An Examination of the functions of the Chairman Federal Inlands Revenue Services in relation to the principles of Corporate Governance in Nigeria

Abstract

This paper examines how the enormous powers given to the Executive chairman Federal Inlands Revenue Services under the Federal Inlands Revenue Services (Establishment) Act, 2007 negate the workability of the principles of Corporate Governance in the activities of the Service. In doing this, the paper appraises the jurisdictional bases as well as legal framework of Corporate Governance in Nigeria. The paper further examines how section 11 of the Act which has direct bearing on the qualification and function of the executive chairman negate corporate governance principle and the danger such may pose to the administration of the service. The paper in the final analysis draw conclusion and make some practical recommendations that may aid the effective application of the principles of corporate governance in the Federal Inlands Revenue Services of Nigeria.