Taiwo Oyedele, the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has responded to reports regarding the payment of N5 billion to the Joint Tax Board (JTB) from the Federal Inland Revenue Service (FIRS).
In a statement released through his official X handle, Oyedele assured the public that the funds are intact and will be utilized transparently for the benefit of the country.
His clarification comes in light of allegations that N11 billion was paid into the JTB account and distributed to contractors upon the departure of former FIRS Chairman, Muhammad Nami.
However, Oyedele explained that the payment of over N4 billion to the JTB account by FIRS was intended to finance the Committee’s budget, which includes provisions for the national “Data for Tax” project, a long-standing initiative spearheaded by the JTB.
He further stated that the funds will cover the Committee’s expenses, such as establishing offices in Lagos and Abuja, salaries, and logistics for over 70 members, 30 personnel, and 40 students across the country.
Oyedele emphasized that the funds have yet to be spent and assured the public that the Committee will be responsible and accountable for every Naira disbursed.
“All the expenses of the Committee are meticulously documented and readily available for audit. We maintain receipts for fuel, stationery, and virtually every expenditure we make, to the best of our abilities.
“The funds amounting to over N4 billion, transferred by FIRS into the JTB account for the Committee’s work, are still intact. We will exercise utmost responsibility, prudence, and accountability in managing every Naira of public funds entrusted to us,” said Oyedele.
Earlier, Muhammad Nami clarified the reasons behind FIRS’s transfer of N5 billion to JTB.
It is worth noting that President Bola Ahmed Tinubu inaugurated the Presidential Fiscal Policy and Tax Reforms Committee on 8th August, with the aim of driving revenue generation in Nigeria.
