Corruption, Waste Make New Taxes Unjust — Moghalu
Former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has criticised renewed calls for higher taxes, describing them as unjust in light of widespread corruption and waste in governance.
In a post on X on Sunday, Moghalu questioned how Nigeria’s oil revenues and billions of dollars in borrowed funds had been utilised, insisting that citizens should not be burdened with fresh taxes without accountability from leaders.
“The profligacy and corruption in what passes for governance in our country, Nigeria, makes it unfair to expect citizens to pay any additional taxes,” he wrote. “While taxes are an important part of the social contract, the question must first be asked: what have the revenues from oil and the numerous loans we have borrowed been spent on?”
The former CBN chief described Nigeria’s political class as “self-entitled elites” who fail to uphold transparency and accountability.
Although Moghalu acknowledged that tax reforms are broadly a step in the right direction, he argued that the absence of accountability makes any additional tax burden on ordinary Nigerians indefensible.
“Accountability is a core principle of governance. It does not exist with our self-entitled political elites.
While the tax reform laws are broadly in a good direction, the core questions of accountability and transparency must be addressed. They haven’t,” he added.
