Gwagwalada: The Institute of Chartered Accountants of Nigeria (ICAN) has praised President Bola Tinubu for his recent enactment of four tax reform bills aimed at refining Nigeria’s fiscal and revenue landscape. Malam Haruna Yahaya, the 61st President of ICAN, delivered the commendation during the investiture of Sani Danbaba as the 5th Chairman of the Gwagwalada and District Society of ICAN, held in Gwagwalada town, Federal Capital Territory.
According to News Agency of Nigeria, the event also included the inauguration of the district’s Executive Committee. Yahaya highlighted the President’s holistic approach to tax law review and emphasized the benefits the new legislation will bring, particularly to low-income earners. Represented by Matthias Dafur, a Council member of ICAN, Yahaya noted that the new law aims to alleviate longstanding tax burdens that have persisted for over fifty years.
The President’s assent to the four tax reform bills took place at a ceremony at the Aso Rock Presidential Villa, Abuja. The enacted bills include the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill. These bills were passed by the National Assembly following extensive consultations with various stakeholders.
During the investiture and inauguration of the Executive Committee, Yahaya encouraged members to collaborate effectively to elevate the district’s status. He expressed confidence in their abilities, stating, “They are assuming a task that is not easy. But they are capable and they are all well tested and I believe they are going to do well.”
The newly appointed district chairman also praised President Tinubu’s tax law, acknowledging its comprehensive inclusion of major tax components into a single piece of legislation. He remarked that these reforms will aid the growth of agencies and companies. The chairman outlined the new team’s focus on supporting micro, medium, and small sector entrepreneurs in their locality, as these enterprises account for 60 percent of Nigeria’s economic activities.
In addition, the outgoing district chairman, Sosanwo Akinwunmi, congratulated the new team and encouraged them to build on the district’s existing achievements.