Tobi Aminu – Page 33 – Sunmola David & CO

Tribunal Fixes Aug. 16 For Settlement In FIRS

The Tax Appeal Tribunal sitting in Abuja, on Tuesday fixed Aug. 16, for Report of Settlement a suit filed by a company, “M FIFTEEN” Consultants against the Federal Inland Revenue Service (FIRS) and one other. The company dragged the FIRS, before the Tax Appeal Tribunal over alleged double taxation. Also joined in the suit are the Independent Electoral Commission (INEC) and the Nigeria Police. The company, said it was dissatisfied with the FIRS assessments of its Tax Liability. The Chairman of the tribunal, Mrs Alice Iriogbe, fixed the date after the appellant’s counsel, Mr Ifegbunachi Onwo, said parties had started and were currently taking steps to settle out of court. Iriogbe said: “since parties are disposed to settlement, the matter is adjourned until Aug. 16 for Report of settlement or continuation of hearing”. Earlier, Onwo sought for an adjournment to enable parties to meet and cement details. Also, the respondent’s counsel, Mr Adebayo Ogunmola, told the tribunal that there was a partial position as the appellant counsel had called him twice but parties have not been able to meet, he further stated that they were fully disposed to settlement and hoped it would not be a total waste of time. Also, INEC’s counsel, Mr Nnamdi Onyenwu, submitted that he was ready to incorporate the first respondent counsel’s position and was ready to align with the decision of other parties. NAN also reports that the company specifically said that it was dissatisfied with an intent letter by the FIRS imposing a tax liability of N14. 662 million on it without due consideration of all the material and available facts. The company further stated that the N7. 9 million captured as part of the tax liability have already been deducted at source by the FIRS and the police from the contract sum of the appellant. The company argued that it would amount to double taxation if FIRS expected the appellant to pay same again. It therefore sought the order of the tribunal to declare as null and void, the intent letter by FIRS dated April 7, 2014 . The company also sought an order of the tribunal directing INEC and the Police to show evidence of remittances to FIRS of the sums deducted from the payments made by the appellant in respect of contract executed. The appellant also asked the tribunal to direct that credit should be given to the appellant in respect of the tax deductions made on payments due to it from the INEC and the Police totalling N7. 9 million. The company further sought an order directing FIRS to issue it a tax clearance certificate which was withheld for the 2006 to 2011 year of assessment. Source: Leadership

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Law firm denies involvement in tax fraud

TAX SERVICES / Tobi Aminu

A law firm, SimmonsCooper Partners, alleged by a newspaper report to be associated with or involved in a N100 billion tax evasion scandal with Alpha Beta Consulting Limited, has refuted the allegations and given the newspaper 72 hours to retract the accusation or face legal actions for defamation and malicious falsehood. The report alleged the law firm, formerly headed by Prof. Yemi Osinbajo SAN, before he was elected the Vice President of Nigeria, served as Company Secretary to Alpha Beta Consulting Ltd. In a statement signed by the Managing Partner of SimmonsCooper Partners, Mr Dapo Akinosun, yesterday, the law firm refuted the story, stating that it is not involved neither does it have a link with the alleged tax evasion. He further stated that the firm has never been retained by Ocean Trust Limited to offer secretarial services as alleged by the newspaper report. “As is custom with filings as Company Secretary, there is no acceptance letter by the firm consenting to the purported appointment, or any other filing undertaken by the firm as Company Secretary at the registry of the Corporate Affairs Commission”, he said. Akinosun acknowledged Osinbajo as a “one-time senior partner” of the law firm who resigned from the firm upon his election as Vice President of Nigeria, in line with international best practices. “SimmonsCooper Partners is a product of the combination of her members’ intellectual capital, industry and integrity garnered for several years. We are proud that Osinbajo continues to epitomize these values even in public service. “SimmonsCooper Partners intends to seek redress to the fullest extent available in law and has requested the newspaper to do all of the following: Remove from publication in their entirety the defamatory publication and all online threads to prevent further harm to the firm’s business; produce an apology and a declaration that the allegations referred to are false and defamatory and cause such apology to be published in each of the forums which have given or could give reason for our complaint; make proposals for the payment to us of damages for the harm caused to our reputation; and undertake to actively monitor and delete any newly published defamatory content relating to the firm. “If the defamatory publication and threads are not permanently removed and the above undertakings are not complied within the stipulated period, SimmonsCooper Partners reserves the right to undertake further action as appropriate.” Source: guardian

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Manufacturers Oppose FG’s Planned Increase in Taxation and VAT

TAX SERVICES / Tobi Aminu

Manufacturers and providers of goods and services under the aegis of Nigeria Employers’ Consultative Association (NECA) wednesday expressed their opposition to the plans by the federal government to increase taxation, including the value added tax (VAT). NECA also called on the federal government to address the nation’s infrastructure deficit before the take-off of the African Continental Free Trade Area (AfCFTA). It lauded the signing of the agreement by President Muhammadu Buhari, saying the trade pact could enhance capital inflows into the country. It also warned that AfCFTA could harm the country’s economy in view of what it described as the variables of Nigerian businesses and industry. Speaking after leading a delegation of NECA to a meeting with President Buhari in the State House, Abuja, NECA’s Director-General, Timothy Olawale, said members of the delegation told Buhari that increasing tax this period would increase the burden of companies which were already paying more than they could bear. Besides, he said increasing VAT now would further impoverish the poor. A former Minister of Finance, Mrs. Zainab Ahmed, had said in June that the federal government was planning to increase VAT to 7.5 per cent from the current five per cent by 2020. She said the increment would help the federal government to shore up falling revenue. But Olawale said the delegation told the president that instead of increasing any tax rate, efforts should rather be geared towards broadening the scope of tax collection by going after 65 per cent of the citizenry who do not pay tax. He said if at all VAT would be increased, the increase should be targeted at luxury goods and opulent people and not the masses. “Basically, what we told the president is what we have repeated over and over again in the public domain, that rather than any increase in taxation because as it is, organised businesses are already being overburdened with all sorts of taxes and levies; as a matter of fact, we have calculated 105 different taxes and levies we are paying as we speak, which is cumbersome and burdensome. “So, we had advised that rather than resort to any form of increase in taxation, what government should be looking at is putting mechanism in place to widen the tax net in such a way that almost 65 per cent of non-compliant taxpayers are captured in the tax net. That way, more revenue will accrue into the coffers of the government. We specifically also voiced our concern with the suggestion and proposal out there that value added tax should be increased. “We have advised government that if it comes to be, it will reduce the purchasing power of Nigerian workers as well as the poor masses that the president, as we know, is working hard to improve their lot. We are saying that if government must as a matter of an avoidable necessity increase VAT, it should target luxury goods as well as the extra affluence in the society, not the poor masses or consumption goods and services that are for the benefit of the masses,” he said. On AfCFTA, Olawale said whereas the agreement was laudable and could enhance capital inflows into the country, it could also harm the country’s economy in view of what he described as the variables of Nigerian businesses and industry. He listed such variables to include poor infrastructure deficit, which does not make Nigerian goods and services competitive. According to him, to save the country’s businesses from chaos, the government must address the lingering challenges, otherwise, companies that are already struggling will eventually fold up when the implementation begins. “We don’t want a situation where our businesses are not competitive due to the disadvantaged environment in which they operate. Of course, we are all familiar with the disadvantaged environment with regards to the issue of agriculture among which is power and the issue of road network, that is transportation of goods and services and accessibility to the different business environment. Source: Thisdays

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Fowler Lists Benefits Of New JTB TIN Registration System

Tax news / Tobi Aminu

Chairman of the Joint Tax Board (JTB), Mr. Babatunde Fowler, has stated that the Tax Identification Number (TIN) Registration System and Consolidated National Taxpayers Database introduced by the JTB will improve the efficiency and output of the entire tax administration process and provide convenience to taxpayers and tax authorities. (From Left): Mr. Tunde Fowler, Chairman, Joint Tax Board (JTB) and Federal Inland Revenue Service; Lagos State governor, Mr. Babajide Sanwo-olu; Sir Oseni Elamah, Executive Secretary, Joint Tax Board; and Mr. Amidele Zubair; Executive Chairman, Lagos State Inland Revenue Service at the South-west Flag-off ceremony of the new JTB Tax Identification Number Registration System in Lagos on Thursday. Fowler, who is also the Chairman of the Federal Inland Revenue Service (FIRS) stated this in Lagos on Thursday during the South-west Flag-off ceremony of the new system, which was launched in Abuja on 1 July. According to the JTB Chairman, the new system will ensure that taxpayers’ information are available whenever and wherever they need them. The system, said Fowler, possesses the capability to integrate with relevant agencies and leverage on already captured data, deploy analytics to discover underlying and correlating trends and patterns that could lead to increased Internally Generated Revenue (IGR) for all tiers of government. These agencies, he added, include the Corporate Affairs Commission (CAC), Nigeria Customs Service (NCS), Nigeria Immigration Service (NIS), Federal Road Safety Commission (FRSC), Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS), Nigeria Identity Management Commission (NIMC) and Nigerian Communications Commission (NCC), “This would significantly reduce the burden of manual taxpayer information management and by extension grossly crash the cost of collection”. “The system is designed in such a manner that each taxpayer is assigned a unique and universal Taxpayer Identification Number (TIN) and it is now possible for any taxpayer to view, retrieve or update his/her tax profile from anywhere 24/7,” said the JTB boss. The new TIN Registration System and its consolidated database of individual and corporate taxpayers’ have been designed to form the foundation upon which the nation’s automated tax administration system is built. In his opening remarks at the event, Executive Secretary, JTB, Sir Oseni Elamah, said the new system is a web-based solution that offers access to authorized users to initiate TIN request from the comfort of their homes/offices real-time online, verify their tax status and print their TIN certificate. “It is a transparent system that assures timely and accurate collection and recording of basic identification data. “It also permits the tax administrator to understand its taxpayer base for effective revenue projections and other planning activities. “By leveraging on existing data from relevant identity management agencies, the new System reduces the burden of multiple registration of taxpayers as well as promoting the ease of doing business and paying taxes. “It also ensures seamless integration and exchange of information amongst the various tax authorities within and outside Nigeria, as well as with other authorized stakeholders via web service,” he explained. Chief host of the ceremony, Mr. Babajide Sanwo-olu, Governor of Lagos State, commended the JTB for initiating the new system, which he said will take tax administration to the next level. Also in attendance was Mr. Dapo Okubadejo, Chief Economic Adviser to the Ogun State government, who represented Governor Dapo Abiodun of Ogun State. Source: ameh news

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JTB targets 45m taxpayers by September 2019 – Fowler

TAX SERVICES / Tobi Aminu

The Joint Tax Board (JTB) Chairman, Mr. Tunde Fowler, on Thursday, expressed optimism that 45 million Nigerians would be within the taxpayers’ net before the end of the third quarter of 2019. Fowler disclosed this at the inauguration ceremony of the new South West Regional National Taxpayer Identification Number (TIN) registration system and consolidated national taxpayers’ database in Lagos. Fowler, who is also the Executive Chairman, Federal Inland Revenue Service (FIRS), explained that the new system would promote a tax-friendly environment. He noted that the last four years had seen the expansion of the tax base from 10 million to 20 million tax payers with the potential for an increase of up to 45 million before the end of the third quarter. The JTB boss added that there had been growth in the Internal Generated Revenue of states by 46.11 per cent from N800.02 billion in 2016 to N1.16 trillion in 2018. According to him, growth in FIRS collections increased by 53.81 per cent from N3.30 trillion in 2016 to N5.32 trillion in 2018; with the 2018 total collection of N5.32 trillion being the highest collection ever in the history of FIRS. He said non-oil revenue accounted for 54 per cent with a collection of N2.85 trillion during the period. “We hope that this gesture will encourage state governments to also promptly remit all Withholding Taxes and VAT due to the Federation Account,” Fowler stated. Fowler said the new system would reinforce the laudable efforts of the present administration towards building a robust tax-revenue system, promoting a tax-friendly environment. He added that the system will also ensure a sustainable and inclusive economy for all Nigerians. Fowler noted that the new tax system, while improving the efficiency and output of the entire tax administration process, was meant to provide convenience to both the taxpayers and the tax administrator. He said the new system guaranteed that each taxpayer’s details were readily available to them at their fingertips all times. Fowler stated that the South West Geopolitical Zone was the largest contributor to total IGR collection at the sub-national level with 45.6 per cent contribution in 2018. He added that Lagos State had continued to carve a niche for itself in terms of innovation and dynamism in tax administration. Fowler said the new system would consolidate the efficiency and effectiveness of the tax administration process. The JTB Executive Secretary, Mr Oseni Elamah, said the dynamics of change globally, especially as it related to information and communications technology had made it imperative that domestic tax-revenue the administration met up with emerging trends. Elamah said the new TIN Registration System and its consolidated database of individual and corporate taxpayers’ had been designed to form the foundation upon which the nation’s automated tax administration system was built. “The new system is a web-based solution that offers access to authorised users to initiate a TIN request from the comfort of their homes/offices real-time online, verify their tax status and print their TIN certificate. “It is a transparent system that assures timely and accurate collection and recording of basic identification data. “It also permits the tax administrator to understand its taxpayer base for effective revenue projections and other planning activities. “By leveraging on existing data from relevant identity management agencies, the new system reduces the burden of multiple registrations of taxpayers as well as promoting the ease of doing business and paying taxes,” Elamah said. Also speaking, Lagos State Governor, Mr. Babajide Sanwo-Olu, said identity management (IM) had been a major challenge in virtually all spheres of activities in the country and tax administration was no exception. Sanwo-Olu stated that the new JTB National TIN Registration System was a welcome addition to reforms focused on taking identity management and tax administration in Nigeria to the next level. He agreed that Nigeria’s tax revenues continued to underperform their actual potential, and that Nigeria tax-to-GDP ratio was one of the lowest in the world at less than seven per cent. The governor commended JTB for rising up to the challenge with the introduction of a smart, innovative and technology-driven the solution that was credible and had the added benefit of universal acceptability. Source: Daily times

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Tax transactions to be conducted online- Tunde Fowler

Tax news / Tobi Aminu

Fowler made this known on Thursday during a speech at the south-west flag-off ceremony of the new Tax Identification Number (TIN) Registration System and Consolidated National Taxpayers Database. The website, which was first launched in Abuja on July 1, allows users to register and get their tax identification numbers (TIN) online. According to the JTB Chairman, the new system will ensure that taxpayers’ information is available whenever and wherever they need them. The system, said Fowler, will integrate data already captured by other relevant agencies, deploy analytics to discover underlying and correlating trends and patterns that could lead to increased internally generated revenue (IGR) for all tiers of government. He listed the agencies to include the Corporate Affairs Commission (CAC), Nigeria Customs Service (NCS), Nigeria Immigration Service (NIS), Federal Road Safety Commission (FRSC), Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS), Nigeria Identity Management Commission (NIMC) and Nigerian Communications Commission (NCC). “This would significantly reduce the burden of manual taxpayer information management and by extension grossly crash the cost of collection,” he said. “The system is designed in such a manner that each taxpayer is assigned a unique and universal Taxpayer Identification Number (TIN) and it is now possible for any taxpayer to view, retrieve or update his/her tax profile from anywhere 24/7. In his opening remarks, Oseni Elamah, executive secretary of the JTB, said the new system is a web-based solution that offers access to authorized users to initiate TIN request from the comfort of their homes/offices real-time online, verify their tax status and print their TIN certificate. “It is a transparent system that assures timely and accurate collection and recording of basic identification data,” he said. “It also permits the tax administrator to understand its taxpayer base for effective revenue projections and other planning activities. “By leveraging on existing data from relevant identity management agencies, the new system reduces the burden of multiple registrations of taxpayers as well as promoting the ease of doing business and paying taxes.” Source: Seriousmata

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Effective tax drive key to states’ financial independence

Tax news / Tobi Aminu

An aggressive tax drive through tech-driven process will wean federating States from overdependence on federal allocations, Lagos State Governor, Mr. Babajide Sanwo-Olu, has said. Lagos, Sanwo-Olu said, understood the challenges associated with overdependence on federal handouts early enough, prompting the State to pursue an inclusive revenue generation push to achieve financial autonomy and reduce its reliance on crude oil earnings. The Governor spoke on Thursday when he officially flagged off the new National Taxpayers Identification Number (TIN) Registration System and Consolidated National Taxpayers Database in the Southwest region. The new TIN was introduced by Joint Tax Board (JTB) – a body headed by the Executive Chairman of Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler. Sanwo-Olu said the sustenance of Lagos’ tax collection drive in the last 20 years had helped to insulate the state from the effects of decline in revenue derived from Federal Account Allocation Committee (FAAC), arising from the 2014 crash of global crude oil prices. He said: “With improved tax revenues, governments of the federating states can begin to wean themselves from an overdependence on crude oil earnings. In Lagos, we very much understood the importance of this early enough. “The overwhelming success of our tax collection drive over the last 20 years has helped, in no small measure, to insulate Lagos from the worst effects of the decline in FAAC allocations resulting from the 2014 crash of global crude oil prices. Many other states in the federation were not as fortunate.” To achieve improved revenue generation, the Governor said there was need to pursue efficient tax compliance among the citizens, pointing out that an improved tax collection and tax compliance drive would be a win-win policy for the government and the people. He said: “We know that as the level of tax compliance rises, citizens are more inclined to hold their governments accountable and demand a higher quality of governance and service. “Citizens everywhere in the world are constantly seeking easier ways of engaging with their governments and fulfilling their civic responsibilities. It is the duty of governments to respond to this need by removing barriers that inhibit compliance.” How would the government achieve higher tax compliance? “It is through technology,” Sanwo-Olu declared, adding that a tech-driven process remained the vital tool that should be leveraged by the government to actualise the purpose. He said: “This new Taxpayer Identification Number Registration System demonstrates the transformative power of technology as a significant contributor to the ease of doing business reforms, both at the national and sub-national levels. More critically, this also aligns with our agenda of leveraging technology to drive change across various economic sectors. “I believe there is still a lot of room for improvement on the progress made but this laudable initiative we are flagging off today will go a long way in bridging tax deficit by capturing eligible tax payers within the tax net.” The Governor praised the JTB and FIRS for the introduction of “a smart, innovative and technology-driven solution” in achieving higher tax compliance. Sanwo-Olu urged the media to play its role in educating the public on the importance and benefits of the new tax collection approach. Fowler, in his remark, said it was instructive Lagos was picked as suitable location for the flag-off of the new TIN Registration System in the Southwest, noting that first-ever tax transformation effort started in the state in 1999. The FIRS boss said the Southwest was the largest contributor to the tax generated in 2018 among sub-national zones. This, he said, was as a result of vibrancy in economic activities in the zone. He said the new TIN Registration System would not only improve the efficiency of tax administration system, but would also reduce the cost and challenges associated with tax collection process. JTB Executive Secretary, Mr. Oseni Elamah, said the new registration system had addressed the challenges of multiple registrations previously experienced, adding that it had also strengthened transparency in collection process. Source: Ecomium

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Federal govt clears N33.13bn PAYE liabilities

TAX SERVICES / Tobi Aminu

The Federal Inland Revenue Service has said that the Federal Government has cleared N33.13bn outstanding PAYE tax liabilities owed by Federal Ministries, Departments and Agencies to states from 2002 to 2016, in the South-West region. The chairman, Joint Tax Board, Mr Babatunde Fowler, disclosed this on Thursday when he inaugurated the new National Taxpayer Identification Number registration system in the South-West geopolitical zone. He said the TIN registration system and Consolidated National Taxpayers Database introduced by the JTB would improve the efficiency and output of the entire tax administration process and provide convenience to taxpayers and tax authorities. According to the JTB chairman, the new system will ensure that the taxpayer’s information is available whenever and wherever it is needed. Fowler said the system possessed the capability to integrate with relevant agencies and leverage already captured data, deploy analytics to discover underlying and correlating trends and patterns that could lead to increased Internally Generated Revenue for all tiers of government. These agencies, he added, included the Corporate Affairs Commission, Nigeria Customs Service, Nigeria Immigration Service, Federal Road Safety Corps, Central Bank of Nigeria and the Nigeria Inter-Bank Settlement System, Nigeria Identity Management Commission and Nigerian Communications Commission. He said, “This will significantly reduce the burden of manual taxpayer information management and by extension grossly crash the cost of collection. “The system is designed in such a manner that each taxpayer is assigned a unique and universal Taxpayer Identification Number and it is now possible for any taxpayer to view, retrieve or update their tax profile from anywhere 24/7.” According to him, the new TIN registration system and its consolidated database of individual and corporate taxpayers’ have been designed to form the foundation upon which the nation’s automated tax administration system was built. The JTB boss mentioned some of its recent milestones to include, “The payment by the Federal Government of all outstanding PAYE tax liabilities owed by Federal MDAs to states from 2002 to 2016, totalling N135.8bn; with a total of N33.13bn paid to the states in the South-West geopolitical zone.” In his opening remarks at the event, the Executive Secretary, JTB, Oseni Elamah, said the new system was a web-based solution that offered access to authorised users to initiate TIN request from the comfort of their homes/offices real-time online, verify their tax status and print their TIN certificate. “It is a transparent system that assures timely and accurate collection and recording of basic identification data,” he said Lagos State Governor, Babajide Sanwo-olu, commended the JTB for initiating the new system, which he said would take tax administration to the next level. Source: Punch

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No plan to tax churches, Rivers revenue agency insists

TAX SERVICES / Tobi Aminu

The Rivers State Internal Revenue Service has dismissed claims in some quarters that the state government is planning to tax churches. The Chairman, RIRS, Adoage Norteh, told journalists in Port Harcourt on Thursday that the government had never contemplated collecting taxes from churches. Norteh explained that though he was of the view that workers, who earn monthly salaries from various churches, should pay income taxes, this did not amount to asking churches to pay tax. He explained that by law, churches and mosques were not expected to pay taxes since they were recognised religious organisations. Norteh said, “There are claims in some quarters that the Rivers State Government wants to tax churches. Such claims are erroneous. The Rivers State Government is concerned about the state of our national economy and in its tax policies, it has decided to reduce the tax burden. “The state government is also concerned about the burden of individuals. On Tuesday, I met with the executive of the state Christian Association of Nigeria on this subject. “We are aware that churches, by the law setting them up, are not for profit and to that extent, they are not to be taxed. So, nobody is going to ask the church to be taxed. “All I said was that church workers, who earn incomes, are like other workers anywhere and should pay taxes.” He maintained that the payment of tax had nothing to do with politics or religion, adding that until the law on tax was amended, those qualified to pay were expected to discharge their obligations. “As a policy, the Rivers State Government does not target anybody or group. Tax has nothing to do with politics or religion. Many don’t like to pay tax, but the law says pay tax. Until that law is amended, we are expected to pay tax,” Norteh stressed. On the move to tax the informal sector, the RIRS chairman explained that the agency had not commenced the implementation of the decision, adding that consultation was still going on with stakeholders. Source: Punch

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Simplice, Adedayo, others emerge in CITN new leadership

Tax news / Tobi Aminu

Dame Gladys Simplice, Isaac Adedayo, Samuel Agbeluyi and Innocent Ohagwa have emerged in the new leadership team of the Chartered Institute of Taxation of Nigeria (CITN) with the mandate to pilot its affairs for the next two years. In a statement made available to Next Level in Lagos, the institute said while Simplice would be the leader of the team as the president and chairman of council, Adedayo would serve as vice president, with Agbeluyi and Ohagwa would function as Deputy Vice President and Honourary Treasurer, respectively. Simplice holds BSc Economics from Ahmadu Bello University, Zaria. She started her training in accountancy with A. B. Alabi & Co/Alabi Bakoh Ekundare & Co. (Chartered Accountants and Secretaries). She was thereafter employed as an assistant accountant at a private Fisheries Company, Transcontinental Fisheries Ltd in Lagos. In August 1982, she began her tax career with the Federal Inland Revenue Department, (now Federal Inland Revenue Service) and retired after 27 years of a fulfilling and meritorious service. She was later given a contract appointment as Head, Channels Management of the Corporate Communication Department of FIRS in 2009. Adedayo on the other hand, acquired his professional experience from the Oﬃce of the Auditor General for the Federation (1984-1993) and the ﬁrms of Adetona Isichei & Co (Chartered Accountants) 1993–1999 and Akintola Williams Deloitte (Chartered Accountants) from 1999-2002. He is currently the Head of Practice, Adesina Adedayo & Co. (Chartered Accountants and Tax Practitioners) and the Chief Executive Oﬃcer of AIA Professional Services Limited (Business Restructuring & Organisation Development). He holds a Special Executive Masters in Leadership & Strategy from the Metropolitan School of Business and Management (UK). Also, Agbeluyi has a Higher National Diploma in Accountancy from Yaba College of Technology, Master of Science (Finance) from the Lagos State University and MBA (Marketing) from ESUT Business School, Enugu. He was in the University of Bradford, United Kingdom, where he bagged LLB in Law and graduated with BL from the Nigerian Law School in the 2012. He has worked with Jagal Group of Companies, Reals Group of Companies, Harmony Securities Ltd., among others. He is currently engaged in private practice in the areas of Tax Consultancy, Financial Consulting and Legal Advisory. Agbeluyi is the Principal Consultant, SOA Global Consulting Services. On his part, Ohagwa holds a BSc in Accounting from the University of Lagos and a Master in Business Administration from Bayero University, Kano. He was trained and qualiﬁed as a Chartered Accountant. He worked with then ﬁrm of Akintola Williams & Co Chartered Accountants, Lagos, with Century Merchant Bank Limited and Muktari Dangana & Co. Chartered Accountants, Kano before joining the Federal Inland Revenue Service. He is currently the Director, Special Tax Audit, Federal Inland Revenue Service for Lagos State. Source: Daily trust

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