Don Canvasses Jail Term for Tax Defaulters in Nigeria

Hammed Shittu in Ilorin

A University don with University of Ilorin, Kwara state, Professor Saka Muhammed Olokooba has said that, the continue evasion of taxes among taxable adults and corporate bodies has forced the Nigerian government to result to both internal and external borrowing in financing annual budget.

Olokooba therefore canvassed for jail terms   to any one caught evading payment of taxes in the country.

Delivering the 249th inaugural lecture of the institution with theme, “Withhold Ceasar’s Right and Then Cry the Beloved Country,” Olokooba stated that, “the evasion of these taxes in Nigeria have made the country to indebted to the International Monetary Fund (IMF), Paris Club, China and other countries of the world.”

He said that, “The Debt Management Office in Nigeria has also revealed that, the Nigeria’s total debt for the period ending March 31, 2023 has risen to N49.85 trillion ($108.30 billion from N46.25 trillion as of December 21st 2022. Tax evasion constitutes the main clog in the non-workability of the Nigerian tax system. This problem is becoming worrisome and despite a series of efforts to curb or eliminate it and it is disheartening to note that the problem persists.”