Zacch Adedeji: Tackling Tax Evasion and Illicit Financial Flows, By Aderonke Atoyebi

Zacch Adedeji: Tackling tax evasion and illicit financial flows, By Aderonke Atoyebi

At the “National Conference on Illicit Financial Flows” held in Abuja on 22 July, Mr Zacch Adedeji, executive chairman, Federal Inland Revenue Service, spoke directly to the issue. He outlined how Nigeria’s tax system is being undermined by mispriced trade, profit shifting, aggressive avoidance schemes, and financial outflows disguised through legal and accounting loopholes. These […] The post Zacch Adedeji: Tackling tax evasion and illicit fina…

Fintech, Politicians Aid Illicit Financial Flows-NFIU - InsideBusiness - Business News in Nigeria

The lack of due diligence protocols by Fintech and the creation of multiple wallets with fake identities have allowed proceeds of crime to bypass regulators and tax agencies undetected.   These avenues, which criminals and politicians or Politically Exposed Persons (PEPs have exploited, the Nigerian Financial Intelligence Unit (NFIU) said, have aided illicit financial flows (IFFs) to flourish.   Speaking at the just-concluded IFF National Confer…