By PAMELA EBOH, Awka

The Governor of Anambra State, Prof Chukwuma Soludo, has inaugurated the State Board of Internal Revenue (IGR), with a task to increase the state's internal generated revenue

The inauguration which was performed at that Governor's Lodge in Amawbia, with Mr. Richard Madiebo as the Chairman.

Executive Directors of the Board include, Dr. Greg Ugochukwu Ezeilo (Anambra South), Dr. Christian Madubuko (Anambra North), Mr. Benjamin Anierobi Okafor (Anambra Central).

Other members include the Commissioner for Budget and Economic Planning, Mrs Chiamaka Nnake, Commissioner for Finance, Mr. Ifeatu Onejeme, Commissioner for Lands, Prof. Ofornze Amucheazi, Commissioner for Transport, Mrs. Pat Igwebuike.

Others are Mr. Don Adizuo, Secretary/Head of Legal Dept., Mr. Chika Oformma, Head of Assessment and Mrs. Juliet Nwakpudolu, Head of High Net Individual Assessment Dept.

Speaking at the function, Soludo stressed that the Internal Revenue Service is the life-blood of all government operations, noting that if it doesn't work, nothing works.

The Governor said that the result of the IGR are not even close to 50% of what he anticipated to achieve.

According to him, his expectation was that the revenue body would doubled its initial revenue within its first four month.

While regretting that the expectation was not met, he said, "The state government should be making more than 3 billion naira per month. It is yet to happen The 2023 budget is expected to generate 4 billion naira per month.

"Anambra state government is running a deficit on IGR, which is one of the key projections.

"FAAC allocations are unpredictable, but we have an economy with an estimated value of up to 5 trillion naira.

"It is critical to highlight the enormous potentials that exist, as well as the appropriate benchmarks and targets."

"If we have a 5 trillion naira estimate and collect 1%, that is 60 billion naira per year. If we collect 2%, that's 120 billion naira per year, or a minimum of ten billion naira per month on average. If we receive 5% of income, we will have 300 billion naira per year

"As of Monday, we were dangling around 1 billion naira per month, which is extremely low."

"You can see how far we are doing in relation to the potentials that exist."

The governor further said that internal revenue service requires a 180 percent turnaround, saying that the current path being taken will not get the state very far, having tried it for a year.

He said members of this board must get to work right away because there is a lot of work ahead of them.

Soludo added: "We will interface and evaluate performance every three months. It will have a high mortality rate and a three-month life span. If this board fails, we will disband it and create a new one.”

He reeled out the terms of Reference of the Anambra State Board of Internal Revenue to include: "Providing general policy guidelines regarding the functions of the State Internal Revenue Service and supervising implementation of such policies.

"Ensuring the effective and optimum collection of all revenue, including levies and penalties due to the State Government under the relevant Federal and State Laws.

"Doing all such things that may be deemed necessary and expedient for the assessment and collection of all revenue.

"Accounting for all amount so collected in a manner to be prescribed by the Governor.

"Making recommendations where appropriate to the Joint Tax Board on tax policy, tax reform, tax registration, tax treaties and exemption as may be required from time to time.

"Appointing, Promoting, Transferring and imposing discipline on employees of the State Internal Revenue Service.

Others include, "Making Recommendations to the Governor regarding the terms and conditions of employment and remuneration of staff of the Internal Revenue Service.

"Controlling the management of the State Internal Revenue Service on matters of policy, subject to the provisions of any regulations setting up the State Internal Revenue Service.

In his speech, the Chairman of the board, Madiebo, thanked the Governor for the confidence reposed in them and promised that the board will live up to expectation.

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