Ciodn urges businesses to treat tax as core fiduciary issue

The Chartered Institute of Directors Nigeria (CIoDN) has urged businesses to treat tax matters as a core fiduciary issue. This call comes amid ongoing discussions on taxation's role in governance and business operations.

According to a statement highlighted on THISDAYLIVE, the Chartered Institute of Directors Nigeria (CIoDN) is calling on businesses to regard tax compliance as a fundamental fiduciary responsibility. The institute, which represents corporate leaders, emphasizes that proper tax handling is essential for sustainable business practices. No further details on the specific reasons or additional context were provided in the available snippet, though the page also features unrelated headlines such as community criticism of Governor Soludo over a chieftaincy title and the National Insurance Commission's development of a mortality rate table in partnership with UNDP. This urging underscores the growing importance of fiscal duties in Nigeria's business environment amid economic challenges.

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Illustration of Nigeria's tax law controversy: CITN demands verification, Senator Ndume calls for suspension, Lagos Governor defends reforms.
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CITN demands verification as calls intensify to suspend Nigeria's disputed tax laws

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Building on earlier policy critiques, the Chartered Institute of Taxation of Nigeria (CITN) has called for urgent verification of new tax laws amid discrepancies, while Senator Ali Ndume urges suspension of the January rollout and Lagos Governor defends the reforms.

Taiwo Oyedele, chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has emphasized the importance of reforming tax administration at the sub-national level to drive Nigeria's economic growth.

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A leading accounting firm has identified 31 critical flaws in Nigeria's newly altered tax laws, prompting calls to halt their implementation. Opposition figure Peter Obi has echoed this demand, highlighting the need for public consultation amid economic hardships. The opinion piece argues that without trust and clear benefits, the reforms risk alienating citizens.

Taiwo Tegbe has stated that the new tax regime in Nigeria aims to reduce the financial strain on workers and small businesses. This announcement highlights potential relief measures in the country's fiscal policy.

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The Civil Society Legislative Advocacy Centre (CISLAC) has urged for transparency and due process in response to allegations of alterations to a tax law.

A northern pressure group has urged the National Assembly to investigate allegations of alterations in tax laws and initiate impeachment proceedings against President Bola Tinubu.

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Muhammad Nami, former chairman of the Federal Inland Revenue Service, has condemned unauthorized alterations to the Tax Administration Act and urged the National Assembly to cancel the gazetted version. He called for an investigation and prosecution of those responsible while advising the executive to halt related regulations. The Peoples Redemption Party has demanded suspension of the disputed laws, but the federal government defends their January 2026 implementation.

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