Moghalu Explains Why Nigerians Shouldn’t Bear Extra Tax Burden

Former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has argued that it is unjust to impose additional taxes on Nigerians while political leaders continue to indulge in waste and corruption.

In a post on (formerly Twitter) on Sunday, Moghalu described the country’s political class as “self-entitled elites” who lack transparency and accountability.

He questioned the use of Nigeria’s oil revenues and billions of dollars in borrowed funds, insisting that leaders must show how these resources were spent before burdening citizens with more taxes.

While acknowledging that tax reforms are generally a step in the right direction, Moghalu maintained that without tackling corruption and financial recklessness in government, the tax burden on ordinary Nigerians would remain unfair.

He wrote:

“The profligacy and corruption in what passes for governance in Nigeria make it unfair to expect citizens to pay additional taxes. While taxes are an important part of the social contract, the real question is: what have oil revenues and the numerous loans been spent on?

“Accountability is a core principle of governance. It does not exist with our self-entitled political elites. While the tax reform laws may be broadly positive, the key issues of transparency and accountability remain unaddressed.”