Nigeria Insists on Prudent Use of Tax Revenue to Encourage Voluntary Compliance

The Chartered Institute of Taxation of Nigeria (CITN) has stressed the importance of prudent use of tax revenue to encourage voluntary compliance among taxpayers and reduce the cost of tax collection in the country.

The 16th President and Chairman of the Council of CITN, Mr. Samuel Agbeluyi, made this statement during the investiture of Dr. Caroline Ndubuisi as the sixth National Chairperson of the Society of Women in Taxation in Abuja on Saturday.

Agbeluyi emphasized that taxation is the most sustainable source of government revenue, and that the prudent use of tax revenue is essential for encouraging voluntary compliance among taxpayers.

He noted that the CITN has been playing a significant role in shaping government policy on taxation, and that many of the policies currently being introduced by the government are driven by members of the institute.

Agbeluyi revealed that the anticipated tax reform bills are close to becoming law, and that the CITN intends to take a leading role in ensuring the effective implementation of the new laws.

He appealed to political leaders to ensure that all tax revenue collected is used judiciously for the benefit of the populace, and that proper management of tax funds would enhance voluntary compliance and reduce the cost of collecting taxes.

Agbeluyi reiterated the importance of taxation as a means of generating revenue for the government, stating that “if you want to move the nation forward, you need revenue, and the most sustainable form of revenue is taxation.”

He emphasized that the CITN is committed to promoting efficient taxation across the country and ensuring that tax revenue is used for the benefit of the populace.

The event also marked the investiture of Dr. Caroline Ndubuisi as the sixth National Chairperson of the Society of Women in Taxation. Ndubuisi brings a wealth of academic and professional credentials to the role, including two doctoral degrees in Security and Strategic Studies and Forensic Accounting and Audit.

She is a respected voice in financial governance, tax technology, and women’s empowerment, and has long championed the modernization of Nigeria’s tax systems and the inclusion of women in leadership roles.