Taiwo Oyedele, Chairman of Nigeria’s Presidential Fiscal Policy and Tax Reforms Committee, has clarified that bank accounts will not be frozen or automatically debited without a Tax Identification Number (TIN) from January 2026. The requirement applies mainly to income-earning or business accounts.
Okay News reports that Oyedele addressed widespread misinformation in a post titled “ ” on X. He emphasised the rule’s purpose for identification and data harmonisation, not punishment.
“he ear: Your bank account will be frozen without a Tax ID, and you will be automatically debited from January 2026,” Oyedele wrote.
“he act: 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,” he added.
“This provision is not new; it has existed since January 2020,” he noted.
Oyedele urged calm, describing the measure as administrative ease. Personal accounts for non-earners, such as students or dependents, remain exempt.
“ottom ine: Don’t panic! The Tax ID requirement is for ease of administration, not punishment, and applies primarily to business accounts,” he stated.
“inal word: Evidence beats emotion. If they make a claim, ask them: ‘Where is it in the law?’” he concluded.
The clarification supports public education on tax reforms. It separates facts from rumours amid implementation concerns.
Recent controversies involved alleged discrepancies in gazetted laws. The National Assembly launched a review.
Oyedele previously warned against delaying rollout beyond January 1, 2026. Impacts would affect workers and businesses.
His statements reinforce transparent application of the Nigeria Tax Administration Act. They promote understanding ahead of changes.
This guidance eases public anxiety. It aligns reforms with efficient, non-punitive tax management in Nigeria.
 from January 2026. The requirement applies mainly to income-earning or business accounts.){kind=link}