Court bars finance minister from amending taxes, levies act

Court bars finance minister from amending taxes, levies act

- The Federal High Court in Abuja has reacted to the attempt by the finance minister, Zainab Ahmed, to amend the tax and levy act

- The court ruled that only the National Assembly has the constitutional power to carry out such a function

- The case was between the ministry and the registered trustees of hotel owners and managers association

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The power of the minister of finance, budget and national planning, Zainab Ahmed, to amend the Taxes and Levies Act of 2004 has been voided by the Federal High Court in Abuja.

The decision of the court made on Wednesday, June 10, came after an application which sought the judicial body to restrain the move was filed by the registered trustees of hotel owners and managers association, The Nation reports.

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Court bars finance minister from amending taxes, levies act

The Federal High Court in Abuja has reacted to the attempt by the finance minister, Zainab Ahmed, to amend the tax and ley act.
Source: UGC

Upholding the prayer of the association, the court, presided over by Justice Ayokunle Faji, ruled that only the National Assembly has the constitutional power to amend laws in the country.

The court, therefore, made it plain that any purported amendment is null, void and unconstitutional, if it is not carried out by the legislative arm of the federal government.

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Meanwhile, Legit.ng reported that Ahmed had revealed the reason the International Monetary Fund (IMF) excluded Nigeria from the recently announced debt relief for 25 poor nations.

According to the minister, Nigeria had no outstanding debt obligation with the organization. Going further, she said Nigeria has however applied for new IMF financing and this is currently under consideration.

"Since Nigeria is not indebted to the IMF, there is no outstanding debt obligation to be forgiven. Nigeria’s application for new IMF financing is under consideration and receiving attention. The new application is for financing under the Rapid Financing Initiative (RFI).

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"Nigeria is entitled to access up to 100% of its quota under the Rapid Financing Initiative (RFI). Our current financial position at the IMF is public information on the International Monetary Fund website," she disclosed this in a tweet.

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Source: Legit Nigeria

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