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Financial expert proffers solutions to tax fraud in Nigeria

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Tax

A financial adviser and business mentor, Mr. Abikure Tega, has said that the easiest and most efficient way to address issues of fraud in the country’s taxation system is through the block-chain technology.

Tega, Chief Executive of Kurecion Foundation, who spoke at a training programme at the weekend organised by his outfit, said the efficacy of the block-chain infrastructure had to do with its capacity to handle trust, which made it a topnotch choice among users of currencies across the world.

He further stated that the block-chain technology is like the Internet and had a built-in robustness that stores blocks of information that are identical across its network.

According to him, the block-chain technology can address complexity in governance and administrative system, adding that it is essentially a decentralised transaction ledger in which digital information can be distributed and viewed but not copied or altered.

He, therefore, advised that while government creates regulatory frameworks to govern the business sector, it should be careful not to kill creativity.

This, he said, was especially so because there is a tin line between monitoring, controlling and killing creativity.


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