The Federal Inland Revenue Service (FIRS) has underscored the imperative for a heightened level of collaboration with the Economic Financial Crimes Commission (EFCC) to diligently monitor and report financial transactions of companies, multinationals, and high-net-worth individuals. In a recent meeting at the EFCC’s office in Abuja, FIRS Chairman, Zacch Adedeji, articulated the pressing need for synergy between the two agencies, given the rapid transition of socio-economic activities from traditional bricks-and-mortar structures to a more dynamic and digitally-driven economy.
Adedeji elucidated that FIRS relies on third-party data, information, and intelligence from sister agencies, including the EFCC, to effectively track financial transactions. In a statement by Dare Adekanmbi, the Special Adviser on Media to the FIRS chairman, Adedeji sought the commission’s support in terms of data sharing to augment intelligence gathering and facilitate thorough investigations.
Highlighting the importance of continuous engagement and coordinated meetings between the two agencies to address specific challenges, Adedeji acknowledged the pivotal roles played by FIRS and EFCC in ensuring fiscal stability and combating financial crimes in the country. He revealed that the existing working relationship between the two agencies has proven instrumental in enhancing tax compliance.
Furthermore, Adedeji proposed the exploration of joint initiatives, public awareness campaigns, and stakeholder engagement with businesses and the general public to bolster tax compliance and act as a deterrent to economic crimes. He emphasized the potential benefits arising from collaborative training and capacity-building programs aimed at enhancing the skills of personnel from both FIRS and EFCC in detecting and addressing financial crimes related to tax evasion.
Expressing awareness of pending tax investigation cases involving the EFCC, Adedeji humbly requested the chairman of the anti-graft agency to facilitate the transfer and closure of these cases. This, he believes, would enable FIRS to collect much-needed revenue, aligning with the nation’s ongoing transformational stage in repositioning its socio-economic landscape through the Renewed Hope Agenda of the president.
Conclusion: FIRS
In a congratulatory note, Adedeji acknowledged the appointment of Ola Olukoyede as the Executive Chairman of EFCC, recognizing the critical role that both EFCC and FIRS play in supporting the reforms and ensuring the desired outcomes during this transformative phase in the nation’s socio-economic trajectory.
