CIFCFIN Backs Tax Reform Law, Calls for National Fraud Investigation Framework

Bennett Oghifo

The Chartered Institute of Forensics and Certified Fraud Investigators of Nigeria (CIFCFIN) has commended President Bola Tinubu for signing the Tax Reform Bill into law, while calling for the establishment of a National Tax Fraud Investigation and Forensic Oversight Framework to improve Nigerian tax system.

Speaking during the graduation ceremony of the Institute’s 13th Direct Membership Training, Licensed Practitioners Training and Fellowship Awards at the National Institute for Legislative and Democratic Studies (NILDS), Abuja recently, CIFCFIN’s Founder/Chairman, Governing Council, Dr. IliyasuGashinbaki, said the new tax law introduced a Unified Tax Code for consistency across all tiers of government.

Praising the initiative, he said it also mandates Digital Tax Registration and Reporting for both local and foreign entities; enforced stricter penalties for evasion and fraud that extended criminal liability to facilitators such as accountants, auditors and even legal practitioners.

“This is a bold and strategic response to decades of fragmentation, opacity, and exploitation of Nigeria’s tax system,” he declared, adding: “The new tax law brought with it sweeping reforms as it consolidated over 60 disparate taxes into fewer than 10 core taxes.”

According to him, “the most notable aspect of the new tax law is the introduction of the mandatory beneficial ownership disclosure that pulled the curtain back on those hiding behind shell companies and nominee structures.”

Gashinbaki, however, noted that no law, no matter how well-drafted, could enforce itself, and thus the need for a forensic counterattack as tax fraud, like other economic crimes, thrived on complexity, collusion, and complacency.

He explained that the envisaged National Tax Fraud Investigation and Forensic Oversight Framework would deepen forensic investigations to improve tax compliance and enforcement, targeting high-risk sectors such as telecommunications, oil and gas, banking, construction, maritime and import trade.  He stressed that the Tax Fraud Forensic Investigators “must be empowered with real-time access to combat the malfeasance in the Nigerian tax system.” 

Also speaking after his investiture as anHonourary Fellow of the Institute, the Chairman, Code of Conduct Bureau (CCB), Dr. AbdullahiUsman Bello, noted that CIFICFIN, “represents excellence, integrity and a steadfast commitment to combating fraud and upholding justice. To be recognised and honoured as a Fellow of this great Institute is a privilege that I will cherish and carry with great responsibility.

“As the Chief Executive of CCB, I’m reminded of the critical role we play in fostering transparency, accountability, and ethical governance in Nigeria. This recognition inspires me to re-double my efforts.”

In his goodwill message, the DG, National Institute for Legislative and Democratic Studies (NILDS), Prof. Abubakar O. Sulaiman, commended the leadership of CIFCFIN for sustaining a clear vision in developing a competent cadre of forensic professionals who will not only detect financial crimes but also contribute to preventive frameworks and policy advocacy for system reform.

“As we continue to grapple with the challenges of corruption, financial mismanagement, cyber-enabled crimes, and governance deficits, the relevance of your institution and the expertise of your members cannot be overemphasised,” he declared.

He called on policymakers and stakeholders to collectively harness the potential of CIFCFIN to drive strategic reforms improve investigative frameworks and support the entrenchment of rule-based order across both the public and private sectors.