…To Establish a Special Fund for Outfits
By Tordue Salem- Abuja
House of Representatives moves to restructure the military, other armed services, through special funding to tackle insecurity in the country more effectively
The Bill, sponsored by Rep. Babajimi Benson (APC-Lagos) and six others, is entitled: “An Act to Provide Special Financial Support for the Revamping of the Nigerian Armed Forces Personnel and the Provision of Modern Security and Defence Equipment and for Related Matters”.
The sponsors in section 1(1) of the Bill, seek to establish “The Nigerian Armed Forces Support Fund, which shall be the depository of all funds received under this Bill”.
The piece of legislation seeks to also task the Federal Inland Revenue Service with the collection of revenue that will statutorily accrue to the security Fund.
The agencies that will be remitted to the fund, are the Nigerian Sovereign Investment Authority, NSIA, the Ministry of Finance, from the Value Added Tax,…
Source: Vanguard Newspaper