Tax analyst and consultant, Philip Oji, has called for the establishment of an Independent Revenue Protection Agency of Nigeria (IRAN) to strengthen transparency and accountability in revenue administration.

Mr Oji made the call on Wednesday in Abuja at the launch of his book, “The Global Tax Heist: How Multinationals Undermine the Wealth of Nations”.

He said the proposed agency would independently monitor revenue transactions, strengthen accountability and ensure quarterly reporting to the National Assembly.

“I studied tax law in Singapore, and was inspired by inadequate tax education and awareness among Nigerians, particularly young people”, Mr Oji said.

He also advocated the introduction of taxation studies into senior secondary schools and tertiary institutions to promote tax awareness and encourage citizens to demand accountability from the government.

He said the proposed agency would also strengthen Nigeria’s international financial cooperation through information sharing to combat illicit financial flows and terrorist financing.

“Nigeria loses more than 50 billion dollars annually due to weaknesses in revenue protection mechanisms, this stresses the need for independent oversight”, he said.

He disclosed that the Association of Consultants on Nigeria’s Revenue and Economy had spent 10 years advocating the establishment of the agency.

He noted that the proposed bill, sponsored by Benjamin Okezie-Kalu and eight other lawmakers, was currently before the House Committee on Finance.

Reviewing the book, Joseph Uwaleke described it as a timely contribution to discussions on taxation, economic governance and sustainable national development.

“Global tax leakages, multinational corporations’ exploitation of national wealth and the Catch Them Young Tax Transparency and Accountability Initiative are the major themes of the book,” he said.

He identified transfer pricing, base erosion and profit shifting, cryptocurrency transactions and the use of shell companies as practices that undermine revenue generation in developing economies.

The reviewer also highlighted provisions of the Nigerian Tax Act 2025, particularly Section 57, which established a minimum effective tax rate of 15 per cent for qualifying companies.

He urged stakeholders to ensure the effective implementation of tax reforms, improve tax administration and integrate taxation education into Nigeria’s school curriculum.

Earlier in his opening remarks, the chairman of the event’s organising committee, Malcolm Illenigbo, criticised Nigerians’ reluctance to pay taxes.

“Many citizens expect government to provide infrastructure without fulfilling their tax obligations”, he said.

Mr Illenigbo urged governments to strengthen tax collection mechanisms, alleging that fraudulent practices among collection agencies and tax evasion by companies were depriving the country of substantial revenue.

(NAN)