FG ANNOUNCES TEMPORARY SUSPENSION OF ANNUAL DUES ON PUBLIC INTEREST ENTERPRISES BY THE FRCN 30-03-25
By Sadiq Aminu. The Federal Government has announced a temporary suspension of annual dues on public interest enterprises by the Financial Reporting Council of Nigeria.
The Minister of Trade, and Investment, Federal Ministry of Industry Trade and Investment Dr.Jumoke Oduwole made the announcement in Abuja at a Ministerial Consultative Meeting on the Financial Reporting Council Annual Dues for Public Interest Enterprises.
Dr. ODUWOLE said the move was due to objections by stakeholders in the private sector and the timeline for the suspension would not exceed 60 days.
“The private sectors have asked from range of two to three months to a range of indefinite suspension, we are not going to do that at the most sixty days. We are going to set up a technical working group comprised of FRCN, Organised sector representative.
The Minister gave an assurance that President Bola Tinubu was concerned about the yearnings of stakeholders in the private sector and Nigerians at large to ensure everyone was carried along in this dispensation
The president has been briefed ahead and he said, you know we are a listening government and we want the private sector to be comfortable if we want the economy to thrive. This is what we are going to do empirical work. We have already looked at global practices on each side.andwe come up with the best thing for Nigeria . We make the proposition a and wherever we land, it will still go back to the National Assembly.
The Chairman, Organised Private Sector, Dele Oye, urged the Federal Government to suspend the implementation of the levy because it could add to the burden of multiple taxes businesses were facing in the country.