Poor Record Keeping Fueling Tax, Inheritance Crises in Nigeria – Experts

Experts in auditing, governance, and public administration have warned that poor record keeping is worsening tax disputes, inheritance battles, failed business succession plans, and financial losses across Nigeria.

The concerns were raised on Thursday in Abuja during the public presentation of the book, “Record Keeping Fundamentals: Securing Your Legacy in Nigeria’s Tax Era,” authored by Patience Doye Odele.

Speaking at the event, the Auditor-General for the Federation, Shaakaa Chira, said proper documentation remains essential for accountability, transparency, and effective management of resources in both public and private life.

Represented by Director in the Office of the Auditor-General for the Federation, Babalola Olanrewaju, Chira stressed that record keeping forms the foundation of auditing and national development.

“Record keeping is central to our job as auditors, so let us keep the spirit alive for the benefit of our country. It is good to put pen to paper for history. To us, record keeping is fundamental to our office,” he said.

He noted that governance and administration cannot thrive without documentary evidence, warning that assumptions without records often create distortions and disputes.

“There is an adage that says confidence is different from evidence. You may have confidence, but having evidence is equally important, and evidence comes from proper documentation. Documentation itself is the foundation of bookkeeping,” he added.

The Auditor-General further said the importance of documentation extends beyond institutions to families and households, where proper records help ensure financial discipline, stability, and continuity.

Reviewing the book, Oluwabusayo Fawale said weak documentation culture in Nigeria has continued to create avoidable economic and legal challenges.

“Nigeria’s poor record-keeping causes costly problems—excessive taxes, inheritance disputes, failed succession, rejected loans, and lost legal cases. Over 13 years as an auditor, the author saw these issues,” he said.

According to him, the book provides practical guidance for entrepreneurs, family business owners, and household managers, while presenting record keeping as an important legacy tool.

Also speaking, Godknows Igali, a retired Permanent Secretary in the Ministry of Foreign Affairs, lamented the loss of institutional memory caused by the failure of many public officials to document their experiences.

Igali, who said he has authored five books, commended the author, Patience Doye Odele, for documenting her professional experiences early in her career.

“Record Keeping is at the centre of existence,” he said, stressing that undocumented information is often permanently lost.

In his goodwill message, member of the House of Representatives, Afam Ogene, praised the author’s diligence and commitment to professional development.

Earlier, Odele said the book was inspired by her more than 13 years of experience in the audit department, where accurate records remain central to audit reporting and accountability.

She also recounted how losing her passport and personal belongings during a trip to the Dominican Republic exposed the critical importance of personal documentation.

“At one point, I travelled to the Dominican Republic, where my passport and bag were stolen. That experience made me realise the true importance of personal record-keeping,” she said.

According to her, the absence of immediate access to travel records and the lack of a Nigerian embassy in the country delayed her return home for more than seven months.