Soludo gives board 3 months ultimatum to increase IGR or be disbanded

AWKA, Nigeria – Anambra State Governor,  Prof Charles Soludo has threatened to disband the newly inaugurated Anambra State Board of Internal Revenue, ABIR if it fails to increase Internally Generated Revenue, IGR within three months.

According to the governor, IGR in the state is currently below projections. This was contained in  a statement issued  by the Press Secretary to the governor, Mr.  Christian Abaruime.

 According to the statement, Soludo  gave the threat while  inaugurating  the new  members of  ABIR, whom he charged to  expeditiously increase the state’s internal generated revenue  within first three  months or face dissolution.

According to  Soludo , IGR is the life-blood of all government operations, noting that if it doesn’t work, nothing works. He noted that the results of IGR are not even close to 50% of what he anticipated to achieve.

The governor said that he expected to have the revenue body doubled its initial revenue within its first four months.

“The state government should be making more than 3 billion naira per month, which is yet to happen, and that the 2023 budget is expected to generate 4 billion naira per month, stressing that the Anambra state government is running a deficit on IGR, which is one of the key projections.

“FAAC allocations are unpredictable, but we have an economy with an estimated value of up to 5 trillion naira. It is critical to highlight the enormous potentials that exist, as well as the appropriate benchmarks and targets.”

“If we have a 5 trillion naira estimate and collect 1%, that is 60 billion naira per year. If we collect 2%, that’s 120 billion naira per year, or a minimum of ten billion naira per month on average. If we receive 5% of income, we will have 300 billion naira per year.

Advertisement

“As of Monday, we were dangling around 1 billion naira per month, which is extremely low. You can see how far we are doing in relation to the potentials that exist,” Soludo said.

He further hinted that the  internal revenue service requires a 180 percent turnaround stating that the  current path taking will not get them very far because they  have been trying it for a year.

“Members of this board must get to work right away because there is a lot of work ahead of them. We will interface and evaluate performance every three months.” It will have a high mortality rate and a three-month life span. If this board fails, we will disband it and create a new one” he stated.

Terms of Reference of the Anambra State Board are:

 1.Providing general policy guidelines regarding the functions of the State Internal Revenue Service and supervising implementation of such policies.

 2.Ensuring the effective and optimum collection of all revenue, including levies and penalties due to the State Government under the relevant Federal and State Laws.

3. Doing all such things that may be deemed necessary and expedient for the assessment and collection of all revenue.
4. Accounting for all amount so collected in a manner to be prescribed by the Governor.
5. Making recommendations where appropriate to the Joint Tax Board on tax policy, tax reform, tax registration, tax treaties and exemption as may be required from time to time.
6. Appointing, Promoting, Transferring and imposing discipline on employees of the State Internal Revenue Service.
7. Making Recommendations to the Governor regarding the terms and conditions of employment and remuneration of staff of the Internal Revenue Service.
8. Controlling the management of the State Internal Revenue Service on matters of policy, subject to the provisions of any regulations setting up the State Internal Revenue Service.
9. Doing such other things as are in the opinion of the Board necessary to ensure the efficient performance of the functions of the State Revenue Service under the Law”