The Institute of Chartered Accountants of Nigeria (ICAN) has applauded President Bola Tinubu for assenting to four key tax reform bills aimed at overhauling the country’s fiscal and revenue framework.
Malam Haruna Yahaya, ICAN’s 61st President, gave the commendation during the investiture ceremony of Sani Danbaba as the 5th Chairman of the ICAN Gwagwalada and District Society in the Federal Capital Territory.
Represented by council member Matthias Dafur, Yahaya described the reforms as a historic move, particularly beneficial to low-income earners.
He noted that the legislation addresses longstanding tax burdens, some in place for over five decades.
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The four bills signed into law at the Presidential Villa include the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
They were passed by the National Assembly following extensive consultations with stakeholders.
Danbaba also lauded the President, saying the consolidated legislation would support business growth, especially among small and medium-sized enterprises (SMEs), which he noted make up 60% of Nigeria’s economic activities.
Outgoing chairman Sosanwo Akinwunmi congratulated the new executives, urging them to build on existing achievements and prioritise value creation for local entrepreneurs.
