NLNG Corporate Caring banner First bank SME Connect Fidelity bank card banner Emerald Energy Institute Camano banner

How oil companies evade taxes, royalties in Nigeria

By Naomi Sharang on 18/12/2018

Gmail icon

Views: 542


Mr Okoi Obono-Obla, Chairman, Special Presidential Investigation Panel for the Recovery of Public Property says oil companies contribute to the economic adversity of the country.

He said this at a press briefing in Abuja, on Monday.

According to him, the companies are denying the country oil taxes and royalties that will help government develop infrastructure.

“We are investigating some of these companies for tax evasion, failure to pay royalties. Five oil companies have not remitted over 1 billion dollars to government.

“We will get to the root of the matter,” he said.

While reeling out other achievements of the panel in 2018, Obono-Obla said that with the Executive Order 6, which had to do with travel ban, the panel had compiled the names of about 39 public officers who were under investigation.

“We have compiled their names and submitted to the Comptroller-General of Nigeria Immigration Service so that they would be placed on travel ban,” he said.

On the Panama Papers, he said the Panel was in partnership with the Nigerian Intelligence Agency (NIA) investigating Nigerians allegedly implicated in the Paradise Panama Papers.

“Findings will be made available to Nigerians in due course.

“The Panel is investigating the Tumsah brothers – Tijani Tumsah (Vice Chairman, Presidential Initiative on North East) and Ibrahim Tumsah (Director, Finance and Accounts, Federal Ministry of Power, Works and Housing) for alleged abuse of office and corruption.

“The Panel has recovered an assortment of 86 brand new luxury and sophisticated cars from the duo; 23 of these vehicles are bullet-proof without the requisite permits.

“We have since obtained an interim order of forfeiture from FCT High Court in Abuja in respect of these properties,” he said

The chairman expressed gratitude to President Muhammadu Buhari, for courageously leading the fight against corruption.

“We are also grateful to the President for his complete support and demonstrable resolve not to interfere with our operations in anyway,” he said. (NAN)

Okoi Obono-Obla, Chairman, Special Presidential Investigation Panel for the Recovery of Public Property

 

Source News Express

Posted 18/12/2018 11:32:06 AM

 

 

CLASSIFIED ADS

 

You may also like...
Why we wanted to impeach Obasanjo — Former...

Tech and media leaders meet in Lagos to...

Ortom raises fresh alarm over influx of herdsmen...

Boko Haram, Fulani herdsmen kill 5,800 in 2...

How RCCG pastor, member attacked me – Justice...

2019: CAN denies endorsing Buhari’s reelection

Security chiefs, ministers brief envoys on arrangements for...

Police take over Oando head office in Lagos...

Boko Haram officially teams up with world’s most...

Face-off looms as FG orders Lagos to hands...

McDonald’s CEO sacked over relationship with employee

EFCC arraigns lawyer for N117m fraud

 

Latest News BREAKING: Oshiomhole gets ultimatum to resign as APC chairman Why I am confident of a second term 5,000 Boko Haram terrorists in military’s net — Buratai Noise pollution: Lagos threatens to close down mosques, churches, others Expel Obaseki, Edo APC LG Chairmen tell Party’s National Leadership Kogi Polls: Armed thugs to be shot on sight, IGP warns Outrage over proposed death sentence for hate speech Why kidnapping is rampant in Kuje — Residents Court Ruling: Secondus demands disqualification of Bayelsa governorship candidate School Principal killed in Taraba ambush We will fight FG to finish on IPPIS ― ASUU Unpaid Salaries: 500 teachers protest, block Cross River Governor’s Office

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (561,706 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (451,798 views) Shameless Genevieve Nnaji exposes breasts in public (400,757 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (334,816 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (303,148 views) 10 cars more expensive than Jets (279,460 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (258,497 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (256,607 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (238,110 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (224,429 views) Lagos plane crash: Journalist releases victims’ names (201,095 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (197,886 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (108) Business & Economy (4,564) Business Verdict (86) Columnists (1,142) Complaints & Requests (97) Enterprise & Opportunities (219) Entertainment (702) Features (844) Global Business Monitor (493) ICT Monitor (67) International (4,198) Interview (211) Live Commentary (30) Love Matters (176) Maggie's Blog (481) News (53,894) Opinion (1,418) Pidgin (17) Politics (11,700) Religion (1,118) Sports (2,221) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera