Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji says the

Service will meet the N19.4 trillion target for itself by the end of 2024.

Adedeji gave the assurance, at the 2024 stakeholders’ engagement with the Senate

and House Committees on Finance, tagged: ‘Repositioning the FIRS to Achieve Its

Mandate’, in Lagos, adding that, the figures the Service had been able to garner in the past

eight months, has been put it in pole position to deliver on the target given for itself at the

beginning of the year.

He also said, the law, meant to overhaul revenue administration in Nigeria, including

regulation of the cryptocurrency industry, which is being put together for transmission to

the National Assembly, and would be ready soon, adding that the aim of the bill is to,

among others, simplify tax laws, harmonize collection of revenue as well as seek the

replacement of obsolete tax laws with new ones in line with the current economic

realities.

Adedeji insisted cryptocurrency had gained prominence all over the world, and Nigeria

would, not shy away from being part of the global business, and attributed the feats the

Service in the past few months to the support it had been getting from both the

executive and the legislative arms of government, while, the stakeholders’ engagement

with the Senate and House Committees on Finance was to further strengthen that bond,

by updating them with the activities of the Service, its challenges, and call for more

support.

In his remarks, the Chairman, Senate Committee on Finance, Senator Mohammed Sani

Musa said, the Service should be the regulating and collecting agency for all taxes for

the federation, adding that, the National Single Window programme will address the

inefficiency in revenue collection in the country, and also assured the service of the

lawmakers’ support, describing the engagement as another opportunity for the

lawmakers to listen, learn and contribute on how best to support the FIRS to achieve its

target.