Fubara, Daniel, Bode George, Olubolade, Gani Adams, others for  Freedom Online’s 6th Yearly  Lecture Thursday

AJAGBE ADEYEMI TESLIM

Governor Siminalayi Fubara of Rivers State will, on Thursday, deliver the 6th yearly lecture of Freedom Online newspaper in Lagos August24news.com has learnt.

A statement by the Managing Director/Editor-in-Chief of the online newspaper, Gabriel Akinadewo, says while Fubara is the Special Guest Speaker, former Governor of Ogun State and Chairman, Senate Committee on Navy, Otunba Gbenga Daniel, is the Keynote Speaker of the lecture with the theme: ‘Nigeria’s Socio-Political Challenges: Whose Fault, Leaders or the Led?’

The Chairman of the event is former Deputy National Chairman of the Peoples Democratic Party  (PDP), Chief Olabode George.

Other personalities billed to grace the  lecture are former Police Affairs Minister,  retired Navy Captain Caleb Olubolade (Special Guest of Honour); Aare Onakakanfo of Yorubaland, Iba Gani Adams and former Director-General of the Nigerian Maritime Administration and Safety Agency, Dr. Dakuku Peterside (Guests of Honour) and Professor Akin Onigbinde, the Executive Secretary, Centre for Policy and Development Studies, Ilepa, Ogun State (Special Guest).

President, Nigerian Guild of Editors, Eze Anaba, and President, Guild of Corporate Online Publishers, Maureen Chigbo, are Chief Hosts.

Freedom Online is an online news platform published by SWAAYA Limited, Lagos.

Lagos Lawmakers Commend LIRS on Historic N1 Trillion Revenue Milestone

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Legislators in Lagos State have commended the Lagos State Internal Revenue Service (LIRS) for achieving an unprecedented milestone in revenue generation, surpassing ₦1 trillion.

This landmark accomplishment positions LIRS as the first sub-national revenue agency in Nigeria to attain such a feat, reflecting its professionalism, efficiency, and commitment to transparent tax administration.

Former Chairman of the House Committee on Economic Planning and Budgeting, Hon. Lukman Sa’ad Olumoh, alongside Hon. Femi Saheed, former Chairman of the House Committee on Finance, lauded LIRS and its Executive Chairman, Mr. Ayodele Subair, for their exemplary leadership and dedication to enhancing the state’s revenue performance.

In a recent interview, Hon. Lukman Sa’ad Olumoh described the achievement as a testament to the dedication and expertise of the LIRS team.

He emphasized that Lagos State has set a benchmark in revenue collection, serving as a model for other states to emulate.

Representing the Ajeromi-Ifelodun Constituency 01 in the Lagos State House of Assembly, he praised Mr. Subair for fostering a culture of efficiency and innovation within the agency, which has significantly contributed to its success.

Speaking during the 2024 budget signing ceremony, Hon. Lukman Sa’ad Olumoh conveyed to Governor Babajide Sanwo-Olu that Lagos State has reached an exceptional level in revenue generation.

He acknowledged LIRS’s historic achievement of surpassing the N1 trillion mark and expressed confidence in the agency’s ability to exceed future targets.

He further urged the state government to sustain its support for LIRS, emphasizing that continued improvements in revenue collection could reduce reliance on external borrowing. “You cannot expect remarkable results without placing the right people in key positions.

LIRS is managed by a team of highly skilled professionals. While it operates as a government agency, its structure and operations reflect global best practices.

The agency has evolved into a world-class institution, moving from Good Shepherd’s House to the state-of-the-art Revenue House.

A visit to its facilities will reveal an environment that fosters excellence. Under the leadership of Mr. Ayodele Subair, a visionary and dedicated professional, LIRS has achieved remarkable success.

The agency’s work culture and improved operational environment have been instrumental in reaching this milestone,” Hon. Lukman Sa’ad Olumoh stated.

Looking ahead, Hon. Lukman Sa’ad Olumoh noted that based on LIRS’s consistent performance, the revenue target for 2025 has been set at N1.4 trillion. He assured that as Lagos’s economy continues to expand and more employment opportunities are created, this growth in revenue collection would not impose additional burdens on residents but rather result from enhanced tax compliance and structured reforms. “LIRS has demonstrated steady growth over the past five years.

We have set a revenue target of N1.4 trillion for 2025, and I am confident that the agency can surpass this goal.

Lagos State has the capacity to generate over N4 trillion in internal revenue without negatively impacting its residents,” he added. He also highlighted the role of upcoming tax reforms at the federal level, noting that the Joint Tax Board (JTB) would ensure a well-structured tax administration system.

He reassured the public that no adverse fiscal policies would be introduced, emphasizing that the focus remains on improving compliance and fostering a positive tax culture. In a formal congratulatory letter addressed to Mr. Subair, Hon. Femi Saheed, who represents Kosofe II Constituency, commended the LIRS team for their dedication, resilience, and strategic approach to revenue collection.

He reiterated the Lagos State House of Assembly’s commitment to providing the necessary legislative support to enable the agency to achieve even greater success. “I extend my heartfelt congratulations to you and your forward-thinking management team for surpassing the N1 trillion revenue mark in 2024. My colleagues and I commend your resilience, transparency, and commitment to excellence.

Your achievements bring immense pride to Lagos State, and I am confident that 2025 will be even more rewarding.

As a key revenue agency, we remain dedicated to supporting your efforts in achieving greater milestones,” the letter stated. With this historic achievement, LIRS continues to reinforce its position as a leader in revenue generation, setting new standards for tax administration in Nigeria.

EFCC, NDIC to Deepen Collaboration on Financial Crimes in Banking Sector

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The Economic and Financial Crimes Commission (EFCC) and the Nigeria Deposit Insurance Corporation (NDIC) have reaffirmed their commitment to strengthening collaboration in safeguarding Nigeria’s financial system.

This commitment was a key highlight of discussions during a courtesy visit by the Zonal Director of the Ilorin Zonal Directorate of the EFCC, Harry Erin, fsi, to the Zonal Controller of the NDIC’s Ilorin Office, Hamza Umar Kangiwa, on Tuesday, February 18, 2025, at the NDIC’s office in GRA, Ilorin.

During the meeting, Harry emphasized the importance of enhanced cooperation between the two agencies, stating, “Strengthening collaboration between these government agencies is essential for enhancing financial integrity and minimizing systemic risks.”

He further explained that while the EFCC is responsible for investigating and prosecuting financial crimes, the NDIC provides deposit insurance and ensures the stability of the banking sector.

According to him, maintaining mutual understanding and a cordial relationship between the two agencies is crucial in achieving success in the fight against corruption.

The Zonal Director highlighted that financial institutions, including microfinance banks, often commit infractions that not only warrant administrative sanctions but also necessitate criminal prosecution.

“We urge you to report to us whenever, in the course of your duties, you uncover individuals or financial institutions engaged in crimes that fall within our mandate,” he stated.

He underscored the devastating impact of financial crimes on individuals, citing instances where financial losses have led to suicides and severe economic distress.

“Many people have lost their lives, and others have taken extreme measures due to these infractions. When an individual loses their entire savings, financial stability becomes nearly impossible. This is why our role as a regulatory and enforcement body is critical—to apprehend financial crime perpetrators, stabilize the economy, and restore public confidence in the financial system,” he added.

Speaking on the EFCC’s mandate, Harry reiterated that the Commission is an agency of government empowered to fight corruption, with its board comprising key stakeholders from various government institutions.

He commended the NDIC for its role in maintaining financial stability and safeguarding the Nigerian economy. “We recognize the critical work you do, and your efforts in regulating financial institutions speak volumes,” Harry remarked.

In response, the Zonal Controller of the NDIC’s Ilorin office, Hamza Umar Kangiwa, who previously served at the EFCC on secondment, lauded the Commission’s relentless anti-corruption initiatives. He pledged to foster collaboration and share insights with the EFCC to ensure the success of the anti-graft campaign.

“Fighting financial crimes is a collective responsibility, and we are committed to working closely with the EFCC to achieve this objective,” he affirmed.