The Chartered Institute of Taxation of Nigeria (CITN) is optimistic that the economy will improve across all indices by the end of the year if the appropriate policies are implemented.
Adesina Adedayo, the president of CITN, stated this at the institute’s annual general meeting.
Despite the difficult operating climate, he noted there had been some good indicators during the review period.
He noted that despite several economic downturns, the institute continued to gain traction in its drive to become one of Africa’s premier professional institutions, while analyzing the institute’s performance, activities, and triumphs over the period.
According to him, the government and other parties in the Nigerian tax system respected and sought out the institute’s ideas and opinions on tax issues.
Connecting with stakeholders, improving partnerships with regional and worldwide professional organisations, employee welfare/capacity building, women inclusion, and media engagement were among the institute’s achievements during the previous presidential year, he said.
According to him, the CITN has continued to engage important stakeholders in order to carry out its advocacy function in accordance with its mandate as the industry’s conscience.
The institute’s treasurer, Simon Kato, who presented the financial account, said the institute had an operational surplus of N145 million, up 28.82 percent from the N113 million reported in 2020.
Between 2020 and 2021, he said, the institute’s total assets increased from N1.56 billion to N1.824 billion.
According to him, the performance represents unwavering support from members, the governing council, and staff members’ tireless efforts.
Adefisayo Awogbade, the Institute’s Registrar/Chief Executive, said that all hands were on deck to boost productivity and produce record-breaking outcomes in line with the institute’s basic values.
