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Bullion

Keywords

Direct payment, Taxation, Banks, Payment systems

Abstract

This paper examine the Federal Government policy on direct payment system of tax through designated Nigerian Banks. The main objective of the scheme is to improve the administration of taxation in Nigeria by making it more convenient to tax payers in terms of time saving, reducing the incidence of fraud which has, over the years, depraved Government of needed revenues, minimizing the risk of carrying cash, providing transparency and -improved accountability, and of course, enhancing revenue yield substantially.

Author Bio

The author is the Deputy Governor of Central Bank of Nigeria.

Publication Title

CBN Bullion

Issue

3

Volume

20

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