MTN Nigeria, FIRS under probe over alleged N2.6trn tax evasion, abuse of power

MTN Nigeria is under investigation by the House of Representatives Committee on Public Accounts following a N2.6 trillion tax waiver granted it by the Federal Ministry of Trade and Industry.

During its investigative hearing on Tuesday, the committee, led by Oluwole Oke, stated that the documents used to back the waiver was allegedly forged, which could have an implication on Nigeria’s economy.

It was also asserted that the certificates, which stand as evidence of the waiver, following valuation of MTN dealings by the Federal Inland Revenue Service (FIRS), were not issued by the Service.

Read also: MTN Nigeria raises N127bn via commercial paper

The investigation had commenced following audit queries issued by the Auditor General of the Federation on tax evasion. During the hearing, General Manager, MTN group, Yemisi Adeleye, said the Trade Ministry and FIRS used various documents to support the N2.6 trillion tax waiver.

While she provided documents to defend the capital allowance, the House committee disagreed with her submission, stressing that it would probe the role of abuse of power in the tax waiver by the Trade Ministry and FIRS.

The officials of the Federal Ministry of Trade and Industry, as well as the FIRS, have been summoned to face the Committee on Public Accounts, and provide details of the waiver process.

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