Digital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Facebook X (Twitter) Instagram
Trending
  • AMCON Sells 34% Stake In Unity Bank To Providus, Strengthening Merger Deal
  • Nigerian Airports Go Cashless As FAAN Partners Paystack To Launch Contactless Payments
  • ‘AI In Nigeria’ Announces InnovateAI Lagos 2026
  • Borderless TEK Expands Free Training To Empower Adults Transitioning Into Tech
  • Nigeria’s Invoice Gap: Why Late Payments Are Stalling Small Businesses And What Can Be Done About It
  • Kano State Government To Host Cycling Kano Event In December
  • Nigerian-Owned Radease, 4 Other African Startups Named Winners Of Llama Impact Grant
  • Cybercrime Case Against Senator Natasha: Court To First Hear Jurisdiction Objection
Facebook X (Twitter) Instagram
Digital Times NigeriaDigital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Digital Times Nigeria
Home » Illicit Funds: FIRS Announces 35 New Tax Audit Units
Business

Illicit Funds: FIRS Announces 35 New Tax Audit Units

mmBy Rommy Imah12 January 2021No Comments2 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
NAMI NEW
Share
Facebook Twitter LinkedIn Pinterest Telegram Email WhatsApp

The Federal Inland Revenue Service (FIRS) said it has created 35 new Tax Audit Units to combat illicit financial flow across the country.

Muhammad Nami, the FIRS Chairman, made the announcement in a statement signed by the Director, Communications and Liaison Department, Mr Abdullahi Ahmad in Abuja on Monday.

He also disclosed that Nigeria lost $178 billion through tax evasion of foreign multinationals between 2007 and 2017.

FIRS said that the creation of the units was also in a bid to improve tax compliance in the country, citing the Chairman’s statements at a workshop in Abuja on Monday titled “Effective Audit of Multinational Corporations for Domestic Revenue Mobilisation in Nigeria.”

Nami who noted that a few multinational firms were leading in tax compliance in Nigeria, however, stated that a lot of multinationals are not paying their fair share of tax and don’t even do it voluntarily.

He disclosed that Nigeria lost $178 billion ( N5.4 trillion) through tax evasion of Multinationals operating in Nigeria, citing a 2014 report by High-Level Panel on Illicit Financial Flows from Africa.

Nami stated that Nigeria accounts for 30.5% of illicit financial flows in Africa.

“At the FIRS, we are paying greater attention to tax audit in general and Transfer Pricing audit in particular in order to improve the level of tax compliance in the country,” Nami said.

“As a result, in the last one year, we have created more than 35 additional Tax Audit Units and deployed experienced and capable staff to take charge of these offices.”

 

READ ALSO  Verizon Sells Yahoo, AOL Businesses To Apollo For $5billion
#35 #FIRS #Illicit Funds #Nami #New Tax Audit Units
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleSamsung Plans More Bespoke Electronics For Younger Customers
Next Article CAC Warns Companies To Revalidate Their Accounts Or Face Sanctions
mm
Rommy Imah
  • Website

Rommy Imah is Founder/Editor of Digital Times Nigeria (www.digitaltimesng.com). He has been in active journalism in over two decades with a bias for technology and business reporting. He is particularly passionate about technology and how it can be used to transform human life, businesses and services.

Related Posts

AMCON Sells 34% Stake In Unity Bank To Providus, Strengthening Merger Deal

26 September 2025

Nigerian Airports Go Cashless As FAAN Partners Paystack To Launch Contactless Payments

26 September 2025

‘AI In Nigeria’ Announces InnovateAI Lagos 2026

25 September 2025

Borderless TEK Expands Free Training To Empower Adults Transitioning Into Tech

25 September 2025

Teachers Applaud NITDA’s DL4ALL Programme As 3,600 Undergo Training

22 September 2025

Applications Open For Access Bank’s Womenpreneur Pitch-A-Ton 2025

22 September 2025

Comments are closed.

Categories
About
About

Digital Times Nigeria (www.digitaltimesng.com) is an online technology publication of Digital Times Media Services.

Facebook X (Twitter) Instagram
Latest Posts

AMCON Sells 34% Stake In Unity Bank To Providus, Strengthening Merger Deal

26 September 2025

Nigerian Airports Go Cashless As FAAN Partners Paystack To Launch Contactless Payments

26 September 2025

‘AI In Nigeria’ Announces InnovateAI Lagos 2026

25 September 2025
Popular Posts

Building Explainable AI (XAI) Dashboards For Non-Technical Stakeholders

2 May 2022

Building Ethical AI Starts With People: How Gabriel Ayodele Is Engineering Trust Through Mentorship

8 January 2024

Gabriel Tosin Ayodele: Leading AI-Powered Innovation In Web3

8 November 2022
© 2025 Digital Times NG.
  • Advert Rate
  • Terms of Use
  • Advertisement
  • Private Policy
  • Contact Us

Type above and press Enter to search. Press Esc to cancel.