President Bola Tinubu has given the nod to Zaccheus Adedeji, appointing him as the new Acting Executive Chairman of the Federal Inland Revenue Service (FIRS).
The announcement conveyed through a statement by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, specifies that Adedeji will serve in an acting capacity for 90 days.
Following this period, he is expected to be confirmed as the substantive Executive Chairman of FIRS for an initial term of four years.
The President also instructed the outgoing FIRS Chairman, Mr. Muhammad Nami, who has been in office since December 2019, to embark on a three-month pre-retirement leave.
This move aligns with Public Service Rule (PSR) 120243 and paves the way for Nami’s official retirement on December 8, 2023.
Adedeji, an accounting first-class graduate from the Obafemi Awolowo University, previously held the position of Special Adviser to the President on Revenue.
He also served as the Oyo State Commissioner of Finance and the Executive Secretary/CEO of the National Sugar Development Council.
A New Dawn for Nigeria’s Revenue Service
The appointment of Zaccheus Adedeji as the Acting Executive Chairman of FIRS signals a new chapter in Nigeria’s revenue collection efforts.
With a rich background in finance and a proven track record in revenue-related roles, Adedeji’s leadership could usher in innovative strategies to boost the nation’s revenue generation.
As a pivotal institution in Nigeria’s economic framework, the FIRS requires a leader with vision, expertise, and the ability to adapt to the evolving global financial landscape.
As the nation grapples with economic challenges, it is imperative for institutions like the FIRS to be helmed by individuals capable of steering the ship in the right direction. The onus now lies on Adedeji to live up to the expectations and drive the FIRS towards greater heights.
Did You Know?
- The Federal Inland Revenue Service (FIRS) is responsible for assessing, collecting, and accounting for tax and other revenues accruing to the Federal Government of Nigeria.
- Nigeria’s tax-to-GDP ratio, which measures the amount of tax collected compared to the country’s GDP, is one of the lowest globally, indicating the potential for increased revenue collection.
- The FIRS introduced electronic tax services (e-services) to facilitate more manageable tax payments and improve compliance among taxpayers.
- In 2020, Nigeria’s non-oil tax collection surpassed oil tax collection for the first time, highlighting the importance of diversifying revenue sources.
- Taxation dates back to ancient civilizations, with the earliest recorded tax system originating in ancient Egypt around 3000 BC.