Federal tax reform panel launches ‘Fact Not Fear’ campaign, as officials say personal accounts will not be frozen or debited in 2026 without tax IDs.
Nigeria’s Federal Government has moved to calm public anxiety over tax policy, clarifying that individual bank accounts will not be frozen or automatically debited for lacking a Tax Identification Number, known as a TIN.
The explanation follows days of online speculation and claims suggesting that new tax laws would trigger penalties on personal bank accounts beginning in January 2026. Officials say those claims are inaccurate and risk undermining confidence.
The clarification was issued by the Presidential Fiscal Policy and Tax Reforms Committee, which has launched a public education campaign titled “Fact Not Fear.” The initiative is designed to counter misinformation and explain how Nigeria’s evolving tax framework applies.
In a post on X on Friday December 26, 2025, committee chairman Taiwo Oyedele said TIN requirements apply only to business-related bank accounts. He stressed that the policy is intended to improve identification and data coordination, not to punish citizens.
According to the committee, existing provisions of Nigeria’s Personal Income Tax Act already require banks to request a TIN from customers opening accounts for business purposes. That rule has been in effect since January 2020.
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Newer provisions under the National Tax Administration Act extend similar obligations to financial institutions such as banks, insurance firms, and stockbrokers. Officials emphasized that the requirement applies to taxable persons earning income from trade or business.
The committee said there is no legal basis for claims that individual savings or salary accounts will be frozen, restricted, or automatically debited for tax purposes due to the absence of a TIN. Any such action would require statutory authority.
“Tax ID is for ease of administration, not punishment,” the committee said, describing the identifier as a tool to streamline records, reduce duplication, and improve compliance among businesses in the formal economy.
Officials urged Nigerians to approach tax-related headlines with caution and to verify claims against the law itself. The committee encouraged citizens to ask: “Where is it in the law?”
The clarification comes as Nigeria pushes ahead with broader fiscal reforms aimed at widening the tax base without increasing rates, in a country where revenues remain constrained and trust in tax administration is fragile.
By addressing the rumors directly, authorities say they hope to prevent panic while building support for reforms they argue are essential for long-term stability and improved public services.
The committee said clearer communication would continue as implementation timelines approach and urged banks to reinforce accurate guidance to customers nationwide.
