Taiwo Oyedele, chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has said that not enough people know about taxes is why many Nigerians are worried about the new tax changes coming in January 2026.
He told the media over the weekend that Nigerians are learning about many things for the first time.Oyedele explained that most of the information about the Tax Identification Number, Taxpayer Identification Number, the monthly report banks are required to send about individual accounts, and other related topics is from the 2020 Finance Act.
He said,
“But because people in Nigeria don’t know much about taxes, they think these new rules are being introduced now. In reality, they’re not.” Oyedele also made it clear that no bank, government, or private organization can take money from someone’s account without permission.
He said,
“Even if you have a billion naira in your account, no one can take it out without following the correct process. If you don’t pay your taxes, the government will contact you, you can respond, they’ll do a final check, and if necessary, go to court. It’s a long process.” , “No one has the right to take money from your account without following the law. In some countries, they use something called a garnishee order.”
Oyedele made these comments as uncertainty grows ahead of the January 2026 implementation of the 2025 Nigeria Tax Administration Act.