SO SO SAD AS THE HAMMER HAS FINALLY FALLEN & FOWLER IS A GONER!

Babatunde Fowler 

Till Friday of last week, there was still hope against all hope he could still remain, but even at that it was just a 30 to 70% odd. But we were just still expecting that one way or the other that maybe, just maybe that the FG would look more at his outstanding and award winning records on his beat and that maybe that could sway them in their choice to either retain him on the seat to continue or to do away with him and pick another to occupy his seat. But with the news coming out now, it obvious the latter is their preferred choice.

As the Federal Government has decided to pick another person instead by the name of Muhammad M. Nami to replace Babatunde Fowler as the substantive Executive Chairman of the Federal Inland Revenue Service (FIRS), to jump off where the tax guru has ended from.

So it's a new regime entirely now at the FIRS henceforth and we expect that the new helmsman would bring his own style of management to bear on the agency. Truth be told, FIRS would miss Mr. Babatunde Fowler a whole lot. It was a roller-coaster of a time at the Service while it all lasted, as the brilliant and award winning tax guru who had held sway at the same type of position in Lagos State before and helped to reposition the state of aquatic excellence's revenue collection, where from as low as about 30% compliance it went to more than 200%, injected new life, energy and sass into a service that before he took over wasn't anything special.

When he had gotten on board then, many immediately knew that a new order had come and the results he began to deliver not too long afterwards, even as many tax experts felt then he wasn't qualified enough to be at the helm of affairs at FIRS. But as the net spread wider and wider he began to astonish all and sundry. Now that he has been replaced, one hopes that the new helmsman wouldn't allow the revenue service to go back into the doldrums AGAIN. Mr. Fowler reigned for 4 years from 2015 till Monday, today December 9, 2019 when his tenure elapsed.

Muhammad. M Nami, is a thorough-bred tax consultant, who is a graduate of the famous Ahmadu Bello University, Zaria. The new FIRS executive chairman has over 30 years experience in audit, tax, accounting and management. He is a member of several relevant professional bodies. Mr. Nami's appointment is still subject to the approval of the Senate.

By this appointment PMB has finally given voice to reason by appointing a professional tax person to take charge at the service, so maybe now it's a round peg in a round hole finally. 

VANGUARD NEWSPAPER DOES QUICK RETRACTION & APOLOGIZE AS FEAR OF ROBUSTS LITIGATION & DAMAGE PAYMENT LOOMS

Prof. Yemi Osinbajo, VP, Nigeria 

In order not to fall victim to the threat of a very robust litigation against them for publishing what is tantamount to falsehood, one of Nigeria's biggest newspaper brand - Vanguard has done the most honorable thing possible, by issuing with immediate effect a retraction of one of their stories that had painted the current Vice-president of Nigeria, his excellency, Prof. Yemi Osinbajo in very bad light. The retraction also came with unreserved, public apology too.

See the retraction and apology here-

*RETRACTION:*
*APOLOGY TO VP YEMI OSINBAJO*
*ON SEPTEMBER 25, 2019 7:25 PM* *IN NEWS BY VICTOR OGUNYINKA*

*On our website publication of  Monday, September 23, 2019, we published a story titled “N90 Bn FIRS Election* *Fund: Osinbajo’s problem, not 2023 politics.” We have since discovered that the story lacks factual substance and we hereby retract it in its entirety.*

*We tender our profound apology to Professor Yemi Osinbajo SAN, the Vice President of the Federal Republic of Nigeria on whom the story touches directly the All Progressives Congress, A.P.C.* *and the FIRS for any inconvenience or embarrassment the publication has occasioned them.*

*We hold Professor Osinbajo, S.A.N. in the highest esteem.*

*VICTOR OGUNYINKA*

© 2019 Vanguard Media Limited, NIGERIA.

The story as seen above had pointed fingers at the VP, the APC which is the VP's party & a Government institution - The FIRS, manned by the highly resourceful, Babatunde Fowler. One of the sponsors of the highly damaging story is alleged to be a former chieftain of the APC, Mr. Timi Frank who years back had been removed from the ruling party and had since then become a turncoat and a vociferous enemy of party and those now in charge of it.

Prior to the retraction, the solicitors to the VP, led by the Senior Advocate of Nigeria, Mr. Femi Falana had sent a strongly worded warning to the newspaper to do an immediate retraction and tender an unreserved public apology, or be ready to feel the full weight of the law which could result to them paying a very hefty fine.

The VP a legal luminary himself, who is also known to be pastor had confidently said he was ready to waive his immunity to allow for unfettered investigation into the matter, which had grossly insinuated that he had received slush money prior to the 2015 election. In a Twitter text that was authored in its entirety by him, he had said -

"In the past few days, a spate of reckless and malicious falsehoods have been peddled in the media against me by a group of malicious individuals.

“The defamatory and misleading assertions invented by this clique had mostly been making the social media rounds anonymously.

“I have today instructed the commencement of legal action against two individuals, one Timi Frank and another Katch Ononuju, who have put their names to these odious falsehoods.

“I will waive my constitutional immunity to enable the most robust adjudication of these claims of libel and malicious falsehood.

It was after the above that the robust letter from the chambers of Mr. Femi Falana, award winning legal luminary came out. Full text of which is below-

September 24, 2019

Mr. Eze Anaba,
The Editor,
Vanguard Newspaper,
Apapa, Lagos.

Re: N90 bn FIRS election fund, Osinbajo's problem, not 2023 politics-Frank

We are solicitors to Professor Yemi Osinbanjo SAN, the Vice President of the Federal Republic of Nigeria (hereinafter referred to as “our client”) on whose behalf and instructions we write this letter.

Our client’s attention has been drawn to your highly libelous story entitled “N90 bn FIRS election fund, Osinbanjo’s problem, not 2023 politics-Frank” recklessly published in the Vanguard newspaper edition of September 23, 2019.

In the story credited to one Comrade Timi Frank, your newspaper informed your large readership that our client’s travail “has nothing to  do with 2023 but alleged mismanagement of about N90 Billion Naira (sic) released by the Federal Inland Revenue Inland Service (FIRS) to prosecute the last general elections in favour of the APC”.

The false contextual background and specific untrue and defamatory statement include the following:

"The presidency discovered how Osinbajo allegedly mismanaged N90billion from the Federal Inland Revenue Service (FIRS).

When confronted by the presidency, he confirmed to General Buhari that he indeed allegedly took N90billion from FIRS but it was used for the 2019 presidential election campaign in strategic states of the South-west.

Gen Buhari asked for a breakdown of how the money was spent and he said he gave N11 billion to Lagos state APC leader but when the said national leader and one former APC chairman were invited for an explanation, it was confirmed that Osinbajo gave only N5billion and not N11billion to Lagos state.

'The cabal is asking to know how come they beat PDP in the South-west with less than 60,000 votes if the money was actually spent in the strategic states of the South-west as allegedly claimed.'

The activist insisted that if the information is true, Osinbajo must resign his position as Vice President, adding that such is akin to the characteristics of ‘yahoo boys."

It is clear that the entire publication was a vicious, wicked and reckless ploy to impugn the reputation of our client and lower him in the estimation of right thinking members of the public. Without any scintilla of evidence you deliberately gave the dubious impression that our client colluded with the Federal Inland Revenue Service to divert public funds to the tune of N90 billion to prosecute the 2019 general elections in the South west region.

In view of the foregoing we have our client’s firm instructions to request for the immediate retraction of the offensive and derogatory publication coupled with apology prominently published in your newspaper.

Take notice that if we do not receive your formal retraction and apology within 24 hours of the receipt of this letter, we shall proceed with our client’s instructions to seek legal remedies including aggravated damages in the appropriate High Court.

Yours Sincerely,

FEMI FALANA, SAN

So with the first part now done, with the apology and retraction done by Vanguard, would the duo of Timi Frank & Katch Ononuju who are said to be the authors and sponsors of the blatant falsehood, now tow the honorable path too and admit they had lied with extreme vigor against the VP? 

REASONS WHY BABATUNDE FOWLER DESERVES TO BE THE NEXT CBN GOVERNOR

William Babatunde Fowler 

We had written about the likelihood of the Executive Chairman of the FIRS, who also doubles as the Chairman of Joint Tax Board in the person of Mr. Babatunde Fowler becomimg the next Governor of the Apex Bank in Nigeria a few days back and some had expressed their opinions as per what they thought about it. One particular person we had spoken to raised a point saying anyone that must be in charge at the CBN, must be someone that has, one, a banking background and two must also be someone who has a fantastic grasp, knowledge and understanding of the economy and policies of the country amongst several other things needed. And we quite agree too with all of that and more.

But before we go on, it must be well stated here, that this write up here is strictly our opinion and that it wasn't sponsored by anyone, neither was it engineered by any individual or groups of people. And we know very very well that the constitution of the Federal Republic of Nigeria, allows us to have our own opinion and allows us the opportunity to also express freely that opinion as long as it doesn't infringe on the rights others.

So away from the above. If one of the major requirements needed for anyone to become the next Governor of Nigeria's number 1 Bank is banking experience, then having spent not less than 2 decades at 2 banks rising to the level of a General Manager, before quitting to join the public service then Mr. Fowler is very well qualified then. For 6 years (84 to 90), Mr. Fowler worked at Commercial Bank (Credit Lyonnais) becoming the Branch Manager of the only branch of that Bank outside her HQ. Then for the next 14 years of his life, he worked at Chartered Bank, where he came in as a senior manager, but left as a General Manager of that same bank after achieving so much. Part of these was helping to increase the branch network of Chartered Bank then, from 2 to 11, in just 5 years! Not to talk of loads of other things he did too. He made Chartered Bank of the top 3 banks in the country in terms of revenue collection for the states and Federal Government agencies.

When he left the private sector to move to the public sector by working for Lagos State for all of 9 years till 2015, he led the LIRS to break every records available and conceivable in revenue generation via tax collection. People generally look at it like, there wasn't anything so extraordinary about what he did or was able to achieve. But for one to have led an organisation, an autonomous government parastatal that helped to shoot what was accruing to that government of a state from [3.6billion monthly to 23 billion monthly], that is something that is unbelievably extraordinary at least to us. To even add to that, if it were so so easy like some have come to claim, how come prior to him coming on board the people there before didn't do a quarter of what he now came to do later.

It was because of his exemplary feat and service to Lagos State, that the Federal government thought it best to see if he could come replicate what he did in Lagos at the Federal level too and truth be said, he hasn't failed at all. For it has been garlands upon garlands, achievements upon achievements since he came on board in 2015. Here is a man that his work and feats have spoken for him. Just like the scriptures has said, in Proverbs 18:16 A man's gift makes room for him, and bringeth him before great men. It's not a matter of rhetoric for Mr. William Babatunde Fowler, but of actions.

Just imagine that N5.32 trillion was what the FIRS contributed to the nation in 2018 alone, that's N1.292 trillion more than what they collected in 2017 (which was N3.3 trillion. That amount 5.3 trillion, is the highest ever collected in the history of Nigeria. And it must be well stated that the revenue has been increasing annually since he came on board. It must also be well noted that, this is part of the funds shared by the 3 tiers of Government annually. And for 2019 alone, the target is N8 trillion Naira. So from the foregoing then, If one is good at what he or she does, the person must be well commended and compensated then.

For someone who has done exceptionally well like he has done already at the assignment that was given to him, surpassing all expectations so glaringly, just imagine then what sanity and revolutionary approach he would bring to bear at the apex bank of and when appointed.. Especially as the current Governor's 1 term tenure would soon be coming to an end. To show how exceptionally good Babatunde Fowler is, even the "African Tax Administration Forum", a body that comprises of all the tax czar in the 38 countries of Africa  recognises that he is a guru par excellence, as he is leading them again on a 2nd term of another 2 years till 2020. He was reelected unopposed by all the 26 members that participated in the election.

So it's like putting a round peg in a round hole.  Like we have always said, "who the cap fits, let them wear it".

William Babatunde Fowler is the man for the job. 

WOULD 'TUNDE FOWLER' BECOME THE NEXT CBN GOVERNOR?

Williams Babatunde Fowler 

All things being equal, seems likely that one of the major contenders for the post of the next Governor of highest Bank in Nigeria might most probably be, the boss of the FIRS, Mr. Babatunde Fowler, who by all indices and indication has done exemplarily well.

From all available reports we are getting, we hear that the 'tax guru', who prior to his present assignment and post had been the tax boss in Lagos, which unarguably is Nigeria's number 1 state in all ramifications. Before Mr. Williams Babatunde Fowler became the boss, executive chairman of the Federal Inland Revenue Service (FIRS) and chairman of the Joint Tax Board, he had gallantly shown his exemplary mettle as the boss of the Lagos State Internal Revenue Service, where he had more than helped to triple the revenue from tax in the state and even helped to bring some major reforms and sanity to tax collection, tax administration in the center of excellence. It was because, what he was able to achieve was so glaring for all to see, that he was somewhat conscripted to do same at the Federal level too, and we hear that like the man in charge at the Customs and Excise agency and like the man alao in charge at JAMB both of who have performed exceptionally and excellently, he has not disappointed at all too. 

So with such a record of achievements that's so glaringly visible, many are already speculating that the next big step for him, might be for him to take over from the current Governor of the apex bank-Mr. Godwin Emefiele whose tenure would soon be expiring, June of 2019 to be more precise. Emefiele the forner MD/CEO of Zenith Bank was appointed to his post on June 3, 2014 for an initial 5 years term, which is renewable by the President, if he so wish, 

Though we hear that Mr. Babatunde Fowler is well content to remain at his post as the 'Nigerian tax boss', but he is also not aversed to and would also be favorably disposed to showing his mettle again, if called to a higher office and higher responsibilities as the Governor of the apex bank too. Those who would love him to switch and take up the post are of the good opinion that he is more than eminently qualified for it. Which truly he is. 

Mr. Fowler, 62, he would be clocking 63 come August 12, 2019 has had the privilege to have had an exemplarily private and public services career. After graduating from the University of Wisconsin Whitewater in the US, with a Bachelors in science in Economics and a minor in political science, he went on to get a 2nd degree from the California state university, Los Angeles where he also went on to obtain his MBA too.  He began his career path at Avon Products Inc in the US, before he was employed by Johnson & Johnson in New Jersey, it was from there he was subsequently transferred to Johnson and Johnson, Nigeria afterwards. In 1984 he took a new career path, when he switched from international finance and marketing to embrace banking.

From 1984 till 2004, he dazzled all comers in his new career path, growing steadily from Commercial Bank (Credit Lyonais) where he left as a branch manager after a meritorious 6 years service, heading the only branch of that bank outside her head office. In 1990, he moved to one of the biggest banks then, Chartered Bank as a Senior Manager. He worked there from 1990 till 2004, a good 14 years. From being the head of branch networks, where from just 2 branches he grew the network to 11 in just 5 years. He also became the head of revenue collections for both states and Federal agencies and it was here that he showed he was a guru par excellence. Taking his bank to the position of 3 amongst all the banks in revenue collection. He left the bank as a General Manager in 2004.

Upon leaving the banking world in 2004, he joined the Lagos State Government as permanent secretary/executive chairman of the Lagos State Board of  Internal Revenue. That agency of Government became autonomous in 2006 and Mr. Fowler became the 1st ever CEO of LIRS & the Executive chairman of the Lagos State Board of Internal Revenue. There began the best years of the Lagos State Government.

With what Mr. Fowler introduced, the monthly revenue of Government leaped extraordinarily from  3.6 billion monthly to 6times what it used to be. The improvements were so much that, it made Lagos State the only state in Nigeria that's independent of the monthly financial allocation from the the Federation account revenue. In fact Lagos State is the only state in the federation that generates her own revenue far in excess of what she gets from the Federation account.

Now the model that he introduced in just a state then and made to work for all of 9 years from 2006 till 2015, he has carried again to the Federal now and it has been yielding extraordinary returns & results too, to the admiration of all. Mr  Fowler is an outspoken advocate against over reliance on oil revenue which has been dwindling. 

So from every angle one can look at it, to scrutinize it, the Executive Chairman of the FIRS/Joint Tax Board is more than qualified enough to take over at the Central Bank Nigeria (CBN). 

Would he become the Governor?

Let's wait and see. All we are saying though is, who the cap fits, let him or her wear it.

As an aside, a bird 🐦, had whispered in our ear, saying that the forner Governor of Gombe State, who was also a former Accountant General of the Federation, who in fact had had an 11 years stint at the CBN before in the person of 'Alhaji Ibrahim Hassan Dankwambo', 57, who is in fact not an APC party member, but of the PDP might be interested in the post too🙄🤔. 

STILL ON THE FOWLER & IMOUKHUEDE'S WEDDING. KSA, 112 & TENI DAZZLES AT THE 'SUPER SUNDAY PRIVATE PARTY' IN IKOYI SPONSORED BY AIGBOJE!

ANOTHER ENTERTAINING EXCLUSIVE FROM MAESTRO'S MEDIA.

Couple, Aigbovbioise & Funke

Wale Tinubu, Aliko Dangote & Teni

Lara Rawa 

112

So they had kept all the information about the wedding ceremonies hush-hush for those they didn't want to come, but as your neighborhood good snoop that we are, we were able to know that the engagement/traditional wedding was done on Thursday and that the actual wedding was on Saturday, April 13, 2019 and then the private party of all private parties, Groom's party was on Sunday, April 14, 2019 in Ikoyi, Lagos. Party still ongoing as this report was published.

The duo had apparently decided that it was better to have a so called 'low profile' wedding ceremony in quote than a loud celebrity one with all the attendant noise. What with Aigbovbioise being in his 40s, that's middle or late 40s say about 48 at that and Funke doing this same thing a 2nd time around and clocking about 35. So though devoid of the so called 'expected razzmatazz' like Funke's 1st one that was extremely loud for a purpose, like Nigeria's own version of Princess Diana got married then, it was still class and distinction all the way. But we heard that to enter the Oriental Hotel, Lagos venue of the Saturday part of the event was like a camel 🐫 passing through the eye of the needle! The security to say the least was 'unbecoming'. That party from what we heard was more of a Fowler thing. Though if these series of ceremonies are what people generally refers to as 'low profile', then it beats hands down, many of the very loud ones then without a shadow of doubt.

This one & by that we mean the couple like you all already know very well, is good money jam super good money ooooo, so equation is balance all the way as it is 1-1 scoring draw. This dude here, by name Aigbovbioise is not in any way reliant on daddy's funds at all, you can easily follow his trail and see that the University of Buckingham graduate has risen gradually to the pinnacle of his career and his still growing. Funke's dad on the other hand, is probably one of Nigeria’s 'most liquid' Nigerians alive, as he heads the FIRS-that is, 'Federal Inland Revenue Service', one of the cash cows of the Federal Government, a station where he has performed magic, having left the LIRS-'Lagos Inland Revenue Service', where he had shown great mettle at delivering very well on the job. Funke on her own is quite a successful Fashion/lifestyle Entrepreneur. "Aig the younger" like we prefer to call Aigbovbioise (he is the last born of 4 kids of Pa Frank Aig-Imoukhuede the renowned veteran journalist, poet & playwright), was named after his 'paternal grand-dad' of yore, the Late Pa Isaac 'Aigbovbioise' Imoukhuede, who had passed on since May 1, 1938 long before any of Pa Frank's 4 kids-'Erekpitan, Aigboje, Oluwakemi & Aigbovbioise' were born and on his own, Aigbovbioise is a super okay dude by all standards, but he is also backed by an older brother, the 2nd born child & 1st son at that, who is a super multimillionaire in good currency by name- Aigboje, the 'former CEO of one of Nigeria’s top 5 banks in terms of all ramifications, that's talking about Access Bank Plc and who was also the former President of the 'Nigerian Stock Exchange' and he is currently the chairman of 'Coronation Capitals', the owners of the 'Coronation Group', owners of 'Coronation Merchant Bank', 'Wapic Insurance Plc' & other investments. The elder Aig's (AIG the elder) London home/mansion in a very tush area is said to be a statement in absolute class (that's a story for another day though). And then also Aig's 2nd sister 'Oluwakemi Balogun', infact his immediate elder sister, a business tycoon, is the wife of 'Bolaji Balogun', the MD/CEO of 'Chapel Hill Denham', one of 'Nigeria’s top 5 financial advisory services firm', who is the gentleman 1st son of the 'incredibly stylish banker of note and head or leader of the Omoobas (princes) in Ijebu', the one and only, "Otunba Olasubomi Balogun". So though Funke is coming in big, her man is also very well sat too in all ways & manners.

This Sunday Ikoyi party was an epic one by all standards. It held somewhere in Ikoyi, more accurately at a private property owned by Aigboje on Gerrard Road, Ikoyi Lagos and the color of choice or of the day was 'Cobalt-Blue', which we heard reliably was supplied by none other than Temilade Remi-Adeoye of 'Kwamule Fabrics', who since she came on the scene has become the go to for the best fabrics for all occasions and events in Nigeria. Her store we hear is the mecca as people storm the place to source for exquisite fabrics of distinction for their parties, events & occasions.

According to our findings, this party was more of the Imoukhuede's thing unlike that of Saturday. It was the groom's after wedding party packaged and sponsored by Aigboje Aig-Imoukhuede, the elder brother of the groom. Though a private party, it had KSA, yes that's the King himself on the bandstand performing and dazzling all. He always still does his thing, when it is the highest caliber of society that's involved and this combo the Imoukhuede's and Fowler's perfectly fits into that mold. When an Aliko Dangote, a Jide Sanwoolu, Prince Dapo Abiodun  Wale Tinubu et al are at a party how more upscale can a party be? But it just wasn't KSA on the bandstand though, there was also that American singing group of yore by name '112' that were also there to entertain too to the delight of all. The quartet wore a white native attire of Buba & Sokoto to perform a medley of their hits. Though much more mature now, they still gave a great account of themselves, singing and at the same time stepping to the beats in tandem. They used to be one of the best R&B group then in the early 2000s. Then also there to perform was the rave of the moment, the super talented Teni, this gal Don blow ooooo ooo, we especially loved how she sang that her popular song where she mentioned Dangote, "but my papa no be Dangote" to the richest black man in the world, who laughed in delight, as the smart gal changed the lyrics claiming Dangote now has a new daughter!

More pictures and story after the break.

SAYYU DANTATA'S MRS HQ SEALED OVER TAX DEFAULT

It is very obvious that things are not as they used to be no more. Gone are those days when you can call the bluff of certain Government organisation and get away with it without paying dearly for it. At least with this example now, all others would no who is the boss!

As we speak, the world's richest blackman and African on the continent, Aliko Dangote's younger brother Sayyu Dantata's brand has plenty of explaination to do as we speak.

The offence? Not necessarily an offence like that and it's even not on a personal basis, but it has to do with his business concern MRS which has been accused of tax evasion. The famous brand has been accused of tax default. And for not responding to the query from owing a humongous ₦497million Naira the brand's HQ has been sealed.

Though it was said that the accountant in concert with the head of security of the Apapa based company had tried to prevent the FIRS team lead by Anita Erinne from doing their job, that couldn't stop the men of the FIRS, as they still sealed the MRS facilities.

Knowing the super liquid Sayyu Dantata very well that amount from the FIRS led by Mr. Tunde Fowler is sure a chicken feed, so we know for sure that it would only take a few hours for the communication breakdown to be resolved very amicably. How much is half a billion for MRS, which is one of the biggest players in the downstream sector of the economy? At most that translates to $1.5million dollars, the cost of a super wrist watch or a house!

Though MRS is claiming to have sorted out the payment, FIRS claims the contrary, so both parties would soon resolve their differences and we would soon get a statement stating just that.