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CBN to launch N15trn infrastructure fund in October 

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CBN to launch N15trn infrastructure fund in October 

 

Central Bank of Nigeria, CBN, had announced that (Infra-Co), the N15trn Infrastructure fund that will support infrastructure projects, will be launch next month.

This was disclosed by Governor of CBN, Godwin Emefiele at the 4th annual banking and finance conference by Chartered Institute of Bankers of Nigeria, CIBN, yesterday in Abuja.

The company whose establishment was approved by President Muhammadu Buhari in February, is expected to get its initial seed capital from the CBN, the Nigerian Sovereign Investment Authority, NSIA, and the Africa Finance Corporation.

 

He stated: “InfraCorp would enable the use of mostly private capital to support infrastructure investment that will have a multiplier effect on growth across critical sectors.

“The purpose of the N15 trillion being raised is to address some of our infrastructure needs while providing reasonable returns to investors.

“We believe this well-structured fund can act as a catalyst for growth in the medium and the long run. The support of the banking community will be important in achieving this objective.”

On the establishment of NIFC, Ememfiele said: “The NIFC will act as an international gateway for capital and investments, driven by technology and payment system infrastructure.”

According to Emefiele, the NIFC, when operational, will be a 24-hour financial centre that will complement London, New York, and Singapore financial hubs.

He noted that the NIFC would complement other CBN efforts, such as the Nigerian Commodity Exchange and the National Theatre’s creative hubs for Nigerian youths, as well as the e-Naira project, which will be launched in October 2021.

“The NIFC will take advantage of our existing laws such as the BOFIA 2020, NEPZA and other CBN regulations to create a fully global investment and a financial hub where monies, ideas, and technology will move freely without hindrance,” Emefiele added.

Meanwhile, the Vice -President, Yemi Osinbajo, speaking at the event, stressed on the need for infrastructure development, saying that inadequate housing finance model among other challenges, is hindering the achievement of the federal government mass housing Programme.

 

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FIRS Launches USSD Code *829# for taxpayers’ satisfaction

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FIRS Launches USSD Code *829# for taxpayers’ satisfaction

 

In a bid to enhance ease of doing business, the Federal Inland Revenue Service (FIRS), on Wednesday, launched an Unstructured Supplementary Service Data (USSD) Code *829# specifically targetted at improving taxpayers’ satisfaction.

FIRS chairman, Zacch Adedeji, launched the code at the Revenue House in Abuja as part of activities making this year’s Customer Service Week which has the theme Above and Beyond.

The initiative makes Nigeria the sixth African country to deploy USSD code for simplifying tax payment processes. .

A statement by Dare Adekanmbi, Special Adviser on Media to the FIRS chairman said taxpayers on any mobile telecommunication network in the country can now get across to FIRS real-time on issues relating to retrieval of Taxpayers Identification Number (TIN), verification of Tax Clearance Certificate (TCC), information on tax types and rates, locate the nearest FIRS office, and as well as get answers to general tax-related inquiries.

Speaking at the ceremony, Adedeji said the instant messaging protocol demonstrated further commitment of the agency to simplifying tax administration and ensuring that “every taxpayer—whether in bustling cities or remote areas—can engage with FIRS seamlessly.”

He called on taxpayers to enjoy the benefits that the USSD code offers and utilise the code for all their enquiries.

“With the *829# USSD code, taxpayers now have the power to: retrieve their Taxpayer Identification Number (TIN), verify their Tax Clearance Certificate (TCC), access information on tax types and rates, locate the nearest FIRS office, and get answers to general tax-related inquiries.

“Without the need for internet access, all of these services are now available with a simple mobile phone. This technological leap reflects our dedication to creating a tax system that is efficient, transparent, and responsive to the needs of taxpayers”, he said.

The agency also launched Customer Centricity Guide, a booklet containing policies, processes and procedures to ensure that FIRS keeps the taxpayers in their rightful position as ‘kings.’

“Equally important is the unveiling of the Customer Centricity Guide. This guide embodies our commitment to putting taxpayers at the centre of our service delivery.

“It outlines the principles and values that will drive our interactions with taxpayers by ensuring that every engagement is defined by respect, professionalism, and efficiency.

“The guide serves as a reminder to us all that the taxpayer is not just a client, but a valued partner in nation-building. Through the combination of the *829# USSD code and the Customer Centricity Guide, we are reinforcing a culture of service excellence and making tax compliance not just a duty but an experience that fosters trust and voluntary participation.

“As we celebrate this achievement, I encourage everyone to make full use of the *829# service and embrace the Customer Centricity Guide. Your feedback will be crucial as we continue to enhance these services and meet the evolving needs of our taxpayers,” he said.

The national coordinator of Servicom, Nnenna Akajemeli, praised the effort of the FIRS towards taxpayers’ satisfaction, noting that the efforts are evident.

“There are many things to congratulate the FIRS on. One is the launch of the USSD code *829# and the customer centricity guide. These initiatives which are simplifying tax and ensuring that citizens and taxpayers are delighted at the quality of service you render,” she said.

FIRS Director, Taxpayers’ Service Department, Loveth Onanuga noted the agency recognized that customer-centricity means more than just satisfying customers’ basic wants, but also going “above and beyond what customers anticipate and astonishing them with great service” in line with the theme of the week.

 

 

CAPTIONS USSD 1-3

L-R, Coordinating Director, People Services Group, Anthony Okonkwo; Coordinating Director, Services Support Group, M.L Abubakar; Coordinating Director, Compliance and Enforcement Group, Matthew Gbonjubola; Coordinating Director, Medium Taxpayers’ Group, Dick Irri; Chief of Staff, Tayo Koleosho; chairman, Federal Inland Revenue Service (FIRS), Zacch Adedeji; Coordinating Director, Corporate Services Group, Mrs Bolaji Akintola; Coordinating Director, Special Duties, Tamadi Shettima; Coordinating Director, Large Tax Group, Ms Aminat Ado during the unveiling of the agency’s USSD code *829# at the FIRS headquarters in Abuja, on Wednesday.

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Fidelity Bank improves ease of Revenue Collection with Tax Booths

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Fidelity Bank improves ease of Revenue Collection with Tax Booths

 

 

As part of initiatives towards increasing efficiency in revenue collection in Anambra State, leading financial institution, Fidelity Bank Plc, has donated 10 units of tax booths to the Anambra State Internal Revenue Service (AIRS).

Commenting on the donation, the Regional Bank Head, Awka, Fidelity Bank Plc, Dr. Nosa Orumwense, explained that the donation is borne out of the bank’s devotion to creating solutions for its customers.

“For nearly four decades, Fidelity Bank has been dedicated to meeting the banking needs of Nigerians with customized solutions. Whether through thoughtfully designed products or exceptional services, we have established ourselves as the preferred bank for individuals looking to grow, businesses interested in prospering and economies that want to prosper.

“Today’s donation to AIRS is a first-of-its-kind initiative in Nigeria and would go a long way in smoothening the experience with tax payment and collection for individuals and the Anambra State government respectively. We are grateful for the opportunity to partner with the government on this project and commit to do more”, explained Dr. Orumwense.

Named the “Fidelity Bank AIRS Small-Tax Hubs,” these booths are customized, secure, and user-friendly self-service terminals designed for efficient banking transactions. They are equipped with both mains and solar power sources to ensure continuous operation, and they connect to the internet for real-time transaction processing.

At the commissioning ceremony, Chairman of Anambra State Internal Revenue Service, Dr. Greg Ezeilo, FCA expressed gratitude for the donation, calling the gesture “a dream come true.” An elated Dr Ezeilo praised Fidelity Bank for the groundbreaking support while promising that the hubs would be utilized effectively.

Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged commercial bank with over 8.3 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.

The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

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FG confirms Oyedepo’s Canaanland airstrip approval

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PRESIDENT TINUBU CONGRATULATES BISHOP DAVID OYEDEPO AT 69

FG confirms Oyedepo’s Canaanland airstrip approval

 

The Minister of Aviation and Aerospace Development, Festus Keyamo, has confirmed the approval of an airstrip for Canaanland, the property known to be sitting the Living Faith Church in the Ota area of Ogun State.

 

FG confirms Oyedepo’s Canaanland airstrip approval

Founder of the Church, also known as Winners Chapel, David Oyedepo, was seen in a short video celebrating the development, telling the congregation of the latest government approval for the church.

Oyedepo announced this during the Tehillah Night Special Edition at Covenant University Chapel, Canaanland, Ota, Ogun State, on Sunday.

The Tehillah Night special edition was a special thanksgiving programme held in honour of the clergyman, who recently marked his 70th birthday in September.

 

Contacted, media aide to the minister, Tunde Moshood, confirmed this development, saying the minister approved the airstrip.

“Yes, the minister approved the airstrip. It is a private airstrip and the minister approved it, that I can confirm.”

According to Oyedepo, this development will enable him to travel directly from the church premises, eliminating the need to fly to the airport first.

 

 

He said, “I am sure you will be glad to know that the Federal Government has approved an airstrip for Canaanland.

“I won’t need to fly a helicopter to the airport. I can leave from here to wherever I am going. Members with their planes will have where to land and park.”

The airstrip reportedly aims to improve transportation for worshippers and visitors, especially during large events like the church’s programs that draw numerous worshippers worldwide.

Oyedepo encouraged his congregation to find their place in God’s plan, citing Covenant University graduates who flew him as examples.

“Won’t you be glad to know that there are some captains who are graduates of Covenant University that fly me? We don’t have an aviation department here, but they found their place in God and went after it.

“That’s what this university is all about, it’s not about boxing you up. It’s about allowing you to locate God’s plan and pursue it accordingly. Young people, don’t play away your life, you don’t have a spare,” he said.

 

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