By Atoyebi Nike
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 untrue.
In a post on his X handle on Tuesday, Oyedele assured Nigerians that their bank accounts were safe, warning that misinformation was being used to stir panic and resistance against reforms meant to improve the system.
“Don’t let anyone manipulate you. Your bank account is safe,” he said, adding that anyone making such claims should be asked to point to the specific provision in the new law that authorizes account freezes or automatic deductions.
Oyedele explained that no section of the recently passed tax reform laws empowers authorities to freeze bank accounts. He also addressed allegations that the laws, which take effect on January 1, 2026, were altered after passage by the National Assembly, dismissing the claims as false.
According to him, requirements such as the use of a Tax Identification Number for certain transactions are not new, noting that similar provisions already existed under earlier laws, including the Finance Act of 2019. He said the reforms merely strengthen existing frameworks without introducing automatic debits or account restrictions.
Oyedele urged Nigerians to rely on verified information from official sources and to ignore unsubstantiated claims intended to spread fear.
