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NNPC destroys 134 Illegal Refineries Recently

A destroyed refinery  By Favour Ifeoluwa & Akinola Ajibade  The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks.  Also, the company said  63 illegal pipeline connections were uncovered during the the weeks .  The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge.  According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation.  It further said that two large boats, which involve
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' Deadline For Waivers, Others Is December 31'


Favour Ifeoluwa & Akinola Ajibade


The Federal Inland Revenue Service(FIRS) says waivers on penalties and interests in overdue taxes and contingents on full principal payments will as from Sunday, December 31, this year not be in operation, its Chairman, Zaccch Adedeji, has said. 

Adedeji, in a statement issued by its Special Adviser, Mr Dare Adekanmbi and made available to the News Mirror, said that the agency imposes penalties and interests as punishment for companies, which fail to fulfil their tax obligations as  stipulated in existing tax laws. 

He, however, the decision of the agency to forgive companies that have piled up penalties and interests was “in recognition of the challenges, that many taxpayers have faced in settling their outstanding tax liabilities.

“In recognition of the challenges that many taxpayers have faced in settling their outstanding tax liabilities, and in line with the commitment of the current government to support businesses, said Adedeji in the statement..

He added that the Federal Inland Revenue Service  approved the following tax concessions for taxpayers with outstanding tax liabilities, in accordance with Federal Inland Revenue Service (Establishment) Act, LFN 2004 as amended: 

Full waiver of penalties on outstanding tax liabilities and Full waiver on interests on outstanding tax liabilities. Taxpayers are advised that the waiver of interest is subject to the full settlement of outstanding principal on or before 31 December 2023.

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