BUSTED: New Evidence Shows How Oyedele Lied To Nigerians That New Tax Laws Won’t Auto-Debit Their Accounts (VIDEO)

The Chairman of the Bola Ahmed Tinubu Administration’s Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele lie has been exposed after a new video on Wednesday emerged that banks can automatically debit Nigerians’ accounts if they resist the new tax regime set to kick off next year.

Oyedele had on X earlier this week dismissed claims that Nigerians’ bank accounts will be frozen or automatically debited from January 2026, stressing that no provision in the newly signed tax and financial reform laws authorises the freezing or direct debiting of citizens’ bank accounts.

However, while speaking in an interview on Wednesday, Oyedele unconsciously revealed a clause (Power of Substitution) in the tax reforms set to take effect next year that automatically debits Nigerians who resist the new tax.

The government have overtime maintained that the proposed reforms will boost revenue and promote fiscal sustainability, however, critics argue they’ll hurt low-income earners and small businesses.

The major concerns are the proposed increase in VAT rate from 7.5% to 12.5% in 2026 and 15% in 2030, potentially aggravating poverty amid suffering in the country owing to government policies.

READ ALSO: Oyedele Unconsciously Reveals Clause That Auto-Debits Nigerians Who Resist New Tax Law (VIDEO)

Among other fears are regressive taxation, as VAT increases may unfairly impact poor households who spend a larger portion of their income on basic goods.