No Plan To Freeze Bank Accounts Under 2026 Tax Laws

No Plan To Freeze Bank Accounts Under 2026 Tax Laws – FG.
He described the claims as false and misleading.
TIN rules, he said, are not new under Nigerian law.

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has dismissed claims that Nigerians’ bank accounts will be frozen or automatically debited from January 2026, describing the reports as false, misleading and designed to create panic.

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EKO HOT BLOG reports that Oyedele gave the reassurance in a post shared on his official X handle on Tuesday, amid rising public concerns over the implementation of recently enacted tax reform laws scheduled to take effect next year.

“Don’t let anyone manipulate you. Your bank account is safe,” Oyedele wrote.

He warned that misinformation was being deliberately spread to incite fear and undermine reforms aimed at improving Nigeria’s fiscal and tax system.

“Misinformation makes you panic and fear a reform that is designed to help you. When they tell you that your account will be frozen or automatically debited from January 2026, ask them for the evidence in the new law. Be wise,” he added.

Oyedele stressed that no section of the new tax laws authorises the freezing of bank accounts or automatic deductions, insisting that such claims have no legal foundation.

According to him, the rumours form part of widespread misinformation surrounding recent fiscal and financial reforms being introduced by the Federal Government.

“There is nothing in the law that empowers anyone to freeze your account,” he maintained, urging Nigerians to remain calm and seek clarification from credible and official sources.

He also revisited allegations that the tax reform bills were secretly altered after being passed by the National Assembly. Oyedele explained that many of the provisions being criticised are not new but have existed in Nigeria’s tax framework for years.

Clarifying further, he noted that the requirement for the use of a Tax Identification Number for certain financial and commercial transactions predates the current reforms and was already contained in previous laws, including the Finance Act of 2019.

“The reforms do not introduce automatic deductions or restrictions on bank accounts,” he said.

Oyedele urged Nigerians to disregard unverified claims circulating on social media, warning that the spread of false information could erode public trust and derail reforms designed to promote transparency, efficiency and fairness in the tax system.