Amid growing public discontent over economic hardship and the newly imposed 7.5% Value Added Tax (VAT), the Executive Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, was recently seen wearing a luxury Patek Philippe Golden Ellipse wristwatch valued at ₦25,568,118.56.
The watch, part of Patek Philippe’s prestigious Golden Ellipse Collection, features a sunburst blue 18K gold dial, white gold baton-style hour markers, and white gold cheveu-style hands. Reports indicate that the timepiece closely resembles the limited-edition Ref. 5738P-001 “Jumbo” platinum model, renowned for its elliptical case, navy blue alligator leather strap, single diamond at the 6 o’clock position, and ultra-thin Calibre 240 automatic movement.
The sighting has drawn public criticism, as millions of Nigerians struggle with inflation, high fuel and food costs, and the implementation of VAT on selected banking services, including mobile transfers, USSD transactions, and card issuance fees starting January 19, 2026.
Social media users have questioned the appropriateness of a top tax official publicly displaying a luxury item of such value while enforcing tax collection from citizens under increasing financial strain.
The display of wealth by Adedeji comes at a time when the NRS is actively overseeing the collection and remittance of VAT from financial institutions, sparking debates on ethics, public perception, and accountability among revenue agency officials.
Efforts to obtain a comment from the NRS on the matter were not successful as of the time of reporting.
