Tax Reform Not a Burden But a Modernisation Process — ODIRS Boss, Rojugbokan

The Chairman of the Ondo State Internal Revenue Service (ODIRS), Mr. Bayo Rojugbokan, FCA, FCTI, has allayed the fears of Nigerians over the new tax reform, describing it as a step toward modernising and digitalising the country’s tax system.

Rojugbokan said the reform is designed to simplify taxation by reducing multiple tax laws into a single-digit framework. He made the statement while delivering a lecture titled “Taxation, Innovation and Inclusion: Redefining Nigeria’s Financial Ecosystem” at the Akure Bankers’ Committee end-of-year activities, lectures, and awards ceremony held in Akure, the state capital.

He explained the impact of the new tax laws, including the consolidated Nigeria Tax Acts and the establishment of the Nigeria Revenue Services, noting improvements in tax administration, reduced duplication and enhanced transparency.

The ODIRS chairman also emphasized the critical role of banks in strengthening tax compliance. He addressed the persistent challenge of multiple taxation and proposed practical solutions to support small businesses and boost economic growth.

“There is no reason for anybody to be afraid of the tax reform, because all kinds of taxes we were paying before have now been reduced to one digit through the reform,” he said.

Rojugbokan stressed that taxation is a necessary contribution by individuals to the development of the state and the nation. “Since we are doing it correctly, we should not be afraid of anything. Nothing new is coming. It’s just taxation to ensure transparency and accountability in the process.”

He added that ODIRS is working hard to meet its annual revenue target and will make its performance public in due time. He also appealed to Nigerians to embrace voluntary compliance with the new system.

In his welcome address, the Chairman of the Bankers’ Committee and CBN Branch Controller, Mr. Aina Olumide, thanked the Ondo State Governor for providing an enabling environment for banking operations. He also commended security agencies including the Nigeria Police, MOPOL 17, DSS, and the 37 Brigade of the Nigerian Army in Owena, Akure for their continuous efforts in safeguarding financial institutions.

Mr. Aina further praised member banks for their annual Corporate Social Responsibility initiatives, which he said have benefited the Police, Correctional Service centres, schools, leprosarium facilities, and children’s homes across the state.

The Executive Chairman of Akure South Local Government, Dr. Gbenga Fasua, also commended the Bankers’ Committee for its laudable achievements. He highlighted the successes recorded in infrastructure development and urban renewal through effective tax collection.

According to him, “The takeaway from this event is that we must improve the manner in which we collect our taxes. We also remind those in the habit of tax evasion that there are serious penalties for such.”

He added that the local government plans to adopt e-collection next year, a move he said will help triple tax revenue.

The highlight of the event was the award of honour presented to the Executive Chairman of the Ondo State Internal Revenue Service, Mr. Bayo Rojugbokan, FCA, FCTI, in recognition of his enlightening and thought-provoking presentation on the theme “Taxation, Innovation and Inclusion: Redefining Nigeria’s Financial Ecosystem” as the guest speaker.