Oyedele Taiwo

Information gathered by Throwback Times, a wave of concern has spread among Nigeria’s high-net-worth individuals following a new warning issued by Taiwo Oyedele, Chairman of the Presidential Committee on Tax Reforms.

Oyedele has directed wealthy Nigerians to visit any tax branch before January 2026 and explain their sources of income or risk constant debits from their bank accounts under the country’s new tax-intelligence enforcement system.

Speaking during an appearance on The Micon Podcast, Oyedele revealed that Nigeria’s upgraded tax-tracking framework will analyse several aspects of personal financial behaviour to detect possible tax evasion.

 “Unexplained Millions May Trigger Account Debits” Oyedele said. A Multi-Layered Financial Surveillance System. According to him, the system will automatically pull data from:

a. Bank transactions

b. International travel history

c. Debit/credit card usage

d. Electricity consumption

e. Mobile phone activity


These indicators will allow the government to build a detailed financial profile for each taxpayer.

Low-Income Nigerians Not Targeted

Oyedele clarified that the system is not designed to persecute small earners or those with minor spending discrepancies.

 “No one is coming after you if you earn 50 thousand and spend 90 thousand. That’s not the focus. The real target is the big figures,” he stated.

New Law Enables Direct Account Debit

Under the new tax law to be implemented next year, bank accounts may be debited once the system detects significant, unexplained financial movements and tax discrepancies.

He warned:

 “IF YOU CANNOT EXPLAIN YOURSELF, IF YOU HAVE A BANK ACCOUNT, WE CAN DEBIT YOUR BANK ACCOUNT.”

Oyedele further explained that if the system verifies that an individual owes ₦1 million in taxes and cannot justify their income sources, authorities now have the power to deduct the amount directly.

Shift to Intelligence-Driven Tax Enforcement

He emphasized that Nigeria is transitioning from harsh, forceful tax enforcement to a more structured, technology-driven system.

According to him, the country is moving away from “using hammers and nails to chase people for tax.”

Source: Throwback Times