{"id":49906,"date":"2021-09-11T16:27:50","date_gmt":"2021-09-11T15:27:50","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/nigeria-lost-n5-4trn-in-10-year-tax-evasion-by-multinationals-efcc-chair-bawa"},"modified":"2021-09-11T17:23:06","modified_gmt":"2021-09-11T16:23:06","slug":"nigeria-lost-n5-4trn-in-10-year-tax-evasion-by-multinationals-efcc-chair-bawa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigeria-lost-n5-4trn-in-10-year-tax-evasion-by-multinationals-efcc-chair-bawa","title":{"rendered":"Nigeria lost N5.4trn in 10-year tax evasion by multinationals \u2013 EFCC chair, Bawa"},"content":{"rendered":"

Africa-Press<\/a> – Nigeria<\/a>. <\/strong><\/span>Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa says Nigeria lost N5.4trillion to tax evasion by multinationals from 2011 to 2021.<\/p>\n

On Friday, the anti-graft chief said the figure is apart from the theft of resources in the nation\u2019s oil and gas sector.<\/p>\n

Bawa urged leaders across the world to rise to the challenge of corruption in order to enhance global economic development and security.<\/p>\n

He presented a paper at the 38th Cambridge International Symposium on Economic Crime, organized by the Center for International Documentation on Organized and Economic Crime (CIDOEC), Jesus College, University of Cambridge, United Kingdom.<\/p>\n

Represented by his Deputy Chief of Staff, Sambo Mayana, Bwa said economic and financial crimes manifest in various forms in different nations.<\/p>\n

The senior police officer lamented how resources that could support a country\u2019s development are lost through corruption, tax evasion, money laundering, and the likes.<\/p>\n

He said the \u201cspoiler\u201d effects on countries\u2019 development processes are diverse and particularly severe for fragile states.<\/p>\n

Bawa blamed the poor living conditions of people in developing countries on pervasive economic crimes going on.<\/p>\n

\u201cIllegal mining, smuggling of goods, tax evasion, illegal oil bunkering, illegal arms deals do not allow the government to receive the full accruals from the continent\u2019s vast resources.<\/p>\n

Nigeria loses N17B to tax evasion by agencies \u2013 FIRS<\/p>\n

\u201cThe revenue generated are embezzled by government officials and their collaborators in the private sector. This does not allow economic growth.\u201d<\/p>\n

Bawa disclosed that as at August 2021, the EFCC had secured over 3408 convictions.<\/p>\n

\u201cFrom the time I took over on the 5th of March 2021, we have recovered over N6billion, over $161million, over \u00a313,000, \u20ac1,730, 200 Canadian dollars, CFA 373,000, \u00a58,430 and 30 property.<\/p>\n

\u201cWe have arrested over 1,500 internet fraudsters, many of whom are being prosecuted,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa says Nigeria lost N5.4trillion to tax evasion by multinationals from 2011 to 2021. On Friday, the anti-graft chief said the figure is apart from the theft of resources in the nation\u2019s oil and gas sector. Bawa urged leaders across the world […]<\/p>\n","protected":false},"author":84,"featured_media":49905,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,28,26],"tags":[1570,2140,3046,5377,254],"class_list":["post-49906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-nigeria-2","tag-bawa","tag-efcc-chair","tag-nigeria"],"yoast_head":"\nNigeria lost N5.4trn in 10-year tax evasion by multinationals \u2013 EFCC chair, Bawa - Nigeria<\/title>\n<meta name=\"description\" content=\"Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa says Nigeria lost N5.4trillion to tax ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigeria-lost-n5-4trn-in-10-year-tax-evasion-by-multinationals-efcc-chair-bawa\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria lost N5.4trn in 10-year tax evasion by multinationals \u2013 EFCC chair, Bawa\" \/>\n<meta property=\"og:description\" content=\"Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa says Nigeria lost N5.4trillion to tax ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigeria-lost-n5-4trn-in-10-year-tax-evasion-by-multinationals-efcc-chair-bawa\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-11T15:27:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-11T16:23:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/09\/img-613cd7c79281c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"719\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigeria-lost-n5-4trn-in-10-year-tax-evasion-by-multinationals-efcc-chair-bawa#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigeria-lost-n5-4trn-in-10-year-tax-evasion-by-multinationals-efcc-chair-bawa\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Nigeria lost N5.4trn in 10-year tax evasion by multinationals \u2013 EFCC chair, Bawa\",\"datePublished\":\"2021-09-11T15:27:50+00:00\",\"dateModified\":\"2021-09-11T16:23:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigeria-lost-n5-4trn-in-10-year-tax-evasion-by-multinationals-efcc-chair-bawa\"},\"wordCount\":309,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigeria-lost-n5-4trn-in-10-year-tax-evasion-by-multinationals-efcc-chair-bawa#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/09\/img-613cd7c79281c.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"bawa\",\"EFCC chair\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigeria-lost-n5-4trn-in-10-year-tax-evasion-by-multinationals-efcc-chair-bawa#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigeria-lost-n5-4trn-in-10-year-tax-evasion-by-multinationals-efcc-chair-bawa\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigeria-lost-n5-4trn-in-10-year-tax-evasion-by-multinationals-efcc-chair-bawa\",\"name\":\"Nigeria lost N5.4trn in 10-year tax evasion by multinationals \u2013 EFCC chair, Bawa - 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