The Federal Capital Territory Internal Revenue Service, FCT-IRS, has announced that it generated a total of N252.83 billion in internally generated revenue in 2024.
The acting executive chairman of the service, Michael Ango, made this known at the 2024 end-of-year media parley on Thursday in Abuja.
Ango stated that the amount, collected between January and December 18, represents 101 per cent of the N250.2 billion target for the year.
According to him, the figure also represents a 19.8 per cent increase from the N211.1 billion collected in 2023.
He attributed the success to the dedication of the service’s staff and management, as well as the support from the FCT secretariat, departments and agencies, FCT area councils, and other government bodies.
The acting chairman also commended the support of the Senate and House committees on FCT.
Ango explained that since his appointment in August 2023, he had implemented certain measures to improve the service’s capacity to fulfil its mandate.
He highlighted one of the changes as the review and expansion of the organisation’s structure, which included the creation of new departments.
He identified these departments as Audit, Debt Management, and Enforcement, as well as the expansion of the Tax Operations Department by taxpayer type.
This restructuring, according to him, led to the creation of two new directorates. One focuses on government ministries, departments, and agencies, corporate entities, and international organisations.
Ango added that the other directorate focuses on individuals, enterprises, and partnerships.
“We also created a separate Learning and Development Department, which focuses on capacity building and training for our employees and other stakeholders.
“We established a High Net-Worth Individuals, HNIs, Unit, dedicated to the taxation of HNIs in Abuja.
“FCT-IRS has further strengthened its collaboration with the Nigerian Financial Intelligence Unit to obtain active intelligence on HNIs in Abuja, with the aim of improving tax compliance and collection,” he said.
FCT-IRS rakes in N253bn in 2024
