- A fresh auditing report has been released by the office of the Auditor General for the Federation
- In this report, the University of Ilorin was found guilty of failing to remit multiple millions of Naira
- The report confirmed that the university failed to remit Internally Generated Revenue (IGR) and Pay-As-You-Earn (PAYE) taxes
The University of Ilorin in Kwara State has been highlighted in the annual report of the Auditor General for the Federation for failing to remit N1 billion to the Nigerian government's Consolidated Revenue Fund (CRF).
Additionally, the report accuses the university management of deducting taxes from employees' salaries but not forwarding them to the Federal Inland Revenue Service (FIRS).
Specifically, the university deducted 227 million as Pay as You Earn (PAYE) tax from its workers' earnings but did not remit these funds to the government as required.
In December 2023, the National Assembly received the Auditor General's report for 2020, spanning over 500 pages.
According to Premium Times, the report detailed various instances of non-compliance and internal control deficiencies within government Ministries, Departments, and Agencies (MDAs).
UNILORIN found wanting for IGR, PAYE remittance
Among these findings, the report highlighted two issues concerning the University of Ilorin (UNILORIN): failure to remit Internally Generated Revenue (IGR) and Pay-As-You-Earn (PAYE) taxes.
Sulyman Abdulkareem, a Chemical Engineering professor, served as the Vice-Chancellor of UNILORIN from 2017 to 2022.
The university's spokesperson, Kunle Akogun, mentioned that the institution is crafting a public statement regarding the reported violations.
Akogun said:
“You know it affects the former vice-chancellor. So, we are trying to put out something but it’s not ready yet. We are still on it.”
FIRS reacts to planned taxation of content creators
In other news, the Nigerian government has clarified that it has no intention to impose taxes on social media content creators regarding their online income.
The Federal Inland Service (FIRS) refuted claims suggesting implementing a new tax system for the creative sector, emphasising that such reports were inaccurate.
Additionally, FIRS highlighted a significant increase of 54% in tax revenue from the non-oil sector in 2023, reaching approximately N12.37 trillion.
.. Source: Legit.ng
