The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr.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.
This is as the Federal Inland Revenue Service (FIRS) has announced that the National Identification Number (NIN) and Corporate Affairs Commission (CAC ) numbers will serve as tax Identifications (IDs) From 2026.
Oyedele, in a post on his X page on Tuesday,December 23,2025, 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 were part of widespread misinformation surrounding recent tax and financial reforms, stressing that no provision in the new laws authorises the freezing of bank accounts.
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.
In another development, the Federal Inland Revenue Service(FIRS) has announced that the National Identification Number issued by the National Identity Management Commission has automatically become the Tax Identification Number for individual Nigerians.
The clarification was made in a public awareness campaign on the new tax laws shared by the Service on X on Monday,December 22,2025.
According to the FIRS, registered businesses will also no longer require a separate Tax ID, as their Corporate Affairs Commission registration number will now serve as their official tax identifier under the new tax system.
The announcement comes amid public concerns over provisions in the new tax laws that require a Tax ID for certain transactions, including the ownership of bank accounts.
