The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has addressed public concerns over the use of Tax Identification Numbers (TIN) ahead of the January 2026 rollout of new tax regulations.
In a statement shared on his X account, Oyedele dismissed claims that bank accounts without TINs would be frozen or automatically debited. He explained that a TIN is required only for income-earning or business accounts, not personal accounts.
According to him, the requirement is strictly for identification and data harmonisation and is not intended as a punitive measure. He also noted that the provision has been in place since January 2020.
Oyedele urged Nigerians not to panic, stressing that the policy is aimed at improving tax administration and applies mainly to business-related accounts.
He added that claims suggesting automatic debits or account freezes are misinformation and encouraged the public to rely on verified legal provisions rather than rumours.
Meanwhile, concerns have been raised over alleged discrepancies between the tax laws passed by the National Assembly and the version later gazetted. The House of Representatives has commenced an investigation into the matter and assured that its findings will be made public once concluded.
