Nigeria Faces $4M Cut in World Bank Funds Due to Audit Issues
The Challenges of Revenue Audits: A Closer Look at Nigeria’s Fiscal Landscape
In recent months, Nigeria has faced a significant setback, primarily stemming from shortcomings in the revenue assurance audit reports submitted by two pivotal government bodies: the Federal Inland Revenue Service (FIRS) and the Nigeria Customs Service. These reports cover the period from 2018 to 2021 and reveal a troubling picture of inefficiency and gaps in accountability.
This disconnect contributes to a broader narrative of fiscal…