The Executive Chairman, EIRS, Otunba (Hon.) Oladele Bankole-Balogun and Hon. (Engr.) Jackson Eribo Executive Director MDA Services, EIRS were on Thursday, the 24th of April, 2025, inducted into the prestigious Chartered Institute of Taxation of Nigeria CITN, at the Institute’s 52nd Induction Ceremony held in Abuja the Federal Capital Territory.
Declaring the Induction Ceremony open, Prof. Yusuf Alli, a Senior Advocate of Nigeria (SAN), noted that the importance of taxation to the society cannot be overemphasized. He recalled that at a very young age, he understood how important paying tax was when he wrote to his employer to commence his tax deductions.
He likened the non-payment of taxes to killing everyone unlike murder, noting that when citizens pay taxes they hold their government accountable.
According to Alli: “In first republic, each of the three regions was contributing to the national purse. Nigerians showed interest in the common wealth of the country because they were all contributing to generate the revenue.
“But when oil money came, we went off target and taxes became relegated. When people pay taxes, they hold those in charge responsible.
“In advanced societies, the central government taxes the states for the resources they generate. For us to make progress, we must retrace our steps.
“If we rely on taxes, we will be more interested in making our leaders account for the way they spend our money. All Nigerians should imbibe the habit of willingly fulfilling their tax obligations,” he said.
Proffering suggestions for ensuring tax compliance, Yusuf Alli advised the tax Institute and Revenue Authorities to put in place reward systems to identify and reward tax compliant entities and tax practitioners who follow the rules of the Institute.
Addressing the 1,427 inductees after administering the Oath of Allegiance, the 16th President of the Taxation Institute Samuel Agbeluyi mini, FCTI, congratulated the inductees for having satisfied the requirements set out by the Council and got inducted into the noble profession.
He admonished the newly inductees and members of the taxation profession to eschew all forms of professional misconduct and uphold the integrity of the Institute in all their dealings.
He warned “that the Institute’s Council frowns at any conduct deemed to be at variance with the Code of Ethics for members”
Speaking further, Agbeluyi noted that “considering the multi dimensional nature of the profession and dynamic nature of the economic environment, members should constantly update themselves with current information and seek knowledge.”
Agbeluyi, said that the Institute, the foremost professional taxation body in Nigeria, had been at the forefront of driving excellence, ethical and professional standards in the tax profession for over 43 years.
He urged members to be well acquainted with the tax and fiscal policy reforms being proposed 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, it 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,” he said.
He said that the CITN had reviewed the bills and made submissions on areas where specific provisions may benefit from further refinement to enhance tax administration and uphold the highest standards of professionalism.
“We believe that if and when our recommendations are taken into consideration, the Nigeria tax system will be better for it.
“The CITN remains unwavering in its commitment to continually providing technical support and advice to the government as we progress in these reforms,” he said.
He said that the Institute took seriously the issue of continuous learning.
“Apart from the annual Mandatory Professional Training Programme (MPTP), the Institute, including the CITN Tax Academy, organises various trainings, conferences, workshops, seminars and specialised training programmes.
“Additionally, to ensure that members stay up-to-date about the proposed changes and understand their potential impact on the taxation landscape, the Institute has carried out a series of high-level webinars to deepen discussions on the tax reforms among members and the general public,” he said.
He urged the new inductees to project the institute positively through ethical conduct, and by striving for excellence at all times in their service to employers, clients and stakeholders.
Dr. Titilayo Fowokan, the Chairman, Membership and Professional Conduct Committee, said that taxation was imperative to national development.
According to Fowokan, as tax professionals, members of the CITN 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,” she said.
Otunba (Hon.) Oladele Bankole-Balogun Esq, ACTI, Executive Chairman, Edo IRS, who responded on behalf of the inductees, commended the President and Members of the Governing Council of the CITN for deeming him and other inductees fit and admitting them as members into the prestigious institute of the noble profession.
He stated: “I have no doubt that we will all uphold the tenets, principle, discipline and the professionalism that this great body (CITN) has been known for so many years”.
