Lagos Aligns with Tax Body to Promote Transparency

Omolabake Fasogbon

The Lagos State Government has reiterated its commitment to effective and transparent  taxation,  just as states intensify efforts to boost revenue for infrastructure development.

Governor of Lagos state, Mr Babajide Sanwo-olu declared this at the investiture ceremony of  Mr Innocent Ohagwa as the 17th President of the Chartered Institute of Taxation of Nigeria (CITN), assuring of state’s cooperation with the institute to drive vouluntary tax compliance. 

Sanwo-olu represented by his Special Adviser on Taxation and Revenue, Mr. Opeyemi  Ogungbo, lauded the institute’s influence in shaping national taxation and reforms proven to have enhanced tax system and professional practice.

He expressed confidence in the  capacity of the 17th President to lead CITN to new heights, citing his  track records and expertise in taxation spanning  over three decades which have earned  him prestigious roles within and outside the institute across the continent. 

Sanwo-olu further charged Ohagwa on innovative practice,  emphasizing his emergence came at a critical point in Nigeria’s fiscal landscape, while he pledged fullest support and collaboration. 

In a keynote address themed, “The Tax Professionals of Tomorrow: Skills, Ethics  and Innovation,”  Professor of Accounting at Nasarawa State University, Muhammad Mainoma

noted that traditional tax model was become obsolette for evolving global economy, and heightened demand for accountability and transparency. 

According to him, global initiatives like Base Erosion and Profit Shifting(BEPs) project, Common Reporting Standard (CRS) and push for global minimum tax are redefining tax juridictions.

He said, ” The society demands a higher standard of ethical conduct from tax practitioner. In an age where public trust in institutions is fragile, tax professional play a key role in ensuring fair and transparent taxation. Ethical lapses not only harm client’s interest but also damage public confidence in the ba system as  a whole.”

In his acceptance speech, Ohagwa  pledged  commitment to service, stating that his priorities align with the institute’s strategic plan. Some of his identified action points  included capacity enhancement for taxation stakeholders,  collaboration with key stakeholders on implementation of recent fiscal and tax reforms and improvement of service delivery channels and process, amongst others.