Abuja: Taxation stakeholders have called for ethical tax practices to enable the nation to boost its non-oil revenue. The stakeholders spoke at the 52nd induction ceremony of the Chartered Institute of Taxation of Nigeria (CITN) in Abuja.
According to News Agency of Nigeria, Prof. Yusuf Ali, the special guest of honour at the event, emphasized the importance of taxation in any serious society, noting that tax evasion attracts severe punishment. Ali, a Senior Advocate of Nigeria (SAN), highlighted that in some societies, evasion of tax is equated with severe crimes, emphasizing that one of Nigeria's challenges is a culture of relying on freebies. He reminisced about the first republic when each of the three regions contributed to the national purse, fostering a sense of ownership and responsibility among Nigerians.
The CITN President, Mr. Samuel Agbeluyi, stated that the Institute has been at the forefront of driving excellence, ethical, and professional standards in Nigeria's tax profession for over 43 years. Agbeluyi encouraged members to familiarize themselves with the tax and fiscal policy reforms proposed through the Economic Stabilisation Bill, which awaits Senate approval. He noted that the bill recommends introducing tax agents to bridge the gap between taxpayers and revenue authorities, and emphasized the Institute's commitment to maintaining taxation as a specialized and regulated profession.
Agbeluyi shared that the CITN has reviewed the bills and made recommendations to enhance tax administration and uphold professionalism. He expressed optimism that incorporating their suggestions would improve Nigeria's tax system. The Institute remains dedicated to providing technical support and advice to the government as reforms progress.
Continuous learning is a priority for the CITN, Agbeluyi noted, with various training programs offered to ensure members stay informed about proposed changes and their potential impact. He urged new inductees to positively project the Institute through ethical conduct and strive for excellence in their professional endeavors.
Dr. Titilayo Fowokan, Chairman of the Membership and Professional Conduct Committee, reiterated the critical role of taxation in national development. She stressed the importance of tax professionals in ensuring compliance, promoting fiscal responsibility, and contributing to economic growth. Fowokan encouraged new members to engage in continuous learning, networking, and active participation in CITN programs.
The ceremony saw the induction of 1,461 new CITN members, with nine of the inductees recognized for excelling in the October 2024 professional examination. Oluwadamilola Olaiya was honored as the overall best student.