The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has dismissed reports suggesting that Nigerians’ bank accounts will be frozen or automatically debited from January 2026, describing the claims as false and deliberately misleading.
In a post on his X (formerly Twitter) page on Tuesday, Oyedele urged Nigerians not to succumb to fear-driven narratives, insisting that no such powers exist under the new tax laws.
“Don’t let anyone manipulate you. Your bank account is safe,” he wrote. “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 to show you the evidence in the new law. Be wise.”
Oyedele said the rumours are part of a broader wave of misinformation trailing recent fiscal and tax reforms, stressing that none of the new legal provisions authorises the freezing of citizens’ bank accounts.
