Boma Achenimie 
The Institute of Chartered Accountants of Nigeria (ICAN) on Saturday applauded President Bola Tinubu for signing into law four comprehensive tax reform bills.
Describing the move as a bold and timely step toward modernising Nigeria’s fiscal and revenue systems, the 61st President of ICAN, Malam Haruna Yahaya, praised President Tinubu’s administration for undertaking a “Novel holistic review” of outdated tax laws, many of which had not been amended in over five decades.
Yahaya made this commendation during the investiture ceremony of Sani Danbaba as the 5th Chairman of ICAN Gwagwalada and District Society, held in Gwagwalada, Federal Capital Territory (FCT).
Represented by Matthias Dafur, a council member of the institute, Yahaya said, “These reforms will bring significant relief to low-income earners and create a more efficient and inclusive tax system. The President deserves commendation for his decisive leadership.”
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Sunday Telegraph had earlier reported that President Tinubu assented to the following four bills at a ceremony held at the Aso Rock Presidential Villa, Abuja, on Thursday.
The bill includesthe Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, Joint Revenue Board (Establishment) Bill
The bills passed by the National Assembly after extensive consultations with key stakeholders aim to streamline Nigeria’s tax administration, enhance revenue generation, and reduce tax compliance burdens, particularly for small and medium-scale enterprises.
The occasion also marked the formal inauguration of the Executive Committee of the Gwagwalada District Society, with the new chairman, Sani Danbaba, pledging to prioritise support for micro, small, and medium enterprises (MSMEs) within the community.
“Our focus will be to empower local entrepreneurs and add value to their operations. Over 60% of Nigeria’s economic activities are driven by MSMEs, and we must support their growth,” Danbaba stated.
Outgoing district chairman, Sosanwo Akinwunmi, congratulated the new executive team and encouraged them to build on the district’s past achievements and elevate the society’s impact.
