We’re not freezing any account in 2026 ~ Oyedele

Chairman of the Presidential Committee on Tax Policy and Fiscal Reforms, Taiwo Oyedele. Photo: State House

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 and misleading.

In a post on his X page on Tuesday, he said, “Don’t let anyone manipulate you. Your bank account is safe. 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 said the rumours are part of widespread misinformation surrounding recent tax and financial reforms, stressing that no provision in the new laws authorises the freezing of bank accounts.

PUNCH Online had reported that Oyedele had also addressed the controversy that the recently enacted tax reform laws, scheduled to take effect on January 1, 2026, were secretly altered after their passage by the National Assembly.

According to him, requirements such as the use of a Tax Identification Number for certain transactions are not new and have existed under previous legislation, including the Finance Act of 2019, noting that the new law only strengthens existing frameworks and does not introduce automatic deductions or account restrictions.

He urged Nigerians to verify information from official sources and to ignore unsubstantiated claims designed to create panic and fear.