LIRS boss forced to retire after alleged N4.2 billion scandal

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About 11 months ago, the Governor of Lagos State, Governor Akinwunmi Ambode appointed new heads of parastatals and agencies with the Lagos State Inland Revenue Service (LIRS) not left out, as Mr Olufolarin Ogunsanwo was appointed Chairman of the agency.

Barely a year in office, reports suggest that Mr Folarin might have been involved in a N4.2billion fraud that led to his early retirement from service on the 26th of August, 2016. According to Sahara Reporters, “an internal memo communicating Ogunsanwo’s departure from the revenue-collection agency dressed up his exit “retirement.” Dated 26 August and signed by J. Aina, Board Secretary, the memo told staff that Ogunsanwo was proceeding on retirement from 25 August and had handed over to Mrs  Akintola Bolaji,  Director, Tax Audit.”

His troubles was said to have begun when about N4.2billion of the agency’s money was said to be unaccounted for. He was reportedly queried by the Governor and asked to proceed on a compulsory leave pending the conclusion of investigation.

Mr Folarin who took over reigns from Mr Tunde Fowler, now Chairman of the Federal Inland Revenue Service (FIRS) also reportedly returned the sum of N1.2 billion during the investigations but that obviously was not enough to save him his job.

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