We’ve Reformed Our Tax System, Others-Gov. Abiodun

The Ogun State Governor, Prince Dapo Abiodun, has revealed that his administration has carried out several reforms, aimed at eliminating bottlenecks and making Ease of Doing Business seamless in the State.

Abiodun made this disclosure in Lagos while speaking at the investiture of the new President, Institute of Chartered Accountant of Nigeria (ICAN), Mrs. Olujumoke Eyitayo, maintaining that the focus of his government was premised on Infrastructure, Social wellbeing, Education, Youth Empowerment and Agriculture (ISEYA).

“We’ve reformed our tax system, we’ve harmonised taxes and levies so that we can avoid multiple taxation and make the tax regime very transparent and provided for online payment and filling of tax returns.

Other elements of the financial reforms according to Prince Abiodun, include the adoption of the Medium-Term Expenditure Framework (MTEF), Medium-Term Revenue Strategy (MTRS), as well as establishment of the Fiscal Responsibility Commission, for prudent financial management and efficient allocation of government resources, to provide long-term stability for the economy.

“We have also implemented the International Public Sector Accounting System (IPSAS), Treasury Single Account (TSA), Billing and Payment Management System (BPMS), while a reliable and up-to-date data are in place with the establishment of Bureau of Statistics and the first Statistician-General, as part of our financial system reforms’’.

The State helmsman lauded the Institute for its contributions to national development, pointed out that the professional body has continued to set standards for accounting practice and observed that the brilliant antecedent exhibited by Mrs. Eyitayo has earned her the current position.

Also speaking, his Lagos State counterpart, Mr. Babajide Sanwo-Olu, represented by the Commissioner for Finance, Mr. Rabiu Olowo commended the organisation for upholding the standard and professional ethics in both public and private sectors, saying the election of the ICAN new President was a befitting reward for her contributions to the Institute.

In her acceptance speech, Mrs. Eyitayo, said her investiture marks the fulfilment of a dream which spanned more than 40 years ago, adding that she was ready to serve with dignity and honour to reposition the profession.

Eyitayo noted that a crusade for a new and rejuvenated body would be established to address unemployment challenge by creating a centre to train youths to be self-reliant, sponsor more research works and liaise with government to tackle economic and insecurity.