To minimize excessive abuse of public resources, the financial management system must be strengthened, while the government must carry out intensive economic reform to identify policy gaps, and bridge the holes that enable people to evade or undermine the collection of taxes. They also urged policymakers to intensify efforts in looking for other sources of revenue that can ensure development in Nigeria. Also, the government should block the areas where revenues are supposed to be collected and are not collected. For instance, the audit report clearly shows how the government is losing revenue,” he added. The penalty has been increased, once it is found out that it is a deliberate act to breach the law, the law will take its course.”

Source: The Guardian August 04, 2020 03:33 UTC