Connect with us

Business

FG To Tackle Issues Of e-Payment System

Published

on

The Accountant-General of the Federation, Alhaji Ibrahim Dankwambo, said in Abuja on Monday that government would tackle issues that affected effective and efficient implementation of e-payment system.

The News Agency of Nigeria (NAN) reports that the Federal Government introduced the e-payment system in January 1, 2009.

Dankwambo gave the assurance at a two-day training workshop on e-payment with the theme “e-Payment System and Public Financing Management Reporting System as Tool for Achieving Transparency in Government’’.

“Generally some of the problems which include delay in payment and customers getting value for services rendered are mainly human challenges.

“We are still battling with the human aspect of e-payment; there are still people who are not yet at home with the e-payment system.

“We will continue to dialogue with this people, we will continue to perfect the e-payment system to make it acceptable.

“We will also continue to train and retrain people and personnel who are working in the cause of implementing e-payment system so that the implementation will be smooth, challenges and the human factor minimised,” he said.

He added that issues of national network where everybody would hook up for the purpose of clearing and processing transaction was still on the platform.

This, he said, when finished by the end of 2010 would help eliminate some of the major challenges and enhance the e-payment system.

He said the main objective of organising the Forum was to broaden knowledge on the tools that could effectively be deployed to achieve transparency in government.

According to him, implementation of e-payment brought elimination of use of cash to facilitate speedy payments for all transaction, fast tracking the implementation of government policies through the elimination of delays in government payment system.

“Enhance transparency and accountability in payment system, achievement of economy and efficiency in government financial transactions among others,’’ he said.

Dankwambo noted that all Ministries, Departments and Agencies in the Federal Government had fully adopted the e-payment system.

In his keynote address, Mr Achi Achinuvu, Permanent Secretary, Ministry of Finance, said that considerable progress had been made over one year in realising the objectives that formed the basis for adopting e-payment.

“Such objectives include the elimination of unacceptable delays in the payment of contractors, Federal Inland Revenue Service (FIRS) and staff claims, interaction between contractors and government officials thus eliminating corrupt tendencies.

“It has fast tracked the process of implementation of government activities and removal of unnecessary bottleneck and ensured that audit trails of all payment can easily be traced to relevant accounts of individuals or companies that operate them,’’ he said.

He noted that there was need for accounting personnel in the public sector to brace to the international standard of financial reporting as it would enhance transparency in government.

He added that the Federal Government had planned Integrated Financial management Information System (GIFMIS) as steps to ensure accountability in government

“GIFMIS planned to take off in 2011, involves the computerisation of public financial management process, from budget preparation and execution to accounting and reporting with the help of an integrated system for financial management of line ministries, spending agencies and other public sector operation,’’ he said.

He tasked stakeholders to make meaningful contribution to enable the forum come out with issues that would help government achieve its goal of transparency, probity and accountability.

The Forum was organised Accountant –Generals of Nigeria in collaboration with the office of the Accountant-General of the Federation and the World Bank.

Participant were Accounting Officers drawn from federal, state and local government areas across the country.

Continue Reading

Business

FG Approves 4 New Channel Management Firms For Seaports

Published

on

The Federal Executive Council (FEC) has approved four new channel management companies for seaports across the country in a move aimed at improving vessel navigation and port operations.
Speaking at the recently concluded Annual General Meeting of the Nigerian Association of Master Mariners (NAMM), former General Manager, Marine and Operations, Capt. Ebubeogu Ihenacho, disclosed that there would be changes in the ownership of the Lagos Channel Management Company Limited and the Bonny Channel Management Company.
According to Ihenacho, the four channels serving Nigeria’s major port clusters will have different channel management companies as approved by the FEC.
He said a new company had been approved to manage the Lagos port channel, with a change of name, while the Calabar Channel would be managed by the Calabar Channel Management Company.
He added that Bonny Channel Management Company had also undergone a change of ownership.
On the Warri Channel, Ihenacho said the Federal Government had approved China Harbour Engineering Company (CHEC) and two other companies to form a consortium to manage the Escravos Channel.
He said: “For Warri, it was approved for China Harbour Engineering Company, CHEC, and two other companies, who would now form a consortium.
That consortium will now form a Special Purpose Vehicle (SPV) with the Nigerian Ports Authority to manage the Escravos Channel.”
Recall that the management of the NPA had declined to renew the concessions of the Lagos Channel Management Company Limited and the Bonny Channel Management Company, opting instead for six-month extensions of the existing arrangements.
By; Enoch Epelle
Continue Reading

Business

RIRS Warns Against Unauthorised Tax Collection

Published

on

The Rivers State Internal Revenue Service (RIRS) has warned motorists, transport operators and business owners against paying taxes, levies or charges to Unauthorised persons and organisations, insisting that only the Service and its duly appointed agents are legally empowered to collect taxes on behalf of the state government.
The Service gave the warning in a public notice dated October 21, 2026, signed by its Executive Chairman, Sir Israel O. Egbunefu, FCTI, in which it clarified that the Rivers State Ministry of Transport was not authorised by the state government to collect road tax or any other tax, levy or charge from motorists and transport operators.
RIRS also specifically disowned Explore Strategic Alliance Ltd, located at No. 7 Rumuodaolu Market Road, Port Harcourt, declaring the company had not been appointed or authorised by either the state government or the Service to collect Motor Vehicle Transport (MOT) tickets or any other tax on its behalf.
The revenue agency consequently cautioned members of the public against making payments to the company or any of its staff, stressing that anyone who ignored the warning would do so at their own risk.
It reaffirmed that only the legally authorised agency responsible for tax collection in Rivers State and the appointed agents that would carry out such duties in accordance with the law.
The Service urged taxpayers to demand official identification from anyone claiming to be its tax agent and verify the person’s credentials directly with RIRS before making payments.
It further warned that individuals or groups found impersonating tax consultants, agents or their representatives to collect Unauthorised taxes would be arrested and prosecuted in accordance with the law.
RIRS also called on members of the public to report suspicious persons and activities relating to Unauthorised tax collection to the Service for appropriate action.
The agency advised taxpayers seeking clarification or assistance to visit any of its offices or contact it through its official email address, info@riversbirs.gov.ng.
The Service reiterated its commitment to protecting taxpayers, promoting voluntary compliance and safeguarding the integrity of tax administration in Rivers State.
By: King Onunwor
Continue Reading

Business

Bayelsa consumers Groan  Over Inflation As Traders Remain Helpless Over Low Patronage 

Published

on

Consumers and traders at the Swali ultramodern market in Yenagoa, capital of Bayelsa State have continued to groan over high prices of commodities and poor Patronage due to cost-push inflation.
The Tide reports that in the past weeks prices of goods and services in Yenagoa metropolis has experienced increase.
Notable services like transportation have also increased  lately due to increase in the pump price of fuel that has recently further exacerbated inflation in the prices of staple foods like rice, beans, garri and others.
Speaking with The Tide on a market survey, a trader, Mrs Tovie Barakabo said a bag of bean which sold between N120,000-N130, 000 now goes for N140,000-N145,000.
Mrs Barakabo also hinted that the only commodities whose price has not gone up was price of millet which sells N60,000, while big bag of garri now sells for N30,000.
The Tide further gathered from other inside Source that 25 litres of Kings cooking oil currently sells N75,000 as against the former price of N57,000.
Other commodities such as delicious vegetable oil  now goes for N68,000, Pure vegetable oil currently goes for N66, 000, while spaghetti is now N18,800 per bag.
The market survey also discovered that Sonnia tomato mix sells N75,609, while a big and small basket of fresh tomatoes are sold for N30,000 and N6,500 respectively.
A disappointed custom, Mrs Juliet Domo who fielded questions from The Tide expressed her worries over the inflation, calling on government to take decisive stands against inflation.
By: Ariwera Ibibo-Howells, Yenagoa
Continue Reading

Trending