🏦 ‘We Can Debit Your Account’: Tax Boss Oyedele Unveils New Intelligence System to Catch Tax Cheats
Taiwo Oyedele, the Chairman of the Presidential Committee on Tax Reforms, has offered a stern warning to major tax evaders, detailing how the government’s new tax-intelligence system will track undeclared wealth and enforce compliance.
Speaking on The Micon Podcast, Oyedele explained that the upcoming framework, set to take effect next year, will eliminate old-style harassment by using advanced data analysis to identify high-level fraud.
Tracking the Financial Footprint
Oyedele stated that the new system will aggregate a person’s financial life to create an accurate tax profile. This will involve analyzing data across several points:
Bank transactions
International travel records
Payment card usage
Electricity consumption
Phone activity
He clarified that the system is not designed to target low-income earners, stressing: “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.”
Direct Debit for Defaulters
The Tax Chairman warned that once the intelligence system identifies significant, unexplained financial movements, the taxpayer will be expected to justify the discrepancy. Under the new tax law, failure to explain a tax shortfall can lead to direct enforcement.
Oyedele issued the stark warning:
“IF YOU CANNOT EXPLAIN YOURSELF, IF YOU HAVE A BANK ACCOUNT, WE CAN DEBIT YOUR BANK ACCOUNT.”
He further emphasized: “If the system confirms you owe one million naira in taxes and you can’t explain it, we can debit your bank account.”
This new model, according to Oyedele, is a move away from aggressive, old-fashioned enforcement, as the country is shifting from “using hammers and nails to cha§e people for tax” to a more professional, data-driven approach.
