Programme Officer, Tax Justice, Environment and Conservation of Nature, CISLAC/TI-N, Munachi Ugochukwu; Immediate Past-President, the Chartered Institute of Taxation of Nigeria , Dame Olajumoke Simplice; Executive-Director, Civil Society Legislative Advocacy Centre /Transparency International –Nigeria, Auwal Musa Rafsanjani and Deputy Registrar, CITN, Mrs.
He also believed that AfCFTA would help in diversifying Africa’s trade and encourage a move away from extractive commodities, such as oil and minerals, which have traditionally accounted for most of Africa’s trade. If the system is not properly perfected to key into AfCFTA, Akintoye warned that the agreement could lead to the choking of local SMEs, since consumers often prefer cheaper products.
“Many SMEs are likely to cut costs, including those related to manufacturing and the proper dumping of waste. Many African countries don’t have laws in place that protect patents, inventions and new processes. The laws they do have aren’t always strictly enforced. As a result, companies’ ideas often get stolen.”
For CITN President, Adesina Adedayo, AfCFTA has the potential of contributing greatly to the movement of capital, human resources, and facilitating investments across borders by laying the foundation for the establishment of a continental customs union at a later stage.