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Home Business News

FG is currently auditing tax records of 800,000 public firms, contractors

Chris Pemu by Chris Pemu
November 6, 2017
in Business News
Dear Adeosun, please drop the dollar treasury bills refinancing idea, do this instead.

Minister of Finance: Kemi Adeosun

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The Federal Ministry of Finance is currently auditing tax records of over 800,000 companies, including some government contractors

This was made known by the Minister of Finance, Kemi Adeosun on Sunday in an article which she said such affected companies included those identified as having never paid taxes before.

 “This is an unprecedented initiative that entails cooperation between Federal and state governments,” .

According to Adeosun, the finance ministry has also commenced a data-base project to create accurate profiles of individuals and companies liable to pay taxes in the country.

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The minister explained that the project combines data from the various government ministries, departments and agencies, including bank records, property and company ownership, as well as customs records.

Adeosun said that the finance ministry has also retained the services of the world’s premier private investigation agencies to help trace overseas assets held by Nigerians and Nigerian companies.

The minister, who sought to dispel the perception of Nigeria as an oil economy, said such descriptions fitted those countries characterised by low population densities and abundant oil resources.


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Chris Pemu

Chris Pemu

Christopher B. Pemu has a degree in Political Science from the University of Lagos. He joined Nairametrics in 2014 as News Editor and later as Managing Editor. He currently serves as the General Manager of Nairametrics. He takes pleasure in traveling, enjoys world politics and in sport, he loves watching football and tennis.

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