Lagos Moves To Prosecute 52 High Profile CEOs, MDs Over Tax Evasion

Posted by African Examiner Featured, Latest Headlines, News Wednesday, February 19th, 2014

Ayo Balogun, Lagos

The Lagos State Government says it has concluded plans to prosecute 52 Chief Executive Officers, CEOs and Managing Directors, MDs of high profile companies across Lagos, Southwest Nigeria over tax evasion.

Lagos State Governor Babatunde Fashola

The government, however, refused to give the name of the CEOs and MDs and their companies, but said their prosecution would begin anytime from now.

The Lagos State Government had last month commenced prosecution of about 60 tax defaulters, including 12 lawyers and 48 eminent citizens.

Special Adviser to the Governor on Justice Reform, Lanre Akinsola said government would begin the prosecution of 52 high profile tax evaders any time from now, vowing that government was ready to jail anyone found culpable and recover its money.

“These are employers of labour who have companies across the country, but refuse to perform their civic obligations.

They are 52 high net work individuals who have defaulted in their obligations. They will be prosecuted this week. Some of them have refused to pay their taxes for a very long time. They are business men who are into different sectors of the economy,’ he said.

According to him, these people had an obligation to file in their taxes without any demand as there was no need to notify them before they do what is right, adding that “although, we have served them notices but yet they refuse to comply.”

He further stated that tax evaders when convicted would be compelled to remit to the government all taxes due to it as they would also be denied the privilege of holding public offices, apart from going to jail.

“On the consequence of their action, apart from the term of imprisonment, they will still pay their tax. The person will not be able to partake in the election because once the person has become a convict, you can’t be elected. Also, if the person is holder of national honour, that is a ground for such person be nullified,” he stated.

Akinsola disclosed that some of the CEOs and MDs had not remitted their taxes since 2006 and that government had been magnanimous enough to have condoned their excesses and is now ready to take the bull by the horns and prosecute them.