FCMB Group PLC

Lagos: April 10, 2014 – In demonstration of its commitment to support the nation’s economic development, First City Monument Bank (FCMB), Limited has partnered with the Kano State Government to launch customised Point of Sales (PoS) machines to fast-track internally generated revenue in Fagge Local Government. The PoS machines, which are secure, easy to use and run on customised software, have been distributed to the tax collection staff to ease revenue generation in the area.

Fagge local government is taking the lead in the implementation of the newly passed 2014 Kano State Harmonized Rates and Levies Law that aims at removing all ambiguities hitherto experienced by tax payers by providing them access to track their tax records. The FCMB PoS machines will ensure effective and efficient tax collection system thereby eliminating issues such as multiple taxes and leakages in local council’s revenue collection system.

Handing over the machines to the local government at a ceremony held recently at Fagge town, FCMB’s Zonal Head for the North-west Zone, Mr. Abdullahi Mainasara, explained that the Bank developed the tax collection platform as part of its contributions to the success of the cashless economy and financial inclusion policies of the Central Bank of Nigeria. He added that the, deployment of the PoS machines to motor parks, markets and other collection points, “will help to reduce leakages in tax collections, boost internally generated revenue (IGR), enhance automation, tracking and real time reporting of revenue collection’’.

He said the PoS collections initiative for Fagge LGA, ‘’is also in line with FCMB’s focus on being a strategic partner in helping our customers grow their collections and payments and also build customised solutions where they may not yet exist”. According to him, the Bank has conducted refresher training for revenue collectors and other staff involved in the project on the use and operations of the PoS machines as part of the capacity building components of the partnership.

Mr. Mainasara added that FCMB would ensure that the customized PoS revenue collection initiative, which is being piloted in Fagge local government, is extended to all the 44 local governments in Kano state. He reiterated the commitment of the Bank to further partner with the local and state governments on other initiatives that would impact the lives of individuals, businesses and the society.

Receiving the machines, the Director of Personnel Management, Fagge local government, Alhaji Muhammad Baba Garba, expressed his appreciation to the Bank for developing the customised PoS machines. He urged the tax collectors to make good use of the machine as, “this marks a turning point in the efforts of Fagge local government to boost transparency, accountability and IGR , all with an aim of bettering the lives of our people’’. Alhaji Garba disclosed that the local government has provided jackets and identity cards to the revenue collectors.

 

 

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