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Presidential Tax Reforms Committee Chairman Oyedele speaks on N5bn funds from FIRS

Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has clarified the payment of N5 billion to the Joint Tax Board from the Federal Inland Revenue Service.

Oyedele, in a statement through his official X handle, ensured that funds were intact and would be spent transparently for the country’s good.

His clarification comes following a report that N11 billion was allegedly paid into the account of JTB and contractors upon the exit of former FIRS Chairman Muhammad Nami.

But, Oyedele explained that the payment of over N4 billion to the JTB account by FIRS was to finance the Committee’s budget, which includes provisions for a national “Data for Tax” project, which the JTB has been championing for over two years.

He also noted that the funds would take care of the expenses of the Committee, including setting up offices for the Committee in Lagos and Abuja, payment of salaries, and logistics for over 70 members, 30 personnel, and over 40 students nationwide.

According to him, the funds are yet to be spent, and the Committee would be responsible and accountable for every Naira spent.

“All the expenses of the Committee are properly documented and available for audit. We collect receipts for fuel, stationeries, and virtually every Naira we spend to the extent possible.

“Over N4 billion of the funds transferred by the FIRS to the JTB for the Committee’s work is yet to be spent and very much intact in the JTB account. We will be responsible, prudent and accountable with every Naira of public funds entrusted with,” he said.

Earlier, Nami clarified why FIRS transferred N5 billion to JTB.

DAILY POST recalls that on August 8th, President Bola Ahmed Tinubu inaugurated the Presidential Fiscal Policy and Tax Reforms Committee to drive revenue generation in Nigeria.