Former Minister of Finance, Kemi Adeosun, has underscored the critical role of tax compliance in Nigeria's journey towards prosperity. In a recent statement, Adeosun reflected on key economic reforms during her tenure and addressed the personal controversies that led to her resignation from President Muhammadu Buhari's cabinet in 2018.
Legacy of Fiscal Reforms and Anti-Corruption Drive
Adeosun served as Nigeria's Finance Minister from 2015 to 2018, a period marked by significant institutional changes. She highlighted the Whistle Blower Policy as a pivotal anti-corruption tool, which led to the recovery of N554.047 billion for the federal government. An additional N13.8 billion was retrieved from companies engaged in tax evasion through information provided under this scheme.
Another major achievement was the establishment of the Efficiency Unit, designed to curb wasteful government spending. This initiative reportedly saved N34 billion in 2016 alone on expenditures for office stationery and computer consumables. Adeosun also oversaw the strengthening of the Treasury Single Account (TSA) and the sustained use of the Bank Verification Number (BVN), policies that helped eliminate ghost workers and block revenue leakages.
On Tax Compliance and Economic Management
Adeosun emphasized that voluntary tax compliance remains the bedrock of national development. She pointed to the Voluntary Assets and Income Declaration Scheme (VAIDS), introduced during her time in office, which offered an amnesty window for tax defaulters to regularize their status. "Every citizen must come clean to declare what his or her assets and incomes are," she stated.
She cautioned against simplistic assessments of economic management, noting the complexity of Nigeria's situation. "Managing an economy is not football, where you get a result in 90 minutes. There is a lag that is never simple," Adeosun explained, adding that true success is measured by tangible relief for ordinary citizens.
Vindication and a New Chapter in Philanthropy
Adeosun directly addressed the controversy surrounding her National Youth Service Corps (NYSC) certificate, which precipitated her resignation. She confirmed that a court of competent jurisdiction has cleared her of any wrongdoing. Furthermore, her professional body, the Institute of Chartered Accountants in England and Wales (ICAEW), conducted its own investigation and fully vindicated her.
"When I resigned, I already knew I was going to court. I had to clear my name, not just for me, but for tomorrow," she said, describing her decision as a matter of principle. She acknowledged receiving support during the ordeal, including from the late President Buhari.
Now, her focus has shifted entirely to social impact through the DashMe Foundation, which supports vulnerable children and underserved communities. Her work on the ground has given her a deeper appreciation for the resilience of Nigerians. "Vulnerable people are not passive. All over Nigeria, I've seen women running tiny businesses on impossible margins," she observed.
Adeosun concluded that the ultimate goal for national transformation is creating a fair and enabling environment. "The real transformation will happen when the environment is created that allows our people to build," she stated, advocating for public policy guided by compassion, competence, and integrity.
