The Lagos & District Society of the Chartered Institute of Taxation of Nigeria (CITN) achieved a notable 28% increase in total income during the 2025 financial year, demonstrating robust financial management and strong member support.
The positive results were announced ahead of the district’s 26th Annual General Meeting, which took place at the Tax Professionals’ House in Alausa, Ikeja.
According to the Executive Committee’s financial report, the revenue surge was driven by higher member contributions, increased corporate sponsorships, successful fundraising initiatives, and the implementation of a more efficient digital subscription system via the district’s online portal.
Treasurer Highlights Discipline and Dedication
Dr. Ganiyu Oluwashola, the Honorary Treasurer, expressed confidence in the district’s strengthened financial position.
“We met and exceeded our fiscal goals despite economic winds. This 28 per cent growth in our incoming revenue reflects disciplined financial oversight and an unwavering dedication from our members,” he said.
He noted that the improved inflows enabled the district to meet all statutory obligations while building a solid foundation for future leadership.
Significant Membership Growth
Under the leadership of the 19th Chairman, Mr. Iniobong Esau, the district also expanded its active membership base from 498 to 658 members over the past year. This growth included the induction of 97 new tax professionals and several upgrades to fellowship status.
Esau credited the dual achievements in revenue and membership to collective commitment and strategic partnerships. He thanked members for their support in maintaining essential operations, including hybrid virtual systems and staff welfare, despite prevailing economic realities.
Key Initiatives Funded
The enhanced financial position supported several flagship professional programmes, most notably the 20th Annual Tax Week and Symposium. The event featured senior tax partners from leading firms such as KPMG, Deloitte, and EY, who discussed Nigeria’s evolving tax landscape.
Looking ahead, Mrs. Yetunde Olowofoyeku, Vice Chairman and Head of the AGM Planning Committee, said the strong financial health would allow the district to scale up its corporate social responsibility activities and expand its influence on regulatory matters across the federation.
The impressive performance of the Lagos CITN District underscores the growing professionalism and resilience of the tax community in Nigeria’s commercial capital, even in a challenging economic environment.
