The practice of having ones money stashed in a secret offshore account to avoid tax payment may seem justified; however, a Professor of History at the University of Ibadan, Professor Charles Adesina has revealed that Tax Havens are detrimental to the economy of developing countries.

Prof Adesina who made this known at an exclusive interview on CEOAfrica’s online television programme, Community Today, explained that developing countries are usually at the ones that bear the brunt of Tax Havens and offshore accounts, adding that the practice of keeping large sums of money in secret foreign accounts is unconstitutional.

More to come…