By John Joseph
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The Federal Capital Territory Internal Revenue Service (FCT-IRS) has announced a remarkable achievement, generating a total of N252.83 billion in internally generated revenue in 2024. This impressive feat was made possible through the collective efforts of the service’s staff, management, and support from various government bodies.
Acting Executive Chairman Michael Ango revealed that the amount, collected between January and December 18, represents 101% of the N250.2 billion target for the year. This achievement showcases a 19.8% increase from the N211.1 billion collected in 2023, demonstrating the service’s commitment to excellence.
Ango attributed the success to several factors, including the dedication of the service’s staff and management, as well as the support from the FCT secretariat, departments and agencies, FCT area councils, and other government bodies. He also commended the support of the Senate and House committees on FCT.
Since his appointment in August 2023, Ango has implemented various measures to enhance the service’s capacity. These initiatives include:
Restructuring and Expansion: The review and expansion of the organisation’s structure, leading to the creation of new departments such as Audit, Debt Management, and Enforcement.
New Directorates: The establishment of two new directorates, one focusing on government ministries, departments, and agencies, corporate entities, and international organisations, and the other on individuals, enterprises, and partnerships.
Learning and Development: The creation of a separate Learning and Development Department, which focuses on capacity building and training for employees and other stakeholders.
High Net-Worth Individuals (HNIs) Unit: The establishment of a dedicated unit for the taxation of HNIs in Abuja.
Collaboration with Nigerian Financial Intelligence Unit: Strengthening collaboration to obtain active intelligence on HNIs in Abuja, aiming to improve tax compliance and collection.
These strategic initiatives have positioned the FCT-IRS for continued success in revenue generation, supporting the development of the Federal Capital Territory.
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