ICAN CITN and NBA — Nigeria’s Tax Reform Bills and Discrepancies
By Uchenna Nnnadi
In Nigeria, tax professionals come from two professions, accounting and law. These two professions have principally three highly self-regulated and respected associations, namely ICAN, CITN and NBA.
The foremost tax professionals and experts in Nigeria are located within the members of the Institute of Chartered Accountants of Nigeria [ICAN], Chartered Institute of Taxation of Nigeria [CITN] and Nigeria Bar Association [NBA]. The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms in Nigeria, Taiwo Oyedele is a member of ICAN and CITN.
ICAN, CITN and NBA have tried in the area of creating awareness as key stakeholders. However, the continued public outcry, including informed stakeholders like organised private sector, the Nigeria-France MoU and the alleged discrepancies between the NASS passed Tax Reform Bills and the Gazetted ones have necessitated that these topmost associations do much more.
True, CITN has expressed serious concern over alleged discrepancies between texts passed by the National Assembly and the gazetted versions of the new tax laws, emphasizing that such inconsistencies threaten legal certainty and compliance. And stressed the technical sensitivity of tax legislation and the need for due legislative process and transparency — using its professional authority to call for strengthened controls and audit trails for tax legislation.
On the other hand, the NBA has formally called for immediate suspension of the implementation of the new Tax Reform Acts and an open investigation into alleged discrepancies between versions passed by the National Assembly and the gazetted Acts, asserting that these controversies undermine procedural sanctity, transparency, and the rule of law. It emphasized that legal certainty and constitutional governance must guide tax legislation — warning of negative impacts on investor confidence, economic stability, and legal compliance.
Uchenna Nnadi is a chartered accountant, former DG of Nsukka Chamber of Commerce, and corporate governance consultant. odonaldkonsulting@gmail.com
