Expert urges FG to tackle fraud, raise IGR through technology
Vice Chairman, Xpress Payment Solution Ltd, Awa Ibraheem, has called on government at all levels to leverage on opportunities in emerging technologies to boost Internally Generated Revenues (IGR) and combat fraud.He made this call at a two-day maiden accounting technology summit, with the theme, ‘Disruptive technologies: The game changer for businesses’ organised by the Institute of Chartered Accountants of Nigeria (ICAN) yesterday in Lagos.
According to him, emerging technologies if well harnessed, have the potentials to reduce corrupt practices and boost revenues generated by government, maintaining that when the velocity of cash is very high, the level of leakages in government revenues increases, which can only be reduced by the deployment of emerging technologies.
Given the level of infrastructure and environment for technology to thrive in the country, Ibraheem insisted that notwithstanding the challenges in the country, technologies remain the bedrock for sustainable economic survival, noting that technology has simplified businesses and financial transactions. He urged state governments that are yet to embrace technology to do so before they are far left behind, warning that failure to do so is fatal for such state and its economy.ICAN President, Razak Jaiyeola, implored participants to introduce emerging technologies to the state government and help them.
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