The Federal Government has recovered the sum of N57 billion out of the N5.2 trillion liabilities owed the Federal Inland Revenue Service (FIRS) by various Ministries, Departments and Agencies (MDAs).
The Federal Government has recovered the sum of N57 billion out of the N5.2 trillion liabilities owed the Federal Inland Revenue Service by various Ministries, Departments and Agencies .
He added that the government equally received refunds from companies who failed to deliver on projects for which payment had been made. Udo explained, “Generally, revenue loopholes have been aided by poor information sharing and enforcement. It may interest you to note that the Ministry, through the consolidation efforts of the Debt Analytics and Reporting Application, has been able to aggregate monumental debts of approximately N5.2 trillion.
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