Mr. Samuel Agbeluyi, the President of the Chartered Institute of Taxation of Nigeria, has charged incoming tax professionals to see their roles as critical to shaping Nigeria’s fiscal policies and building a more efficient tax system.

Agbeluyi gave the charge on Tuesday at the opening of the April 2025 Pre-Induction Orientation Programme held in Abuja.

While addressing participants, the CITN President said the orientation marked not just a personal achievement for inductees but the beginning of a greater national responsibility.

According to him, “Ultimately, it is expected that at the end of this programme and the induction thereafter, the number of tax professionals in the roll call of the CITN and indeed Nigeria would grow.

“Most importantly, more professionals would be added to the struggle of building an efficient and effective tax system in Nigeria, whilst influencing government fiscal policies and adding immense value to various stakeholders.”

Agbeluyi stated that the institute’s charter empowers it to determine the standard of knowledge and skills required to become a professional in the field, adding that the training was a deliberate step towards producing competent tax administrators capable of delivering value in the Nigerian economy.

He also noted that facilitators had been carefully selected from among experienced tax professionals and administrators to guide inductees using practical scenarios.

In her remarks, the Deputy Director of the CITN Tax Academy, Mrs Yetunde Suleiman, said the training was designed to expose participants to key developments in national and international tax administration, as well as emerging issues in the digital economy.

She noted that taxation remained central to Nigeria’s economic development and urged the inductees to take their training seriously in light of growing challenges in the country’s tax system, such as evasion, ambiguity of laws and high compliance costs.

Suleiman said, “There is a continuous need to produce, train and unleash qualified tax professionals to tackle these hydra-headed tax challenges.”

She urged participants to approach the sessions with enthusiasm, noting that the knowledge acquired would prepare them to become ambassadors of the institute and sound professionals equipped to drive reform in the tax space.

Union Bank has again demonstrated its commitment to youth development and quality education by sponsoring the 11th edition of the Greensprings Football Academy.

L-R: Bukola Ayeni, Lead External Communications, Union Bank of Nigeria; West Bromwich Albion Football Club coaches; Mrs Lai Koiki, Founder and CEO, Greensprings School and participants of the 11th Greensprings Football Camp sponsored by Union Bank of Nigeria under its Edu360 initiative at the school’s Awoyaya campus in Lekki, Lagos recently.

The five-day training camp, held from April 13 to April 17, 2025, at the School’s Lekki campus, catered to children aged 5 to 17.

Participants received expert coaching from top international coaches affiliated with the West Bromwich Albion Football Club, Dutch Football Association and the English Football League (EFL), alongside support from coaches from the Lagos State Football Association and Nigerian football legend Victor Ikpeba, “The Prince of Monaco.”

The closing ceremony, held on April 17, 2025, was graced by notable guests from the football community, including Lagos State FA Chairman Laimeed Gafar with Samuel Jake Whitmore, Jordan Hall and Owen Jones, West Bromwich Albion coaches.

During the closing ceremony, Bukola Ayeni, Lead External Communications, Union Bank of Nigeria, stated, “Union Bank is a sponsor in the Greenspring Football Academy under our Edu360 initiative, which aligns with one of our core values of being Community Focused.

Edu360 is the Bank’s initiative to promote quality education, whether formal or informal, which includes sports and supports SDG 4 on Quality Education.

With 108 years of legacy of being Nigeria’s most reliable and trusted partner, the Bank’s Edu360 Initiative demonstrates our unwavering commitment to investing in the leaders of today and tomorrow.”

Mrs Lai Koiki, the Founder and CEO of Greensprings School, mentioned, “We are being future-ready, we are preparing the youth for the future for football and leadership.”

Victor Ikpeba lauded the school’s effort and sponsors, stating, “This is a school that empowers boys and girls in education, especially football.”

The Greensprings Football Academy has a proven record of producing professional players, with some graduates playing for the Under-17 National Team of Nigeria.

This year, the top students, Alabi Aliami and Ayodeji Boluwatife, were awarded additional virtual training sessions with the coaches, amongst other benefits.

The success of the Greensprings Football Academy underscores the unifying power of football across cultures and nations.

Union Bank remains dedicated to fostering youth development and quality education through initiatives like the GreenSprings Football Academy.

Debt Management Office (DMO) has announced the reopening of two Federal Government of Nigeria (FGN) bonds for public auction, with a total value of N350 billion, offering units at a subscription price of N1,000 each.

The savings bonds are designed for retail investors and come with guaranteed quarterly interest payments and full repayment of the principal at maturity.

According to a statement released on Wednesday, April 23, the auction is scheduled for April 28, with settlement on April 30. The bond offers will be issued in two tranches. The first tranche comprises a N200 billion five-year bond due to mature in April 2029 with an annual interest rate of 19.3 percent. The second tranche is a N150 billion nine-year bond set to mature in May 2033, carrying an annual interest rate of 19.89 percent.

Each bond unit is priced at N1,000, with a minimum subscription of N50,001,000 and subsequent subscriptions in multiples of N1,000. For these reopened issues, where the coupon rates are already fixed, successful bidders will pay an amount corresponding to the yield-to-maturity that clears the auction volume, in addition to any accrued interest on the bond.

Interest payments will be made semi-annually, with the full principal repaid in a single bullet payment at maturity. The DMO emphasized that these savings bonds qualify as government securities under the Trustee Investment Act and are recognized for tax exemptions under both the Company Income Tax Act (CITA) and the Personal Income Tax Act (PIA), making them attractive for pension funds and other institutional investors.

The bonds are also listed on the Nigerian Exchange Limited and the FMDQ OTC Securities Exchange and qualify as liquid assets for liquidity ratio calculations for banks. Backed by the full faith and credit of the Federal Government of Nigeria, the bonds are secured against the nation’s general assets.

The DMO encouraged interested investors to contact any of the designated Primary Dealer Market Makers (PDMMs) to participate in the auction. This initiative follows a similar reopening of FGN bonds worth N300 billion in March.