A special Reps committee headed by Wole Oke has summoned the Minister of Trade and Industry, Niyi Adebayo, over the loss of N32bn in export free trade zones.
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The House of Representatives Public Accounts Committee is looking into the claims by companies that the Ministry of Trade and Industry gave out fake Certificates of Capital Compliance for tax waivers. These companies have therefore been operating with fake capital compliance certificates in their years of working in trade free zones.
The Office of the Auditor-General for the Federation made this discovery, having served these companies with indictments in recent investigations. These happenings have overall cost the Federal Inland Revenue Service over N32bn in revenue. Mr. Oke advised that an official letter should be sent to the Secretary to the Government of the Federation, the Chief of Staff to the President and the Attorney-General of the Federation to inform them of the situation.