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Zacch Adedeji: Tackling tax evasion and illicit financial flows

Published

5 months ago

July 29, 2025

By Aderonke Atoyebi

At the “National Conference on Illicit Financial Flows” held in Abuja on 22 July, Mr Zacch Adedeji, executive chairman, Federal Inland Revenue Service, spoke directly to the issue. He outlined how Nigeria’s tax system is being undermined by mispriced trade, profit shifting, aggressive avoidance schemes, and financial outflows disguised through legal and accounting loopholes. These practices, he said, are draining the country of revenue meant for core responsibilities, delaying infrastructure, weakening healthcare, stalling education, and undermining public safety.

Why does Nigeria, a country blessed with oil, gas, minerals, and millions of hardworking people, still struggle to meet its financial responsibilities? Why are public schools often in poor condition, hospitals lacking supplies, and some infrastructure projects delayed for years? Why does the government continue to borrow even when taxes are being paid, oil revenues are recorded, and businesses are making profits?

The answers are not difficult to find. They are in what experts describe as illicit financial flows. These are funds that are meant to support development within Nigeria but are quietly moved elsewhere. This happens through tax avoidance schemes, manipulated trade invoices, the use of anonymous companies, and international agreements that no longer reflect Nigeria’s current needs. This is not simply an issue of wrongdoing. It is a question of systems, of influence, and of long-standing practices that have allowed wealth to move out, while public services remain behind.

The gathering brought together stakeholders including Mrs Doris Uzoka-Anite, minister of Industry, Trade and Investment; Irene Ovonji-Odida of the United Nations High-Level Panel on Illicit Financial Flows; and representatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Economic and Financial Crimes Commission (EFCC), Nigeria Customs Service, the Central Bank of Nigeria, and the Securities and Exchange Commission.

The Tax Boss said it as it is. He connected the loss to the consequences. What leaves Nigeria through these channels is not just money, but a lost opportunity. He reminded the room that no government can meet the needs of its people if it allows its revenue to be quietly extracted and transferred elsewhere. In pointing out the harm, he also placed responsibility not only on external actors but on institutions at home to strengthen the systems that protect national resources.

If we recall, Mr Zacch Adedeji has been active on multiple fronts. Not long ago, he inaugurated the Anti-Corruption and Transparency Unit at FIRS, working closely with ICPC to root out corruption in tax collection and ensure honesty in how revenue is gathered. This shows he is not just talking about change; he is making it happen.

The Tax Boss also made it clear that Nigeria must review its tax treaties with other countries. Many of these were signed decades ago and do not serve the country’s current interests. Some even allow companies to move profits out of Nigeria easily. He has started talks with several countries to change these deals and close the loopholes.

He spoke about data. About making sure Nigeria can see, in real time, what money is coming in, where it is going, and whether it is being properly taxed. He said it is not acceptable for the country to be blind to financial movements happening in its economy. He mentioned that FIRS is building a modern data engine that can track transactions more efficiently. This is what it means to upgrade the tools of revenue protection.

Another important point he made was about unity. He said the work of stopping illicit financial flows is not for FIRS alone. It will require the Nigeria Customs Service, the Central Bank, the EFCC, the ICPC, the Ministry of Finance, the Ministry of Trade, and even international partners. Everyone must be on the same page.

If we are paying attention, we will also remember that the FIRS now has a new directorate focused specifically on tackling illicit flows and recovering lost assets. It is called the Proceeds of Crime Management and Illicit Flows Coordination Directorate. It didn’t exist before. This is part of what the Tax Boss created to make sure the work is not just theoretical but backed by a unit with the power and capacity to act. The directorate is designed to coordinate internally and externally, especially with other law enforcement and anti-corruption agencies.

Mr Zacch Adedeji came with the voice of someone who understands that Nigeria is bleeding revenue and that this bleeding must stop. His words did not blame others. They called for action, for systems, for collaboration, and for urgent reforms that reflect the reality of our economy in 2025, not that of 1985.

The Tax Boss is not just managing a revenue agency. He is confronting a system that for years has quietly allowed the wealth of our dear nation to leak out without accountability. He is bringing the matter to the table, bringing people into the room, building structures, and facing what many before him avoided. The work is not done. Mr Zacch Adedeji is not doing guesswork. This kind of leadership is rare. It is serious, focused, and rooted in national interest.

Aderonke Atoyebi is the technical assistant on broadcast media to the executive chairman of the Federal Inland Revenue Service.

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CELEBRATING A CENTURY-OLD CIVIL AVIATION SECTOR TRAJECTORY IN NIGERIA

Published

2 weeks ago

December 1, 2025

The Gleamer

This week, millions of Nigerians and others across the globe will join the Ministry of Aviation and Space Development under the irrepressible leadership of the Honourable Minister, Festus Keyamo(SAN),and all the notable Aviation sector stakeholders in and outside the country,in celebrating a century of Nigeria’s civil aviation history.

There is no doubt that under the present leadership of the Honourable Minister and within the short spell of time in his stewardship,he has consciously and intentionally embarked on a “silent revolution” for the industry with very veritable and laudable landmarks that have consistently grown the industry.

Some of these spirited efforts for instance have consequently led to trust restoration amongst international lessors, financier,any global partners.Of note also is assidiously working for the full domestication and implementation of the “Cape Town Convention Agreement” ,which gives Airlines access to modern fleets of competitive rates as well as enforcement of IDERA(Irrevocable Deregulation and Export Request Authorization).

Having well applauded these vital contemporary initiatives,it will also be germane to cast our minds in retrospect by taking a peep into our history over several decades to recognise some of the notable forebears in the industry whose impressionabl efforts cannot be overlooked,as they took the impetuous initiatives of breaking the ice at the nascent stage.
It will aptly corroborate the truism which says that… ” a journey of a thousand miles starts with one step”.

The above is vividly captured from a tribute by the First Republic Minister of Aviation Chief Mbazulike Amaechi at the funeral of late Igwe of Oba,HRH Peter Ezenwa(MFR) in 2018.
It states inter alia…”One significant thing I will say many people didn’t know is that the first indigenous airline that was to run in Nigeria was known as “STANDARD AIRLINE”.It was founded in 1966 by a company formed by Igwe Peter Ezenwa from Oba,and had on board,John Nwankwu from Abagana,Edward Ebo from Ezinifitte,(all from Anambra state),John Anyaehie from Nkwerre in Imo state,and lastly my very self Mbazulike Amaechi.
The five of us later acquired two brand new aircrafts,and had four pilots,namely;Unachievable,John Emma Ngwu and Felix Offor,who was to be the General Manager of the airline.
But just about the time for the take-off the crisis of the military takeover erupted in the North as the planes were on their way for delivery to us.In fact the bank handling the transaction was to allow the planes to be flown from the USA,but the news of the war broke out in 1967,the insurance company cabled for the cancellation of the deal as they will not be able to cover the risk cost of aircrafts being flown into war zone.
So,we asked the manufacturers to take the two aircrafts back to their country and hold on for six months with the hope of that the war will end within the requested time frame,but the war didn’t end as thought.We consequently asked for refund and they deducted some money and refunded the balance which was deposited at the London branch of African Continental Bank(ACB).

When the government took over the operations of ACB,we still hoped for the refund but unfortunately were disappointed that the Federal government took over the whole money and we lost everything.”

Further in line with our historical perspective,it will also be pertinent some of the later years reformists in the likes of Engr Onyereri and Harold Demuren who advertently sponsored some far reaching regulations that eventually steered the industry towards greater autonomy with the passage of the 2005 Civil Aviation Act,which I was also a prime participant of in my capacity as an Aviation sub chair in then House of Representatives.

As we mark this great century milestone,and with the clear evidential pathway set out by the current managers of the industry under the indomitable leadership of Honourable Minister, I do not see the sky posing any limitations as they say,but rather availing new vistas of limitless growth opportunities.

CONGRATULATIONS.

Hon Chidi Nwogu
Former member House of Representatives & presently Governing Council member
,African Aviation and Aerospace University,Abuja.

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