Chartered Institute of Taxation of Nigeria: Difference between revisions
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The '''Chartered Institute of Taxation of Nigeria''' (CITN) is |
The '''Chartered Institute of Taxation of Nigeria''' (CITN) is the professional body in Nigeria concerned solely with all aspects of taxation. By setting the highest standards of excellence and integrity, the Institute’s aim is to continue to be the only Nigerian body for tax professionals. (CITN) members are certified as qualified tax practitioners or administrators.<ref name="selfabout" /> |
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==Organization== |
==Organization== |
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The Chartered Institute of Taxation of Nigeria started on February 4, 1982 as Association of Tax Administrators and Practitioners. Thereafter, it transformed into Nigeria Institute of Taxation, which was formally launched on February 21, 1982 and statutorily recognized on May 6, 1987 as company Limited by Guarantee. The Institute was chartered by the Federal Government of Nigeria by the enabling Act No. 76 of 1992 (now CITN Act, CAP C10, Vol. 2, Laws of the Federation of Nigeria, 2004) and was charged with the responsibility, among others, of determining what standards of knowledge and skills are to be attained by persons seeking to become a professional Tax Practitioner or Administrator. |
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The CITN was formed in February 1982 and chartered by the Federal Government of Nigeria by the enabling Act No. 76 of 1992.<ref name=selfabout/> Members of the institute may be Accounting, Legal or other professionals who have obtained the relevant tax expertise. The institute provides training and conducts examinations to determine eligibility.<ref>{{cite web |
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|url=http://gusaubusinessschool.com/citn.html |
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'''The Charter of Institute''' |
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|title=Chartered Institute of Taxation of Nigeria (CITN) |
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|work=Gusau Business School |
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The aims and objectives of the Institute as laid down in its charter (Decree 76 of 1992) among others are: |
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|accessdate=2011-06-01 |
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|archive-url=https://web.archive.org/web/20110522070130/http://www.gusaubusinessschool.com/citn.html |
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To determine what standards of knowledge and skills are to be attained by persons seeking to become registered members of the taxation profession. |
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|archive-date=2011-05-22 |
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|url-status=dead |
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To raise, maintain and regulate the standard of taxation practice amongst its members. |
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}}</ref> The CITN offers an Advanced Diploma in International Taxation to CITN members who work in international tax.<ref name=CIOT/> The CITN has been criticized for not providing enough training to members at subsidized rates.<ref>{{cite journal |
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|url=http://www.businessdayonline.com/NG/index.php/markets/companies-and-market/21664-ican-citn-agree-to-down-divide |
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To promote professional ethics and efficiency in tax administration and practice. |
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|journal=[[Business Day (Nigeria)]] |
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|title=ICAN, CITN agree to down divide |
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To encourage, promote and co-ordinate research for the advancement of taxation practice and administration in Nigeria. |
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|date=19 May 2011 |
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|author=IHEANYI NWACHUKWU |
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'''Vision -''' To be one of the foremost professional associations in Africa and beyond |
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|accessdate=2011-05-30 |
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|url-status=dead |
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'''Mission -''' To build an Institute which will be a citadel for the advancement of taxation in all its ramifications |
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|archiveurl=https://web.archive.org/web/20110928151132/http://www.businessdayonline.com/NG/index.php/markets/companies-and-market/21664-ican-citn-agree-to-down-divide |
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|archivedate=28 September 2011 |
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'''Motto -''' Integrity and Service |
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}}</ref> |
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'''Core Values - (STEP)''' Service-Teamwork-Excellence-Professionalism |
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'''IMPLICATIONS OF THE CHARTER STATUS''' |
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The Charter status of the Institute conferred the power of regulation and control of the practice of taxation profession in Nigeria on the Institute. It also gave the legal right to practise taxation solely to the members of the Chartered Institute of Taxation of Nigeria. Its provisions also gave the Institute the right of determining what standards of knowledge and skills are to be attained by the persons seeking to become professional tax practitioners or administrators. |
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'''MEMBERSHIP OF THE INSTITUTE''' |
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Membership of the institute cuts across professions such as economics, business administration, law and accounting. However, it is only those who have acquired practical relevant experience in those professions that are eligible for membership. |
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Also, membership of the Institute is in these categories: |
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I. Fellows |
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II. Associates |
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III. Graduate members |
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IV. Student members |
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==Affiliations== |
==Affiliations== |
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}}</ref> The CITN is also a member of the International Tax Directors Forum (ITDF) and the [[Association of African Tax Institutes]] (AATI). |
}}</ref> The CITN is also a member of the International Tax Directors Forum (ITDF) and the [[Association of African Tax Institutes]] (AATI). |
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The Institute has continually been an architect for the professionalization of taxation in Nigeria and beyond. At every opportunity, CITN has made its positions known on topical issues not limited to economy, but also autonomy of various revenue collecting agencies, encouraging governments at various levels to lay emphasis on taxation as a more enduring source of revenue for national development. The Chartered Institute of Taxation of Nigeria trains and conducts examinations to determine eligibility of intending members. CITN has affiliations with the United Kingdom Chartered Institute of Taxation, the South African Institute of Tax Practitioners, the West African Union of Tax Institute and Association of National Accountants of Nigeria. It is also a member of the International Tax Directors Forum (ITDF), the Association of African Tax Institutes (AATI) and the Financial Reporting Council of Nigeria. |
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==Council Members (2024/2025)== |
==Council Members (2024/2025)== |
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Samuel Olushola AGBELUYI, mni, FCTI President |
Samuel Olushola AGBELUYI, mni, FCTI President |
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Revision as of 12:17, 19 July 2024
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| Abbreviation | CITN |
|---|---|
| Formation | February 1, 1982 |
| Headquarters | Alausa Ikeja, Lagos, Nigeria |
Region | Nigeria |
Official language | English |
President | Samuel Olusola AGBELUYI, mni, FCTI |
Vice President | Innocent Chinyere OHAGWA, FCTI |
| Website | www |
The Chartered Institute of Taxation of Nigeria (CITN) is the professional body in Nigeria concerned solely with all aspects of taxation. By setting the highest standards of excellence and integrity, the Institute’s aim is to continue to be the only Nigerian body for tax professionals. (CITN) members are certified as qualified tax practitioners or administrators.[1]
Organization
The Chartered Institute of Taxation of Nigeria started on February 4, 1982 as Association of Tax Administrators and Practitioners. Thereafter, it transformed into Nigeria Institute of Taxation, which was formally launched on February 21, 1982 and statutorily recognized on May 6, 1987 as company Limited by Guarantee. The Institute was chartered by the Federal Government of Nigeria by the enabling Act No. 76 of 1992 (now CITN Act, CAP C10, Vol. 2, Laws of the Federation of Nigeria, 2004) and was charged with the responsibility, among others, of determining what standards of knowledge and skills are to be attained by persons seeking to become a professional Tax Practitioner or Administrator.
The Charter of Institute
The aims and objectives of the Institute as laid down in its charter (Decree 76 of 1992) among others are:
To determine what standards of knowledge and skills are to be attained by persons seeking to become registered members of the taxation profession.
To raise, maintain and regulate the standard of taxation practice amongst its members.
To promote professional ethics and efficiency in tax administration and practice.
To encourage, promote and co-ordinate research for the advancement of taxation practice and administration in Nigeria.
Vision - To be one of the foremost professional associations in Africa and beyond
Mission - To build an Institute which will be a citadel for the advancement of taxation in all its ramifications
Motto - Integrity and Service
Core Values - (STEP) Service-Teamwork-Excellence-Professionalism
IMPLICATIONS OF THE CHARTER STATUS
The Charter status of the Institute conferred the power of regulation and control of the practice of taxation profession in Nigeria on the Institute. It also gave the legal right to practise taxation solely to the members of the Chartered Institute of Taxation of Nigeria. Its provisions also gave the Institute the right of determining what standards of knowledge and skills are to be attained by the persons seeking to become professional tax practitioners or administrators.
MEMBERSHIP OF THE INSTITUTE
Membership of the institute cuts across professions such as economics, business administration, law and accounting. However, it is only those who have acquired practical relevant experience in those professions that are eligible for membership.
Also, membership of the Institute is in these categories:
I. Fellows
II. Associates
III. Graduate members
IV. Student members
Affiliations
The CITN cooperates with the United Kingdom-based Chartered Institute of Taxation.[2] CITN is also affiliated with the South African Institute of Tax Practitioners and the West African Union of Tax Institutes.[3][4] The CITN has a working relationship with the Association of National Accountants of Nigeria (ANAN) to promote XBRL recommendations and specifications in Nigeria.[5] The CITN is a member of the Financial Reporting Council of Nigeria.[6] The CITN is also a member of the International Tax Directors Forum (ITDF) and the Association of African Tax Institutes (AATI).
The Institute has continually been an architect for the professionalization of taxation in Nigeria and beyond. At every opportunity, CITN has made its positions known on topical issues not limited to economy, but also autonomy of various revenue collecting agencies, encouraging governments at various levels to lay emphasis on taxation as a more enduring source of revenue for national development. The Chartered Institute of Taxation of Nigeria trains and conducts examinations to determine eligibility of intending members. CITN has affiliations with the United Kingdom Chartered Institute of Taxation, the South African Institute of Tax Practitioners, the West African Union of Tax Institute and Association of National Accountants of Nigeria. It is also a member of the International Tax Directors Forum (ITDF), the Association of African Tax Institutes (AATI) and the Financial Reporting Council of Nigeria.
Council Members (2024/2025)
Samuel Olushola AGBELUYI, mni, FCTI President
Innocent Chinyere OHAGWA, FCTI Vice President
Simon Nwanmaghyi KATO, FCTI Deputy Vice President
Kolawole Ezekiel BABARINDE, FCTI Honorary Treasurer
Chief Adesina Adedayo, mni, FCTI Immediate Past President
Titilayo Eni-Itan FOWOKAN, (Mrs.) (Dr.), FCTI MEMBER
Godwin Emmanuel OYEDOKUN, (Prof.), FCTI MEMBER
Ruth Oluwabamike AROKOYO, (Mrs.) (Dr.), FCTI MEMBER
Isola Olurotimi AKINGBADE, FCTI MEMBER
Sheriff Adeyemi SANNI, (Dr.), FCTI MEMBER
Funsho Olutayo ABIDAKUN, FCTI MEMBER
Abubakar ZAID, (Dr.), FCTI MEMBER
Abiola Ruth ADIMULA, (Mrs.) (Dr.), FCTI MEMBER
Caroline Mary NDUBUISI, (Mrs.) (Dr.), FCTI MEMBER
Sule Adamu MAINA, FCTI MEMBER
Abba Kabir, FCTI Rep. Executive Chairman, FIRS
Mohammad Akaro MAINOMA, (Prof.), FCTI Rep. of Tertiary Education (Universities)
Adamu Bello LAWAL, ACTI Rep. of Tertiary Education (Polytechnics)
Okon OKON, FCTI Rep. of Joint Tax Board
Fatima Z. HAYATU (Hajia) Rep. of Federal Ministry of Finance
Ali Manga BULAMA, FCTI Rep. of North-Eastern Region
Chukwuemeka EZE, FCTI LEGAL ADVISERS
Abiodun A. OLATUNJI, (SAN), ACTI LEGAL ADVISERS
Titilola Anthonia AKINLAWON, (SAN), FCTI LEGAL ADVISERS
Layi BABATUNDE, (SAN), FCTI LEGAL ADVISERS
Charles Amajuoritse AJUYAH, (SAN), ACTI LEGAL ADVISERS
Abdulmumini Bala AHMED (Prof.), ACTI LEGAL ADVISERS
Mrs. Afolake OSO, FCTI AG. REGISTRAR/CHIEF EXECUTIVE
In the news
In March 2011, Prince Rasaq Adekunle Quadri, former President of the CITN, was elected the first President of the West African Union of Tax Institutes (WAUTI). WAUTI is the umbrella body of tax Institutes in the region.[7] In May 2011, Sebastian Owuama, President of Institute of Chartered Accountants of Nigeria, attended the annual tax conference of the CITN in Abuja where he called for an end to the squabble between ICAN and the CITN.[8] In June 2011, Sunday Jegede, president of the CITN, was elected first President of the Association of African Tax Institutes (AATI). The AATI was formally inaugurated in South Africa in October 2011 during the Annual Tax Conference of the South Africa Institute of Taxation.[9]
References
- ^ "About The Institute". Chartered Institute of Taxation of Nigeria. Retrieved 2011-06-01.
- ^ "President of the Chartered Institute of Taxation of Nigeria visits CIOT". Chartered Institute of Taxation. Archived from the original on 2011-09-27. Retrieved 2011-06-01.
- ^ "International Partners". South African Institute of Tax Practitioners. Retrieved 2011-06-04.
- ^ "Inauguration of West African Union of Tax Institutes". WAUTI. Archived from the original on 2012-03-24. Retrieved 2011-06-04.
- ^ "Nigeria". xbrlplanet. Retrieved 2011-06-04.
- ^ "Member Bodies". NASB. Archived from the original on 2011-09-28. Retrieved 2011-06-05.
- ^ "CITN IMMEDIATE PAST PRESIDENT BECOMES FIRST WAUTI PRESIDENT". CITN. 2011-03-16. Retrieved 2011-06-04.
- ^ IHEANYI NWACHUKWU (19 May 2011). "ICAN, CITN agree to down divide". Business Day (Nigeria). Archived from the original on 28 September 2011. Retrieved 2011-06-01.
- ^ Collins Nweze (2011-06-29). "CITN networks with global tax institutes". The Nation (Nigeria). Archived from the original on 2012-03-23. Retrieved 2011-06-29.
