transparency

    Lagos deputy governor urges transparency

    Lagos State Deputy Governor Adejoke Adefulire has called on public office holders and career civil servants to prioritise public accountability and efficient service delivery to enable people enjoy good governance, economic prosperity and peace in the society.

    Adefulire spoke at the special service for senior civil servants and public office holders organised by the Redeemed Christian Church of God (RCCG), National Headquarters, Ebute Meta. She said there was the need for public office holders to solve various problems through the implementation of people oriented programmes that can address unemployment, education, housing , security, urban and infrastructure renewal.

    The deputy governor said that, since election and appointment into political offices are based on public trust and confidence, it is important that those holding such positions should fear God and implement programmes and policies that can better the lots of people.

    ‘’People holding public offices should be accountable to the people and give priority attention to programmes that can alleviate poverty, reduce hunger, promote equity and love among the citizenry.’ she said.

    While thanking the RCCG for reawakening the consciousness of public office holders through the programme, Orelope explained that sustainable development can only be achieved when leaders allow the fear of God to guide them and treat people with equality, while implementing government policies and programmes in the best way that can have positive impact on the people. She called on men of God not to relent in their prayer for peaceful co-existence in the country.

    The deputy governor, who was optimistic that the country will still regain its leadership position in the continent, charged all the stakeholders to work together and fashion out how sustainable development would be achieved. She equally wantappropriate solutions to be profered to the problem of insecurity that is threatening the peaceful co existence among ethnic groups in the country.

    Earlier, in his sermon, the General Overseer of the church, Pastor Enoch Adeboye, urged politicians and political office holders to use their positions to serve humanity and God, warning that every soul and leader would give account of how he spent his life and position. Quoting from the book of Jeremiah, he said: “God is watching you when you are serving government”.

    He also admonished leaders to exercise restraint in their pursuit of power and position, adding that any position that is not of God would claim the occupier at the prime of his service adding””when you are serving God, God is watching but if you serve him dilligently you have your great reward.”

     

  • A note from Plato’s idea

    A note from Plato’s idea

    The conception that it is only the government that can bring change to the people is widely accepted. Although this is true to some extent as the aim of the government is to cater for the people, when such government does not meet up with the needs of the citizens, what happens?

    Plato, perhaps the greatest Greek philosopher of all times, in his book The Republic developed the idea that the strength and success of the state is directly tied to the values of citizens living in it.

    Giving this Plato’s postulation an insightful thought, the first thing that comes to a sound mind is: what are these values that individuals must imbibe to maintain and attain a dreamed society and how can they affect the society in a way that will engender development? These values are basically three.

    The three important values a Platonic ideal state must possess, as the philosopher listed them, are courage, wisdom and justice. Wisdom is a value that requires people to act for the interest of all groups and all parties. Justice means that people must do jobs according to what their skills and natural talents can do, while courage is the strength to defend and uphold one’s belief of what is just and right in the face of criticism and rejection.

    In modern interpretation, these values are seen in the virtues of integrity, reliability and being honest and straightforward. Also, they are reflected in transparency, diligence, trustworthiness and self-discipline. It means to be positive-minded and saying yes to patriotism, accomplishment, prosperity and honour.

    It means having a sense of morality, a sense of general consideration, a sense of responsibility and loyalty.

    When we possess these values, true virtues, we rid ourselves of nuisances such as bribery, corruption, poverty, bad leadership, crime, etc. The ills will also gradually reduce to an insignificant level or if not outright eradication in all aspect of our national life.

    The government and individuals should realise that, change begins from within before manifesting without. Plato went further to say that legislations and policies cannot to solve problems faced by the state if fundamental values are not perfected in individuals, which make up a state.

    He realised the importance citizens in a given state. Government should know this fact too if only it would take time to think about how to engage the citizens in a positive end rather than using divide-and-rule tactics to govern and turn people’s back against one another. Individuals and not laws create the state.

    Problem begins to solve when people discover how to solve it. How then can we progressively impact these values into our body politic? According to Plato, the best way to instill these virtues into the citizens is through education.

    When we create a reward system that recognises these values, we will encourage people into accepting these virtues. If we introduce an educational system that emphasises on good ethics and teaches the children at early age, the period they can be molded, the society would change for the better.

    We must engender a system that abhours social vices and punishes anyone found engaging in act that can destabilise the society. These and other techniques will bring the values needed for a better society.

    We all want change but the government cannot do it all alone. It is up to us, the people, to make our country better. If the change must begin, it must begin from within each and every one of us.

     

    Feyisara, 300-Level Physics and Electronics, AAUA

  • Improving transparency in public construction

    SIR: At the third Building and Construction Round Table (BCERT3), a two-day workshop organized by the Quantity Surveyors Registration Board of Nigeria (QSRBON), with the theme “Enforcing Transparency and Accountability in the Nigerian Building and Construction Sector”, held at Musa Shehu Yar’ Adua Centre, Abuja, from May 23-24, the issue of transparency and accountability in the construction industry were discussed.

    The workshop held that lack of accountability is the major challenge to construction sector in Nigeria, which can only contribute a paltry 2.0% to the Gross Domestic Product (GDP) in 2012. The communiqué said that Quantity Surveyors are construction cost consultants from the beginning of a project to the end and implored them to always live above board.

    Quantity Surveyors are not only the factors affecting transparency and accountability in Nigeria’s construction industry. Our culture is a big challenge. When a contractor wins a construction contract, his colleagues and associates, family members and friends see it as manna from heaven, celebrate with him and urge him to see it as “once-in-a-lifetime” opportunity and a share of the national cake.

    The anti-graft institutions like Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices Commission (ICPC) were established to ensure there is zero tolerance to corruption in all sectors of the economy. The Bureau of Public Procurement (BPP) was also established to instil sanity into public procurement and backed by Public Procurement Act 2007.

    But these institutions have not lived up to expectation because of their challenges major of which is the lack of federal government interest to eradicate corruption in Nigeria. If government is interested in forestalling corruption, at least in the construction industry, it will subscribe to the membership of Construction Sector Transparency Initiative (CoST).

    CoST is a country-centred multi-stakeholder initiative designed to promote transparency and accountability in publicly financed construction across the globe. It has as members, countries like El Salvador, Ethiopia, Guatemala, Malawi, Philippines, Tanzania, United Kingdom, Vietnam and Zambia.

    At CoST’s core is the belief that the processes involved in the construction of public infrastructure must be made more transparent. The public must be armed with the information they need to hold decision makers to account and to ensure better value for money in the construction sector. CoST is making this ideal a reality.

    CoST is a governance initiative that employs a multi-stakeholder approach. It involves government procuring entities and oversight agencies, private sector consultants and contractors, and civil society groups working together to improve transparency. It is a catalyst to driving change. It encourages demand and pressure for transparency by bringing together interested stakeholders from the public, private, and civil society sectors. CoST seeks to complement rather than replace a country’s supervision, audit, regulatory, investigative, and judicial functions. The complexity of the construction sector presents a major challenge to improving transparency. Nigeria’s construction industry will benefit if Nigeria can subscribe to its membership.

    • Olufemi Oyedele,

    Lagos

  • Fayemi: transparency attracts partners

    Ekiti State Governor Kayode Fayemi has said the state would attract more support from development partners if the level of transparency and public accountability is maintained.

    He spoke at a workshop organised by the Office of the Accountant-General in collaboration with Ernest and Young Accounting Firm as well as the Chartered Institute of Public Finance and Accounting.

    Fayemi said his administration would institutionalise transparency and accountability.

    Speaking through the Permanent Secretary in the Ministry of Finance, Mr. Philip Amujo, the governor said his administration’s eight-point agenda was designed to achieve good governance and improve the life of the people.

    Fayemi said public record is available to the public on demand, adding that the state was the first to domesticate the Freedom of Information (FoI) law.

    He praised the directive of the Accountant-General and the Auditor-General of the Federation that public institutions should adopt the International Public Sector Accounting Standards (IPSAS) to ensure a uniform accounting system in the three tiers of government and the private sector.

    Ekiti State Accountant-General Ayoola Owolabi said implementing IPSAS would engender the adoption of accrual basis accounting, transparency, reliability, uniformity, accountability and integrity of financial reporting.

    He said the Financial Reporting Council (FRC) Act, 2012, was enacted to develop unified global accounting standards and domesticate international best practices.

    Owolabi urged accountants, auditors and budget and planning officers in the public service to be abreast of the new development in order to function effectively.

    The Regional Managing Partner of Ernest and Young, West Africa, Mr. Henry, said his company was encouraged to support Ekiti due to the performance of the Fayemi administration.

     

  • A call for transparency

    A call for transparency

    • Full disclosure needed on award of contract to rehabilitate the Lagos-Ibadan Expressway

    when, on November 19, 2012 the Federal Government revoked its contract of reconstructing the dilapidated Lagos-Ibadan Expressway with Bi-Courtney Highways Services Limited , many Nigerians heaved a sigh of relief. The government said it was compelled to take the step because the concessionaire had serially breached terms of the contract and failed to perform. Carnage on the old highway was another reason given for terminating the agreement.

    Minister of Works, Mr. Mike Onolememen, who announced the government’s decision, also explained that two construction giants, Julius Berger and RCC, had been picked for the task of immediately rehabilitating the ever-busy road. Two weeks later, the minister was on hand again to announce that the two companies had been given a deadline of eight weeks to make the road motorable and stop avoidable deaths caused by the bad portions.

    It has since been observed that the companies have been at work. It is however disturbing that the government has failed to be transparent in awarding the contract. Nigerians deserve to know what the rehabilitation is costing taxpayers. It is unacceptable that provisions of the law would be wilfully breached by elected officials of state. The Public Procurement Act is clear on the procedure for award of major contracts.

    At the time of award of the concession of the road to Bi-Courtney in May 2009, the public was told that it would cost the concessionaire N89 billion to meet the specifications. Now that emergency work has been commissioned, we deserve to know the terms – the cost, scope and the fine details. The point must be made that, even for good causes, public fund must be judiciously expended.

    It is even more intriguing that the plan to build up the capacity of the road to carry the heavy traffic it bears has been broken into two. The first phase, expected to be concluded by the end of this month, is just for rehabilitation. Thereafter, the minister has disclosed that the more desired expansion of scope and modernisation would be contracted.

    Why didn’t the Federal Government go the whole hog at once? After terminating the contract with Bi-Courtney, the process of ensuring that road users do not have to wait unduly ought to have been activated at once by getting the project advertised, bids invited and the contract awarded in record time without infringing on the law. The contractors could then have been mandated to ensure a rehabilitation to proceed with reconstruction and remodelling.

    The government owes the people a duty to explain what it plans to do with the road now. Would it be handed another concessionaire on similar terms? Would it be a regular contract to be financed and funded by the Federal Government? How many lanes shall we expect on each side as well as other amenities like rest areas, etc. These are simple decisions that should be made by the Federal Executive Council (FEC) and pushed to the public for input.

    If it must be concessioned, the pitfalls that dogged the relationship with Bi-Courtney must be avoided this time. A scrutiny must be carried out to ensure that only firms with requisite experience, interest and financial muscle are brought on board.

    Besides, despite the road being federal, it is important to carry along states that are direct stakeholders, that is Lagos, Ogun and Oyo whose people live along the corridor. The point was made early enough by the governors of the Southwest who even opted to take over the task to ease the burden of traffic snarl and the impediment it had constituted for integration.

    It is repugnant that the Federal Government is already talking about tolling the road after rehabilitation this month. This does not only constitute policy inconsistency, but amounts as well to exploitation. We see no justification for the return of toll gates that were dismantled at a hefty cost under the Obasanjo administration when reconstruction work is yet to commence.

    While the road that links Lagos, the commercial nerve centre of the country, to the West, East and North deserves expeditious attention, the law must be respected and it must be awarded at the most competitive price and to those with the capacity to do a thorough job.