OGE Seeks Multifaceted Approach to Tackle Tax-related Corruption

Omolabake Fasogbon

OGE Business School (OGE-BS) has advised the federal government to explore multifaceted approach in tackling tax-related infractions, said to have ripped the economy hugely. 

According to a report by HEDA Resource Centre, over N100 billion is being lost to tax-related offences in Nigeria every year, a development considered detrimental to the economy. 

Speaking at OGE-BS training for fraud examiners recently, the Head, Strategic Tax and Compliance Unit at Dangote Industries Ltd, Dr. Titilayo Fowokan, identified tax-related corruption as tax evasion, fraudulent tax schemes, money laundering through tax evasion, income concealment and false statements of tax return. 

In addressing the scourge to achieve economic growth, she opined that collaboration among tax authorities, law enforcement agencies, financial institutions and tax professionals. 

Also Speaking, Lead facilitator and Founder, OGE- BS, Prof. Godwin Oyedokun, stressed the need for a knowledge of fraud detection, achievable through skills update to enable investigators to be ahead and abreast of criminal behavior. 

On detection too, Oyedokun said fraud examiners must be familiar with tools of data analytics and technology to identify patterns, trends and anomalies in tax payer data. 

“As we navigate increasingly interconnected global economy, financial crimes have become more complex and pervasive. The imperative of understanding and detecting these crimes cannot be overstated in the pursuit of a fair, transparent and equitable tax system. 

“By detecting and addressing tax crimes, authority can ensure that revenues are collected fairly and used efficiently to benefit society as a whole”, he convinced. 

On his part, Guest Lecturer, Dr.  Lawal Babatunde tasked fraud examiners on in depth research to develop their expertise and enhance integrity of their efforts.