Obtaining tax-deductible status, the former minister's foundation raises N200 million.

 Kemi Adeosun, the former minister of finance of Nigeria, launched the DashMe Foundation, which has declared that the Federal Inland Revenue Service has approved its donations as tax deductible. The certificate was given to the Foundation last Thursday in Abuja, according to a statement from the Foundation. According to the DashMe Foundation, business donors would now be eligible for donation exemption under Section 25(c) of the Companies Income Tax Act. In order to encourage corporate bodies in Nigeria to direct their Corporate Social Responsibilities donations to approved non-governmental organizations, associations, and institutions, this provision permits the deduction of their gifts from their taxable profits. Adeosun noted that the Foundation recently received a similar certificate in the United States while commenting on the development, and he asserted that the approval will support the charity's efforts to receive the same tax-exempt status in the United Kingdom.

"I am thrilled that the FIRS has recognized DashMe Foundation as deserving of this uncommon designation," she stated. We think that knowing that their donations will be fully tax deductible will encourage more corporations to support us. The certificate will considerably increase our ability to generate more money from the business sector and also increase our capability to start new programs that change the lives of Nigeria's most vulnerable children, women, and other underrepresented groups. Tomisin Akinwunmi, the organization's interim chief executive officer, revealed that the Foundation had raised more than N200 million in the previous year through its thrift stores, corporate donation drives, and snacks business. She expressed excitement at the funding opportunities that the charity's new status offer. Akinwunmi continued by mentioning further projects the Foundation had worked on in the states of Borno, Cross River, Imo, Kano, Lagos, Nasarawa, Niger, Ogun, and Osun.

By the end of 2023, the Foundation intended to expand its operations to every region of the nation, she continued. The Foundation's projects include building orphanages in the states of Imo and Ogun, sponsoring orphans in higher education, providing prosthetic limbs and start-up money for amputees, and regularly donating food to several orphanages and camps for internally displaced people. The Foundation was given a non-profit with tax-exempt status by the US government, according to a previous social media  story. 

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