The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has assured Nigerians that the Federal Government’s proposed tax reforms will not lead to automatic deductions from citizens’ bank accounts.
Oyedele gave the assurance on Tuesday while speaking on Channels Television’s end-of-year special, amid growing public concerns and misinformation surrounding the government’s tax reform agenda.
According to him, no tax authority anywhere in the world has the capacity to monitor or pursue every individual bank transaction, stressing that Nigeria’s tax system is not designed to target ordinary bank users.
“Nobody will debit your account. Any amount of money you transfer, whether it is ₦1 billion or ₦1,000, it doesn’t matter how you describe it. Nobody will debit your bank account,” Oyedele said.
He explained that tax enforcement efforts are typically focused on high-income earners and large-scale economic activities, rather than low-income individuals or routine personal transfers.
Oyedele added that the objective of the ongoing tax reforms is to simplify the tax system, widen the tax net in a fair manner, and improve government revenue without placing additional burdens on ordinary Nigerians.
The reassurance comes as the Federal Government continues consultations with stakeholders on proposed fiscal and tax reforms aimed at strengthening Nigeria’s economy and improving public confidence in the tax system.
Officials have repeatedly urged Nigerians to disregard unfounded claims circulating on social media and rely on verified information from credible sources regarding the reforms.
