Tag: Bank accounts

Tax reforms: “Govt.’ll not deduct from bank accounts”, Oyedele assures

Aminu Imam
Oyedele on tax reforms

Amid rising public anxiety over the ongoing tax reforms, the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, on Friday, dismissed fears that the government plans to deduct money directly from bank accounts, insisting that such claims are ‘false, dangerous and capable of destabilising the economy’. Speaking during a media workshop on the new consolidated tax law, Oyedele said the warnings trending on social media were based on ignorance and deliberate misinformation. ‘Let me say this clearly: nobody – not FIRS, not CBN, not any government…

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FG to restrict bank accounts for Nigerians without TIN from January 

Aminu Imam
FGN on TIN

The Federal Government has announced plans to enforce a new phase of its tax reforms, targeting bank account holders across the country. From January 1, 2026, all taxable Nigerians will be required to possess a valid Tax Identification Number, (TIN), before they can operate their bank accounts. The announcement was made by Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, who explained that the requirement is anchored in Section 4 of the Nigerian Tax Administration Act (NTAA), which comes into effect at the start of…

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