The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has rejected claims that Nigerians’ bank accounts will be frozen or automatically debited from January 2026, describing the reports as false and designed to mislead the public.
In a message posted on his X account on Tuesday, Oyedele urged Nigerians not to succumb to fear or manipulation, insisting that the new tax and fiscal reform laws contain no provision authorising such actions.
“Don’t let anyone manipulate you. Your bank account is safe,” he wrote. “When anyone tells you that your account will be frozen or automatically debited from January 2026, ask them to point to where it is stated in the law.”
According to him, the claims are part of a broader wave of misinformation surrounding the recent tax reforms, which he said are intended to improve efficiency and fairness in Nigeria’s fiscal system rather than punish citizens.
Oyedele also addressed allegations that the tax reform laws, billed to take effect on January 1, 2026, were secretly altered after being passed by the National Assembly. He explained that some provisions now being misconstrued, such as the requirement to present a Tax Identification Number (TIN) for certain transactions, are not new and have existed in previous laws, including the Finance Act of 2019.
He stressed that the reforms do not introduce automatic deductions from bank accounts or grant government agencies the power to freeze accounts at will.
Calling on Nigerians to seek information from credible and official sources, Oyedele warned that the spread of false claims could undermine public confidence and derail reforms aimed at strengthening tax administration and economic stability.
The tax reform laws have continued to attract public debate, with authorities urging calm and informed engagement ahead of their scheduled implementation.
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