By Erewunmi Peace

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has assured Nigerians that the proposed tax reforms will not allow the government to automatically debit citizens’ bank accounts.

Oyedele made this clarification while addressing growing public concerns and misinformation surrounding the new tax laws expected to take effect from January 1, 2026. According to him, claims circulating on social media that tax authorities would directly deduct money from people’s bank accounts are false and misleading.

He explained that Nigeria’s tax system remains a self-assessment framework, where individuals and businesses are required to declare their income voluntarily and pay the appropriate taxes based on existing laws. “No one has the power to wake up and debit your bank account for tax purposes,” Oyedele stated.

Oyedele further emphasized that bank account monitoring does not equal automatic taxation, noting that financial records alone cannot determine tax liability. He added that any enforcement action regarding unpaid taxes must follow due legal process, including assessments, notifications, and where necessary, court orders.

The tax reform committee chairman urged Nigerians to rely on information from official government sources rather than unverified social media claims, stressing that the reforms are aimed at making the tax system fairer, simpler, and more transparent, not punitive.

He also reassured low-income earners that the reforms are designed to reduce the tax burden on vulnerable citizens while improving compliance among high-income earners and large corporations.

The Federal Government has repeatedly stated that the ongoing tax reforms are part of efforts to strengthen revenue generation without placing unnecessary hardship on ordinary Nigerians.