Taiwo Oyedele assures Nigerians their bank accounts are safe, dismissing claims of freezes or automatic debits under 2026 tax reforms

Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has dismissed claims that Nigerians’ bank accounts will be frozen or automatically debited from January 2026, describing such reports as false and misleading.

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In a statement posted on his X page on Tuesday, Oyedele wrote, “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.”

The chairman 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 also addressed claims that the recently enacted tax reform laws, scheduled to take effect on January 1, 2026, were secretly altered after passage by the National Assembly.

He clarified that requirements such as the use of a Tax Identification Number (TIN) for certain transactions are not new, noting they have existed under previous legislation, including the Finance Act of 2019.

Oyedele emphasised that the new law only strengthens existing frameworks and does not introduce automatic deductions or account restrictions.

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He urged Nigerians to rely on official sources and ignore unsubstantiated claims designed to create panic and fear.