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Senate Uncovers Missing $3.3bn In Foreign Tax

Senate Uncovers Missing $3.3bn In Foreign Tax

The Senate Committee on Public Accounts on Wednesday said it had uncovered how $3.3 billion was missing from taxes collected by the Federal Inland Revenue Services and remitted to the Central Bank of Nigeria in 2015.

The committee is probing the federation accounts from 2015 to 2018. CBN officials, led by Deputy Governor Edward Adamu, appeared before the committee to respond to queries by the Auditor-General of the Federation.

Briefing newsmen after a closed door session with CBN officials, the committee chairman, Senator Mathew Uroghide, said the FIRS record showed that $21.3bn taxes was collected in 2015. The CBN, however, recorded $18bn, a difference of $3.3bn, he added.

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