Agency DG says FIRS partnership critical for development

folarin okunola

April 5, 2016 3:04 PM

The NOTAP boss said the mandates of both agencies are crucial in sustaining the economy of Nigeria, stressing that NOTAP, between 2010 and 2014, saved the nation the sum of NI88.2 billion

Dan-Azumi Mohammed Ibrahim, Acting DG of NOTAP

Media reports reveal Dr. DanAzumi Mohammed Ibrahim, DG of the National Office for Technology Acquisition and Promotion (NOTAP) has said that the partnership between NOTAP and the Federal Inland Revenue Service (FIRS) is critical to the sustainable economic development of Nigeria.

Ibrahim made this statement while leading a delegation of NOTAP Management on a courtesy visit to Mr. Tunde Fowler, executive chairman of FIRS.

The NOTAP boss said the mandates of both agencies are crucial in sustaining the economy of Nigeria, stressing that NOTAP, between 2010 and 2014, saved the nation the sum of NI88.2 billion that would have amounted to capital flight through its intervention in technology transfer.

Ibrahim advocated the setting up of a joint intelligence gathering mechanism to ensure that companies meet up their financial obligations to the Federal Government of Nigeria.

The NOTAP DG also stated that the visit was also to solicit the support of FIRS in an initiative being proposed by the Federal Ministry of Science and Technology which aims to encourage Foreign Direct Investments (FDIs) and technology transfer to Nigerians through offering incentives to the companies.

Receiving the NOTAP team, Mr. Tunde Fowler, Executive Chairman of FIRS, commended the agency for the visit and stressed the need for such partnership especially with the current dwindling oil revenue.

The meeting between officials of both agencies recommended the setting up of a standing committee that will meet from time to time to share knowledge and also expand their partnership to include other regulatory agencies such as the Central Bank of Nigeria (CBN) and the Nigeria Customs Service (NCS).

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