…Dismisses TIN–bank account freeze fears
The Federal Government has confirmed that major tax reforms will take effect from January 1, 2026, while moving to calm public concerns over claims that bank accounts will be frozen or automatically debited if not linked to a Tax Identification Number, (TIN).
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, addressed the concerns in a post, titled: “FACT NOT FEAR” on his official X handle yesterday, dismissing what he described as widespread misinformation surrounding the policy.
Oyedele clarified that the requirement for a Tax ID applies only to income-earning or business accounts, not personal bank accounts.
According to him, the measure is designed strictly for identification and data harmonisation purposes, not as a punitive tool. “A Tax ID is required only for income or business accounts”, Oyedele stated, noting that the provision has already been in existence since January 2020.
He stressed that linking TINs to relevant accounts does not empower authorities to freeze bank accounts or carry out automatic deductions, urging Nigerians to remain calm ahead of the reform’s implementation.
Addressing specific fears, Oyedele wrote: “The fear: Your bank account will be frozen without a Tax ID. The fact: Tax ID is only for income or business accounts, not automatic debit or freezing”.
He further advised citizens to interrogate claims critically, adding: “Bottom line: Don’t panic. Evidence beats emotion. If they make a claim, ask them: ‘Where is it in the law?’.
The clarification, officials say, is part of sustained efforts by the government to counter misinformation and build public confidence in the ongoing tax reform programme ahead of its rollout in 2026.
