Oyo govt. embraces fourth industrial revolution, begins tax collection with mobile app, ATM cards - Mega Icon Magazine
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Oyo govt. embraces fourth industrial revolution, begins tax collection with mobile app, ATM cards

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As the world  stands on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another, Oyo state government has  disclosed that it has concluded plans to begin the collection of informal sector tax with the use of mobile apps.

Also, the government stated that the annual collection of tax, especially among traders, markets and artisans takes immediate effect.

The government made the disclosure, on Tuesday through the Executive Chairman, Oyo State Internal Revenue Service, Aremo John Adeleke during a sensitisation tour and meeting of market leaders from 14 major markets across Ibadan at the Ogunpa market, Ibadan North West Local Government, Ogunpa, Ibadan.

Some of the markets whose leaders were present at the meeting include, Eleyele, Ifeleyele market, Dugbe market, Agbaje market amongst others.

Speaking on the purpose of the meeting, Adeleke said the meeting is imperative in view of the need to encourage traders, artisans, shop owners, market men and women, among others to continue to be awake to their civic responsibilities as a way of supporting the government.

Represented by the Director of Other Taxes, Mr Idowu Alao, the OYSIRS boss said the government has refused to increase the tax payable by the traders, market men and women, artisans, shop owners and all others operating in the informal sector because of its understanding of the current economic situation in the country.

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He assured the traders that the government is doing a lot to ensure business prosperity and economic development in the state, noting that in no long time, the effects will translate to improved sales which will be felt by the traders.

In her brief remarks while educating the traders on the new modalities being deployed for the new tax collection regime, the state tax manager in charge of informal sector, Mrs Yetunde Awotona said the state government has not collected any tax from the traders since January, but have now perfected a means of well coordinated approach through the use of tax agents with the aid of tax collection application pre-installed on their mobile phones.

She explained that, the traders and people in the informal sector have been cooperative over the years in the payment of the taxes but that the OYSIRS deemed it fit to embark on the approach as a means of strengthening the bond of cooperation between the government and the operators in the informal sector.

Awotona added that the new modality would also entail the use of tax agent offices located inside the various markets across the state to make tax payment easier and more convenient for the traders.

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She assured the traders that the technological innovations was introduced into the collection as an improvement on the initial complains of the people and have a better coordinated and seamless approach to ensure that all tax paid gets to government coffers.

In their separate remarks during the meeting, the traders appealed to Governor Makinde to give them a tax waiver for the remaining months of the current year.

They. however assured the government of their cooperation and support in the payment of taxes and environmental management.

Highpoint of the meeting was the display of the Point of Sales (POS) machines and other equipment that would be deployed for tax collection through the use of ATM cards

The traders also used the opportunity of the meeting to ask various questions to which the officials of the revenue service provided satisfactory responses.

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Osun Economic Summit: FG to Site Specialised Agricultural Market In Ijebu – Jesa

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The Federal Government has expressed its readiness to site a specialised agricultural produce and international fish market in Ijebu –Jesa,  Oriade Local Government Area of Osun.

The Osun state Commissioner for Agriculture and Food Security, Mr Adedayo Adewole disclosed this at a meeting of the Project Implementation Committee (PIC) in Osogbo, the state capital.

Adedayo explained that the Federal Ministry of Trade and Investment, in conjunction with Agricultural Traders Welfare Association (ATWA), would be executing the project in the state.

According to the Commissioner, the project is a fallout of the economic and investment summit organised by the state government in November 2019 and targeted at boosting the economy of the state.

He said apart from the fact that the project upon implementation would boost the economy of Osun, it would also boost the business of fish farmers and marketers in the state and its environs .

Earlier, the representative of the PIC, Dr Joseph Okeke, lauded the state government for promoting discussion of the economic transformation of the state and Nigeria in general through agriculture and agricultural value chain.

Okeke, who also doubles as the National President of ATWA, noted that the project was targeted towards economic diversification by the Federal Government in the area of specialised agricultural market.

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“It is also geared toward job creation, enhancing economic activities and facilitating exportation of Nigerian commodities”, he added.

The committee, comprising of the project facilitator, Dr Gabriel Eniola, Osun Fish Farmers Association Chairman, Mr Tope Ogundipe and Osun Commissioner for Lands and Physical Planning, Mr Nathaniel Agunbiade among others later inspected the site.

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Adewale Raji gets another term as Odu’a Investment GMD

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Odu’a Investments Limited on Tuesday reappointed its Group Managing Director/Chief Executive Officer (GMD/CEO), Mr Adewale Raji for another term.

Contained in a statement issued by the company, Mr Raji’s reappointment followed an endorsement of his performance by the international auditing and management consultancy firm, KPMG, engaged by the six owner states of Osun, Ondo, Oyo, Ogun, Ekiti and Lagos to evaluate his performance in the last five years.

With his fresh appointment, Raji will now lead the conglomerate for another five years.

It would be recalled that his  five-year tenure had expired on May 31, 2019 but the shareholders granted him a six-month extension to allow KPMG assess  his performance. However, following a satisfactory evaluation, the shareholders at a meeting held on October 28, 2019 renewed his appointment for another term of five years with effect from June 1, 2019 and the Board also ratified the appointment.

No doubt, Raji’s first tenure witnessed significant growth in the Profit Before Tax from N378m and N495m in 2013 to N849m and N1.061b in 2018 for the holding company and the group respectively. In the same five-year period, a gross dividend of N1.208b was paid out to shareholders which is a record of consecutive dividend payout in the history of the company.

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His team initiated new businesses, particularly in agric-business and processing and the company was better managed with a very high sense of accountability and transparency while upholding the principles of corporate governance and safeguarding the interest of shareholders.

 

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30 Shops In Gbagi Marked For Demolition

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At least about 20 to 30 shops housed by Bola Ige International Business Complex, Gbagi, Ibadan have been marked for demolition by the Oyo state government.

The government said as part of its efforts  in restoring the popular market back to international standard, the identified shops which it described as illegally built would be demolished.

The state  commissioner for Commerce, Trade and Investment,  Hon. Adeniyi Adebisi, informed that the action became necessary in restoring Bola Ige International Business Complex, Gbagi, Ibadan back to international standard as provided in the master plan of the market so as to create a conducive environment for businesses within the State to thrive.

The Commissioner further added that the task force committee set up by Governor Seyi Makinde to restructure the business complex has submitted its report and implementation would follow in due course.

He, however  assured the market men and women that the state government remained committed to providing them the basic facilities that would promote the economic activities in the market.

 

 

 

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