Bank Directors Association of Nigeria, BDAN has called on the Presidential Fiscal Policy and Tax Reforms Committee to ensure inclusive implementation of the proposed tax reforms bills.
BDAN Chairman, Mr. Mustafa Chike-Obi made this call during a meeting with Mr. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy & Tax Reforms Committee.
Search for:
Search
Home
News
Politics
Metro
Business
Sports
Editorial
Columns
Allure
E-Editions
Business
December 11, 2024
Tax Reforms: BDAN meets Presidential committee, urges inclusive implementation
Tax Reforms: BDAN meets Presidential committee, urges inclusive implementation
By Babajide Komolafe
Bank Directors Association of Nigeria, BDAN has called on the Presidential Fiscal Policy and Tax Reforms Committee to ensure inclusive implementation of the proposed tax reforms bills.
BDAN Chairman, Mr. Mustafa Chike-Obi made this call during a meeting with Mr. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy & Tax Reforms Committee.
Chike-Obi, led a delegation of BDAN members to the meeting, which focused on the proposed Tax Reform Bills—The Nigeria Tax Bill HB. 1759 and The Nigeria Tax Administration Bill 2024 HB. 1756—and their implications for the banking industry.
During the discussions, BDAN commended the Committee’s commitment to addressing Nigeria’s fiscal challenges. The proposed reforms, according to the Association, present an opportunity to eliminate inefficiencies and lay the groundwork for a more resilient and competitive economy.
Mr. Mustafa Chike-Obi reiterated BDAN’s commitment to policies that strengthen Nigeria’s financial ecosystem.
“As an association, we are aligned with initiatives that promote fiscal accountability and support sustainable economic growth. While we have no fundamental issues with the proposed reforms, it is imperative to ensure that their implementation is inclusive and considers the nuances of the banking sector,” he said.
He emphasised the importance of consultation and continuous dialogue, adding, “The banking industry thrives on stability and trust. We urge the Committee to maintain open channels of communication, ensuring that reforms are both effective and equitable. Collaboration is key to achieving the common goal of a stronger economy.”
Echoing this sentiment, BDAN’s Chief Executive, Adebukola Orenuga highlighted the importance of stakeholder engagement in shaping fiscal reforms. “Tax policy should be a shared vision between the government and the private sector. As representatives of the banking sector, we are committed to providing constructive input that will help create an enabling environment for businesses and individuals alike,” she said. Mr. Taiwo Oyedele welcomed the Association’s input and stressed the importance of active participation from stakeholders during the policymaking process. “We extended invitations to public hearings earlier in the process, but unfortunately, many stakeholders did not respond. However, moving forward, we encourage more proactive engagement to ensure policies are well-rounded and inclusive,” he remarked.
0
0
0
0
0
0
Disclaimer: Every member is solely responsible for the content that they publish on Nigerpress. The accuracy and completeness of opinions, information, and statements shared or expressed by our members or third parties are not endorsed or guaranteed by Nigerpress.
