CITN inducts 605, tasks members on reforms in nation’s taxation system

By Lilian U. Okoro
The Chartered Institute of Taxation of Nigeria (CITN) has inducted 605 new associate members as certified chartered practitioners in the field of taxation.

The 16th President of CITN, Mr Samuel Agbeluyi, who made this known at the 50th induction ceremony of the institute on Thursday in Lagos, urged members to make valuable contributions to the ongoing reforms in the tax and fiscal landscape in Nigeria.

Agbeluyi explained that the induction exercise was a mechanism to grow the tax administration system of the country.

He said that a lot had been happening in the tax and fiscal landscape in Nigeria, particularly since inception of the new government administration.

According to him, of particular reference, the approval of the 2024 budget underscored the imperative of enhancing tax revenue.

He said that the establishment of the Presidential Committee on Fiscal Policy and Tax Reforms reflects a resolute commitment to charting a course for sustainable economic growth through effective and efficient taxation.

“Our responsibility as tax professionals is twofold: (i) ensuring that taxpayers fulfil their tax obligations to the government as and when due, and (ii) advocating for a tax system that is favourable and equitable for taxpayers.

“So, the guidance and counsel we offer to both clients and stakeholders alike are critical to fulfilling these roles effectively.

“We are more than willing to support the current government to achieve its objectives, which we have appraised and deemed to be highly beneficial to Nigeria and Nigerians in the long-run.

“I, therefore, urge the over 28,000 professionals registered under the CITN to demonstrate commitment and make valuable contributions to the ongoing reforms in the tax and fiscal landscape in Nigeria.

“To do this effectively, we must be fortified with the right skill set. We must be distinctive by the depth of knowledge we possess and the level of professionalism we demonstrate,” Agbeluyi said.

In her welcome address, the Chairman, Membership and Professional Conduct Committee, Dr Titilayo Eni-Itan Fowokan, extolled the importance of the roles of the new inductees.

According to her, the induction signifies commitment on the part of the inductees to become ambassadors of the profession at all times.

“This induction is not just a formality; it is the first step towards becoming an integral part of the Institute.

“It goes by saying that your clients will know and judge the institute through your character and service innovation; the manner in which you engage and render your professional duties to your clients will go a long way in shaping the perception of the institute.

“To this end, I encourage you to feel inspired, informed and engaged during this programme, so you can start your new roles with confidence and enthusiasm,” she said.

Fowokan, therefore, challenged the inductees to uphold the principles of peaceful, innovative and harmonious working relationship and to strive to make strides that lead to the growth of their respective organisations, the institute and the nation.

The Executive Chairman, Kwara State Internal Revenue Service, Mrs Shade Omoniyi, said the need for highly competent tax professionals to oversee every facet of the tax system in Nigeria was now more than ever, important.

Omoniyi, a Special Guest of Honour at the event, enjoined the inductees to harness technology for efficiency, saying that technological advancements could revolutionise tax collection and administration.

According to her, adapting to a digital economy presents both challenges and opportunities for taxation.

Chief Akinyele Oladeji, Chairman, CSDC Consulting Enterprise Solutions, advised the government to look inwards by exploiting tax as a means of stabilising the economy, bridging the infrastructure gap, supporting education, and creating employment opportunities.

In his Keynote address, Oladeji, said this idea has become the flagship of the Renewed Hope Agenda of President Bola Tinubu, who had anchored his development plans around enhancing tax-to-GDP ratio.

To the inductees, Oladeji urged them to maintain professionalism in the course of discharging their mandates.

According to him, the discipline of taxation has never been more relevant at a time Nigeria is grappling with soaring debts, infrastructure deficits and rising costs of living.

“The tax landscape is dynamic, influenced by global economic shifts, technological advancements, and evolving regulatory frameworks.

“Your induction into this prestigious institute signifies your readiness to embark on this journey with a commitment to excellence and continuous learning.

“To be guided as tax experts it is important we are conscious about past trends of tax revenue of the country.

“I, therefore, charge you all, as new taxation professionals, to respond to this call and contribute to the development of the country,” Oladeji said.(NAN)(www.nannews.ng)

Edited by Vivian Ihechu