AIESEC Alumni Nigeria, alongside the former Executive Chairman of the Federal Inland Revenue Service, Ifueko Okauru, has called on businesses, households and individuals to urgently study Nigeria’s new tax laws and invest in skilled tax professionals as the reforms become operational in January 2026.

Okauru, in her business lecture at the AIESEC Alumni Nigeria National Congress held on Saturday in Lagos, warned that ignorance of the consolidated tax legislation could expose businesses and families to avoidable risks.

The former FIRS boss, who is also the Group Chief Executive Officer of CPP Group, said, “The first step for the general public, particularly the private sector, is to read the laws. Numerous consultations took place during the work of the presidential committee led by Taiwo Oyedele. So, the tax laws represent, quite frankly, a part of what a lot of people wanted.”

Nigeria’s new tax laws will become operational by January 2026. President Bola Tinubu signed four reform bills into law on 26 June 2025: the Nigeria Tax Act, 2025; the Nigeria Tax Administration Act, 2025; the Nigeria Revenue Service (Establishment) Act, 2025; and the Joint Revenue Board (Establishment) Act, 2025.

These bills aim to streamline levies and eliminate multiple taxation across the federation.

Okauru added that, for the first time in decades, Nigeria had consolidated all related tax laws into a single framework. She decried the fact that many Nigerians still refer to outdated laws and risk misinterpreting their obligations.

“In the past, you could move from one law to the other, but now it’s all consolidated under one law.

Some people are still referring to the original Act without realising that it may not even be exactly the same,” she said. “People expect information, but they have not read the laws. That is my first advice.”

Okauru stressed that reading the laws was not enough, urging organisations and families to invest in tax professionals who can help them understand compliance requirements and structure their finances properly.

She explained, “The tax system is becoming more modern and professional. You need to invest in building the skills and knowledge to apply these laws to your own business. It’s not enough to go to a general conference. You should have your own in-house sessions and plan your tax strategy.”

The ex-FIRS chairman noted that the new laws touch individuals, households, companies and non-governmental organisations, warning Nigerians not to rely on hearsay or fearmongering about increased tax burdens.

“Some provisions in the law are better than what existed before, but people just pick what someone has said: ‘Ah, they will tax us more.’ That’s not the intention. Read it,” she insisted.

Okauru emphasised that Nigeria’s tax system must remain on a path of continuous improvement.

“What we have today in 2025 is better than what we had in 2010. What we had in 2010 was better than what we had in 1990. Do not relax,” she said.

She added that President Tinubu’s recent committee on tax policy implementation would continue to refine the system.

Beyond compliance, she urged citizens and businesses to maintain proper financial records, emphasising that documentation is essential for defending tax positions.

“Tax needs evidence. If you want an expense to offset your tax, keep your records. Put your receipts together,” she said.

She warned that many Nigerians still avoid proper record-keeping, relying instead on shortcuts to obtain tax clearance certificates.

Okauru also advised organisations to recruit the right people to manage their tax affairs, saying poor staffing could expose them to liabilities.

On tax education, she insisted that learning should start early. “We should teach taxes from primary school,” she said.

Members of AIESEC Alumni Nigeria appraised the new tax laws while addressing other issues in business leadership.

The President of AIESEC Alumni Nigeria, Marcel Mba, said the network had significantly impacted Nigeria’s workforce by producing professionals equipped with leadership and problem-solving skills.

He said, “AIESEC Alumni Nigeria contribute to the growth of the economy in producing a high-level workforce and intellectual skills. The economy has been impacted positively by the quality of graduates we produce.”

Mba noted that many alumni now serve in leadership roles across sectors, including the African Development Bank and Stanbic IBTC. He added that more than 30 per cent of members in the diaspora hold senior positions globally.

Mba, a supply chain professional, said the association would expand visibility over the next year through partnerships, including with the Outdoor Association of Nigeria, while developing programmes that target alumni, students and the wider public.

Additionally, the Chairman of the 2025 National Congress, Idris Yakubu, said this year’s deliberations centred on helping members understand the implications of the sweeping tax reforms.

He said, “Effective January, the whole gamut of taxation management in Nigeria will change. We thought we should focus on that so our members understand how taxation will impact us as individuals and businesses.”

He described Okauru as “one of the best brains in taxation in Nigeria”, adding that her presence was a major highlight of the Congress.

AIESEC Alumni Nigeria is a community of professionals who share common roots in AIESEC Nigeria and AIESEC chapters worldwide. It was founded in 1979.