Stakeholders, in Abuja yesterday, expressed worry about tax evasion as the Chartered Institute of Taxation of Nigeria (CITN) read the riot act to tax collectors across the country, citing fraud, get-rich-quick syndrome and breach of taxpayers’ data as concerns.
The stakeholders also warned professionals against aiding tax evasion, stressing the critical importance of ethics, compliance and continuous professional development in safeguarding the integrity of Nigeria’s tax system.
Speaking at an induction ceremony of new members, the keynote speaker at the event, Prof. Yusuf Ali, called for stiffer penalties for tax offences, similar to the serious consequences imposed in the United States and parts of Europe.
“In some countries, tax evasion is punished more severely than violent crimes. While murder may take one life, tax evasion deprives millions of essential services,” he said.
A recent report by Oxfam International in Nigeria, titled ‘Taxing the Rich: Nigerian Fair Tax Monitor Thematic Report’, said that at least 99 per cent of Nigeria’s wealthiest individuals evade tax, a development exacerbating the country’s growing revenue shortfall.
Ali criticised the prevailing attitude towards public funds in Nigeria, noting that citizens often regard government money as “nobody’s money” due to decades of over-reliance on oil revenues and federal allocations.
“If people pay taxes, they’re more likely to demand accountability. But when they don’t, the sense of ownership disappears,” he stated. He also urged professionals to lead by example, recalling how he voluntarily registered for tax in the early 1980s.
“We cannot wait to be chased by authorities before doing the right thing,” he warned. CITN President, Samuel Agbeluyi, told the newly inducted members to uphold professionalism and avoid complacency.
“You have crossed the threshold and joined a profession that demands discipline, knowledge and integrity,” he said. Agbeluyi reiterated the Institute’s commitment to continuous learning and ethical practice as he cautioned inductees against the temptation to engage in fraudulent activity, particularly amid increasing scrutiny of financial professionals.
“There are legitimate ways to succeed in Nigeria. But if the institute receives credible reports of misconduct, disciplinary measures will follow, including referral to a tribunal or court,” he warned.
Chairman of the Membership and Professional Conduct Committee, Dr Titilayo Eni-Itan Fowokan, stressed the importance of taxation in national development, urging new members to uphold CITN’s core values of Service, Teamwork, Excellence and Professionalism (STEP).
Fowokan also spoke on the Institute’s involvement in ongoing tax policy reforms.She confirmed the CITN had made formal submissions on the Economic Stabilisation Bill, which proposes the introduction of Tax Agents to act as intermediaries between taxpayers and revenue authorities. The Bill, already passed by the House of Representatives, awaits Senate concurrence.
“The Institute remains committed to supporting the government with technical advice and ensuring that only qualified professionals are allowed to practise,” she said.
