The Executive Director of the Civil Society Legislative Advocacy Centre (CISLAC) and Chairman of Amnesty International, Nigeria, Auwal Musa Rafsanjani, has urged the Nigerian government to adopt stringent economic reforms to stabilize the country’s economy.

Speaking on the sidelines of the World Bank Annual Meetings in Washington, Rafsanjani pointed out some systemic issues he believes hinder economic progress, including corruption, ineffective tax collection, and insufficient accountability in government spending.

Our Correspondents Raliat Adenekan reports that Rafsanjani said a recent research, shows that nearly 90 percent of Nigeria’s richest individuals reportedly evade taxes, insisting that addressing this tax shortfall is essential for generating development funds.

He also criticized Nigeria’s reliance on external borrowing, suggesting that focusing on enforcing property and corporate taxation could provide a more sustainable revenue base.

Speaking on issues within Nigeria’s financial sector, Rafsanjani expressed concern over alleged abuses in the banking industry, which he said is being exploited for money laundering and illicit financial flows. He called on international financial institutions like the World Bank and IMF to adopt more transparent practices when working with Nigeria. 

 Auwal also called on both state and national leaders to “utilize the potential that we have to create a better Nigeria for all.”