FG loses millions of dollars to false CSR claims by multinationals

A member of the House of Representatives, Prof Obiagili Orogbu has revealed that the Federal Government is losing millions of dollars to false Corporate Social Responsibility (CSR) claims by multinational companies operating in Nigeria.

Orogbu made this revelation in an interview with Channels Television’s Sunday Politics.

She said, “Nigeria is losing millions of dollars in revenue from false CSR claims by companies…this we want to stop with the introduction of the CSR bill.

The Labour Party (LP) member and lawmaker representing Awka North and South Federal Constituency in the green chamber said, “The Company Income Tax Act has a provision for expenses incurred in CSR.

She further said, “These donations, goodwill or infrastructural development they did in their communities, they claim it and at the end of the day, the tax they pay to the government is not actually the amount they are supposed to pay.

Orogbu, the Chairperson of the House Committee on CSR, said, “However, they still don’t provide the infrastructure in most cases.

“Maybe you are supposed to provide basic amenities that are worth N100 million and you claim you provided N100 million in your audited account but what you actually did is N10 million, it means you have cheated the government in your tax payment,” she added.