The 2019 General Elections Postponement: The Cost Implications

Mrs Kachi had kept vigil alongside her two daughters, mixing the flour to fry the puff-puff which they intended to take to the polling units in their neighborhood later in the day. The boisterous wails of Mrs Kachi alerted her next-door neighbor, Mrs Hadiza who on hearing about the postponement of the election, remembered her bucket of freshly made kunu. They locked themselves in a warm embrace and erupted in to a raucous rancorous chorus of “I am dead o, Nigeria has killed me o!”. Their beloved country had just put them in debt.

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THE HARD WAY, THE ONLY WAY!

A Bird’s Eye View on the FIRS Suspension of Lien on Bank Accounts

About two weeks ago, a good number of corporate and individual business owners got the shock of their lives when most suddenly, they were served notices on their bank accounts. The accounts had been placed on a freeze on the instruction of the Federal Inland Revenue Service (FIRS) due to the lack of regularization of their tax status or some default on their part. Business owners had funds ranging from hundreds of thousands to millions and even billions stuck in their banks!

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Juxtaposition of States’ fiscal position, Taxes and its implications

It is noteworthy that for the most part of the last two decades, most Nigerian States have become overly dependent on the statutory allocations from the Federal Government. As far as financial sustainability is concerned, many of these States have become seemingly complacent, with a good number of them barely generating even 20% of the figures of their allocations from the FAAC in internally generated revenue (IGR) figures. This trend has become more saddening in recent times especially because the narrative has been changing in a few quarters as more State governments have now started looking inwards.

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Nigeria’s Presidential Elections: Our Battleground States

With Nigeria’s presidential elections just two days away, permutations of varying degrees are ongoing in a bid to predict our nation’s incoming president. This is especially because winning the coveted presidential seat requires gaining the highest number of votes cast and clinching at least 25% of votes cast in at least 24 of Nigeria’s 36 states. The electorate could just wait for the results of the election, but it is a known fact that the perception by both the local and international community of the election results will affect the president’s influence.

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