New Tax Reforms Acts: Taxation Practitioners, Administrators Hold Training in Uyo... _We must be well equipped to take the lead - Mrs. Idoreyin William

 

By Substance Udo-Nature 

In preparation for the January 1, 2026 deadline for full implementation of the New Tax Reforms (Establishment) Acts 2025 and as part of its routine mandatory training exercise, the Chartered Institute of Taxation of Nigeria (CITN) Uyo and District Society, has successfully conducted its Mandatory Professional Training Programme (MPTP) for members. Held over the weekend at Bezaleel Hotel, Uyo, the event had in attendance 165 certified tax administrators, practitioners and stakeholders as well as interested persons from allied organizations.

In her welcome address, Chairman of CITN Uyo and District Society, Deaconess Idoreyin William, FCNA, FCTI noted that the training became necessary to upgrade the knowledge of members particularly in view of emerging demands and expectations of the New Tax Reforms Acts as well as boosting participants' professionalism. Mrs. William who is the first female chairman of CITN in Uyo, noted that the training exercise was held under the authority of and in colloboration with the national body of Chartered Institute of Taxation of Nigeria, headed by Mr. Innocent Chineyere Ohagwa, FITI.

She said: "Today, we are here again to upgrade our knowledge in order to remain relevant in our ever evolving professional practices. The topics for today's engagement are not only relevant but essential as Nigeria continues her journey towards economic reforms, fiscal sustainability and global competitiveness. I encourage all to pay close attention, engage actively, ask questions and maximize the insights that will be shared". 

On hand were renowned tax scholars and experts to lead discussions. In his presentation on the subject, "Taxation of Cryptocurrency and 

Digital Assets in Nigeria", Mr. Ifiok Okon Udo, FCTI, stated that the new Tax Reforms Acts will change the dynamics and narratives of taxation in Nigeria; hence, it was necessary tax administrators and experts got deeper grasp of the nitty-gritty of the new law in view of their basic responsibilities of tax management and administration.

"The New Tax Reforms Acts will change almost everything about how Nigerians once understood taxation. While the basic principles shall remain the same, the new Acts shall render many textbooks and laws on taxation obsolete", he said.

Mr. Ifiok who has led tax discourses at many fora and platforms however postulated that the new Acts shall expand the tax net and make it more inclusive and rewarding to government by not necessarily taxing the people more but catching those in the elite class. He said this will be possible especially as digital services like cryptocurrency, etc, have now been legalised. He noted that this expansion into fresh areas of opportunities and avenues in the digital domain shall mean more revenue to government, robust participation of Nigerians, while low income earners and the middle-class shall be greatly relieved of many burdens. 

The second paper on the topic: "The Impact of Tax Uncertainty on Foreign Direct Investment", presented by Dr. Raphael S. Etim, ACTI, critically examined the pro and cons of the new Tax Acts on FDI, against what used to be.

Anchoring his postulations on Karl Marx's 1776 "The Wealth of the Nations" Dr. Etim, a lecturer at the University of Uyo, highlighted the basic functions of tax to include equity, convenience, certainty, fairness, etc, noting that these must drive the new Acts no matter the purpose and amendments in certain sections of the Act.

He nonetheless warned that the new Tax Acts should be handled with care and conscience like a two-edged sword, lest it fails in the altruistic purpose it was designed to serve, nay the fundamentals of taxation.

"You must have noticed the many amendments and fresh additions to the new Tax Reforms Acts. Tax administrators and practitioners are expected to be well versed in the four new Acts especially as they affect Foreign Direct Investment and related issues. That ways errors in implementation or application of the Acts shall be avoided", he advised.

Also speaking, the Executive Chairman of Akwa State Internal Revenue Service (AKIRS), Mr. Okon Okon, called on tax managers and practitioners to seize the moment by taking the lead in creation of awareness amongst taxpayers and always exposing themselves to all avenues for capacity building to be better equiped for the task ahead.

Describing the training session as timely and commending Mrs. William for exemplary and pragmatic leadership, Mr. Okon, a Fellow and serving Council Member, Chatted Institute of Taxation of Nigeria and Member, Presidential Committee on Fiscal Policy and Tax Reforms, also called for effective synergy amongst tax bodies so as to fully realize the goals of the new Tax Reforms. 

"This training session might be routine as a yearly event, but this year's is very special in view of the new Tax regime come January 1, 2026. This training is therefore very timely and I must acknowledge that this is the first time we have exceeded 150 participants at a given Mandatory Professional Training Programme (MPTP). It first speaks to Mrs. Williams leadership acumen to make things happen and also the commitment of members who have shown up at this important session".

He therefore urged the CITN, Uyo and District Society and tax administrators in general to take ownership of the new reforms, be at the forefront of awareness creation, and take full advantage of every opportunity to arm themselves with knowledge. "This is perhaps the biggest reforms in taxation history and discourse in Nigeria since Independence. It is a major shift in the taxation landscape of Nigeria for which President Bola Tinubu must not only be appreciated but fully supported for these reforms to work for the general good of Nigerians". 

Goodwill messages were given by stakeholders, all of whom lauded the fine beginning and leadership trajectory of CITN under Mrs. William and commitment of participants to the training. 

Other dignitaries who graced the occasion included the Akwa Ibom State Auditor-General, Elder Isiah Ntekim; State Accountant-General, represented by the Permanent Secretary, Iniobong Essien, ACTI; and Mr. Victor Ekpo, who represented the national chairman of the Education Committee of CITN. Others were a renowned tax consultant, Mr. Mike Etefia; immediate past chairman of CITN Uyo and District Society, Elder Godwin Owonam, FCTI; Mrs.William Abadsiubong, representing the FIRS Controller; former chairman of Okobo Local Government Area, Dr. Sylvester Attah, AFCNA; and Mrs. Margareth Etukudo of AKIRS, etc.

Established in February 1982, the Chartered Institute of Taxation of Nigeria (CITN) is a professional organization in Nigeria whose members are certified tax practitioners and administrators. Mrs. K was voted into office as Chairman on 28th August, 2025.