President Magufuli has sacked and dissolved the country’s tax authority board after it deposited nearly $13m in fixed accounts in three banks the Tanzania Daily News reports.
The paper quotes Mr Magufuli as saying:
“There has been a tendency by some public officials to hoard in fixed accounts huge amounts of public funds in commercial banks and make away with profits accrued. The trend causes the government to experience shortage of funds and as a result turn to the banks for loans at high interests,”
Explaining why he dissolved the country’s tax board, Tanzania Revenue Authority, President Magufuli said the money had been earmarked for the budget of the country’s tax authority but was instead banked by the board.
“After I learned of the irregularity, I directed that the money should be returned and thereafter dissolved the board,” Dr Magufuli.