The Chairman, Presidential Fiscal Policy & Tax Reforms Committee, Taiwo Oyedele, has clarified fears about the use of Tax Identification Numbers for bank accounts ahead of the January 2026 rollout of new tax regulations.
![](https://thenigerialawyer.com/wp-content/uploads/2025/05/idrinstitute.png")
In a post he tagged ‘𝐅𝐀𝐂𝐓 𝐍𝐎𝐓 𝐅𝐄𝐀𝐑’ on his X account on Friday, he said, contrary to widespread misinformation, he emphasised that bank accounts will not be frozen nor automatically debited if a TIN is not linked.
He said, “A Tax ID is required only for income-earning or business accounts, adding that the requirement is intended for identification and data harmonisation, not as a punitive measure.”
“The provision has been in place since January 2020,” he said.
He urged Nigerians not to panic, noting that the TIN requirement primarily applies to business accounts to facilitate efficient tax administration.
He posted, “𝐓he 𝐅ear: Your bank account will be frozen without a Tax ID, and you will be automatically debited from January 2026.”
“𝐓he 𝐅act: Tax ID (TIN) is only required for income or business accounts. This is for identification and data harmonisation, not automatic debit or freezing personal accounts.”
“This provision is not new; it has existed since January 2020.”
“𝐁ottom 𝐋ine: Don’t panic! The Tax ID requirement is for ease of administration, not punishment, and applies primarily to business accounts.”
“𝐅inal word: Evidence beats emotion. If they make a claim, ask them: ‘Where is it in the law?'” he said.
The clarification forms part of an ongoing public education series aimed at separating facts from misinformation in the implementation of tax reforms.
Oyedele had previously dismissed claims that Nigerians’ bank accounts will be frozen or automatically debited from January 2026, describing the reports as false and misleading.
On December 24, Oyedele had warned that delaying the implementation of the new tax laws beyond January 1, 2026, will have severe consequences on workers and businesses across Nigeria.
Oyedele’s warning follows mixed reactions over alleged discrepancies between the tax laws passed by the National Assembly and the gazetted version.
The concern was raised by a House of Representatives member, Abdulsamad Dasuki, who claimed that the FG gazetted laws differed from the version approved on the floor of the House.
The House of Representatives Committee has commenced an investigation into the alleged discrepancies of the gazetted tax laws and pledged to submit its report as soon as its work is concluded.
The Chairman of the Committee, Muktar Betara, gave the assurance on Wednesday, following the inaugural meeting of the panel, which was held in Abuja on Tuesday.
Oyedele’s latest clarification comes amid heightened public anxiety and misinformation circulating on social media about the implications of the new tax regulations set to take effect from January 2026.
By emphasizing that the TIN requirement is “not new” and has been in place since January 2020, Oyedele appears to be addressing concerns that the January 2026 rollout represents a sudden or radical change in policy.
The key points from Oyedele’s clarification are:
- Bank accounts will NOT be frozen without a TIN
- Accounts will NOT be automatically debited
- TIN is required ONLY for income-earning or business accounts
- The requirement is for identification and data harmonization
- It is NOT a punitive measure
- The provision has existed since January 2020
- The requirement is for ease of administration, primarily for business accounts
Oyedele’s emphasis on “evidence beats emotion” and his challenge to those spreading fears—”ask them: ‘Where is it in the law?'”—reflects the committee’s effort to combat what it sees as deliberate misinformation about the tax reforms.
The chairman has consistently maintained that much of the opposition to the tax reforms is based on misunderstanding or deliberate misrepresentation of the provisions.
The TIN clarification comes against the backdrop of a broader controversy surrounding the tax reform laws, with allegations that the gazetted versions differ from what was passed by the National Assembly.
While the House of Representatives has set up a committee to investigate these allegations, Oyedele has warned that any delay in implementation beyond January 1, 2026, would have “severe consequences” for workers and businesses.
The clarification is likely to provide some relief to Nigerians who had been concerned about potential disruptions to their bank accounts from January 2026.
However, questions remain about other aspects of the tax reforms and the ongoing controversy over alleged discrepancies in the gazetted laws.
As the January 2026 implementation date approaches, both the Presidential Fiscal Policy & Tax Reforms Committee and the House of Representatives investigative panel face pressure to provide clarity and resolve outstanding concerns about the new tax regime.
A timely new publication, Casebook on Privacy & Data Protection in Nigeria, co-authored by Olumide Babalola and Uchenna Nnawuchi,📘Casebook on Privacy & Data Protection in Nigeria is now available on Amazon:https://a.co/d/8TmFZrd
______________________________________________________________________
[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials
How to Order:
📞 Call, Text, or WhatsApp: 08034917063 | 07055285878
📧 Email: benadigwe1@gmail.com
🌎 Website: www.benadigwe.com
Ebook Version: Access it directly online at https://selar.com/prv626
_____________________________________________________________________
