Friday, May 2, 2025

Reps direct GTB to remit VAT on Remita from 2015-2022

Must read

Ibrahim Ramalan
Ibrahim Ramalan
Ibrahim Ramalan is a graduate of Mass Communications from the Ahmadu Bello University (ABU) Zaria. With nearly a decade-long, active journalism practice, Mr Ramalan has been able to rise from a cub reporter to the exalted position of an editor; first as Arts Editor with the Blueprint Newspapers before resigning in 2019; second and presently as an Associate Editor of the Daily Nigerian online newspaper. He can be reached via ibroramalan@gmail.com, or www.facebook.com/ibrahim.ramalana, or @McRamalan on Twitter.
- Advertisement -
tiamin rice
tiamin rice

The House of Representatives has asked Guaranty Trust Bank, GTB, to remit Value Added Tax, VAT, on the commission received from Remita between 2015 and 2022 to the Federal Government recovery account.

The Chairman, Public Accounts Committee, PAC, of the lower chamber, Rep. Bamidele Salam (PDP- Osun), gave the directive on Thursday during the ongoing investigation into alleged revenue leakages through REMITA platform.

The committee is also investigating non-compliance with the standard operating procedure and other related matters.

tiamin rice

Remita is a financial technology used by the Federal Government for collection of revenue from agencies of government into the Treasury Single Account, TSA.

READ ALSO:   Dankwambo will remain in PDP irrespective of outcome of party’s primaries - Campaign team

Mr Bamidele’s directive followed a unanimous resolution of the committee after scrutinising the records and listening to the management of the bank.

Earlier, the Executive Director of GTB, Ahmed Liman, said the bank did not remit the VAT for a period of eight years.

whatsApp

He said that the bank believed that Remita had deducted the VAT before sharing commissions with the bank.

“We believe that Remita is saddled with the responsibility of sharing the commission fees between the payment receiving parties.

“In our mind, we think Remita has done the needful before sharing the fees between the parties,” he said.

The executive director said that the bank charged 0.75 per cent on all the payers who used the Remita platform.

READ ALSO:   We’ll adopt Katsina tactics to free kidnapped Kagara schoolboys – Magashi

He added that the bank received N254, 489, 013 from the Accountant General through Remita in 2018.

Other banks whose records are still be scutisined by the committee include Keystone, Zenith Bank, Sterling Bank, Polaris Bank, FCMB, Ecobank and Wema.
NAN

- Advertisement -

More articles

- Advertisement -

Latest article

- Advertisement -