FIRS, Timi Frank in hot verbal exchange over alleged N90 billion election funds

 

• Allegation attempt to smear FIRS, Osinbajo – FIRS
• I stand by my statement – Frank

 

BY OUR EDITOR

The Federal Inland Revenue Service (FIRS) has denied vehemently allegation by a former deputy national publicity secretary of APC, Comrade Timi Frank, that it released a whopping N90 billion through Vice President Prof Yemi Osinbajo, to fund APC campaign in the last election.

The tax agency said it was neither plausible nor did it make any sense that FIRS will commit its resources to a phantom campaign of N90 billion as suggested by Frank and threatened to sue him if he did not apologise.

Wahab Gbadamosi, FIRS’ director of information, who dismissed the allegation in a statement on Monday, said the agency had not received up to N100 billion, per annum, as Cost of Collection from the Federation Accounts Allocation Committee (FAAC) and subsequently accused the former APC spokesman of wicked attempt to smear the image of the company.

“The FIRS wishes to state as follows: That the entire allegation being spread by one Frank Timi that the Federal Inland Revenue Service spent N90 billion to fund the last election is mendacious, wicked, malicious and a calculated attempt to smear the image of the Service and that of his Excellency, the Vice President, Prof. Yemi Osinbajo. This campaign of calumny and vilifying false claims are entire, libellous, unfounded in fact, irresponsible and a brazen assault on the integrity of the Service as a responsible and accountable organisation and demonstrates an abysmal ignorance of the budgetary and expenditure process of the FIRS.

“That in the last four years since Mr Tunde Fowler has supervised operations at the FIRS, the agency had not received up to N100 billion, per annum, as Cost of Collection from the Federation Accounts Allocation Committee, FAAC. FAAC is a public institution, whose records are open to the public.

“That FIRS Budget and expenditure approval processes pass through the Budget Office and the Ministry of Finance before such is presented to the National Assembly for Appropriation into Law.

The agency subsequently demanded an apology from Frank, threatening to sue him for libel if he ended up not acceding to its request within 24 hours.

Meanwhile, Comrade Frank has described the FIRS statement as a puerile attempt to sweep the main issues in his public statement under the carpet.

Said he: “I read the statement by the Federal Inland Revenue Service and I am rather disappointed at their intellectual laziness.

“Who is the FIRS trying to fool by claiming that their annual subvention is not up to a N100 billion? That is an unintelligent attempt to fool the public.

“The FIRS, like the Nigerian National Petroleum Corporation, Central Bank of Nigeria and the Securities and Exchange Commission are revenue generating agencies of the Federal Government that do not depend on budgetary subventions.

“These agencies are able to appropriate huge funds from the monies they generate for their use.”

He urged the agency to come clean and tell Nigerians the reason for the discrepancies in their records of tax collection, as pointed out in a query to Mr Tunde Fowler by the President’s Chief of Staff, Abba Kyari.

“For example, on January 7, 2019, the Federal Inland Revenue Service announced that it had broken Nigeria’s all-time revenue generation record, by generating N5.3trillion in 2018.

“However, on 18th August, 2019, the FIRS’ boss was queried for poor performance and under remittances to the Federation Account by the Chief of Staff to General Muhammadu Buhari, Mr Abba Kyari.

“Kyari’s letter to the FIRS’s Boss, Tunde Fowler, was to the intent that the reported ‘record breaking’ revenue the agency claimed to have generated was in reality not up to the revenues generated in the previous People’s Democratic Party-led administration of President Goodluck Jonathan.

“The query, which was widely published in all newspapers and online media channels, was as a result of the N90 billion that the FIRS illegally funneled to Vice President Yemi Osinbajo for the 2019 elections which led to the shortfall.

“The FIRS should bury their head in the mud and apologise to Nigerians for aiding and abetting corruption.

“I stand by my statement and I am not going to tender any apology to FIRS. They are the ones to apologise to Nigerians for illegally spending taxpayers’ money on elections. I cannot be intimidated by threats. I am prepared to meet them in court,” he said assuredly.