The Economic and Financial Crimes Commission (EFCC) is seeking a closer alliance with the Federal Inland Revenue Service (FIRS) to combat tax evasion and fraud within the extractive industry. Ola Olukoyede, the Executive Chairman of EFCC, emphasized the need for a deeper working relationship during a meeting with FIRS Chairman, Mr. Zacch Adedeji, at the EFCC headquarters in Abuja.
Stressing the strategic importance of collaboration between the two agencies, Olukoyede highlighted the vital role of FIRS in revenue generation, which is essential for EFCC’s efforts in combating financial crimes. He expressed the intention to formalize this partnership through a Memorandum of Understanding (MoU) to strengthen their collective impact.
Furthermore, Olukoyede raised concerns about the alarming prevalence of fraud, particularly in the solid minerals sector of the extractive industry. He urged for concerted efforts and cooperation between EFCC and FIRS to address fraudulent activities in this sector.
In addition to collaboration in combating financial crimes, Olukoyede called for FIRS support in technological empowerment, including the enhancement and upgrading of forensic laboratories, as well as staff training. This emphasis on technological advancement underscores the evolving nature of financial crimes and the need for both agencies to stay ahead of fraudsters.
Mr. Adedeji, the FIRS Chairman, acknowledged the pivotal role of EFCC in supporting crucial government reforms and the efficient utilization of government funds. He commended the existing collaborative efforts between the two agencies, noting that the exchange of information has significantly contributed to improving tax compliance levels in Nigeria.
Adedeji also highlighted the potential for joint training and capacity-building programs to strengthen the skills of personnel in detecting and addressing financial crimes related to tax evasion. He further solicited the Anti-graft Agency’s support in data sharing to enhance intelligence gathering and investigation within the FIRS.
The proposed collaboration between EFCC and FIRS reflects a proactive approach to addressing financial crimes, ensuring tax compliance, and enhancing revenue generation for the Nigerian government. As both agencies intensify their efforts to combat tax evasion and fraud, this partnership is poised to yield significant milestones in safeguarding the country’s financial integrity.
By Olusola Akintonde
