Institute inducts new members, warns against complacency

The Chartered Institute of Taxation of Nigeria (CITN) has inducted a total of 1459 new members, warning the new inductees against complacency and other unprofessional conducts. Speaking at the event on Thursday in Abuja, the 16th CITN President, Mr Samuel Agbeluyi, said that the 52nd induction ceremony was the first to be hosted outside the […]

The Chartered Institute of Taxation of Nigeria (CITN) has inducted a total of 1459 new members, warning the new inductees against complacency and other unprofessional conducts.

Speaking at the event on Thursday in Abuja, the 16th CITN President, Mr Samuel Agbeluyi, said that the 52nd induction ceremony was the first to be hosted outside the city of Lagos.

He said that the council of the institute, mindful of the geographical spread and logistical realities of the inductees, resolved to alternate the hosting of induction ceremonies between Lagos and the FTC, Abuja, a strategic shift by the institute to underscores the fact that they are, indeed, a national Institute, one that recognises and values its members across all 36 states of the federation and the FCT.

“The CITN, as the foremost professional body in taxation in Nigeria, has been at the forefront of driving excellence, ethical and professional standards in the tax profession for over 43 years now.

“I believe all of us here are well acquainted with the plethora of tax and fiscal policy reforms being proposed in through the Economic Stabilisation Bill presented by the Presidential Committee on Fiscal Policy and Tax Reforms. The Bill is currently awaiting concurrent approval from the Senate having been passed by the House of Representatives, amongst other things, recommends the introduction of Tax Agents who will serve as intermediaries between tax payers and revenue authorities.

“This legislative effort is certainly commendable; however, as tax professionals, we have a critical role to play. The Institute is committed to ensuring that taxation remains a specialised and regulated profession, ensuring that only individuals with the required expertise and certification are allowed to practice.

“The institute has reviewed these Bills and have made submissions on areas where specific provisions may benefit from further refinement to enhance tax administration and uphold the highest standards of professionalism within the taxation system in Nigeria. We believe that if and when our recommendations are taken into consideration, the Nigeria Tax System will be better for it,” Agbeluyi said.

He said that the CITN remains unwavering in its commitment to continually provide technical support and advice to the government as the nation progress in these reforms.

He also told the inductees that the

Council expect them to project the institute positively through ethical conduct and by striving for excellence at all times in their service to employers, clients and stakeholders.

“As you progress in your various fields, please do not fall into the trap of complacency. The Institute expects you to hold in high esteem her core values which have been redefined as: Service, Teamwork, Excellence and Professionalism (S.T.E.P).

“As a regulatory measure, the council of the CITN has established an investigating panel with the authority to examine cases of professional misconduct involving members. Additionally, the Disciplinary Tribunal is diligent in carrying out its responsibility to discipline any member found to have violated professional standards,” Agbeluyi said.

Speaking earlier, the Chairman, membership and professional conduct committee of CITN, Dr. Titilayo Eni-Itan Fowokan, said that by attaining membership in CITN, the new inductees are not only joining a distinguished body of tax professionals but also committing to upholding the highest standards of ethics, professionalism, and excellence in taxation practice in Nigeria.

“The importance of taxation in national development cannot be overemphasized. As tax professionals, we play a crucial role in ensuring compliance, promoting fiscal responsibility, and contributing to the economic growth of our country. The knowledge and skills you have acquired will serve as invaluable tools in addressing the challenges within Nigeria’s tax system and shaping the future of taxation,” Dr. Fowokan said.

The Special Guest of Honour, Prof, Yusuf Ali, SAN, said that the importance of taxation was such underlined by the fact that those who follow international events, tax evasion in the U.S. or in Europe attracts more punishment than murder.

“Tax evasion in the U.S., in the advanced world actually, attracts more punishment if you are convicted than killing somebody. And the reason for it is simple. You kill an individual where just bad. That’s God’s life taken without permission. But evasion of tax is killing so many people. You kill a lot of people,” Ali said.

He said that one of the challenges Nigeria has is that the nation was used to freebies.

He recalled that in the first republic each of the regions was contributing to the national costs, which made Nigerians to put their eyes on the money of the country because they were contributing to making the money available.

He said, “But the moment we ran off target, oil money came. And I always tell people that everybody’s money is nobody’s money. The minute that we had this freebie, nobody paid attention and didn’t even want to issue a taxation and then accountability also went away. Because when people pay taxes, they will hold those who have released the money accountable.

“But if we rely on taxes by all of us, we will be more interested in taking our leaders to account about the way our money is spent. Number two, I do not expect that anybody in this room will wait until he is chased or pursued before fulfilling the basic civic duty of payment of personal tax or corporate tax.”

He noted that the country do wait until the offences are committed, then start to run the entire scam.

“We should put in place things and systems that will discourage people from running foul of the ethics of the practice of tax, taxation, and encourage them to observe the rules, continue the education in the area of tax administration and such things is very important.

“And we should find a reward system where those who are going to obey the ethics of the profession are rewarded, are encouraged, and are patronized,” Ali said.