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Anti Corruption Drive Gains Momentum as President Buhari Signs Three Notable Bills

•Sen Bamidele Lauds Buhari’s political will
The fight against corruption and terrorism in Nigeria has again received a major boost with the signing into law by President Muhammadu Buhari, three important Bills at a brief signing ceremony which took place in the Executive Council Chambers of the Presidential Villa on Thursday in Abuja.
The three Bills are; The Terrorism Act (Amendment) Bill 2022; Money Laundering Act (Amendment) Bill 2022; and Proceeds of Crime Bill 2022.
President Buhari was in company of President of the Senate, Senator Ahmad Lawal and the Chairman of the Senate Committee on Judiciary, Human Rights and Legal Matters, Senator Michael Opeyemi Bamidele, representing Ekiti Central Senatorial District.
Others are; The Chairman Senate Committee on Anti-Corruption; Secretary to the Government of the Federation; Chief of Staff to the President; Attorney General and Minister of Justice; Chairman of EFCC and Chairman of ICPC were also present.
Notable of the event was the warm handshake and commendation given to the Chairman Senate Committee on Judiciary Human Rights and Legal Matters, Distinguished Senator Bamidele. After signing the Bills, Mr. President personally said “well done”.
In his reaction to the development, Senator Michael Opeyemi Bamidele commended the political will of President Muhammadu Buhari fight against corruption and terrorism.
The Ekiti central Senator explained that the Acts will go along way to boost the campaign against corruption and terrorism in the Country.
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NISS hails Oyetola on security intervention, making Osun model of socioeconomic development in Nigeria

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SANWO-OLU ASSURES LAGOSIANS OF ECONOMIC SUSTAINABILITY

Governor Babajide Olusola Sanwo-Olu has assured Lagosians that the State will continue to sustain its enviable status as the fifth largest economy in Africa and also achieve its vision to become Africa’s model megacity as well as a global economic and financial hub that is safe, secure, functional and productive.
Sanwo-Olu gave the assurance at the Year 2022 edition of the Punuka Annual Lecture with the theme:
“Taxation of the Digital Economy: The Challenges and Prospects for the Nigerian Economy”, held recently at Metropolitan Club, Victoria Island.
Governor Sanwo-Olu, represented by the
Commissioner for Finance, Dr. Rabiu Olowo, reaffirmed Lagos State’s commitment to improving the ease of doing business through the development of Small and Medium Scale Enterprises (SMEs) and ensuring overall prosperity for every citizen.
He averred that the Lagos State Government will continuously seek ways of improving revenue generation through a tax system that is modern, efficient and effective, noting that it is in this regard that the present administration considers the lecture timely and relevant.
Sanwo-Olu said the State faces major challenges in taxing income/profit accruing from e-commerce and digital activities as the transactions more often than not transcend borders, while the contracting entities usually do not have a fixed base (tax residence rule) in the State.
Explaining that the trend has made it difficult to trace, track and establish taxing rights over the huge profits made by multinational enterprises and individuals, the Governor said the inability to garner the requisite tax income from such e-commerce businesses is detrimental to revenue collection/generation.
According to him, the emerging trend requires laws to regulate their operations, just as monitoring will also help to establish the economic presence of these entities for tax purposes.
Mr. Governor reiterated that the State is always open to ideas, strategies and ways to effectively and comprehensively improve tax administration processes and procedures in line with emerging trends in the digital economy towards maximising its revenue generation capacity.
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EndSars: Osun govt compensates Police brutality victims, presents cheques of N53,290,000.00
