Renowned businessman and a political activist, Opeyemi Olabanji, has urged the Federal Government to scrap all tax-related funds, describing them as antithetical to doing business in the country.

He was referring to Industrial Training Fund (ITF), Nigeria Social Insurance Trust Fund (NSITF), Tertiary Education Trust Fund (TETFund) and others funded by taxes.
 
Olabanji alleged, yesterday, in Ilorin, Kwara State, that those pencilled in as true beneficiaries of the funds were edged out due to diversion of such funds into other things.

He said: “As business owners, we continue to pay yearly into these funds and nothing comes out of them. For example, I do not know anyone, student or worker, that has directly benefited from ITF or NSITF. These are just drain pipes. Please scrap ITF, TETFUND and NSITF.”
 
The political activist also urged the Bola Tinubu-led government to make the National Youth Service Corps (NYSC) scheme optional.

“I am not saying NYSC should be totally scrapped, but it should be optional. NYSC certificate should no longer be a prerequisite for employment or any other purpose in the country. At best, you may only consider it as an added advantage for those that would seek employment in our enforcement organisations such as police, military and so on.

“With the introduction of students’ loan and university financial autonomy, you cannot ask someone that took loan or spent good money to acquire education to undertake mandatory NYSC,” he added.