Taiwo Oyedele
By Bolatito Omowale
The Nigerian government has assured citizens that it won’t debit their bank accounts without a court order, according to Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee. This assurance comes amid concerns over alleged alterations to recently gazetted tax laws and fears of arbitrary account debits.
Oyedele emphasized that tax authorities can only recover unpaid taxes through a lengthy judicial process. This involves assessment, objection, and court approval, ensuring that citizens’ rights are protected. He clarified that the process is designed to be fair and transparent.
The “power of substitution” allowing tax authorities to recover funds from bank accounts is not new and already exists under current tax laws. However, this power can only be exercised after exhausting all legal avenues, including appeals to the Tax Appeal Tribunal, High Court, Court of Appeal, and Supreme Court.
Oyedele urged Nigerians to read the tax laws thoroughly and avoid selective interpretation, which has fueled unnecessary fear. He assured that the government is committed to transparency and fairness in tax administration.
The assurance has brought relief to many Nigerians who were concerned about the potential for arbitrary account debits. With this clarification, citizens can feel more secure about their financial transactions and bank accounts.
