The Chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, has emphasized the need for collaboration between the FIRS and the Economic Financial Crimes Commission (EFCC) to enhance the tracking and reporting of financial transactions.
Mr Adedeji highlighted the importance of this synergy in monitoring both local and trans-border financial activities carried out by companies, multinationals, and high-net-worth individuals.
During a courtesy visit to the EFCC chairman, Mr Ola Olukoyede, in Abuja, the FIRS Chairman expressed that such collaboration is vital in a rapidly changing socio-economic landscape that is transitioning towards a digital and knowledge-driven economy.
He acknowledged that the FIRS heavily relies on third-party data, information, and intelligence from sister agencies like the EFCC to effectively track transactions.
Read Also:President Tinubu to Attend National Day of Solemn Prayer
Furthermore, Mr Adedeji emphasized the potential benefits of joint training and capacity-building programs for both the FIRS and EFCC personnel.
“Enhancing the skills of employees in detecting and addressing financial crimes related to tax evasion would be crucial in ensuring effective enforcement and compliance”, he said.
In response, Mr Olukoyede expressed gratitude to the FIRS boss and assured him that the existing relationship between the two financial agencies would be maintained.
He also emphasized the need to review the memorandum of understanding (MoU) between the FIRS and EFCC, particularly regarding operations in units such as the tax fraud section and joint tax force.
“The call for synergy between the FIRS and EFCC highlights the importance of collaboration in tackling financial crimes, enforcing tax compliance, and ensuring transparency in Nigeria’s financial landscape. The sustained partnership between these agencies will contribute to the overall integrity and effectiveness of the country’s financial regulatory framework”, Olukoyede noted.