31/12/2025
👊👊👊
What I’m about to explain here is not rumor.
It is not WhatsApp broadcast.
It is not “they said”.
One of my Followers sent me a video on Instagram.
It came directly from the Chairman of the fiscal policy and tax reform committee himself, in an interview.
And if you understand what he said, you will realize what I have been saying:
Nigeria has quietly entered a NEW era of tax intelligence.
No noise.
No drama.
No tax officers will be chasing people with sticks.
Just systems.
The chairman Mr. Taiwo Oyedele said something many Nigerians are not paying attention to:
“We are no longer relying on people to be honest and patriotic to declare their income.
We are now using the system to validate what you declare.”
Read that again.
This means:
You still DECLARE your income yourself.
But government will now cross-check your lifestyle with data.
Not guesswork.
Not witch-hunting.
DATA.
I know most of you will be asking...
Iking, how does the Government now know?
Oya... Relax.
Let me explain:
This is the part that will shocked a lot of People.
Government now looks at an ecosystem, not just your bank inflow.
For example:
• Your bank account activity
• Your card usage
• Your travel history
• Your electricity consumption
• Your phone & digital footprint
• Your invoices
• Your lifestyle spending
Then they compare it with what you declared.
So if you say:
“Life was hard, I only earned ₦1 million last year”
But the system shows that:
• You bought a new car
• You travelled abroad twice
• You flew business class
• You spent heavily in malls & restaurants
The system will quietly ask one question:
“Please explain how you spent ₦50 million on ₦1 million income.”
That’s all.
No shouting.
No harassment.
Just explanation.
The chairman also mentioned something many people missed:
Fiscalisation.
Iking, What is it?
Oya... let me explain:
It means that when invoices are issued for goods or services, government automatically gets a copy.
So instead of depending on: “Please declare your income honestly”
The system now says: “We already saw the transaction.”
This is how modern tax systems work globally. Nigeria is simply catching up.
As your Financial Literacy Advocate, I want you to read this part slowly
The chairman made something very clear, which I have said on this Blue App before:
“Government is not interested in chasing small money.
If someone earns ₦50k and spends ₦90k, it’s not worth it.”
So no, this is not about harassing poor people.
This is about:
• Big inconsistencies
• Large unexplained gaps
• Lifestyle that doesn’t match declared income
That is where attention goes.
Here's the part that made many people nervous, and I guess that's why alot of my followers tag me on the post.
He also said this:
“If after due process, explanation is requested and refused, government can debit the bank account to collect the tax owed.”
This is NOT random.
This only happens after:
• You are notified
• You are given opportunity to explain
• You refuse or fail to justify
Then, yes - substitution is allowed under the new law.
This is not Nigeria being wicked. This is Nigeria becoming system-driven.
This new tax system is NOT saying:
“Don’t make money.”
It is saying:
Structure your income
Separate business from personal
Keep records
Declare correctly
Understand allowable expenses
Don’t lie to yourself
Don’t live big and declare small
Tax is no longer about chasing people.
It is about matching data.
Let me tell you the biggest mistake people will make in 2026
Trying to “code” the system.
Writing “gift” on transfers.
Hiding income in personal accounts.
Mixing capital, revenue, and profit.
Running businesses without structure.
That era is ending.
Here's my Advice:
This new tax policy is actually a GOOD thing for people who understand it.
It reduces harassment.
It reduces guessing.
It removes human intimidation.
But it punishes ignorance and poor structure.
I am not here to scare you. I am here to prepare you.
Understand tax.
Don’t run from it.
Structure your life and business properly.
That is how the rich survive any tax system, anywhere in the world.
I am Iking Ferry,
Your Financial Literacy Advocate.
Teaching Nigerians how to stay informed, not afraid.
On a Mission to build Fokona Publicly, From Zero Capital to a Billion Naira Company in the next 10 Years.
