₦airaland Forum

The 7 Dangerous Blunders of Taxman Taiwo Oyedele That Almost Destroyed Nigeria
Here are the most outrageous and anti-people proposals that came out of Taiwo Oyedele’s so-called “tax reform” — every single one of them either distorted, exaggerated, or outright rejected by the government because Nigerians shouted loud enough:
1. Forcing every Nigerian earning above ₦850,000 per year (just ₦70,833/month or $48/month) to file tax returns — taxing survival itself.
2. Demanding that citizens explain and account for every kobo in their personal bank accounts like common criminals.
3. Threatening to grant the taxman direct access to snoop into your private bank accounts without restraint.
4. Imposing punishing Capital Gains Tax of up to 30–50% on the sale of shares and assets — a direct attack on investors and the stock market.
5. Absurdly claiming that commercial sex workers would be chased and taxed — turning moral grandstanding into revenue strategy.
6. Attempting to make Capital Gains Tax retrospective — taxing gains you already made before the law even existed.
7. Declaring that no matter where your income comes from in the world, Nigeria will tax it — double taxation on steroids.
Every one of these toxic ideas has either been watered down, outright dropped, or is now under urgent review by the new Tegbe-led committee.
Taiwo Oyedele tried to turn Nigeria into a tax hell.
We said NO — and the government is finally listening.
But the man who brought us this nightmare still walks free without a single apology.
#OyedeleMustGo


https://www.thisdaylive.com/2025/12/06/fg-to-review-capital-gains-law-address-concerns-in-new-tax-policy/

https://www.facebook.com/NigerianTribune/videos/3206010349568286/

But that's because he knew Nigerians will figure out a way not to pay any of the taxes or pay a small bribe and get clearance

The ideas were not Oyedele's but government proposal which he was asked to coordinate.

So the government should go too?

Mankind2024:
The 7 Dangerous Blunders of Taxman Taiwo Oyedele That Almost Destroyed Nigeria
Here are the most outrageous and anti-people proposals that came out of Taiwo Oyedele’s so-called “tax reform” — every single one of them either distorted, exaggerated, or outright rejected by the government because Nigerians shouted loud enough:
1. Forcing every Nigerian earning above ₦850,000 per year (just ₦70,833/month or $48/month) to file tax returns — taxing survival itself.
2. Demanding that citizens explain and account for every kobo in their personal bank accounts like common criminals.
3. Threatening to grant the taxman direct access to snoop into your private bank accounts without restraint.
4. Imposing punishing Capital Gains Tax of up to 30–50% on the sale of shares and assets — a direct attack on investors and the stock market.
5. Absurdly claiming that commercial sex workers would be chased and taxed — turning moral grandstanding into revenue strategy.
6. Attempting to make Capital Gains Tax retrospective — taxing gains you already made before the law even existed.
7. Declaring that no matter where your income comes from in the world, Nigeria will tax it — double taxation on steroids.
Every one of these toxic ideas has either been watered down, outright dropped, or is now under urgent review by the new Tegbe-led committee.
Taiwo Oyedele tried to turn Nigeria into a tax hell.
We said NO — and the government is finally listening.
But the man who brought us this nightmare still walks free without a single apology.
#OyedeleMustGo

Nlfpmod please move this thread to the front page.


The whole tax law was mostly ridiculous.


How can 80,000 naira monthly income equate to being rich according to Oyedele, is he not in Nigeria and seeing the hyperinflation that makes 80,000 naira income the least income for a single Nigerian to survive? He called survival income a rich man's income that deserved heavy taxation?


Nigeria is struggling with increased poverty, massive youth unemployment and underemployment, crippling businesses due to low purchasing power of Nigerians, plus high level of insecurity, and the only way these bandits in government thought of helping Nigerians come out of the wood they pushed them into was to introduce devilish tax law even when Nigerians benefit virtually nothing from the government.


No government supplied clean water.

No constant electricity.

No good roads

No security.

No free national health scheme.

No food stamps and free food outlets for the poor.


No government owned shelters for the homeless.

No government incentives for small and medium scale business owners.


No business loans or grants.


You squander our crude oil resources.


You allow foreigners to use insecurity to plunder our solid mineral resources in the North.

All you could think of is how to tax Nigerians more into poverty and penury.


This new tax law might be the last stroke that will break the camels back for APC next year, let's watch and see

When someone is sent on a slave’s errand, they perform it with the laziness/indifference of a child (or with a child’s half-hearted effort)

Salewa97:
The ideas were not Oyedele's but government proposal which he was asked to coordinate.

So the government should go too?

The government is listening.

This is why this government is called a democracy,sir.
Say your say and let the majority have their way especially those of them in govt.
Even as you cannot prove everything you have written,90% of Oyedele tax trajectories are positively on the right track.
Life is all about win some,lose some.
Nobody and nothing is perfect except The Omnipotent.

1. The soon-to-be-phased-out tax regime requires everyone earning N30,000+ to pay tax.

2. This is simply an assumption — it’s practically impossible.

3. What do you mean by “private bank accounts”? The CBN regulates all banks.

4. This is true, but the authorities are dragging their feet on making a final decision, and the delay continues to hurt the market. The government needs to act; market participants dislike uncertainty.

5. Again, this is practically impossible.

6. I have no information about this, and I haven’t come across anything that confirms it — though it’s possible you may be right.

7. There’s nothing wrong with it as long as the income is taxable. Most countries are optimizing their tax systems to boost revenue, and this is one of the avenues through which they can achieve that.

They should have locked him up while we do the 3 months analysis of the tax plan. That would have been better.

The man and his committee was given 4.5 billion just to review tax laws. So why would such a person not think that 70k a month should pay tax. That people should explain every kobo even money you send to your parents

There's always a potential for continuous improvement.

Mankind2024:
The 7 Dangerous Blunders of Taxman Taiwo Oyedele That Almost Destroyed Nigeria
Here are the most outrageous and anti-people proposals that came out of Taiwo Oyedele’s so-called “tax reform” — every single one of them either distorted, exaggerated, or outright rejected by the government because Nigerians shouted loud enough:
1. Forcing every Nigerian earning above ₦850,000 per year (just ₦70,833/month or $48/month) to file tax returns — taxing survival itself.
2. Demanding that citizens explain and account for every kobo in their personal bank accounts like common criminals.
3. Threatening to grant the taxman direct access to snoop into your private bank accounts without restraint.
4. Imposing punishing Capital Gains Tax of up to 30–50% on the sale of shares and assets — a direct attack on investors and the stock market.
5. Absurdly claiming that commercial sex workers would be chased and taxed — turning moral grandstanding into revenue strategy.
6. Attempting to make Capital Gains Tax retrospective — taxing gains you already made before the law even existed.
7. Declaring that no matter where your income comes from in the world, Nigeria will tax it — double taxation on steroids.
Every one of these toxic ideas has either been watered down, outright dropped, or is now under urgent review by the new Tegbe-led committee.
Taiwo Oyedele tried to turn Nigeria into a tax hell.
We said NO — and the government is finally listening.
But the man who brought us this nightmare still walks free without a single apology.
#OyedeleMustGo


https://www.thisdaylive.com/2025/12/06/fg-to-review-capital-gains-law-address-concerns-in-new-tax-policy/

Implementing of WHT tax on treasury bill for investment done before the announcement .Total Madness

Tinibu n oyedele must go.. incompetent old fools

Nigeria has been an oil-producing country for decades, yet most citizens can’t point to anything meaningful that came from all that money. No good roads, working schools, working hospitals, steady light, or real opportunities. But you see politicians living large. You see waste everywhere. You see the same story year after year.

Now the government wants to introduce a new tax regime. The same citizens who are already struggling with high prices, low income, and zero support will pay more money. And nobody can say how the government will use that money. There’s no trust. There’s no proof of accountability. There’s no history of responsible management.

So what is the moral basis for demanding more taxes from people who have never enjoyed the benefits of the oil wealth that should have changed their lives? How do you ask citizens to pay more when the people in charge haven’t shown that they can handle what’s already available?

Before any new tax structure makes sense, the government should show real transparency. Nigerians need to see where money goes. They need to see projects completed. They need to see consequences for corruption. You can’t ask people who are barely surviving to bring out more money just to feed the same system that has failed them.

Until there’s trust, accountability, and visible results, pushing a new tax regime feels unfair. And it raises a simple question: Why should citizens keep paying into a system that doesn’t give anything back?

Private bank account/ personal bank account/ non-business acct.
The new committee signaled lack of confidence in Taxman Taiwo Oyedele reform.
Note the statement***Opt for RESPONSIBLE, HUMANE APPLICATION****

https://www.thisdaylive.com/2025/12/06/fg-to-review-capital-gains-law-address-concerns-in-new-tax-policy/

lionshare:
1. The soon-to-be-phased-out tax regime requires everyone earning N30,000+ to pay tax.

2. This is simply an assumption — it’s practically impossible.

3. What do you mean by “private bank accounts”? The CBN regulates all banks.

4. This is true, but the authorities are dragging their feet on making a final decision, and the delay continues to hurt the market. The government needs to act; market participants dislike uncertainty.

5. Again, this is practically impossible.

6. I have no information about this, and I haven’t come across anything that confirms it — though it’s possible you may be right.

7. There’s nothing wrong with it as long as the income is taxable. Most countries are optimizing their tax systems to boost revenue, and this is one of the avenues through which they can achieve that.

In summary, there is a wide disconnect between the ruled and their rulers

1Alex:
Nigeria has been an oil-producing country for decades, yet most citizens can’t point to anything meaningful that came from all that money. No good roads, working schools, working hospitals, steady light, or real opportunities. But you see politicians living large. You see waste everywhere. You see the same story year after year.

Now the government wants to introduce a new tax regime. The same citizens who are already struggling with high prices, low income, and zero support will pay more money. And nobody can say how the government will use that money. There’s no trust. There’s no proof of accountability. There’s no history of responsible management.

So what is the moral basis for demanding more taxes from people who have never enjoyed the benefits of the oil wealth that should have changed their lives? How do you ask citizens to pay more when the people in charge haven’t shown that they can handle what’s already available?

Before any new tax structure makes sense, the government should show real transparency. Nigerians need to see where money goes. They need to see projects completed. They need to see consequences for corruption. You can’t ask people who are barely surviving to bring out more money just to feed the same system that has failed them.

Until there’s trust, accountability, and visible results, pushing a new tax regime feels unfair. And it raises a simple question: Why should citizens keep paying into a system that doesn’t give anything back?

The FG is doing the right thing by reviewing the tax policy. The initial proposal was too extreme and did not consider the realities of the average Nigerian.

I still think Taiwo Oyedele is a good guy, he just made some blunders.

Blunder that almost wrecked the NGX
A “good man” who lacks humanity?
The new committee has effectively passed a vote of no confidence in your so-called good man.
Perhaps you should have called him an intelligent man with zero empathy for suffering Nigerians.

odejimioflagos:
The FG is doing the right thing by reviewing the tax policy. The initial proposal was too extreme and did not consider the realities of the average Nigerian.

I still think Taiwo Oyedele is a good guy, he just made some blunders.

odejimioflagos:
The FG is doing the right thing by reviewing the tax policy. The initial proposal was too extreme and did not consider the realities of the average Nigerian.

I still think Taiwo Oyedele is a good guy, he just made some blunders.

He is a rich man cut away from realities of suffering Nigeria. I can bet he doesn't know no human can survive on 70k a month not to talk of a family. That is how majority of Nigerian leaders are, they live in another world far away from realities

I know it will backfire. It's implementation will be an huge failure

I used to hold Taiwo Ayodele in highest esteem when he provided critical analysis of this govt's economic failure via his Twitter handle. Unfortunately he cowed into tax reform committee. He sold his conscience, his integrity, independence and professionalism as a chartered accountant of international repute.

So, I can see that education doesn't change evil mindset of average Nigerians. Whether educated or none once they re offered money, they conscience becomes corrupted and biased

I was shocked when he proposed that there will be gradual increase of VAT rate from 7.5% to 15% within 3 years. Them I asked myself is it not same man that was criticizing for hyperpigmentation in tinubu regime. Why advocating for increase in vat rate.

Nigerians are main causes of our problems

The new tax law is meant to exploit mainly hard working southerners.
Period

franchasng:
Nlfpmod please move this thread to the front page.


The whole tax law was mostly ridiculous.


How can 80,000 naira monthly income equate to being rich according to Oyedele, is he not in Nigeria and seeing the hyperinflation that makes 80,000 naira income the least income for a single Nigerian to survive? He called survival income a rich man's income that deserved heavy taxation?


Nigeria is struggling with increased poverty, massive youth unemployment and underemployment, crippling businesses due to low purchasing power of Nigerians, plus high level of insecurity, and the only way these bandits in government thought of helping Nigerians come out of the wood they pushed them into was to introduce devilish tax law even when Nigerians benefit virtually nothing from the government.


No government supplied clean water.

No constant electricity.

No good roads

No security.

No free national health scheme.

No food stamps and free food outlets for the poor.


No government owned shelters for the homeless.

No government incentives for small and medium scale business owners.


No business loans or grants.


You squander our crude oil resources.


You allow foreigners to use insecurity to plunder our solid mineral resources in the North.

All you could think of is how to tax Nigerians more into poverty and penury.


This new tax law might be the last stroke that will break the camels back for APC next year, let's watch and see

When you people display your stupidity online like this , it is really intresting to see.

You are not comparing the law to the one it is replacing.

By the current law, even if you earn 20k a month you will still pay taxes. How is it now wrong that the threshold was moved to 80k.

Capital gains tax is a standard in most serious country, we want progress, but we dont want change.