CITN Partners EFCC To Contain Tax Fraud, Others

Chartered Institute of Taxation of Nigeria, (CITN), is partnering 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).

Abdulrasheed Bawa, executive chairman of EFCC, 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 and urged the institute to draft a Memorandum of Understanding(MOU) that will guide as blueprint for the partnership between the duo.

Bawa used 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.

According to the EFCC Boss “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.”