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United Nations ECOSOC: Nigeria renews call for fair international tax practices

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Nigeria has, again called on the United Nations and the International Tax Community to forge an inclusive, equitable, fair and universally beneficial international tax system towards the attainment of the 2030 Sustainable Development Goals (SDGs).

Making the call on behalf of the country, Mr. Muhammad Nami, the Executive Chairman of the Federal Inland Revenue Service (FIRS) stated this while delivering Nigeria’s Statement at the Economic and Social Council (ECOSOC) Special Meeting on International Cooperation in Tax Matters, held on Friday, at the ECOSOC Chamber, United Nations Headquarters, New York.

Mr. Nami noted that the Nigerian delegation is concerned about the global minimum tax as put forward by the OECD – Inclusive Framework, because of its low rate and the way it was negotiated to benefit the home countries of multinationals.

“My delegation is concerned about the global minimum tax,” Mr. Nami noted, “because of its low rate and the way it was negotiated to benefit the home countries of multinationals, which are mostly in developed countries.”

Speaking further, the head of Nigeria’s apex tax authority urged the meeting to discuss how “a UN instrument on tax cooperation can both build on work that has already been done in a way that guarantees fairness and equity.”

He also said that Nigeria looks forward to views on “enforcement mechanisms for a binding multilateral tax convention, noting the challenges that developing and developed countries have experienced with investment treaty arbitration.”

Mr. Muhammad Nami, in the country’s statement pointed out that the capacity of countries to attain the 2030 Sustainable Development Goals were hinged on having the requisite funding “in delivering critical public services” towards these SDGs.

Nigeria, while calling for a global taxation regime under the United Nations, harped on the importance of enhancing domestic resource mobilisation among member States to address their economic challenges.

“The promotion of inclusive International Tax Cooperation remains a critical subject in the attainment of the 2030 Sustainable Development Goals (SDGs).

“Today a global taxation regime under the UN is urgently needed to enable States effectively mobilise domestic revenues to address the multiple economic and other crises impacting our efforts in the achievement of the 2030 SDGs.

“Domestic public resource mobilisation is critical to this effort because of its vital role in delivering critical public services and advancing even progress towards the sustainable development agenda.

“Developing countries are taking seriously the challenge of financing sustainable development. My delegation underscores the importance of enhancing domestic resource mobilisation, good governance and investment in our common African goal embodied in the Agenda 2063, and in the global goals spelled out in the 2030 Agenda,” Mr. Nami stated.

He further commended African countries for strengthening their participation in international tax cooperation efforts, as well as the strides they have made “in closing loopholes and countering base erosion and profit shifting.”

He however expressed concerns that “while much good work has been done, much more remains to be made towards a fully inclusive process, both domestically and internationally and ensuring that all taxpayers are making their fair contributions.”

The United Nations Economic and Social Council (UN ECOSOC) Special Meeting on International Cooperation in Tax Matters is an annual meeting of ECOSOC members, senior representatives of national tax authorities, relevant international organisations, civil society and academia that discusses issues of taxation as it affects the globe. Members, during this meeting, deliver action-oriented exchanges and design best-practices on international tax issues.

This year’s meeting provided a forum for member states, members of the UN Tax Committee, international organizations and other stakeholders to discuss the promotion of inclusive and effective international tax cooperation at the United Nations.

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EPL: David Raya reacts to mistake in Arsenal’s 3-2 win over Spurs

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Arsenal goalkeeper David Raya has said that he is open to learning new things through his own mistakes.

Some of such mistakes were prevalent during Arsenal’s 3-2 win against Tottenham in the Premier League on Sunday.

Arsenal were 3-0 up in the first half through Pierre-Emile Hojbjerg’s own-goal and strikes from Bukayo Saka and Kai Havertz.

However, Tottenham came back from the break stronger and were handed a way back in the 64th minute when Raya’s attempted lob ended up at the feet of Cristian Romero at the edge of the box.

The Argentine finished off the chance to make it 3-1.Son Heung-min then scored from the penalty spot with three minutes to go in regulation following a foul by Declan Rice on Ben Davies.

However, Mikel Arteta’s side somehow fended their north London rivals off for the remainder of the contest.

Raya told Sky Sports,
“I’ve learnt from making mistakes. If you don’t make mistakes, you don’t learn. It’s a part of football, everybody makes mistakes.

“But the thing [is] when a keeper makes a mistake, it’s a goal, it’s more seen, more talked [about], compared to a striker missing a tap-in or whatever.

“But it’s just part of football and you learn from that. That’s the most important thing – you learn from the mistakes.”

 

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Court fixes May 15 for EFCC to arraign Emefiele on fresh charge

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The Economic and financial Crimes Commission (EFCC) will on May 15 arraign the suspended Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele in a Federal Capital Territory court on three counts amended charge.

In the fresh charge filed against him, the EFCC alleged that Emefiele disobeyed the direction of law with intent to cause injury to the public during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari.

The anti-graft agency also accused Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

The arraignment was earlier slated before justice Maryann Anenih.

However, all the parties were not present in  court when the matter with case number: CR/264/2024 was called.

The court said that the prosecution sent a letter seeking for adjournment because Emefiele was standing trial in another court in  Lagos.

The judge therefore adjourned until May 15 for the arraignment.

Emefiele is also standing trial before Justice Hamza Muazu of FCT high court on an alleged 20-count amended charge, preferred against him by the Economic and financial Crimes Commission (EFCC).

He was alleged to have engaged in criminal breach of trust, forgery, conspiracy to obtain by false pretence and obtaining money by false pretence, when he served as the apex bank’s boss.

Justice Olukayode Adeniyi of a Federal Capital Territory (FCT) high court also on Jan. 8 awarded N100 million damages to suspended former governor of the central bank of Nigeria (CBN) against the federal government and Economic and financial Crimes Commission (EFCC) for violations of his right.

Adeniyi further restrained the federal government and it’s agents from arresting Emefiele unless an order was obtained through a competent court.

The judge held that the respondents need not incarcerate the applicant in other to carry out investigation for a long period as against the provisions of the law.

” No material placed before the court to show that the release of the applicant will in any way interfere with the investigation of allegations preferred against him.

The embattled Emefiele had dragged the Federal Government, Attorney-General of the Federation (AGF), Executive Chairman, Economic and Financial Crimes Commission (EFCC) and the Commission before the court to enforce his fundamental rights to life, personal liberty, fair hearing and freedom of movement.

Emefiele sought a declaration of the court that his continued detention by the agency of the first and second respondents since June 10, 2023 and subsequent transfer to the custody of the third and fourth respondents on October 26, 2023 without being arraigned in court is unlawful.

He said the respondents in deviance of several valid subsisting court orders for his release amounts to a grave violation of his fundamental rights to life, personal liberty, as guaranteed by the 1999 Constitution of Nigeria (as amended) and the African Charter on Human and Peoples’ Rights.

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AMMC declares war against manhole covers, streetlight vandals

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The Abuja Metropolitan Management Council (AMMC), Federal Capital Territory Administration, has declared war on vandals of manhole covers and streetlights in the territory.

The Coordinator of the council, Mr Felix Obuah, made this known in Abuja, while reacting to the unabated vandalism of manhole covers and gully inlet by hoodlums.

NEWSMEN recalls that the Federal Capital Development Authority (FCDA) introduced the use of materials with `no resale value’ in the production of manhole covers.

The move, according to the authority’s Head of Public Relations, Mr Richard Nduul, is to discourage criminal elements from stealing and selling them as scrap.

However, in spite of the efforts, vandals continued the heinous act, even when the covers do not have resale value.

The situation is disturbing that even the newly installed manhole covers of the B6 and B12 roads under construction on Independence Avenue in Central Area, Abuja, were being vandalised.

But Ubuah told the NEWSMEN in Abuja on Tuesday, that AMMC had concluded plans to take the war to their doorstep to curb the trend.

He said “we want to let the vandals know that we are taking the war to their doorsteps.

“You can see the good roads that are being constructed by FCT Minister, Mr Nyesom Wike, unfortunately, most of the manhole covers were being carted away.

“Most of the streetlights have been vandalised. We are no longer going to take it lightly with them.”

He disclosed that a taskforce would be established to further strengthen the clampdown on the manhole cover and streetlight vandals.

He expressed optimism that the law would soon catch up with the vandals, their sponsors and those patronising them.

“I addressed the executives of Apo spare parts dealers, and I told them that they are part of the people fuelling criminal activities in the FCT.

“This is because, if the criminals stole the manhole covers and other electrical equipment and could not get buyers, they would not continue with such acts.

“I told them categorically that they are the major sponsors and financiers of the vandals and that if they can partner with government, most of these things will be a thing of the past.”

The coordinator urged residents to report any suspicious movement around manhole covers to the government.

 

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