Admin l Friday, February 17, 2017
IKEJA, Lagos, Nigeria – National Leader of the Peoples Democratic Party, PDP, Chief Olabode George has called on the Federal Inland Revenue Service, FIRS and the National Assembly to go after banks who have formed the habit of spending hard currencies in advertising on the Cable Network News, CNN.
Ambode who was speaking on the subject, Unemployment: How Do We Tame This Monster at the 1st Annual Lecture of Freedom Online said the Federal Inland Revenue Service, FIRS and the National Assembly should put a slap on it by taxing 90 percent of the money used in funding such adverts.
The PDP chieftain who described the rush to advertise on CNN as nothing but egocentricism asked what the banks are looking for in going international with their adverts.
He said that all the assets of banks in Nigeria are not up to the combined assets of ABSA in South Africa, now Backlays Bank.
” All their assets put together is not up to assets of ABSA, it egocentricism. With all the assets they have, do you see Backleys Bank advertising on CNN”, he queried.
He said the relevant agencies should use the fund to be generated from the tax for scholarship and to support those vulnerable in the society.
He said that by competition, Nigeria is gradually degenerating into a pariah state. “They are paying in hard currency, Dollars and it is not small money, 1 minute advert on CNN seen all over the world, what are they promoting I believe the FIRS, the National Assembly should put a slap to that.
Ninety (90) percent of whatever they spend there, they should tax them here and the money should be invested in scholarship to assist the vulnerable one in the society or be used to assist in the unemployment”, he said.
He also called on government to look into the curriculum of schools ans make it such that those graduating can go into entrepreneureship.
