BREAKING: CBN Gov Cardoso, Edun Arrive House of Reps for Debate on Economy
The ongoing sectoral debate on the economy at the House of Representatives currently features notable figures, including Yemi Cardoso, the Governor of the Central Bank of Nigeria, and Wale Edun, the Minister of Finance.
Also present are Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service (FIRS), and Abubakar Bagudu, the Minister of Budget and National Planning.
This session follows previous sectoral debates, such as the one held last November on the Defence sector.
During his address, FIRS Chairman Adedeji assured lawmakers that the agency has no plans to introduce new taxes or increase existing ones.
He emphasized that FIRS functions primarily as a revenue collector, not a revenue generator, and expressed confidence in surpassing the N19.2 trillion target outlined in the 2024 budget.
Adedeji highlighted challenges faced by the agency, including difficulties in collecting petroleum taxes due to oil theft and production cuts.
Meanwhile, at the time of reporting, the Central Bank Governor was addressing concerns regarding foreign exchange (FX) volatility and liquidity shortages in the market.
(DailyPost)
