During the 50th induction ceremony of the Chartered Institute of Taxation of Nigeria (CITN) in Lagos, Mr. Samuel Agbeluyi, the President and Chairman of the Council, highlighted the significance of the establishment of the Presidential Committee on Fiscal Policy and Tax Reforms. He emphasized its role in demonstrating a strong commitment to promoting sustainable economic growth through effective taxation strategies.
Agbeluyi underscored the evolution of Nigeria’s tax and fiscal policies, particularly during President Bola Tinubu’s administration. He pointed out that the recent approval of the 2024 budget underscores the imperative of boosting tax revenue to effectively execute the budget of Renewed Hope.
“The establishment of the Presidential Committee on Fiscal Policy and Tax Reforms reflects a resolute commitment to charting a course for sustainable economic growth through effective and efficient taxation,” remarked Agbeluyi.
He further emphasized CITN’s steadfast advocacy for a tax system that facilitates business operations, ensures accountability, and promotes the responsible use of taxpayers’ funds.
“As esteemed inductees, it is important to emphasize that the council’s expectations of you are comprehensive. You are tasked with showcasing the institute in a positive light through ethical behavior and constant pursuit of excellence,” Agbeluyi stated.
In her welcome address, Dr. Titilayo Fowokan, the Chairman of the Membership & Professional Conduct Committee, reminded inductees that they were embarking on a journey that would challenge and inspire them to achieve new levels of excellence in their careers as tax professionals. She emphasized that joining CITN meant becoming part of a community dedicated to fostering learning, innovation, and personal growth.
She encouraged the new inductees to confront forthcoming challenges with bravery and teamwork, aspiring to enhance standards and professional ethics in the field of taxation within the institute.
“As we commemorate our golden jubilee induction ceremony, we reaffirm our dedication to the institute’s fundamental principles of service, collaboration, excellence, and professionalism. These values are indispensable and should be embraced and maintained as you join as members,” she elaborated.
The guest of honor, Shade Omoniyi, the Executive Chairman of Kwara State Internal Revenue Service, emphasized, “As new members, you are tasked with representing the institute positively by adhering to ethical conduct and demonstrating a commitment to excellence. Uphold high ethical standards.
“The tax profession requires service, collaboration, excellence, and professionalism. Continue to expand your knowledge through the mandatory professional training programs and seminars to stay updated on the latest developments in the taxation landscape.”
Omoniyi highlighted that as Nigeria navigates through an ever-changing global environment, the role of CITN will become increasingly pivotal.
“I am confident that CITN will continue to play a significant role in Nigeria’s tax system, fostering sustainable growth. Congratulations on the golden jubilee! To the new inductees, here’s to a successful journey in the field of taxation,” she concluded.
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