The Chartered Institute of Taxation of Nigeria has emphasised that the prudent use of tax revenue will encourage voluntary compliance among taxpayers and significantly reduce the cost of tax collection in the country.
The 16th President and Chairman of the Council of CITN, Mr Samuel Agbeluyi, stated this during the investiture of Dr Caroline Ndubuisi as the sixth National Chairperson of the Society of Women in Taxation in Abuja on Saturday.
“As an institute, we are happy we are progressing,” Agbeluyi said, expressing optimism about Nigeria’s ongoing tax reforms and the role CITN members are playing in shaping government policy.
He pointed out that many of the policies currently being introduced by the government are driven by members of the institute.
“In 2023, when President Bola Tinubu set up the presidential committee on tax reforms, a good number of members of that committee were from the institute, including the chairman,” he noted.
Agbeluyi reiterated the importance of taxation as the most sustainable source of government revenue.
“If you want to move the nation forward, you need revenue, and the most sustainable form of revenue is taxation,” he said.
In 2023, when President Bola Tinubu set up the presidential committee on tax reforms, a good number of members of that committee were from the institute, including the chairman,” he noted.
Agbeluyi reiterated the importance of taxation as the most sustainable source of government revenue.
“If you want to move the nation forward, you need revenue, and the most sustainable form of revenue is taxation,” he said.
The CITN President further revealed that the anticipated tax reform bills were close to becoming law.
“Hopefully, in the next few days, the president will sign the bills, and we will move to the next level of implementation,” he said.
Looking ahead, he said the institute intended to take a leading role in ensuring the effective implementation of the new laws.
“We intend to take the front seat as an institute in the implementation of the soon-to-become acts of the National Assembly,” Agbeluyi said.
He appealed to political leaders to ensure that all tax revenue collected is used judiciously for the benefit of the populace.
“In playing the leader for the implementation, we keep on appealing to our political leaders to ensure that whatever amount is collected from the citizens is used for the populace,” he said.
Agbeluyi stressed that proper management of tax funds would enhance voluntary compliance, which would, in turn, reduce the cost of collecting taxes.
Judicious usage of the tax revenue will lead to voluntary compliance. Voluntary compliance will lower the cost of collecting the taxes,” he explained.
His remarks come at a time when Nigeria is grappling with low tax compliance and high administrative costs, challenges that the CITN believes can be addressed through better governance and transparency.
The investiture of Ndubuisi as SWIT National Chairperson also signals CITN’s commitment to promoting gender inclusivity in the tax profession, encouraging more women to take up leadership positions.
The Chairperson of the Investiture Planning Committee, Dr Ani Odunayo, expressed immense pride in the Society’s evolution.
“This occasion marks a historic milestone in the journey of our esteemed Society, as we celebrate the transition of leadership and usher in a dynamic new chapter under the guidance of our newly elected National Chairperson,” she said.
She highlighted SWIT’s legacy of empowerment and advocacy for women professionals in taxation, commending outgoing Chairperson Mrs. Bosède Ikhanoba for her transformative tenure.
Speaking of Ndubuisi’s leadership potential, Odunayo said, “Her proven track record as a trailblazer in taxation practice and pioneering IT innovations inspires confidence that SWIT will continue to thrive under her stewardship.”
She urged the Society’s members to rally behind the new leadership, pledging to amplify gender equity and strengthen SWIT’s influence on tax policy and practice nationally and beyond.
Ndubuisi brings to the role a wealth of academic and professional credentials, including two doctoral degrees in Security and Strategic Studies and Forensic Accounting and Audit
A Chartered Accountant and Fellow of multiple international institutes, she is a respected voice in financial governance, tax technology, and women’s empowerment.
Currently serving as Chairperson of CITN’s ICT Committee and National Vice Chairperson of SWIT, she has long championed the modernisation of Nigeria’s tax systems and the inclusion of women in leadership roles.
In her acceptance speech, Ndubuisi reflected on the legacy of the Society’s founding leaders and reiterated a bold vision for the future anchored on advocacy, excellence, expanded reach, and sustainable partnerships.
She called on members to lead with humility and empathy, urging collaboration with government, industry, and civil society to harness taxation as a force for empowerment.
The ceremony also featured an address by the Chair of the Nigerian Women Trust Fund, Mrs. Olufunke Baruwa, who delivered a powerful presentation on “AI for Enhanced Tax Administration and Economic Development.”
transformative tool that can automate tax administration, improve compliance, and drive inclusive economic growth.
The event was also graced by the Deputy Majority Leader in the Senate of the 9th Assembly, Prof Robert Boroffice, who was the chairman of the event.
He urged the institute to promote efficient taxation across the country.
