The Executive Director of the Civil Society Legislative Advocacy Centre (CISLAC), Mr. Auwal Rafsanjani, has called on the federal government to concentrate on collecting taxes from defaulting multinational corporations and wealthy Nigerians to enhance revenue, rather than resorting to additional borrowing.
In an interview during the ongoing Annual Meetings of the IMF and World Bank in Washington, DC, Rafsanjani highlighted that nearly 90% of Nigeria’s affluent citizens evade taxes, as indicated by a recent study. He argued that effective tax collection, especially property taxes, could significantly bolster government revenue, providing essential funds for critical development initiatives and addressing widespread poverty.
“Nigeria has no reason to remain the poverty capital of the world,” he asserted, urging the government to prioritize internal revenue mobilization instead of loans.
Rafsanjani also emphasized the need to strengthen agencies such as the Economic and Financial Crimes Commission (EFCC) and the Nigeria Intelligence and Financial Unit (NIFU) to combat the illicit financial outflows that have long affected the nation. He pointed out the involvement of Nigerian banks in facilitating terrorism financing and other financial crimes, calling for increased accountability.
Additionally, he urged international bodies like the World Bank and IMF to engage more with civil society organizations to ensure transparency and effective utilization of funds.
