CACOBAG’s faults tinubu’s tax reform, demands probe of alleged N128bn power sector funds

 

 The Coalition Against Corruption and Bad Governance (CACOBAG) has faulted the implementation of the Federal Government’s new tax reform laws, describing them as anti-people and demanding their immediate suspension pending public review.

Speaking at a press conference in, CACOBAG Chairman, Mr Toyin Raheem, said the tax reforms signed into law by President Bola Tinubu lacked transparency and were rushed through the National Assembly without adequate consultation.

Raheem said the coalition was concerned that the gazetted tax laws were allegedly different from what was passed by the legislature, insisting that no law should be implemented amid allegations of alteration.

“The implementation of a tax law whose authenticity is being questioned is unacceptable. 

"A law built on a faulty foundation cannot stand,” he said.

He warned that the coalition would approach the court to halt the implementation of the tax laws if the Federal Government failed to heed public concerns.

According to him, the tax reforms would further impoverish Nigerians, particularly low-income earners, traders and members of the working class, while favouring wealthy individuals and corporations.

Raheem argued that the threshold of N67,000 monthly income for tax exemption was unrealistic, noting that it was insufficient for basic living expenses.

He called on the National Assembly to conduct a public inquiry into the alleged discrepancies surrounding the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service Act and the Joint Revenue Board Act.

The CACOBAG chairman also raised concerns over what he described as the alleged disappearance of N128 billion in the power sector, urging anti-corruption agencies to commence immediate investigations.

He alleged that funds earmarked for power projects were either unaccounted for or spent without proper documentation, including payments to contractors without evidence of project execution.

Raheem called on the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Nigerian Financial Intelligence Unit (NFIU) to probe the alleged misappropriation involving the Federal Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET).

He said the explanation by the Minister of Power, Mr Adebayo Adelabu, that the alleged corruption predated his tenure was unacceptable, stressing that responsibility included addressing inherited challenges.

Raheem warned that CACOBAG would seek a court order compelling the anti-corruption agencies to act if investigations did not begin within 21 days.

On governance, the coalition cautioned political office holders against abandoning governance for electioneering ahead of the 2027 general elections.

Raheem said CACOBAG would oppose any attempt to sacrifice governance in 2026 for political ambition, adding that Nigerians were increasingly interested in competence, accountability and good governance.

He urged politicians seeking re-election to focus on service delivery, transparency and anti-corruption efforts, warning that voters would reject candidates perceived as corrupt or insensitive to public welfare.

The chairman reaffirmed CACOBAG’s commitment to monitoring recovered public funds and working with local and international civil society organisations to ensure accountability.

“With collective action, we can make Nigeria a corruption-free country,” Raheem said.