Tax Evasion: ICPC Clamps Down On Foreign, Local Firms, Ports, Airports

Efforts are ongoing by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to track local and foreign companies involved in tax evasion and false documentation.

Others include consortium of companies that “submitted doctored audited reports” to acquire public assets and engaged in asset stripping after taking over the privatised facilities from Federal Government.

In addition, the Commission is also extending its anti-corruption operations to the Nigerian ports and airports across the country, with the view to track operators and officials of various regulatory agencies involved in corrupt activities.

Ekpo Nta, ICPC chairman who gave the information during the 2015/2016 budget defence before the House Committee on Financial Crimes, disclosed that the Commission had recovered over N10 billion from various anti-graft interventions.

The ICPC chief, who stressed the need for adequate annual budgetary provision for the Commission to effectively discharge its statutory functions, bemoaned the zero allocation for foreign trainings and engagement in the 2015 fiscal year, stressing that such international obligations provided opportunities for the Commission and other related agencies to exchange ideas of anti-corruption crusade.

To effectively discharge its mandate, Nta assured that the Corporation would use UN anti-corruption guidelines, and disclosed that the Commission, which was granted the status of Nigerian Police by the ICPC Act, had trained its personnel in arms at the 177 Battalion, but that efforts made to procure arms through the office of the National Security Adviser (NSA) were unsuccessful.

He explained that the collaboration between ICPC and Bankers Committee led to the introduction of the recoveries through the IPPIS, GIFMIS and BVN platforms, adding that the deployment of electronic platforms to monitor public sector financial disbursements and more systems review of MDAs will go a long way to reduce corruption-prone processes.

He also emphasised the need for the Commission to get funding for forensic laboratory, stressing that the Commission currently depend on other security agencies like Nigerian Police and Economic and Financial Crimes Commission (EFCC) for the facility.

Nta explained that some of the 942 petitions, which had nothing to do with his office were refereed to relevant agencies, including Public Complaint Commission, EFCC, Nigeria Security and Civil Defence Corps (NSCDC), among others, adding that investigations had been concluded on 384 of the petitions, 59 charged to court and had secured convictions on five.

In his remarks, Hazeez Akinloye, chairman, House Committee on Financial Crimes, promised to do their utmost to strengthen the Commission by making a case for increased funding for its operations and amendment of its enabling law, where there were legal impediments to its effectiveness.

About Faith Irabor 1036 Articles
Welcome on board!!! Faith Irabor is just like your everyday girl next door with strong survival instincts. Am an International Journalist, Events planner and Blogger whose media journey dates back to June 2002 as a TV presenter with the Nigerian Television Authority (NTA) Ile-Ife Osun State while I was having my National Diploma in Mass Communication. I left NTA in 2005 to pursue my B.SC in Mass Communication at the Olabisi Onabanjo University OOU Ago-Iwoye, Ogun State and finished in 2008 before joining one of Nigeria's best investigative Tabloids (National Enquirer Magazine & I am very privileged to be trained by one of the industry's bests, my boss and mentor Mr. Tunde Moshood Jr, the former Editor of the defunct Fame Magazine, Publisher of National Enquirer and president Miss Global Nigeria who taught me everything I know in Journalism especially the investigative aspect which is the fulfilment of being a member of the Fourth Estate of Realm (as we journalists are usually officially addressed). My desire to take my journalism practice beyond the Newspaper & Magazine came from the passion I have derived over the years from investigative journalism as Online Media is the best platform to tell a story or news the very minute it’s at your disposal without wasting time. I promise to serve you nothing but exclusive and interesting news, interviews, events, articles from around the world and please feel free to email me on on spotted errors as well as ideas that would make me do better as there is no perfect being anywhere except God. Now scroll up, click on any of the stories and please drop your comment!!!!

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