Sir Shehu Muhammadu, representing the Emir of Kano, Alhaji Muhammad Sanusi, has stated that corruption is one of the major factors that fuels and encourages Tax Havens, adding that it is the bane of developing countries.

Making this statement at the international conference organised by the Center for General Studies and the Office of International Programme, University of Ibadan on the topic Tax Havens and the Developing World: A Global Dimension, Sir Muhammadu noted that people patronise tax havens as a means to evade and avoid tax in their home countries.

He further stated that corruption is a major reason that people keep their money in secret shell companies. He also noted that corruption which seems to be prevalent in Nigeria stems from three major problems which he identified as; lack of discipline, lack of monitoring and lack of appropriate sanction.

Sir Muhammed expressed hope that the conference will address the burning issue of corruption. He also urged the press to publicise corrupt officials so as to stem the deadly tide in the country.

More to come…