The Senate o Wednesday, confirmed the appointment of Muhammad Mamman Nami as the Executive Chairman, Federal Inland Revenue Service (FIRS).
Senate President, Dr. Ahmed Lawan hit his gavel at about 2:51 pm today, signalling the confirmation of Nami’s appointment by the Senate. President Mohammadu Buhari sent Nami’s name to the Senate as FIRS Executive Chairman last week.
Senator Olamilekan Solomon Adeola (Lagos West), Chairman of the Finance Committee, laid the report of the Senate Finance committee before the Senate.
The Senate President promised that the Senate will give FIRS all the support it needs to attain its mandate at this time when the nation needs more revenue.
“We will keep the Service on its toes. The Chairman and members should note that a lot of work needs to be done. We will work you and hold quarterly meetings with you January to December towards the realisation of your mandate.
Adeola said when Nami and Board members appeared before the committee they were asked questions about their work experience, academic qualifications and overall knowledge of the FIRS “The nominees responded intelligently to the questions put to them by the Committee members with adequate knowledge of revenue generation and taxation in line with global best practice. They showed enthusiasm and willingness to contribute their quota to the nation’s development.
Adeola said the committee established that the nomination is in line with Section 3 (2) (a) of the Federal Inland Revenue Establishment Act 2007 and that the nominees were cleared by the Police and the State Security Services, (SSS) and possesses the code of Conduct Acknowledgement slip. They have no petitions against them before the committee.
“Going by their cognate working experience and their vision to improve revenue collection for national development, they are suitable, qualified and competent to be appointed as Executive Chairman and Board members of the FIRS.
Apart from Nami, other non-statutory members cleared by the Senate yesterday are: James Yakwen Ayuba (North Central), Ado Danjuma (North West) Adam Baba Mohammed (North East), Ikeme Osakwe (South East) Adewale Ogunyomade (South West), Ahile Adetola Aibangbee (South-South). The 14-member board is composed of a member representing each of the six geographical zones and statutory representatives from a select number of ministries and government agencies.
A well trained Tax, Accounting, and Management practitioner, Nami had practical working experiences spanning three decades (1993-2019) in auditing, tax advisory, management services for various clients in the Banking, Manufacturing, Services and the Public Sector. This covers his professional stint first with the PKF which has presence in over 100 countries where he cut his professional teeth and rose through the ranks to become a Senior Consultant in charge of Tax Management and Advisory Services; then with the KEL Group of Companies, a consortium of three manufacturing companies, as General Manager from 2004 to 2006; and later with the Mainstream Energy Solutions Ltd as a Statutory Board Audit Committee Member from 2014 to date. He had clients in the banking, manufacturing, services and public sectors as well as non- profit organizations.
He is an expert in rendering advisory support services to investors in respect of new business start-ups and management of existing businesses. He has also continuously rendered outsourced services to clients in trading service and manufacturing sectors of the nation’s economy.
Muhammad Nami attended Bayero University Kano and Ahmadu Bello University, Zaria where he obtained a Bachelor’s Degree in Sociology (1991) and a Masters of Business degree (2004) respectively. He is a fellow of Chartered Institute of Taxation of Nigeria, Institute of Debt Recovery Practitioners of Nigeria and Associate Member of Nigerian Institute of Management (Chartered) and Association of National Accountants of Nigeria, Chartered Institute of Taxation of Nigeria; Chartered Institute of Forensic & Investigation Professionals of Nigeria; Institute of Debt Recovery Practitioners of Nigeria and Nigerian Institute of Management (Chartered).
He started his career with PFK in 1993 and rose to the position of a senior Consultant in charge of Tax management and advisory services. He is currently the managing consultant of Manam Professional Services (Chartered Tax Practitioners and Business Advisers) based in Kaduna, Abuja, Niger State.
In 2018, he disengaged from the PKF and established Manam Professional Services which undertakes tax and business advisory. His involvement with the PKF and other firms exposed him to the changing dynamics and complexities of the financial sector. He was an Audit Trainee, Tax Trainee to becoming a Senior Consultant.
The new FIRS Chairman said that recently, the President, His Excellency Mohammadu Buhari, appointed him as a member of the Presidential Committee on Audit of Recovered Assets from 22nd November, 2017 to 11th September, 2018.
When he appeared before the Senate on Tuesday, Nami told Senators that his qualifications has put him “in good stead for my professional practice. With focus on professional demands and requirements.
“As a Fellow and Associate Member of these reputable professional Institutions, I was weaned on the best standards of practice in Accounting, Management, and Tax Administration that anybody can possibly hope for, and therefore I am endowed with the normative professional ethics and rubrics required to drive tax administration in a developing economy like Nigeria
FG to deploy 100 electric buses
President Bola Tinubu has said Nigeria is taking a significant step towards a sustainable and eco-friendly future by introducing a pioneering initiative to deploy a fleet of 100 electric buses.
The President spoke at a high-level meeting with stakeholders and investors on the Nigeria Carbon Market and Electric Buses Rollout Programme on Saturday in Dubai, United Arab Emirates, on the margins of the COP28 climate summit.
President Tinubu explained that the strategic initiative is aimed at significantly reducing Nigeria’s carbon footprint and modernizing the country’s transportation systems as part of a larger effort to position Nigeria and Africa as the pioneering frontier of green manufacturing and industrialization with a focus on natural gas as a transition fuel alongside other renewable energy sources.
To spearhead this transformative plan, the President announced the appointment of the Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji, and the Director-General of the National Council on Climate Change (NCCC), Mr. Dahiru Salisu, to co-chair the Nigeria Carbon Market Activation Plan.
”This initiative stands as a testament to our dedication to environmental stewardship as clearly exemplified through our collaboration with the Africa Carbon Market Initiative. Our visionary plan is a strategic guidepost, directing Nigeria towards becoming an investment-friendly destination for carbon market investments.
”We recognize the imperative of fostering an environment that not only attracts investment but also upholds standardized and sustainable industrial practices. As a manifestation of our forward-thinking approach, we are actively looking to implement robust, enabling policies and frameworks that will serve as the catalyst for the burgeoning growth of the carbon market within our national borders.
”In further driving my commitment, I have recently approved an Inter-governmental Committee on Carbon Markets to be chaired by the Executive Chairman of the Federal Inland Revenue Service and the Director-General of the National Council on Climate Change to drive this visionary plan,” the President stated.
The President assured prospective investors that this initiative transcends being a mere pilot project.
”It is a concrete manifestation of our unwavering dedication to a carbon-neutral future. I assure you; this is only the commencement of our ambitious plans, with many more impactful initiatives on the horizon,” he said.
President Tinubu, while acknowledging the pressing need for a comprehensive global collaboration on climate-related challenges, called on global partners to join hands in accelerating collective efforts towards a net-zero future.
”As we unveil our initiatives, I challenge other nations to emulate our strides in mapping out their sustainable futures with a clear understanding that Africa is a beacon of innovative solutions to climate-related challenges.
”In this pursuit, we acknowledge the pressing need for comprehensive global collaboration, and we reiterate our commitment to being an active participant in international efforts.
”Nigeria’s plans for a greener and cleaner economy can serve as an inspirational narrative for nations worldwide. Our comprehensive approach, rooted in visionary leadership and pragmatic action supported by our technical partners, is poised to become a blueprint for countries aspiring to also develop and catalyze their markets for sustainable growth,” the President concluded.
In his remarks, FIRS Chairman, Mr. Zacch Adedeji acknowledged the visionary leadership of President Tinubu as the guiding force behind Nigeria’s commitment to harnessing its vast carbon potential.
At COP28, Sanwo-Olu seeks funding to address supply of clean water in Lagos
Governor of Lagos Babajide Sanwo-Olu has sought global support for funding in Lagos state to be able to provide clean water.
The Governor speaking at a side meeting with the theme: “Valuing Water: A Lifeline in Climate Transition”, organised by Business and Philanthropy Climate Forum and Sustainable Market Initiative at the ongoing 28th session of Conference of Parties (COP28) at Dubai Exhibition Centre pitched a sustainable funding proposal in order to raise private and philanthropic funding in addressing inadequate water infrastructure and supply shortages in Lagos.
Sanwo-Olu disclosed that Lagos, with 22 million population, has a daily demand of 700 million gallons of portable water, but said the State could hardly supply 210 million gallons per day due to shortage of infrastructure.
The Governor said, although provision of clean water had been generally considered a social service, it was an essential element of economic necessity, given its importance to keeping humans healthy.
Lagos, he said, is challenged by increasing demand for clean water. Sanwo-Olu said the inadequacy of supply infrastructure could raise disease vulnerability in underserved communities, pointing out that the State, despite being surrounded by abundant water bodies, could only manage to utilise 40 per cent of its installed water facilities.
He said: “Lagos has an investment of about $2.8 billion in water infrastructure, but there is a burden on the huge population, as we need to create an ecosystem where we can have access to basic needs in the 21st century. Given our meagre resources, it is really a challenge but we certainly cannot continue to give excuses. This gap is being felt by underserved communities and the risk to the public is high.”
“We have continued to allocate resources to this sector from our budget, but the intervention is hardly enough to serve the needs of the residents. Four years ago, I gave a commitment of $100 million, but this is like a drop, given the number of investments required to fully explore the potential in the sector. We have huge infrastructure that is not being utilised, making us to operate at less than 40 per cent of the installed capacity.”
“Out of the $1.7 trillion needed globally to address the gap in clean water adequacy, Lagos requires less one per cent of the funds to provide safe water. It is my belief that this conversation would lead to sustainable solution that would meet the needs of millions of people that want water adequacy. Our goal is making committed partners believe in economic viability of their investments.”
Sanwo-Olu listed the country’s energy crisis as another factor slowing down the provision of clean water, stressing that irregular power supply rendered resources allocated to the sector inefficient.
The Governor called for equity in global investment towards accelerating water adequacy, noting that humans, regardless of their gender and geographical location, need equal access to clean water.
With 65 per cent of its population made up of young people of under 30, Sanwo-Olu told the funders that Lagos remained an African asset on which viable investments could be made.
The side meeting, which was moderated by the Secretary General of Insurance Development Forum, Ms. Ekhosuehi Iyahen, had seven other panelists, including Chief Executive Officer (CEO) of WaterAid, Tim Wainright, Chief Sustainability Officer of PepsiCo, and CEO of Dalmia Cement in India, Mahendra Singh.
Others are Chief Operating Officer of Water.org, Vedika Bhandarkar, Managing Partner of AquaForAll, Josien Sluijs, Assistant Director General of Food and Agriculture Organisation at UN, Maximo Torero, and former CEO of Mars, Incorporated, Grant Reid.
COP28: Gov Eno joins President Tinubu in Dubai
Akwa Ibom State Governor, His Excellency Pastor Umo Eno, is part of the delegation led by President Bola Ahmed Tinubu GCFR at the ongoing COP28 climate conference in Dubai, United Arab Emirates (UAE).
Delegates from nearly 200 countries, leaders in business and finance, and representatives of civil society are gathering in Dubai from November 30 to December 12 for the COP28 climate conference, aiming to fast-track the transition to a clean-energy future.
COP28 stands for the 28th meeting of the Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC), occurring annually.
Also in the President’s entourage are the Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, President/Chief Executive of Dangote Group, Alhaji Aliko Dangote, Group CEO of NNPCL, Mele Kyari and the newly appointed Permanent Secretary, Federal Ministry of Finance, Mr. Okokon Ekanem Udo, among others.
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