The Federal Inland Revenue Service (FIRS) and the Economic and Financial Crimes Commission (EFCC) have pledged to strengthen their collaboration in tracking and reporting local and trans-border financial transactions of companies, multinationals, and high-net-worth individuals.

FIRS Chairman Zacch Adedeji made the call during a visit to his EFCC counterpart, Ola Olukoyede, at the anti-graft agency’s headquarters in Abuja yesterday.

Adedeji emphasized the importance of collaboration, stating that socio-economic activities are “speedily transcending from bricks-and-mortar to a digital and knowledge-driven economy.”

He explained that FIRS utilizes third-party data, information, and intelligence from sister agencies like the EFCC to track financial transactions.

A statement issued by the FIRS Chairman’s Special Adviser on Media, Dare Adekanmbi, revealed that Adedeji sought the commission’s support in terms of data sharing to enhance intelligence gathering and investigation.

Underscoring the need for constant engagement and coordination between the two agencies, the FIRS boss acknowledged their crucial roles in ensuring fiscal stability and combating financial crimes in the country. He highlighted the positive impact of their existing working relationship on improving tax compliance.

“We should also explore the possibility of joint initiatives, public awareness campaigns, and stakeholder engagement with businesses and the general public in promoting tax compliance and deterring economic crimes,” Adedeji proposed.

“We could also benefit from joint training and capacity-building programmes to enhance the skills of both the FIRS and the EFCC personnel in detecting and addressing financial crimes related to tax evasion,” he added.

Adedeji also requested the commission’s assistance in facilitating the transfer and closure of pending tax investigation cases involving the EFCC, enabling FIRS to collect the much-needed revenue.

Congratulating Olukoyede on his appointment, Adedeji noted, “As the nation is going through a transformational stage in repositioning its socio-economic landscape through the Renewed Hope Agenda of the president, the EFCC and the FIRS have a critical role in supporting the reforms and ensuring the desired outcomes.”