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Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, today addressed widespread concerns regarding the implementation of new tax laws set to begin in January 2026. Oyedele firmly assured Nigerians that the reforms do not authorize automatic deductions from personal or business bank accounts.
Recent misinformation has sparked fears among the public. Claims suggest that bank accounts without a Tax Identification Number (TIN) will face freezing or direct debits for tax purposes. Oyedele debunked these rumors, emphasizing that no such provisions exist in the approved legislation.
"The new tax laws prioritize fairness and transparency," Oyedele stated. "We designed them to simplify compliance and reduce burdens on taxpayers. Nobody will debit your bank accounts directly. Banks will not deduct funds for tax defaults without proper legal processes."
Oyedele explained the facts clearly. Tax authorities must establish liability through court rulings before any enforcement actions. This protects citizens from arbitrary deductions. He urged Nigerians to disregard false narratives and verify information from official sources.
Furthermore, the reforms aim to boost economic growth. They include measures to streamline tax administration and encourage voluntary compliance. Oyedele highlighted that the government remains committed to public education on these changes.
Citizens can access detailed guidelines on the Federal Inland Revenue Service (FIRS) website. The committee plans additional workshops and media sessions in the coming weeks to address queries.
This clarification comes amid preparations for the new regime. Oyedele encouraged all eligible individuals and businesses to obtain their TIN promptly through simple online processes.