Former czar of the Federal Inland Revenue Service, Mrs. Ifueko Omoigui Okauru, will on May 18, 2012 receive royal beads and blessings from the Oba of Benin, Omo n’Oba n’Edo Uku Akpolokpolo, Oba Erediauwa.
This is the highest honour the Oba of Benin could ever give a woman as there are no women chiefs in the Edo Kingdom.
Okauru, who served meritoriously as the Executive Chairman of FIRS for two terms of eight years between May 2004 and April 9, 2012, was instrumental to the transformation of the revenue agency, which has become a cash cow to the Federation Account after the Nigerian National Petroleum Corporation.
She was also the Chairman of the Joint Tax Board during her eight years of service and tenaciously supported the use of states inland revenue service in revenue collections as against consultants.
The Oba of Benin had on May 12, 2012 sent emissaries to the families of Okauru and Omoigui to inform them of his intention to bequeath royal beads to Ifueko Omoigui Okauru in recognition of her services to the nation.
The final ceremony has been scheduled for Friday in Benin City from 1pm.
Expected at the conferment are some governors, including the Governor of Edo State, Comrade Adams Oshiomhole, traditional rulers and chiefs, notable dignitaries from the public and private sector, among others.
During her tenure at FIRS, Omoigui-Okauru was instrumental to the development of a Vision 2020:20 for the Nigerian Tax System as well as the development of a harmonised tax reform agenda in October 2004.
Others are the approval and launching of the National Tax Policy by the Federal Executive Council and the National Economic Council, strengthening of the tax policy function of the FIRS, enabling the FIRS to play a leading role along with the Federal Ministry of Finance in developing and implementing tax policy at the federal level of government.
Her tenure also saw to the approval and gazetting of tax regulations aimed at entrenching a self-assessment regime, clarifying companies eligible for tax deductible donations, development of regulations on Transfer Pricing, Taxpayer Identification Number among others, ongoing review of all tax laws including drafting of Petroleum Industry Bill in collaboration with other stakeholders.
Others are the redrafting of the Value Added Tax Act, development of a Consolidated Income Tax Act and the drafting of a comprehensive Tax Administration Code.
She spearheaded the review of Capital Gains Tax Act, Stamp Duties Act, improved Funding of the Service, also entrenched in the FIRSEA 2007, massive re-organisation of the Service, creation of one stop integrated tax offices, increased focus on taxpayer market segments, large taxpayers, Medium tax payers, Micro and Small, Individual and Enterprise Income.
She created Standards and Compliance Group to ensure standards, processes and systems are in place to guide tax administration with the focus on the following functions – Debt management and enforcement, registration, returns and payment processing, creation of nationwide taxpayer advocate to provide avenue for channelling taxpayer complaints and advocate on behalf of the taxpayer.