The National Cooperative Financing Agency of Nigeria (CFAN,) has advised the newly appointed Chairman of Federal Inland Revenue Service (FIRS), Mr Muhammad Nami to maintain increased revenue tempo of the service.
Mr Emmanuel Atama, the Executive Secretary of CFAN told Nigeria News Agency on Tuesday in Abuja that maintaining the improved revenue tempo would enrich the country.
NAN recalls that President Muhammadu Buhari on Monday approved the exit of Mr Babatunde Fowler as the chairman of FIRS following the expiration of his tenure.
The President named Nami, a tax consultant, as the new chairman of the service.
Atama commended Buhari for the prompt appointment, noting that the government was at liberty to appoint anyone at any time.
As far as I am concerned, FIRS overtime has maintained the tempo of increase in revenue generation for the country.
Whoever that is coming should continue to sustain the tempo or do more than that.
The government has the liberty to appoint anyone it wants. The man that just finished his tenure took over from somebody so there is room for choice.
We hope that whoever that is coming in will make the best use of the office for the good of the country,’’ he said.
The executive secretary appealed to the Federal Government to judiciously use the increase in Value Added tax (VAT) from five to 7.5 per cent to effectively finance infrastructure development.
Government can finance infrastructure for the benefit of citizens only when they have enough resources at its disposal.
My prayer is that if VAT is increased, the revenue should be carefully used to ensure that citizens get value for what they are paying for,’’ he said.
NAN reports that Buhari also approved the composition of a new board for FIRS, subject to the confirmation of the Senate.
Edited by: Chinyere Bassey/Ese E. Ekama