President of the Chartered Institute of Directors (CIoD), Otunba Adetunji Oyebanji, yesterday said the increment in capital gain tax in the tax reform law to be implemented from January 2026, may be a disincentive for high capital investment.
He stated that this is an area the institute believes should be looked into ahead of the implementation of the new laws.
Oyebanji spoke in Lagos at a news conference to unveil the two-day conference of the institute themed “Leading Through Change: Building Sustainable and Inclusive Enterprises”, holding from Oct. 22 to Oct. 23 in Abuja.
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Daily Trust reports that the tax reform laws would take effect next year but there have been divergent views amidst concerns over multiple taxation.
However, Oyebanji stated that the tax laws while offering paths for reform of the tax system, there are some concerns especially with the deployment of technology for reporting.
“This technology could be a burden for smaller enterprises for them to manage the financial implications,” he said, adding that the institute continues to engage the tax authorities on some of the grey areas.
On the planned conference, he observed that enterprises and industries were shifting with unprecedented speed, while traditional business models were being challenged and public trust remained under constant scrutiny.
“This means seeking out diverse talent, fostering equity, and ensuring that representation is fair, nuanced, and reflective of society,” he said.
Notable speakers at the conference include Didi Walson-Jack, head of civil service of the federation, and Shamsuddeen Usman, chairman, Ministry of Finance Incorporated (MOFI).
Chairman of the national organising committee, Bimbo Ashiru, said Nigeria faced economic restructuring, digital acceleration, and demographic transitions.
He stressed that these shifts required leaders in both public and private sectors to act with clarity, foresight, and integrity.
Represented by Ronke Sokefun, Mr Ashiru said leaders must not only survive change but also guide others through it and build innovative, sustainable enterprises.
He explained that the 2025 conference would provide a platform to examine governance, enterprise, and national development issues.
Acting group head of marketing and corporate communications, First Bank, Olayinka Ijabiyi, reaffirmed the bank’s continued support for CIoD initiatives.
