CITN Joins Force with EFCC to Contain Tax Fraud

Omolabake Fasogbon 

The Chartered Institute of Taxation of Nigeria, CITN, has teamed up with the Economic and Financial Crimes Commission (EFCC) to intensify fight against tax fraud and other tax crimes.

The move became expedient to be able to block tax leakages resulting in $15 billion tax loss annually, according to the Federal Inland Revenue Service (FIRS).

Executive Chairman of EFCC, Abdulrasheed Bawa stated that the commission would deploy more resources to capacity building and advocacy programme, to spread knowledge and check the tax fraud. 

While receiving CITN’s management team at EFCC  headquarters in Abuja recently,  Bawa pledged commitment to the cause, as he urged the institute to draft a Memorandum of Understanding(MOU) that will guide as blueprint for the partnership between the duo.

Bawa seized the occasion to shed more light on Special Control Unit Against Money Laundering, SCUML. 

He appealed to CITN, being a critical stakeholder, to educate its members to be compliant with the laws regulating activities of SCUML.

He explained,  “it is an avenue where all the gate-keepers assisting public and private sector fraudsters to launder their proceeds of crime are now obliged by law to submit those records for analysis and subsequent investigation where needed.”