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Saturday, October 2nd 2004 HOME | back to previous page EFCC probes Chevron over tax evasion • Arrests two top officers sisaa agboh senior correspondent In a move which signals a      clampdown on multinational companies which evade tax in the country, operatives of the Economic and Financial Crimes Commission (EFFC), have arrested two top management staff of Chevron Nigeria Limited over the company’s alleged tax evasion. The two officers were picked from the oil company’s corporate offices in Lekki, Lagos and taken to Abuja by the operatives during the week. An informed source told Saturday Independent that the commission was deeply worried over the financial loss Nigeria was incuring through tax evasion and was set to commence a probe of all multinational companies in the country on which the Federal Inland Revenue Service (FIRS) had already sent petitions to it. The petition on Chevron gave it the tonic to move into the company to arrest the two officers who are now assisting in investigation. While auditing the books of the oil company, the operatives reportedly discovered that over $34 million was allegedly paid to the coffers of the federal government as tax but there were no records to that effect. The source said that, confused by the development, the operatives had to visit the Central Bank of Nigeria (CBN) and the USA Reserves, which serves as the Central Bank of America to cross-check facts, but the supposed payment was discovered to be a ruse. It was learnt that with the discovery in the oil company, officials of the EFCC are now beaming their searchlight on other foreign companies doing business in Nigeria to ascertain their culpability in tax evasion. Curiously, Saturday Independent gathered that while these foreign companies deny Nigeria the needed funds, they remit all taxes due to their home governments. The Director, Media of the Economic and Financial Crimes Commission, Sheriff Ujuud could not confirm the story when contacted on his mobile phone, saying he was on vacation. He referred Saturday Independent correspondent to the Head, Public Affairs of the commission, Ibrahim Balarabe, who could not be reached at press time.   Copyright� 2004. All Rights Reserved. Independent Newspapers Limited Block5, Plot 7D, Wempco Road, Ogba, P.M.B. 21777, Ikeja, Lagos State, Nigeria. www.independentng.com e-mail: [email protected] Designed By Powered By DNet.

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