The chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has denied reports suggesting that he described the tax regulation currently in circulation as fake. Oyedele made the clarification on Wednesday while speaking on Arise Television’s Morning Show, following claims that key provisions of the tax law had been altered.

Oyedele explained that during a media interview, a reporter had drawn his attention to differences between sections of the law as published in the official Gazette and a harmonised version attributed to the National Assembly. The reporter had asked whether the discrepancies amounted to alterations. Prior to that interview, Oyedele had come across reports alleging that several sections of the law were substantially altered, with the impression given that the claims originated from a House of Representatives committee investigating the matter.

However, Oyedele became suspicious after noticing that one of the cited sections did not exist in the Gazette. He contacted a lawmaker said to be on the investigating committee, who told him that the committee had not even met. Oyedele stated that his response was misunderstood, and he never said that the regulation in circulation was fake. Instead, he expressed concerns about discussing alleged alterations without knowing their source.

Oyedele’s clarification comes amid controversy surrounding the tax law, with some reports suggesting that key provisions had been altered. The chairman’s comments were initially reported as suggesting that the Gazette in circulation was fake, but he has now set the record straight. The incident highlights the importance of verifying information through official channels to avoid spreading misinformation.

The tax regulation in question has been a subject of discussion in recent days, with some stakeholders raising concerns about its implementation. The Presidential Fiscal Policy and Tax Reforms Committee is responsible for overseeing the development and implementation of tax policies in the country. As the committee’s chairman, Oyedele’s comments carry significant weight, and his clarification is likely to reassure stakeholders and provide clarity on the matter.

The controversy surrounding the tax law is a reminder of the need for transparency and accountability in the development and implementation of tax policies. As the government continues to work on implementing the tax regulation, it is essential that stakeholders have access to accurate and reliable information to ensure a smooth implementation process.