Professionals Crucial to Implementation of Tax Reforms, Says CITN

Omolabake Fasogbon

The Chartered Institute of Taxation of Nigeria, CITN, has reiterated active involvement of tax professionals in successful Implementation of the Economic Stabilisation Bill  awaiting passage at the National Assembly. 

The bills, once enacted, are expected to stabilise Nigeria’s economy and lay the groundwork for long-term inclusive growth.

President of CITN, Samuel Agbeluyi noted in particular  that the progress of  bill’s section requiring the establishment of tax agents to interface  between tax payers and revenue authorities,  will rely heavily on  level of commitment and expertise displayed by members. 

Agbeluyi while speaking at the institute’s practicing licence certificate presentation ceremony in Lagos, recently, also 

 reminded the newly certified members on the tasks ahead, urging them to maintain exemplary ethical standard in discharge of their duties. 

He said, “All of you are critical to the implementation of this reform and the achievement of its objectives when implemented, rely heavily on the efficiency and professionalism you demonstrate

“CITN being the sole body chartered by Laws of the Federation of Nigeria to regulate the practice of taxation in Nigeria, will not compromise ethics, professionalism and continuous learning. We are firmly committed to ensuring that taxation remains a specialised and regulated profession, ensuring that only individuals with the required expertise and certification are authorized to practice”.

Also admonishing the practitioners, Managing Partner, BBC Professionals,  James Obogwu emphasized need for licensed practitioners to structure their business in line with core principles of corporate governance. 

“As professionals, effective corporate governance must  be a cornerstone of our business practices. We must uphold the highest standards of ethics, prioritize succession planning, and drive growth through continuous learning and development”, he said.