By Sarah NEGEDU
The Federal Capital Territory Administration said it has generated a total of N43.8 billion in Internally Generated Revenue, for the month of January, 2025 alone.
The FCT Internal Revenue Service, FCT-IRS, which collected the revenue on behalf of the FCT Administration, is confident that the FCTA would exceed its revenue target for the year.
Acting Executive Chairman of the FCT-IRS, Michael Ango, told journalists in Abuja on Thursday, that the service collected a total of N262 billion IGR in 2024, thereby exceeding the N250billion targeted for the year.
Ango, who was speaking during the service’s annual sensitisation campaign to mobilise FCT residents for voluntary tax compliance, explained that the figure was N12 billion more than it annual target.
While the performance was impressive, the executive chairman expressed confidence that 2025 would be better, adding that the service has commenced the year very strongly.
Ango said; “The last time I spoke to you, we had given you an overview of what our collection was at that time. The year had not ended. At the end of the year 2024, we collected a total amount of N262 billion, as against a target of N250 billion. While this was good, we believe that it can be better.
“In 2025, we have also started very strong. In the month of January, we collected N43.8 billion. And so far, in the month of February, we are also on track. But you see, the reality about these things is that these monies are not manufactured. They are paid from the taxpayers and the residents of this town.”
While noting that the FCT-IRS believes in voluntary compliance, the Acting Executive Chairman warned that the service would however not hesitate to enforce appropriate sanctions against tax defaulters as mandated by law.
“So for the persons who did not file their returns for 2025, the employers, the law sets a penalty of N500,000 and so we have already written to a number of them.
“We are going to write to every one of them. So the minimum penalty is N500,000, but that is just not it.
“We also have the power to prosecute you. You know, criminal prosecution, we can proceed against the principal officers of the company. We can go against the managing directors, the directors and whoever we deem is responsible for this non-compliance.”
He identified some of the taxes being collected by the FCT-IRS to include the personal income tax, capital gains taxes, stamp duties, property taxes, entertainment tax and fees due to the FCT.
He added that the FCT-IRS works for the entire FCT, explaining that it collects revenue for the FCT Administration for the area councils; for the FCT Secretariats, its departments and agencies.
“So let me reiterate once more. The taxes that we collect in FCT, we collect personal income tax. We collect capital gains taxes from individuals. We collect stamp duties from individuals. We collect property taxes. We collect entertainment tax, which is another tax that we are really focusing on in 2025.
“We also collect several other taxes and fees due to the FCT. And it is also important to clarify that the FCT-IRS works for the entire FCT. What that means is that we are here to collect revenue for the FCT administration, for the area councils, for the secretariats, for the departments, and for the agencies.
“So for the persons who did not file their returns for 2025, the employers, the law sets a penalty of N500,000 and so we have already written to a number of them. We are going to write to every one of them. So the minimum penalty is N500,000, but that is just not it.
“We also have the power to prosecute you. You know, criminal prosecution, we can proceed against the principal officers of the company. We can go against the managing directors, the directors and whoever we deem is responsible for this non-compliance.”
